Doxorubicin Market To Hit Value $1.38 Billion By 2025 |Grand View Research, Inc.
The global doxorubicin market was valued at USD 0.81
billion in 2015 and is expected to reach a value of USD 1.38 billion by 2024,
according to a new report by Grand View Research, Inc. The growing number of
players in the market to control the shortage of the drug is one of the crucial
factors that is expected to drive the market in the coming few years. Some of
the doxorubicin manufacturers are Ortho Biotech Products, LP, Ben Venue
Laboratories, Inc., and Bristol-Myers Squibb Company. The increasing indication
of doxorubicin drug in various applications such as AIDS related Kaposi
Sarcoma, multiple myeloma, neuroblastoma, osteosarcoma, and ovarian cancer
signifies the growth in demand for the drug. The technological advancement in
the drug formulations to overcome the adverse effects on health and also introduces
various types of drug delivery systems such as nanoparticles or liposomal
coated are some of the pivotal factors that are impelling the industry growth.
Multiple therapeutic regimens are being
followed across the globe in attempts to come up with a reliable treatment for
Covid-19. One line of treatment includes the use of hydroxychloroquine, while a
second treatment line focuses to use antiviral drugs used in the disease
management of HIV. Both these approaches have surged demand from advanced antivirals
and antimalarial drugs. This impacts the drug manufacturers as an off label
indication for these drug classes has to be worked upon. At the moment, the WHO
has not prescribed any of these approaches, neither they have commented if one
is better than the other. The report will account for Covid19 as a key market
contributor.
The U.S. government had issued an executive
order to overcome the shortage of life saving drugs, chemotherapy agents, and
critically needed drugs in the U.S. region, is one of the indicators accounted
for the increasing number of players in this sector. Based on the estimates of
Surveillance, Epidemiology, and End Results (SEER), the anticipated number of
malignancy cases in 2016 are listed below: -
·
Leukemia
60,140
·
Breast
cancer
2,46,660
·
Endometrial
cancer 60,050
·
Gastric cancer
26,370
·
Liver
cancer
39,230
·
Kidney
Cancer 62,700
According to the estimates of the Leukemia
& Lymphoma Society in 2016, about 60,140 people are anticipated to be
diagnosed with leukemia. The growing prevalence and subsequently increasing
survival is one of the factors that indicates the technological advancement and
growing adoption of new treatment procedures.
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Further Key Findings
from the Study Suggest:
·
In 2015, breast cancer is
the largest application of doxorubicin market, having a share of around 21.1%.
The growing demand for the drug in combination therapy with cisplatin is one of
the pivotal factors that are expected to impel the doxorubicin market.
·
Liver cancer segment is
the fastest growing application in this sector. The growing demand for the drug
in combination and mono chemotherapies to treat liver cancer over other
anticancer drugs is one of the crucial factors that is expected to boost the
industry growth.
·
In 2015, North America
held majority of market share of over 48.8% in the global doxorubicin market.
The presence of dominating market players such as Johnson & Johnson and Sun
Pharmaceuticals Industries Ltd. and rising awareness regarding efficacious drug
alternatives are few of the key factors attributed to the regions high market
share.
·
Asia Pacific is the
fastest growing region in this market. The presence of unmet demand for
anti-cancer treatment and rapidly growing pharmaceutical industries in
countries such as China, Japan, and India are among some factors that are
expected to drive the market in the coming few years.
·
Some of the key market
players are Sun Pharmaceutical Industries Ltd., Pfizer, Inc., Cipla, Inc.,
Cadila Pharmaceuticals, and SRS Pharmaceuticals Pvt. Ltd.
The global doxorubicin market size was valued at USD 809.6
million in 2015 and is projected to grow at a CAGR of 6.4% over the forecast
period. Increasing government intervention to support technological advancement
in clinical oncology such as intravenous freetherapy and digital microfluidics
for on chip biochemical analysis, is expected to boost the usage rate of the
drug during the forecast period.
According to the American Cancer Society (ACS), it was
reported that about 38 million people die every year due to non-communicable
diseases, with more than 8 million of them dying from tumor malignancy.
Furthermore, based on the estimates of the World Health Organization (WHO), the
cancer incidence rate could further increase by 50% by 2020. The rising use of
the drug to treat AIDS related Kaposi Sarcoma, breast malignancy, multiple
myeloma, acute meroblastic leukemia is one of the pivotal factors that is
expected to boost the doxorubicin industry value.
In 2015, breast cancer application of doxorubicin market held
a majority share of over 21%. The rapidly growing number of cases of breast
cancer and high preference of doxorubicin over other drugs for the treatment of
malignant neoplasm of the breast are some of the factors impelling the industry
growth in the coming few years. Based on the analysis of the Breast Cancer
Organization, it is anticipated that over 12% of the total women population in
the U.S. to develop invasive ductal carcinoma during the course of their
lifetime. Increasing the survival rate is one of the indicators for the growing
adoption of technologically advanced treatment therapies.
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Grand View Research has segmented the
Doxorubicin market by application:
Doxorubicin Market: Application outlook
(Market revenue in USD Million, 2013 - 2024)
·
Ovarian cancer
·
Multiple myeloma
·
Kaposi Sarcoma
·
Leukemia
·
Bone sarcoma
·
Breast cancer
·
Endometrial cancer
·
Gastric cancer
·
Liver cancer
·
Kidney cancer
·
Other cancer
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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