
Published On: Oct 2022
Published On: Oct 2022
At 6.3% CAGR, the North America Doxorubicin Market is projected to be worth US$ 888.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America doxorubicin market was valued at US$ 617.61 million in 2022 and is expected to reach US$ 888.89 million by 2028, registering an annual growth rate of 6.3% from 2022 to 2028. Increasing prevalence of cancer and increasing government funding, guidance, and technical assistance for cancer prevention are the critical factors attributed to the market expansion.
Cancer has become one of the leading causes of death across the region. According to the World Health Organization (WHO), cancer was the first leading cause of death in people below 70 years in several countries across the region. The increasing prevalence of cancer has burdened healthcare systems across the region, bolstering the demand for chemotherapy. Doxorubicin is one of the primary drugs used as first-line treatment in chemotherapy. The drug is used to induce regression in disseminated neoplastic diseases, such as breast, ovarian, transitional cell bladder, thyroid, gastric, acute lymphoblastic leukemia, acute myeloblastic leukemia, Wilms' tumor, neuroblastoma, soft tissue and bone sarcomas, Hodgkin's disease, malignant lymphoma, and bronchogenic carcinomas. The drug is also recommended as adjuvant therapy in women who have had primary breast cancer removed and have axillary lymph node involvement. Although there may be a decline in the overall cancer mortality rate, certain types of cancer are on the rise. For Instance, according to Cancer Statistics, 2022, published in the American Cancer Society’s journal, the data from 2015 to 2019 indicated a 0.5% annual increase in female breast cancer cases. At the same time, the incidence of prostate cancer remained stable. Thus, the rising number of cancer patients is driving the doxorubicin market across the region.
On the contrary, potential side-effects associated with doxorubicin hurdles the growth of North America doxorubicin market.
Key players dominating the North America 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.
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