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Anthracycline Market Report 2024: Global Size, Share, Growth, Trends, Forecast, Key Players, Outlook to 2033
Anthracycline Market Report
According to The Business Research Company's, The anthracycline market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rising prevalence of cancer, growing demand for personalized cancer treatment, rising awareness of the benefits of anthracyclines, investment in anthracycline .
The anthracycline market size is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing awareness about cancer treatment, investments in research and development for cancer treatments, growing demand for effective and convenient treatments for cancer, growing number of screening programs for cancer, government initiatives. Major trends in the forecast period include advancements in anthracycline formulations, combination therapies, cardioprotective strategies, developing biosimilars of anthracyclines.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the anthracycline market going forward. Cancer is a category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries and either spread to other organs or invade neighboring body parts. Anthracycline, a class of chemotherapy drugs, plays a significant role in cancer treatment as it prevents cell division by disrupting the structure of the DNA and terminating its function. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1.9 million new cancer cases are expected to be diagnosed in the US, an increase from 1.8 million new cancer cases diagnosed in 2020. Further, around 609,820 cancer-related deaths are anticipated in 2023, with an expected 606,520 in 2020. Therefore, the increasing prevalence of cancer is driving the growth of the anthracycline market.
Major companies operating in the anthracycline market are focused on developing innovative novel drugs such as Doxorubicin Liposome Injection to sustain their position in the market. For instance, in October 2021, Padagis LLC, an Israel-based pharmaceutical company that produces generic prescription medicines, announced the FDA's (Food and Drug Administration) approval and launch of a generic version of Doxil (Doxorubicin Liposome Injection) with an AB rating. The company has launched the drug through a partnership with Ayana Pharma Ltd., an Israel-based developer of liposomal drugs for cancer therapeutics. Doxil liposome injection is an anthracycline topoisomerase inhibitor used to treat ovarian cancer, Kaposi's sarcoma related to AIDS (acquired immunodeficiency syndrome) and multiple myeloma. This treatment functions by inhibiting or decelerating the proliferation of cancerous cells. It is introduced into a vein through an injection lasting 30-60 minutes or more.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb Company, Fresenius SE & Co. KGaA, Merck & Co. Inc., Gilead Sciences Inc., Zydus Lifesciences Limited, Viatris Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Jazz Pharmaceuticals Inc., Gland Pharma Limited, Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Amneal Pharmaceuticals Inc., Zhejiang Hisun Pharmaceutical Co. Ltd., Accord Healthcare Limited, Athenex Inc., Miracalus Pharma Pvt. Ltd., Transo-Pharm Usa LLC, BluePoint Laboratories, Areva Pharmaceuticals Inc., GeneraMedix Inc., Salius Pharma Pvt. Ltd.
Anthracycline Market 2024 Key Insights:
• The anthracycline market is expected to grow to$1.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Cancer Prevalence Fuels Growth In The Anthracycline Market
• Innovative Approaches And Generic Offerings Shape The Anthracycline Production
• Asia-Pacific was the largest region in the anthracycline market in 2023.
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