SAN FRANCISCO, Aug. 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Doxorubicin - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 601
Companies: 59 - Players covered include Accord Healthcare Ireland Ltd; Cadila Healthcare Limited; Changzhou Kinyond Pharmaceutical Co., Ltd; Cipla, Limited; Hikma Thymoorgan Pharmazie GmbH; Janssen-Cilag Pty Limited; Meiji Seika Pharma Co., Ltd.; MicroBiopharm Japan Co., Ltd.; Novartis International AG; Pfizer, Inc.; Reddyâ€™s Laboratories Ltd.; Synbias Pharma AG; Teva Pharmaceutical Industries Ltd; TTY Biopharm Company Limited and Others.
Coverage: All major geographies and key segments
Segments: Application (Breast Cancer, Lung Cancer, Ovarian Cancer, Multiple Myeloma, Liver Cancer, Leukemia, Kaposi Sarcoma, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Doxorubicin Market to Reach $1.3 Billion by 2026
Doxorubicin, a medical compound originally derived from Streptomyces peucetius bacterium, received approval for clinical use in the USA in 1974. Doxorubicin is available in different forms including pegylated and in liposomes versions. Doxorubicin is a key drug in the treatment of breast malignancy, Kaposi Sarcoma and several other diseases. Growth in the global market is set to be driven by rising incidence of cancer, development of technologically advanced systems for drug delivery, increasing awareness levels among patients and rising disposable incomes of people. Doxorubicin use is anticipated to increase significantly for ovarian cancer treatment and treatment of AIDS-related Kaposi's sarcoma following failure of systemic chemotherapy done previously. Increasing number of hepatocellular carcinoma and growing survival rates also constitutes a major growth driver.
Amid the COVID-19 crisis, the global market for Doxorubicin estimated at US$992.8 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 5.3% over the analysis period. Breast Cancer, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$313.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lung Cancer segment is readjusted to a revised 6.9% CAGR for the next 7-year period. This segment currently accounts for a 16.5% share of the global Doxorubicin market. Breast cancer represents a major category due to the constantly rising prevalence of breast cancer. Myocet, a non-pegylated liposomal doxorubicin, is approved in Canada and the European Union to treat metastatic breast cancer in combination with cyclophosphamide. Increasing incidence of lung cancer and rising awareness about available therapies is fueling demand for doxorubicin.
The U.S. Market is Estimated at $421.1 Million in 2021, While China is Forecast to Reach $106.6 Million by 2026
The Doxorubicin market in the U.S. is estimated at US$421.1 Million in the year 2021. The country currently accounts for a 40.56% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$106.6 Million in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$113.8 Million by the end of the analysis period. The US represents the largest regional market owing to the presence of a high number of people with different malignant tumors including lung, prostate, bladder, colon, breast and other malignancies. Use of the drug is high in the region, in mono as well as combination chemotherapies. The well-developed healthcare infrastructure facilities in the country and high adoption of technologically advanced treatment methods for cancer are positioning the US as a major market for cancer therapies. Asia-Pacific represents another key market, due to rising cancer prevalence in the region, increasing awareness about various cancer therapies, and growing collaborations between private and public sectors to offer new cancer therapies in the region.
Ovarian Cancer Segment to Reach $179.7 Million by 2026
Liposomal delivery systems have considerably improved the safety and efficacy of chemotherapeutic agents, in comparison to non-liposomal formulations. The increasing prevalence of ovarian cancer spurs growing use of various forms of liposomal doxorubicin such as Caelyx/Doxil. In the global Ovarian Cancer segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$122.9 Million in the year 2020 will reach a projected size of US$155.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$11.8 Million by the year 2026, while Latin America will expand at a 4.2% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.