Global Doxorubicin Market Analysis Report 2022: A $1.98 Billion Market by 2028 - Increasing Approval of Generic Products - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Sep 9, 2022--

The "Doxorubicin Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Formulation, Application, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.

The global doxorubicin market is projected to reach US$ 1,983.40 million by 2028 from US$ 1,390.64 million in 2022; it is expected to register a CAGR of 6.1% from 2022 to 2028.

Increasing prevalence of cancer and increasing preference of chemotherapy are driving the global doxorubicin market growth. However, the potential side-effects associated with doxorubicin is hampering the global doxorubicin market growth.

Doxorubicin belongs to the anthracycline family and is widely used for the treatment of malignancies such as breast, lung, multiple myeloma, ovarian, kidney, liver, sarcoma, and others. The product is used in the patients with cancer whose disease has progressed or recurred after chemotherapy.

Cancer is a leading cause of death globally. According to the World Health Organization (WHO), cancer was the first leading cause of death in people below 70 years in 183 countries and the fourth major cause of death among the population of all ages in 123 countries worldwide in 2019.

In addition, as per the data published by the WHO in March 2021, different cancer types will have caused ~10 million deaths in 2020. The increasing prevalence of cancer has burdened healthcare systems worldwide, bolstering the demand for chemotherapy. Doxorubicin is one of the primary drugs used as first-line treatment in chemotherapy.

The drug is used to cause regression in disseminated neoplastic diseases like breast, ovarian, transitional cell bladder, thyroid, gastric, acute lymphoblastic leukemia, acute myeloblastic leukemia, Wilms' tumor, neuroblastoma, soft tissue and bone sarcomas, Hodgkin's disease, malignant lymphoma, and bronchogenic carcinomas, in which the small cell histologic type. The drug is also recommended as adjuvant therapy in women who have had primary breast cancer removed and have axillary lymph node involvement.

Furthermore, government funding for cancer prevention in various countries offers significant growth opportunities for the global doxorubicin market. For Instance, in June 2020, the National Institutes of Health granted nearly US$ 3.5 million to the University of Missouri School of Medicine to study a pre-treatment for chemotherapy that could protect cancer patients from therapy-induced heart problems.

Thus, with rising cancer prevalence and increasing government support as funding, guidance, and assistance, emerging countries are providing significant growth opportunities to manufacturers operating in the line doxorubicin drug market.

Key Market Dynamics

Market Drivers

• Increasing Prevalence of Cancer
• Increasing Preference for Chemotherapy

Market Restraints

• Potential Side-effects Associated with Doxorubicin

Market Opportunities

• Increasing Government Funding, Guidance, and Technical Assistance for Cancer Prevention

Future Trends

• Increasing Approval of Generic Products

Market Positioning of Key Players in Doxorubicin Market

• Janssen Pharmaceuticals (Johnson and Johnson Services, Inc.)
• Pfizer Inc.

Company Profiles

• Accord Healthcare
• Cipla Inc.
• Dr. Reddy's Laboratories
• Meiji Holdings Co., Ltd.
• Janssen Pharmaceuticals (Johnson and Johnson Services, Inc.)
• Novartis AG
• Pfizer Inc.
• Sun Pharmaceutical Industries Ltd
• Baxter International Inc.
• Zydus Cadila

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KEYWORD:

INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL

SOURCE: Research and Markets

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