The market for Doxorubicin is majorly driven by the rising cases of cancer across the globe. As per the statistics provided by the National Cancer Institute (NCI), 1,762,450 new cancer cases and 606,880 cancer deaths are estimated for the year 2019. During the year 2018, the new cancer cases were around 1,735,350. The incidence of cancer given by the NCI is around 439.2 per 100,000 individuals per year.
Along with that, the mortality due to cancer is also on the rise and it is around 196.8 per 100,000 men and 139.6 per 100,000 women. During the year 2017, 15,270 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,790 were died due to the same.
However, in the year 2016, 15.5 million people have survived cancer in the United States, and this number is expected to reach up to 20.3 million by 2026. This indicates that due to the available treatment options, mortality due to the disease is being prevented and the same trend will be seen in the coming future.
Key Market Trends
Doxorubicin Market in Breast Cancer Segment is Expected to Witness Better CAGR Over the Forecast Period
Despite the fact that doxorubicin is used to treat several types of cancers, the most common cancer that can be treated with the same is breast cancer. Cancer has become the leading cause of death across the globe and there were around 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer, as stated by the World Health Organization (WHO).
According to WHO, the number of cases of Breast Cancer that were found in the year 2018 was around 2.09 million which is similar to that of lung cancer cases for that year. American Cancer Institute has stated that Doxorubicin is used during the advanced breast cancer treatment as a chemo drug. It is observed that currently, 3 million women diagnosed with breast cancer are there in the United States. Due to the rising burden of disease, a large number of people are going for the treatment which is ultimately helping the market studied to grow. Therefore, it is estimated that breast cancer segment will show rapid growth over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is expected to dominate the market throughout the forecast period. The growing number of cancer cases and subsequently increasing usage of the doxorubicin in mono and combination chemotherapies are going to impact the market. Moreover, the increasing number of mergers and acquisitions and partnerships for clinical trials with technologically advanced doxorubicin formulations is one of the crucial factors driving the market in this region.
The market for Doxorubicin consists of the few players which are big pharmaceutical companies. Some of the major players of the market include Cadila Pharmaceuticals, Cipla, Limited, Pfizer, Inc., Johnson & Johnson (Janssen Pharmaceutical) among others. With the growing focus on cancer reduction across the globe, more pharmaceutical companies are expected to penetrate the market in the coming future.
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