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Global Doxorubicin Market to Grow at a CAGR of 6.4% During 2021-2026, Aided by the Research Improvements

According to a new report by EMR titled, ‘Global Doxorubicin Market Report and Forecast 2021-2026’, the market attained a value of about USD 1,075.90 million in 2020. The industry is further expected to grow at a CAGR of 6.4% in the forecast period of 2021-2026 to reach a value of nearly USD 1,564.30 million by 2026.

Doxorubicin has the largest established regional market in North America. This dominance can be attributed to the highest global incidence of cancer cases and the growing number of research facilities, as well as pharmaceutical companies working to counter the disease. Cancer can usually be detected only at the later stages owing to the lack of evident symptoms of the disease in its nascent stages. Hence, the drug has extensive use in the region that results in a comparatively lower mortality rate. Further, the most common application of doxorubicin is found in the disease segment of breast cancer, which accounts for the largest share of cancer cases worldwide. Since the mortality rate associated with breast cancer is relatively low, doxorubicin application is extensive in the segment due to the higher chances of survival. According to the statistics, the mortality rate associated with breast cancer was 30.3% in 2020, which is the lowest among all the causes. Hence, the growth of this application segment is estimated to continue over the forecast period.

In April 2020, the National Cancer Institute (NCI), United States, announced the identification of an experimental drug called BAI1, which is found to protect against cardiomyopathy, which is a side effect of consuming doxorubicin, potentially leading to heart failure. This will not only improve the treatment for cancer patients but also counter the hurdle against the market growth for doxorubicin. More recently, in June 2021, a team led by Dr. Ju Hee Ryu of the Centre for Theragnosis at the Korea Institute of Science and Technology (KIST) announced the development of a prodrug for anti-cancer immunotherapy that utilises the immunity-boosting potential of doxorubicin. This development will reduce the toxic effect of doxorubicin on normal cells reducing its side effects to a great extent. In addition to this, healthy competition among the industry key players, such as Pfizer Inc. (NYSE: PFE) and Sun Pharmaceutical Industries Limited, is expected to augment the market growth over the market growth.

Market Analysis by Application and Region:

  • The applications for doxorubicin include ovarian cancer, multiple myeloma, kaposi sarcoma, leukaemia, bone sarcoma, breast cancer, endometrial cancer, gastric cancer, liver cancer, and kidney cancer, among other cancers.
  • The regional markets for doxorubicin include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing cancer incidences and related death cases is one of the significant drivers for the market growth of doxorubicin.
  • Doxorubicin is effective in the later stages of cancer; hence, the late discovery of the disease, which is the case most of the time, provides an opportunity for the product demand.
  • The steps taken by the government to boost the healthcare sector and improve diagnostics and treatment for chronic and malignant diseases, like cancer, provides a boost to the growth of the market.
  • The irreversible track of changing lifestyles of people around the world is a major source of carcinogens, from day-to-day utilities like mobile radiation, air-conditioner, among others. This continuing trend is another reason for the demand for doxorubicin to grow further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for doxorubicin for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and regions of doxorubicin.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global doxorubicin market are Pfizer Inc., Sun Pharmaceutical Industries Limited, Cipla, Inc., and Cadila Pharmaceuticals Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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