Global Doxorubicin Market to Reach US$ 2.0 Billion by 2032, Fueled by Increasing Prevalence of Various Types of Cancer

June 05, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Doxorubicin Market Report by Application (Breast Cancer, Ovarian Cancer, Multiple Myeloma, Kaposi Sarcoma, Leukemia, Bone Sarcoma, Endometrial Cancer, and Others), Distribution Channel (Hospital and Retail Pharmacies, Online Stores, and Others), and Region 2024-2032,” the global doxorubicin market size reached US$ 1.3 Billion in 2023. Doxorubicin is a potent chemotherapy medication that belongs to the class of drugs known as anthracyclines. It is derived from the bacterium Streptomyces peucetius and is widely used to treat various types of cancer. As an anthracycline, doxorubicin exerts its anti-cancer effects by multiple mechanisms. It intercalates with the deoxyribonucleic acid (DNA) helix, preventing DNA replication and transcription. Additionally, it inhibits the action of topoisomerase II, an enzyme involved in DNA strand breakage and resealing processes. As a result, it is widely used in treating solid tumors, including breast, lung, ovarian, and bladder cancer, and managing hematological malignancies such as leukemia and lymphoma. Doxorubicin is often used in combination with other chemotherapy drugs or as part of multidrug regimens to enhance its therapeutic efficacy.

Global Doxorubicin Market Trends:

The rising prevalence of various types of cancer represents the key factor driving the market growth. Besides this, the escalating consumer awareness about cancer symptoms, early detection, and screening programs are propelling the market forward. Moreover, the shifting preference for chemotherapy and the expanding demand for combination therapies that use doxorubicin with other anti-cancer drugs on account of synergistic effects and improved treatment outcomes is aiding in market expansion. Concurrent with this, patent expirations of branded doxorubicin products resulting in the launch of numerous generic product variants are acting as a significant growth-inducing factor. In addition to this, the implementation of numerous government initiatives aimed at cancer control, research, and treatment, and extensive funding in cancer programs and drug development are presenting remunerative growth opportunities for the market. Furthermore, technological advancements in drug delivery systems, such as liposomal formulations, to enhance the efficacy and safety and reduce side effects of chemotherapy drugs like doxorubicin are positively impacting the market growth. In line with this, ongoing collaborations between pharmaceutical companies, research institutions, and healthcare organizations to accelerate drug discovery and innovate new doxorubicin formulations and combination therapies are contributing to the market growth. Looking forward, the market value is projected to reach US$ 2.0 Billion by 2032, expanding at a CAGR of 5.33% during 2024-2032.

Market Summary:

On the basis of the application, the market has been segregated into breast cancer, ovarian cancer, multiple myeloma, Kaposi sarcoma, leukemia, bone sarcoma, endometrial cancer, and others. Among these, breast cancer represents the biggest market segment.
Based on the distribution channel, the market is categorized into hospital and retail pharmacies, online stores, and others.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Accord Healthcare Ltd. (Intas Pharmaceuticals Limited), Baxter International Inc., Cadila Pharmaceuticals, Cipla Inc., Hikma Pharmaceuticals PLC, Meiji Holdings Co. Ltd., Novartis AG and Pfizer Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Application, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Accord Healthcare Ltd. (Intas Pharmaceuticals Limited), Baxter International Inc., Cadila Pharmaceuticals, Cipla Inc., Hikma Pharmaceuticals PLC, Meiji Holdings Co. Ltd., Novartis AG and Pfizer Inc.
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Global Doxorubicin Market to Reach US$ 2.0 Billion by 2032, Fueled by Increasing Prevalence of Various Types of Cancer

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