Report : Asia Pacific Doxorubicin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – 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), and Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy)
At 7.0% CAGR, the APAC Doxorubicin Market is speculated to be worth US$ 386.82 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC doxorubicin market was valued at US$ 257.33 million in 2022 and is expected to reach US$ 386.82 million by 2028, registering an annual growth rate of 7.0% from 2022 to 2028. Increasing preference for chemotherapy and increasing approval of generic products are the critical factors attributed to the market expansion.
Spending on anticancer drugs is essential to incurring excess healthcare costs. Both chemotherapy and targeted therapy significantly improve cancer patients' chances of survival and quality of life. These therapies may bring about the complete remission of a tumor. Owing to these benefits, the demand for chemotherapy has surged across the region. 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 across the region.
On the contrary, potential side-effects associated with doxorubicin hurdles the growth of APAC doxorubicin market.
- Based on drug formulation, the APAC doxorubicin market is bifurcated into lyophilized powder and doxorubicin injection. The lyophilized powder segment held 68.0% market share in 2022, amassing US$ 174.93 million. It is projected to garner US$ 396.83 million by 2028 to expand at 7.2% CAGR during 2022–2028.
- Based on application, the APAC doxorubicin market is segmented into breast cancer, kidney cancer, liver cancer, sarcoma, ovarian cancer, lung cancer, leukemia, multiple myeloma, and others. The breast cancer segment held 22.7% market share in 2022, amassing US$ 58.36 million. It is projected to garner US$ 82.79 million by 2028 to expand at 6.0% CAGR during 2022–2028.
- Based on distribution channel, the APAC doxorubicin market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 61.4% market share in 2022, amassing US$ 157.89 million. It is projected to garner US$ 240.11 million by 2028 to expand at 7.2% CAGR during 2022–2028.
- Based on country, the APAC doxorubicin market has been categorized into China, India, Japan, South Korea, Australia, and rest of APAC. Our regional analysis states that China captured 36.1% market share in 2022. It was assessed at US$ 92.98 million in 2022 and is likely to hit US$ 146.25 million by 2028, exhibiting a CAGR of 7.8% during the forecast period.
Key players dominating the APAC doxorubicin market are Accord Healthcare; Baxter International Inc.; Cipla Inc.; Dr. Reddy's Laboratories; Janssen Pharmaceuticals (Johnson & Johnson Services, Inc.); Meiji Holdings Co., Ltd.; Novartis AG; Pfizer Inc.; Sun Pharmaceutical Industries Ltd; and Zydus Cadila among others.
- In July 2021, Sun Pharma launches ‘Sankalp’ on National Doctors’ Day As a special tribute, announces various initiatives for the welfare of doctors, their families, and the community. Sun Pharma has committed Rs. 100 crores towards these initiatives, which includes the donation of Covid19 medicines to communities at large through local & state government institutions.
- In July 2020, Sun Pharma and AstraZeneca entered into a License Agreement for Novel Oncology products in China. Sun Pharmaceutical Industries Ltd. announced that it has entered into a license agreement with AstraZeneca UK Ltd. (AstraZeneca) to launch certain novel ready-to-use (RTU) infusion oncology products in China.
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