Doxorubicin Market Size, Share- Global Report, 2035

Global Doxorubicin Market Size, Forecast, and Trend Highlights Over 2023 – 2035

Doxorubicin Market size is estimated to reach ~USD 7,500 Million by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of doxorubicin was ~USD 2,734 Million. The growth of the market can be attributed to the increasing prevalence of cancer worldwide along with the significant investments in research and development of doxorubicin. The World Health Organization reported that cancer caused nearly 10 million deaths worldwide in 2020. In 2020, breast cancer accounted for 2.26 million cases, lung cancer was 2.21 million, colon and rectal cancer was 1.93 million, prostate cancer was 1.41 million, skin cancer was 1.20 million, and stomach cancer was 1.09 million. As the number of people diagnosed with cancer continues to rise, there is a higher demand for treatments such as doxorubicin, which is an effective form of chemotherapy. Doxorubicin is an anti-cancer drug that works by targeting and destroying cancer cells while leaving healthy cells intact.

In addition to these, factors that are believed to fuel the market growth of doxorubicin include increasing penetration of doxorubicin in emerging countries, the growing number of clinical trials, and increasing investments in oncology research. Moreover, the rise in the number of people suffering from leukemia, a type of cancer affecting the blood and bone marrow is expected to drive market growth. In 2023, the American Cancer Society estimates about 59,610 new cases of leukemia (all types) and 23,710 deaths associated with leukemia will be reported, as well as approximately 20,380 new cases of acute myeloid leukemia (AML) registered. Doxorubicin is used to treat a variety of blood cancers, such as acute myeloid leukemia and Hodgkin's lymphoma. It works by disrupting the production of proteins that cancer cells need to survive.

Global Doxorubicin Market: Growth Drivers and Challenges

Growth Drivers

Rising Incidence of Ovarian Cancer - Ovarian cancer is an aggressive form of cancer with a high mortality rate. American Cancer Society projection indicates that, as of 2023, approximately 19,710 new cases of ovarian cancer will be diagnosed and approximately 13,270 cases of ovarian cancer will be fatal. Doxorubicin, a chemotherapy drug, is one of the most commonly used medications for treating ovarian cancer. It works by interfering with the cell's DNA, which prevents the cancer cells from replicating and growing.
Increasing Number of Approvals of Doxorubicin by Regulatory Authorities, such as the US Food and Drug Administration (FDA) - For instance, Zydus Cadila received approval from the US FDA in September 2020 for its generic Doxorubicin Hydrochloride Liposome injection, used to treat certain cancers, to be marketed across the United States.
Rapid Surge in Healthcare Expenditures - Healthcare expenditures have been steadily increasing owing to rising medical costs, an aging population, and an increase in the number of people with chronic health conditions. As per the Centers for Medicare & Medicaid Services, the US National Health Expenditures in 2021 increased by 2.7% to USD 4.3 trillion, representing 18.3% of the GDP. There was an increase of 7.8% in prescription drug spending in 2021 to USD 378.0 billion, which is faster than the 3.7% increase that was recorded in 2020.
Rising Geriatric Population Worldwide - For instance, according to the World Ageing Report 2019, there is an expectation that the number of people over the age of 65 is going to increase from 53.340 million in 2019 to 83.813 million by 2050. The geriatric population is more prone to various diseases such as cancer, and as a result, they require more medical intervention. Doxorubicin is an effective chemotherapy drug used to treat a variety of cancers and is therefore in high demand among the geriatric population.
Rise in Government Initiatives for Cancer Awareness - For instance, as part of the National Comprehensive Cancer Control Program of the United States, funding, guidance, and technical assistance were provided in 2020 for the implementation of cancer prevention and control programs. also, the Government of India initiated the National Cancer Grid (NCG) in partnership with the Department of Atomic Energy and its grant-in-aid institution, the Tata Memorial Centre, to develop a national network for cancer treatment, including cancer research institutes, patient groups, and charitable organizations.

Challenges

The high cost of doxorubicin and its severe side effects - Doxorubicin is a highly toxic chemotherapy drug, so its cost is understandably high. Its side effects can be debilitating, and its use is limited to the most serious cases. This restricts the market for it, as many patients are unable to afford it or are not willing to take the risk of potential side effects.
Strict regulations imposed by various governments and the lack of reimbursement

Availability of generic alternatives

Global Doxorubicin Market Segmentation

The global doxorubicin market is segmented and analyzed for demand and supply by distribution channel into hospital pharmacy, retail pharmacy, and online pharmacy. Out of these, the hospital pharmacy segment is estimated to gain the largest market share of about ~41% in the year 2035. The growth of the segment can be attributed to the increasing demand for hospital services and the availability of cost-effective drugs. The rising number of private hospitals, which are equipped with advanced technology and well-trained healthcare professionals, is also driving the growth of this segment. It was observed that currently, India is home to more than 43,480 private hospitals. As of 2020, France was home to 670 private not-for-profit hospitals and 970 private for-profit hospitals, while the United States had over 1574 private for-profit hospitals. Additionally, the availability of generic drugs, which are more affordable than brand-name drugs, is also contributing to the increased demand for hospital pharmacy products.

The global market is segmented and analyzed for demand and supply by drug formulation into lyophilized powder and doxorubicin injection. Out of these, the doxorubicin injection segment is estimated to gain a significant market share of about ~67% in the year 2035. The growth of the segment can be attributed to the increasing prevalence of cancer and other life-threatening diseases, combined with the growing demand for doxorubicin injections as a primary treatment for cancer. Additionally, the availability of various forms of doxorubicin injections, such as liposomal and hybrid formulations, is also contributing to the growth of the segment. Moreover, the rising demand for improved treatment outcomes and the emergence of targeted cancer therapies with doxorubicin injections have further increased the demand for doxorubicin injections.

Our in-depth analysis of the global doxorubicin market includes the following segments:

By Drug Formulation

Lyophilized Powder
Doxorubicin Injection

By Application

Bladder Cancer
Kaposi Sarcoma
Leukemia
Lymphoma
Breast Cancer
Ovarian Cancer
Multiple Myeloma
Kidney cancer
Others

By Distribution Channel

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

Global Doxorubicin Market Regional Synopsis

The market share of doxorubicin in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the rising prevalence of breast cancer and its treatment, increasing government initiatives for cancer research, and increasing investments in research and development for new treatments for breast cancer are expected to support the growth of the market in North America. As per the Centers for Disease Control and Prevention findings, every year, approximately 264,000 cases of breast cancer are diagnosed in women and 2,400 in men in the United States. A total of 42,000 women and 500 men in the United States die from breast cancer each year. Doxorubicin is an effective chemotherapeutic agent that works by blocking the growth and reproduction of cancer cells. It has been used in the treatment of breast cancer for many years and is effective in shrinking tumors and prolonging the lives of patients. Additionally, factors such as the availability of healthcare infrastructure and the presence of leading market players in the region are also likely to contribute to the growth of the market in the region.

The Asia Pacific doxorubicin market is estimated to be the second largest, registering a share of about ~27% by the end of 2035. The growth of the market can be attributed majorly to the increasing prevalence of cancer and the rise in demand for targeted therapies in the region. Targeted therapies are treatments that are tailored to the specific genetic makeup of an individual's cancer. This type of therapy is more effective and has fewer side effects than traditional treatments such as chemotherapy. Therefore, increased demand for targeted therapies is expected to drive the growth of the Asia Pacific market. Additionally, the rise in the number of regulatory approvals for doxorubicin-based drugs an increase in the number of clinical trials, and the development of innovative drug delivery models are further expected to drive the growth of the Asia Pacific doxorubicin market in the coming years.

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increased prevalence of multiple myeloma cases in the region, growing awareness about treatment options, and the availability of advanced healthcare infrastructure. Doxorubicin is an effective cancer therapeutic drug used to treat multiple myeloma, as it can kill cancer cells while not damaging healthy cells. It also helps to reduce symptoms, such as pain and fatigue, associated with the condition. Additionally, the increasing expenditure on healthcare is also a major factor driving the growth of the doxorubicin market in Europe.

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Top Featured Companies Dominating the Global Doxorubicin Market

Pfizer Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Johnson and Johnson
Zydus Group
Cipla Limited
Sun Pharmaceutical Industries Ltd
Padagis
Reddy Laboratories Ltd.,
Cadila Healthcare Limited
Novartis International AG
MicroBiopharm Japan Co. Ltd.

In The News

Ayana Pharma Ltd, in partnership with Padagis, received approval from the US FDA to launch a generic version of the drug Doxil (Doxorubicin Liposome Injection), which has been rated AB by the FDA.
Under a definitive merger agreement between Pfizer Inc. and Seagen Inc., Pfizer Inc. plans to acquire Seagen for USD 229 per Seagen share, for a total enterprise value of USD 43 billion. Seagen develops, commercializes, and discovers transformative cancer medicines.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the doxorubicin market?

Ans: Increasing prevalence of cancer and rising demand for targeted therapies are the major factors driving the market growth.

2) What would be the CAGR of doxorubicin market over the forecast period?

Ans: The market size of doxorubicin is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the doxorubicin market growth?

Ans: Strict regulations imposed by various governments and the lack of reimbursement are estimated to be the growth-hindering factors for market expansion.

4) Which region will provide more business opportunities for growth of doxorubicin market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the doxorubicin market?

Ans: The major players in the market are Pfizer Inc., Johnson and Johnson, Zydus Group, Cipla Limited, Sun Pharmaceutical Industries Ltd, Padagis, Reddy Laboratories Ltd., Cadila Healthcare Limited, Novartis International AG, MicroBiopharm Japan Co. Ltd., And others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the doxorubicin market?

Ans: The market is segmented by drug formulation, application, distribution channel, and by region.

8) Which segment captures the largest market size in the drug formulation segment in the doxorubicin market?

Ans: The doxorubicin injection segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~6%
Base Year Market Size (2022)	~USD 2,734 Million
Forecast Year Market Size (2035)	~USD 7,500 Million
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)