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Dactinomycin Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Dactinomycin Market Size
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According to The Business Research Company's, The dactinomycin market size has grown steadily in recent years. It will grow from $6.58 billion in 2023 to $6.76 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to the discovery of actinomycin's, clinical development and approval, development in pediatric oncology, ongoing research, and evolution of chemotherapy.
The dactinomycin market size is expected to see steady growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 3%. The growth in the forecast period can be attributed to the incidence and prevalence of target cancers, market access and reimbursement, cost-effectiveness, new drug delivery systems, and healthcare access and infrastructure. Major trends in the forecast period include personalized medicine, new formulations, bioinformatics and data analytics, advances in biomarker discovery, and imaging and monitoring technologies.
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Market Drivers and Trends:
The rising incidence of cancers is expected to propel the growth of the dactinomycin market going forward. The incidence of cancer is rising due to several reasons, including the aging population, lifestyle factors, environmental exposures, and genetic predisposition. Dactinomycin helps in the cancer treatment by targeting and inhibiting DNA transcription, which disrupts cancer cell proliferation. Its use in chemotherapy helps to reduce tumor growth. For instance, in February 2024, according to the World Health Organization, a Switzerland-based specialized agency responsible for international public health, by 2050, over 35 million new cancer cases are projected, representing a 77% increase from the estimated 20 million cases in 2022. Therefore, the rising incidence of cancer is driving the growth of the dactinomycin market.
Rising Cases of Bacterial Infection Boost The Dactinomycin Market
The rising prevalence of bacterial infections is expected to drive the dactinomycin market going forward. Bacterial infections refer to infections caused by bacteria, which are microscopic single-celled organisms. Dactinomycin are extremely helpful in the cancer treatment and prevention of bacterial diseases because they prevent the growth of cancer and other bacteria. For instance, in February 2023, according to the World Health Organization, a Switzerland-based specialized health agency of the United States, 30 countries in the world were suffering from a cholera epidemic in 2022. The case fatality ratio (CFR) of cholera was 1.9% in 2021, which was the highest recorded in a decade. Additionally, in April 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, syphilis cases in the United States increased by 32% in 2021 as compared to 2020. Therefore, the rising prevalence of bacterial infections is driving the dactinomycin market.
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Major Key Players of the Market:
Merck KGaA, Baxter International Inc., Teva Pharmaceutical Industries Limited, Recordati Rare Diseases Inc., Zhejiang Hisun Pharmaceutical Co. Ltd., Concord Biotech Limited, Celon Laboratories Limited, Prasco LLC, Cayman Chemical Company, Santa Cruz Biotechnology Inc., Rochem International Inc., AdvaCare International, Health Biotech Limited, Neon Laboratories Ltd., X-GEN Pharmaceuticals Inc., Florencia Healthcare, SGPharma Pvt. Ltd., BOC Sciences, Manus Aktteva Biopharma LLP, Angle Bio Pharma, Enomark Healthcare Pvt. Ltd., Meitheal Pharmaceuticals Inc
Dactinomycin Market 2024 Key Insights:
• The dactinomycin market size is expected to see steady growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 3%.
• Incidence Of Cancers Propel Growth Dactinomycin Market
•
• North America was the largest region in the dactinomycin market in 2023
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