Report : Europe 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 5.7% CAGR, the Europe Doxorubicin Market is speculated to be worth US$ 568.58 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe doxorubicin market was valued at US$ 408.36 million in 2022 and is expected to reach US$ 568.58 million by 2028, registering an annual growth rate of 5.7% from 2022 to 2028. Increasing government funding, guidance, and technical assistance for cancer prevention and increasing prevalence of cancer are the critical factors attributed to the market expansion.
Various countries have introduced missions and programs for rapid and effective cancer treatment. For Example, in 2020, the National Comprehensive Cancer Control Program provided funding, guidance, and technical assistance to help programs implement cancer prevention and control plans. Furthermore, government funding for cancer prevention in various countries offers significant growth opportunities for the market. Thus, with rising cancer prevalence and increasing government support as funding, guidance, and assistance, emerging countries are providing significant growth opportunities to manufacturers operating in the line doxorubicin drug market across the region.
On the contrary, potential side-effects associated with doxorubicin hurdles the growth of Europe doxorubicin market.
- Based on drug formulation, the Europe doxorubicin market is bifurcated into lyophilized powder and doxorubicin injection. The lyophilized powder segment held 68.9% market share in 2022, amassing US$ 281.37 million. It is projected to garner US$ 396.83 million by 2028 to expand at 5.9% CAGR during 2022–2028.
- Based on application, the Europe 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 22.4% market share in 2022, amassing US$ 91.64 million. It is projected to garner US$ 120.62 million by 2028 to expand at 4.7% CAGR during 2022–2028.
- Based on distribution channel, the Europe doxorubicin market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 64.4% market share in 2022, amassing US$ 262.94 million. It is projected to garner US$ 369.77 million by 2028 to expand at 5.8% CAGR during 2022–2028.
- Based on country, the Europe doxorubicin market has been categorized into the UK, Germany, France, Italy, Spain, and rest of Europe. Our regional analysis states that the UK captured 24.8% market share in 2022. It was assessed at US$ 101.37 million in 2022 and is likely to hit US$ 149.94 million by 2028, exhibiting a CAGR of 6.7% during the forecast period.
Key players dominating the Europe 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 oct 2021, Johnson & Johnson announced that it has acquired Momenta Pharmaceuticals, the acquisition expands Janssen's leadership position in autoimmune diseases and represents an important catalyst for sustained growth.
- In March 2022, Arena Pharmaceuticals, a business in the clinical stages of researching novel potential treatments for the treatment of various immuno-inflammatory illnesses, was acquired by Pfizer Inc.
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