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.
New York, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Doxorubicin Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Formulation, Application, and Distribution Channel" - https://www.reportlinker.com/p06316343/?utm_source=GNW
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.
A few of the recent developments related to doxorubicin are mentioned below:
• In October 2021, Padagis received FDA approval and launched an AB-rated generic version of Doxil (Doxorubicin Liposome Injection) through its partnership with Ayana Pharma Ltd.
• In September 2020, Zydus Cadila received final approval for the commercialization of its generic Doxorubicin Hydrochloride Liposome Injection by the US FDA for cancer treatment in the US.
• In September 2018, Hikma Pharmaceuticals USA Inc., a subsidiary of Hikma Pharmaceuticals PLC, launched Adriamycin (DOXOrubicin HCl) for Injection as a part of multi-agent adjuvant chemotherapy for treatment of women with axillary lymph node association following resection of primary breast cancer.
• In May 2018, Dr. Reddy’s received approval from US FDA to launch Doxorubicin Hydrochloride Liposome Injection in the US market. The US FDA approval resulted from extensive collaboration with partner NatcoPharma Limited on R&D and manufacturing capabilities.
Thus, approval of generic substitution for frequently used chemotherapy drugs, such as doxorubicin, in treating common cancers has a vast potential to increase significant cost savings and rising access to cancer treatments in low- and middle-income countries.
Moreover, the COVID-19 pandemic disrupted the socioeconomic conditions of various countries worldwide.The cost of overall healthcare is surging significantly in North America.
The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the country in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% reported that they needed care but did not either schedule or receive care. The COVID-19 pandemic altered economic conditions and social behaviors in North American countries. Containment measures enacted by governments to mitigate the spread of disease changed the US healthcare service delivery pattern. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices
According to Cancer Statistics, 2022, published in the American Cancer Society’s journal, data from 2015 to 2019 indicated a 0.5% annual increase in female breast cancer. At the same time, the incidence of prostate cancer remained stable. Thus, the increasing number of cancer patients worldwide is projected to drive global doxorubicin market growth.
Based on Drug Formulation, the global doxorubicin market is segmented into lyophilized powder and doxorubicin injection.In 2022, the lyophilized powder segment accounted for a greater market share.
The market position of this segment is increasing prevalence of cancer and rising preference of chemotherapy.
The global doxorubicin market, based on application, has been categorized into lung cancer, sarcoma, breast cancer, multiple myeloma, ovarian cancer, kidney cancer, leukemia, liver cancer, and others. The breast cancer segment is likely to dominate the market in 2022. The segment is expected to grow in the upcoming forecast period due to the increasing prevalence of breast cancer treatment using chemotherapy
The global doxorubicin market, based on distribution channel, has been categorized into hospital pharmacy, retail pharmacy, and online pharmacy.The hospital pharmacy segment is likely to hold the largest share of the market in 2022.
The segment is expected to grow in the upcoming forecast period due to rising number of chemotherapy procedures in the hospitals.
The World Health Organization (WHO), National Healthcare Service (NHS), Centers for Disease Control and Prevention (CDC), Canadian Partnership Against Cancer (CPAC), United States Cancer Statistics (USCS), Globocan Statistics 2020, World Bank Data, North American Free Trade Agreement (NAFTA), and Australian Institute of Health and Welfare are among the major secondary sources referred to while preparing the report on the global doxorubicin market.
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