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Doxorubicin Global Market Size, Top Companies, Share, Growth And Forecast 2033 | Pfizer Inc., Johnson and Johnson, Baxter International Inc., Hospira Inc., Dr. Reddy's Laboratories Ltd.
Doxorubicin Global Market
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According to The Business Research Company's, The doxorubicin market size has grown strongly in recent years. It will grow from $1.23 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to chemotherapy advancements, oncology treatment standard, clinical efficacy, patient survival rates, physician recommendations.
The doxorubicin market size is expected to see strong growth in the next few years. It will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to personalized medicine advancements, targeted drug delivery systems, immunotherapy combinations, genomic and biomarker research, precision oncology growth. Major trends in the forecast period include nanotechnology integration, combination therapies, biosimilar market expansion, adjuvant therapy focus, cardioprotective interventions.
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Market Drivers and Trends:
The increasing prevalence of cancer is driving the doxorubicin market forward. Cancer is a group of diseases in which cells grow abnormally and uncontrollably. Doxorubicin is a common antibiotic used in chemotherapy to treat distinct types of cancers, as it limits the growth of cancer cells by damaging their DNA. The growing incidence of cancer has led to a higher demand for doxorubicin. For instance, according to the 2021 American Cancer Society report, 1.8 million new cases of cancer diagnosed were diagnosed in 2020. Furthermore, according to September 2020 data published by the National Cancer Institute, a US-based government agency part of the National Institutes of Health, 1,806,590 new cancer cases were recorded, indicating that 43% of all cancer diagnosed in men in the United States in 2020, up from 1,752,735 in the previous year, i.e., 2019. Thus, the increasing prevalence of cancer patients is driving the doxorubicin market.
Advancements in drug Investigation are a key trend gaining popularity in the doxorubicin market. Major companies in the doxorubicin market are working on innovative technologies to launch advanced products, such as injections, to sustain their position in the market. For instance, in October 2021, Padagis, a US-based healthcare company, received approval for its AB-rated generic version of Doxil (Doxorubicin Liposome Injection) from the US Food and Drug Administration, a US-based health regulatory agency. The new drug is an anthracycline topoisomerase inhibitor used for treating ovarian cancer, sarcoma, and multiple myeloma. It is also used in the treatment of multiple myeloma alongside bortezomib. Doxorubicin liposome is a cancer medication that acts as an antineoplastic agent.
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Major Key Players of the Market:
Pfizer Inc., Johnson and Johnson, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Hospira Inc., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals, Mylan Pharmaceuticals Inc., VHB Life Sciences Limited, Xi'an International Healthcare Factory Co. Ltd., Accord Healthcare Ltd., TTY Biopharm Company Limited, Cadila Pharmaceuticals, Neon Laboratories Limited, APP Pharmaceuticals Manufacturing LLC, Sun Pharmaceutical Industries Ltd., Transo-Pharm Handels GmbH, LGM Pharma, Zhejiang Hisun Pharma, Actavis Pharma, Celon Laboratories Limited, Samarth Life Sciences Pvt. Ltd
Doxorubicin Market 2024 Key Insights:
• The doxorubicin market size is expected to see strong growth in the next few years. It will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Increasinng Cancer Cases Boost Doxorubicin Market
• Drug Innovation For Myeloma Treatment
• North America was the largest region in the doxorubicin market in 2023
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