Doxorubicin Market: Business Opportunities, Competition & Key Companies, Current Trends and Challenges
The global Doxorubicin Market Trends accounts for USD 916.5 million in 2017 and expected to register steady growth rate of 6.5% during the forecast period.
Doxorubicin is a type of chemotherapy medicine called an anthracycline. It is used to reduce or diminish the growth of cancer cells by blocking an enzyme called topo isomerase. Factors that are propelling the growth of the doxorubicin market are surge in geriatric population, rising prevalence of different types of cancer, increasing awareness for cancer treatment. According to the International Federation of Pharmaceutical Manufacturers & Associations, global pharmaceutical industry has spent more than USD 149.8 billion on pharmaceutical Research and development activities.
The various side effects, cost containment policies by various governments, stringent regulatory environment for product approval, are likely to hinder market growth during the forecast period.
The American market is expected to dominate the global doxorubicin market during the forecast period due to the presence of major manufacturers, increase in number of cancer cases, awareness for the treatment of cancer, and favorable reimbursement and regulatory authorities. The European market is expected to be the second-largest due to growing pool of cancer patients and rising healthcare expenditure. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing geriatric population in countries such as India and China, increasing awareness programs for the treatment of cancer, government initiatives and investment for the development of healthcare sector and increasing number manufacturers finding opportunities in developing countries. The market in the Middle East & Africa is likely to account for the smallest share of the global doxorubicin market.
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The global doxorubicin market has been segmented on the basis of application, and distribution channel.
The application segment is divided into liver cancer, gastric cancer, breast cancer, bone sarcoma, prostate cancer, stomach cancer, ovarian cancer, leukemia and others.
The market, by distribution channel, has been segmented into hospital pharmacy, retail pharmacy and others.
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Some of the key players in the global Doxorubicin market are Doxorubicin market are Pfizer, Inc, Sun Pharmaceutical Industries Ltd., Janssen Pharmaceuticals, Accord Healthcare, Novartis AG, Sandoz, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceuticals, GLENMARK PHARMACEUTICALS LTD. and various others