Doxorubicin Market is expected to reach USD 1.38 billion by 2024. Doxorubicin is an anticancer chemotherapy drug, a generic name for the trade name drug Rubex® and Adriamycin®. It is injected into a vein. It is an essential medicine on the World Health Organization's List, the safest and effective medicines needed in a health system. The Doxorubicin Market is estimated to grow at a significant CAGR of 6.4% over the forecast period as the scope and its applications are rising enormously across the globe.
Growing
presence of cancer patients across the globe, increasing number of
manufacturers in the market to control the shortage of drugs, and developed
laboratories with the latest technological equipment’s for research are
documented as the major driving factors for Doxorubicin Market. Also, inclusion
of doxorubicin drug in several applications like neuroblastoma, AIDS-related
Kaposi Sarcoma, and others may boost the overall market in the years to come.
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However,
side effects of drugs and high cost of treatment are the factors that may
restrain overall market growth in the coming years. Doxorubicin Industry is
segmented based on formulation, cancer type, distribution channel, and region.
Doxorubicin injection and lyophilized doxorubicin powder are the formulations
that could be explored in Doxorubicin in the forecast period.
There
are several types of cancer like Leukemia, Breast Cancer, Stomach Cancer,
Prostate Cancer, Bladder Cancer, Ovary Cancer, Lung Cancer, and others that
could be explored in Doxorubicin in the forecast period. Breast cancer and
prostate cancer accounted for the majority market share in 2017 and are
estimated to lead the overall market in the years to come. This may be because
of rising number of people suffering from breast and prostate cancer.
The
market may be categorized based on distribution channel like E-Commerce, Retail
Pharmacies, Hospitals Pharmacies, and others could be explored in the forecast
period. Globally, North America accounted for the substantial market share of
Doxorubicin in 2017 and is estimated to continue with its dominance in the near
future. The reason behind the overall market growth could be presence of
developed healthcare infrastructure, presence of key manufacturers in the
region, and increasing number of cancer epidemiology. The United States is a
major consumer of Doxorubicin in this region.
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Europe
and the Asia Pacific are also estimated to have a positive influence on the
future growth. Europe is the second largest region with significant market
share. However, Asia Pacific is estimated to grow at the fastest pace in the
foremost period. The aspects that may be ascribed to the growth comprise rising
pharmaceutical market, developing healthcare infrastructure and growing
occurrence of cancer mainly gastric cancer and lung cancer among population.
The developing countries like India, Japan, and China are the major consumers
of Doxorubicin in this region.
The
key players of Doxorubicin Market are Synbias Pharma, Pfizer Inc.,
MicroBiopharm Japan Co., Ltd., Johnson & Johnson Services, Inc., Teva
Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., and Meiji
Seika Pharma Co., Ltd. These players are concentrating on inorganic growth to
sustain themselves amongst fierce competition. As companies all over the world
have to believe that alliance with a market would permit them proportional
market existence and authority to declare the leadership position.
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