Doxorubicin Market is expected to reach US$ 1,983.40 Million by 2028

Drug Formulation to Lead Doxorubicin Market During 2022–2028

According to our latest study, titled “Doxorubicin Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Drug Formulation, Distribution Channel, and Geography," the market is expected to reach US$ 1,983.40 million in 2028 from US$ 1,390.64 million in 2022. It is estimated to grow at a CAGR of 6.1% during 2022–2028. The report highlights the key factors driving the doxorubicin market growth and prominent players with their developments in the global doxorubicin market. Key factors driving the market's growth are the increasing prevalence of cancer and the increasing preference for chemotherapy. However, the potential side effects associated with doxorubicin are expected to restrict the market growth during the forecast period.

The market for doxorubicin before the pandemic was constantly growing as regular cancer screening, consultations, and treatments were going on. The market was highly affected due to the outbreak of Covid-19. The first wave of COVID-19 disrupted the consultations, follow-ups, screenings, and oncological cases' treatments. As a result, health care systems were overburdened, and the delivery of medical care to all patients became a challenge in the region. In addition, most pharmaceutical and medical device companies and research institutes were engaged in developing COVID-19 vaccines and related products. The chaotic situation was created in the healthcare industry across the countries, leading to a reduced number of consultations and a smaller number of cancer cases diagnosed. For instance, international efforts suggest that the diagnoses of cancers were reduced by 40% between March 9 and May 17, 2020, compared to diagnoses averaged over the same period in 2018 and 2019. In its disruption of clinical trials and drug supply to patients, the COVID-19 pandemic has impacted the most crucial areas of the global doxorubicin market.

Based on drug formulation, the global doxorubicin market is segmented into lyophilized powder and doxorubicin injection. In 2022, the lyophilized powder will likely account for a larger market share. Moreover, the same segment is anticipated to register the highest CAGR in the market from 2022 to 2028. The major driving factor for the growth of the lyophilized powder segment is its storage stability, which maintains its solid state at room temperature. Lyophilized powder can be used as a chemotherapy drug against various cancer types, such as lymphoma, carcinoma, and various sarcomas. , Doxil is the first successful liposome-based product for treating patients with ovarian cancer and AIDs-related Kaposi’s sarcoma, which Johnson and Johnson manufactured.

Accord Healthcare, Cipla Inc., Dr. Reddy, Cadila Pharmaceuticals, Meiji Seika Pharma Co., Janssen Pharmaceutical (Johnson and Johnson Services, Inc.), Novartis AG, Pfizer, Inc., Sun Pharmaceutical Industries Ltd., and Baxter International Inc. are a few leading companies operating in the global doxorubicin market. In August 2021, Pfizer acquired Trillium Therapeutics Inc. With next-generation, experimental immuno-therapeutics for hematological malignancies, the proposed purchase expands Pfizer's category leadership in oncology. Furthermore, in June 2022, Drugmaker Cipla said that it has agreed to acquire an additional stake in digital tech company GoApptiv for Rs 25.90 crore. The company’s earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla’s channel reach across lower-tier towns in India. This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drugs and end-to-end brand marketing and channel engagement across tier 2-6 towns in India.

Global Doxorubicin Market, by Geography, 2022 (%)

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Doxorubicin Market Strategic Insights and Updates by 2031

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Doxorubicin Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Drug Formulation (Lyophilized Powder and Doxorubicin Injection), Application (Breast Cancer, Kidney Cancer, Liver Cancer, Sarcoma, Ovarian Cancer, Lung Cancer, Leukemia, Multiple Myeloma, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

The report segments the global doxorubicin market as follows:

Based on Drug Formulation, the global doxorubicin market is bifurcated into Lyophilized Powder and Doxorubicin Injection. Based on the Application, the global doxorubicin market is segmented into Lung Cancer, Sarcoma, Breast Cancer, Multiple Myeloma, Ovarian Cancer, Kidney Cancer, Leukemia, Liver Cancer, and Others. Based on Distribution Channel, the global doxorubicin market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy.

Based on Geography, the global doxorubicin market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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