The doxorubicin market size is projected to reach US$ 2.35 billion by 2031 from US$ 1.47 billion in 2023. The market is expected to register a CAGR of 6.1% during 2023–2031. The increasing approval of generic products is likely to remain a key trend in the doxorubicin market.
Factors such as increasing preference for chemotherapy and rising prevalence of cancer are driving the market growth. Moreover, the increasing government funding, guidance, and technical assistance for cancer prevention is providing significant opportunities for the future growth of the doxorubicin market players.
Doxorubicin is used in chemotherapy to treat a different type of cancers, including bladder cancer, breast cancer, lymphoma, and other. It is injected intravenously alongside other chemotherapy medicines and is marketed under various brand names, including Adriamycin and Caelyx, among others. Adriamycin is a popular anthracycline chemotherapy medication that inhibits the development of cancer cells.
Spending on anticancer drugs is essential to incurring excess healthcare costs. Both targeted therapy and chemotherapy significantly improve cancer patient's chances of survival. These therapies may bring about the complete reduction of a tumor. The demand for chemotherapy has surged globally, owing to the benefits. According to an article published in Lancet Oncology, the number of patients requiring chemotherapy will rise by 53% from 2018 to 2040. Advanced cancer treatments improve patient survival and increase long-term outpatient chemotherapy requirements. More exposure to chemotherapy results in a greater demand for doxorubicin drugs, thereby boosting the market growth.
Many programs have started by various countries for effective and rapid treatment for cancer. For instance, in June 2020, the University of Missouri School of Medicine received a grant of nearly US$ 3.5 million from the National Institutes of Health to study a pre-treatment for chemotherapy that might protect the patients of cancer suffering from therapy-induced heart complications. Thus, increasing government support as grants and assistance are supporting significant growth opportunities for the doxorubicin drug manufacturers.
Key segments that contributed to the derivation of the doxorubicin market analysis are drug formulation, application and distribution channel.
The geographic scope of the doxorubicin market report encompasses five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. North America dominated the doxorubicin market in 2023. The continuous growth in the pharmaceutical industry, rising prevalence of various cancers, and increasing R&D initiatives by the key players are the driving factors for the doxorubicin market in North America, which are propelling the market's expansion in this region.
The regional trends and factors influencing the Doxorubicin Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Doxorubicin Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.47 Billion |
| Market Size by 2031 | US$ 2.35 Billion |
| Global CAGR (2023 - 2031) | 6.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Drug Formulation
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Doxorubicin Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Doxorubicin Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The doxorubicin market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the market are mentioned below:
The “Doxorubicin Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
North America dominated the market in 2023.
Increasing prevalence of cancer and increasing preference for chemotherapy are the major factors bolstering the market.
The increasing approval of generic products is likely to emerge as a significant trend in the market in the future.
Accord Healthcare, Cipla Inc., Dr. Reddy's Laboratories, Meiji Holdings Co. Ltd., Janssen Pharmaceuticals (Johnson and Johnson Services, Inc.), Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd, Baxter International Inc., Zydus Cadila are the leading players operating in the doxorubicin market.
The estimated value of the market by 2031 will be US$ 2.35 billion.
The market is estimated to record a CAGR of 6.1% during 2023–2031.