6th January 2020 – Global 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.
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.
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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.
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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