Doxorubicin Market size to grow by USD 469.97 million from 2022 to 2027, North America to account for 47% of market growth- Technavio

NEW YORK, Oct. 18, 2023 /PRNewswire/ -- The doxorubicin market is expected to grow by USD 469.97 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 6.07% during the forecast period, according to Technavio Research. The market is segmented by formulation (lyophilized powder and doxorubicin injection), end-user (hospital pharmacy, retail pharmacy, online pharmacy, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). To gain access to more company profiles available with Technavio, buy the report!

North America is estimated to contribute 47% to the growth of the global market during the forecast period. Cancer is one of the most common chronic diseases in the region, under which, breast cancer is the most common type of cancer among women in the US according to the Centers for Disease Control and Prevention (CDC). Furthermore, to reduce overall cancer mortality and improve the quality of life for cancer patients, this region has been witnessing constant research and development activities within the oncology sector. Awareness initiatives are also contributing to the growth of the market in the region. Hence, these factors are expected to drive market growth in the region during the forecast period. 

Company Profile:

Aurobindo Pharma Ltd., Baxter International Inc., Cipla Ltd., Dr Reddys Laboratories Ltd., Glenmark Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Intas Pharmaceuticals Ltd., Johnson and Johnson, Meiji Holdings Co. Ltd., Merck KGaA, Mitsui and Co. Ltd., Novartis AG, Pfizer Inc., Pharmagen CZ s.r.o, Sun Pharmaceutical Industries Ltd., Synbias Pharma AG, TTY Biopharm Co. Ltd., Zydus Lifesciences Ltd., S. G. Biopharm Pvt. Ltd., and Teva Pharmaceutical Industries Ltd.

Baxter International Inc. - The company offers doxorubicin such as Doxorubicin HCl liposome injection.

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Doxorubicin Market: Segmentation Analysis

The market share growth by the lyophilized powder segment will be significant during the forecast period. Lyophilization has advantages, such as product stability in a dried state, removal of water without excessive heat, and increased storage capacity for dry powder.

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Doxorubicin Market: Market Dynamics

Key Drivers

• Growing prevalence of cancer cases
• Increasing product launches
• Advancements in diagnostic methods

The growing prevalence of cancer cases is a key factor driving the doxorubicin market growth. Breast, cervical, and prostate cancer are some of the most common types of cancer in the US. Risk factors such as diabetes, obesity, and non-alcoholic fatty liver disease are linked to cancer. In the area of cancer research and treatment, significant investments are being made by public bodies, research organizations, and pharmaceutical companies. In addition, long-term alcohol consumption is also the primary reason for the increase in the incidence of cancer. Furthermore, the increasing prevalence of new risk factors such as diabetes, obesity, and non-alcoholic fatty liver disease is associated with increased cancer incidence. Hence, these factors are expected to drive market growth during the forecast period.

Major Trend

The introduction of precision cancer medicine is a major trend influencing the doxorubicin market growth.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Formulation

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio