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Liposomal Doxorubicin Market Analysis: Growth, Size, and Emerging Trends
Liposomal Doxorubicin Global Market Report 2024
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According to The Business Research Company's, The liposomal doxorubicin market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to improved liposome formulations, favorable reimbursement policies for cancer treatments, growing awareness about the importance of cancer screening programs, enhanced healthcare infrastructure, and increasing patient preference for minimally invasive cancer treatments.
The liposomal doxorubicin market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising awareness about cancer treatment options, increasing clinical trials, increasing adoption of combination therapies, rising healthcare expenditure, and growing preference for targeted therapies. Major trends in the forecast period include the integration of artificial intelligence (AI) and machine learning algorithms to facilitate drug discovery, utilizing 3D printing technologies, magnetic targeting methods, innovative strategies such as tumor-penetrating peptides or ultrasound-mediated drug delivery, and advancements in drug delivery technology.
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Market Drivers and Trends:
The rising prevalence of cancer is expected to propel the growth of the liposomal doxorubicin market going forward. Cancer refers to a category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their normal boundaries, and either spread to other organs or invade neighboring body parts. Cancer cases are rising due to factors such as an aging population, lifestyle changes, environmental exposures, and improved diagnostic techniques. Liposomal doxorubicin is used in cancer treatment to enhance drug delivery to tumors, reduce toxicity, and improve therapeutic outcomes. 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 compared to more than 1.8 million new cancer cases diagnosed in 2020. Therefore, the rising prevalence of cancer is driving the growth of the liposomal doxorubicin market.
Major companies operating in the liposomal doxorubicin market are focusing on developing enhanced drug delivery systems, such as PEGylated liposomes to improve the pharmacokinetics and biodistribution of doxorubicin, leading to better patient outcomes. These innovations enhance the efficiency and precision of drug delivery, ensuring that medications are more effectively targeted to cancer cells while minimizing side effects. For instance, in May 2022, Accord Healthcare Limited, a US-based pharmaceutical company, launched Zolsketil, a pegylated liposomal 2mg/ml concentrate for dispersion for infusion. This product is a generic version of the cancer medication doxorubicin, which is commonly used to treat various types of cancer.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, AbbVie Inc., AstraZeneca plc, Takeda Pharmaceutical Company, Eli Lilly and Company, Amgen Inc., Teva Pharmaceutical Industries Ltd, Baxter International Inc., Astellas Pharma, Sun Pharmaceutical Industries Ltd, Jazz Pharmaceuticals, Cipla Inc., Endo Pharmaceuticals, Lupin Limited, Mallinckrodt Pharmaceuticals, Zydus Cadila, Accord Healthcare Limited, Shanghai Fudan-zhangjiang Bio-Pharmaceutical Co.Ltd, TTY Biopharm Company Limited, SRS Life Sciences
Liposomal Doxorubicin Market 2024 Key Insights:
• The liposomal doxorubicin market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Prevalence Of Cancer Fuels Growth In Liposomal Doxorubicin Market
• Introduction Of Advanced Drug Delivery Systems To Enhance The Efficiency And Precision Of Drug Delivery
• North America was the largest region in the liposomal doxorubicin market in 2023
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