Doxorubicin Market size is estimated to reach USD 7,500 Million by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~USD 2,734 Million |
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Forecast Year Market Size (2035) |
~USD 7,500 Million |
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Regional Scope |
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Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy)
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.
Drug Formulation (Lyophilized Powder, Injection)
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 market includes the following segments:
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By Drug Formulation |
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By Application |
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By Distribution Channel |
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North American Market Forecast
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.
APAC Market Statistics
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.
Europe Market Forecast
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.
Author Credits: Radhika Gupta, Shivam Bhutani
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