Market Size of Global Doxorubicin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Doxorubicin Market Analysis
The doxorubicin market is expected to record a CAGR of over 6.5% during the forecast period (2022-2027).
The outbreak of COVID-19 impacted every aspect of the healthcare industry, including the market for doxorubicin, with significant disruptions to businesses and economic activities worldwide. The COVID-19 pandemic affected healthcare systems globally, resulting in the interruption of usual care in many healthcare facilities and exposing vulnerable cancer patients to significant risks. For instance, the study titled 'Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study', published in September 2020, reported that a total of 356 centers from 54 countries across six continents participated between April 21 and May 8, 2020. These centers serve 716,979 new cancer patients a year. Most of them (88.2%) reported facing challenges in delivering care during the pandemic. Although 55.34% reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), staff shortage (17.98%), and restricted access to medications (9.83%). A study titled 'Impact of COVID-19 on cancer care in India: a cohort study,' published in 2021, collected data on new patient registrations, number of patients visiting outpatient clinics, hospital admissions, daycare admissions for chemotherapy, minor and major surgeries, patients accessing radiotherapy, and diagnostic tests. The study reported that the number of new patients registered decreased from 112,270 to 51,760, patients who had follow-up visits decreased from 634,745 to 340,984, hospital admissions decreased from 88,801 to 56,885, and outpatient chemotherapy decreased from 173,634 to 109,107 between March 1 and May 31, 2020. The data indicate that COVID-19 significantly impacted the doxorubicin market.
The market for doxorubicin is majorly driven by the rising cancer cases globally. For instance, according to GLOBOCAN 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the world, thus fueling the market's growth.
In 2020, the World Health Organization reported that cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths. The most common cancers in 2020 (in terms of new cases of cancer) were breast (2.26 million cases); lung (2.21 million cases); colon and rectum (1.93 million cases); prostate (1.41 million cases); skin (non-melanoma) (1.20 million cases); and stomach (1.09 million cases).
Governments of different countries are taking several initiatives to spread awareness and introduce new therapy methods for cancer, which may boost the market's growth over the forecast period. For instance, the National Comprehensive Cancer Control Program, in 2020, provided funding, guidance, and technical assistance to help programs implement plans to prevent and control cancer, which may provide opportunities for key players to launch new products into the market and boost the market's growth. Thus, the abovementioned factors are expected to boost the market significantly. However, side effects associated with doxorubicin are expected to restrain the market's growth.
