The global liposomal doxorubicin market is expected to reach a
value of USD 1.39 billion by 2024, according to a new report by Grand View
Research, Inc. The presence of various pipeline products awaiting approval by
the U.S. FDA and European Medicines Agency is one of the key attributes of this
market. The first liposomal doxorubicin formulation was launched in 1995,
namely Doxil/Caelyx by Janssen Products and LP & Myocet by Teva
Pharmaceutical Laboratories. Doxil, the brand name of liposomal doxorubicin, is
under development, and post its commercialization, the product is expected to
create significant value over the next 3 to 4 years.
The
increasing U.S. FDA approval for drug production is also anticipated to boost
the market. The increasing indication of these drugs for various conditions
such as AIDS-related Kaposi sarcoma, multiple myeloma, neuroblastoma,
osteosarcoma, and ovarian cancer signifies the growth in demand. The
technological advancements in the drugs formulations to overcome the adverse
effects on health and also introduction of various types of medication delivery
systems, such as coated nanoparticles, are some of the pivotal factors
impelling the demand for the drug.
Liposomal
doxorubicin is primarily approved for the treatment of myeloma, Kaposi sarcoma,
and ovarian cancer. However, due to its wide usage in other conditions as well,
in 2015, breast cancer accounted for the maximum revenue of 21.2%. The
increasing prevalence of breast cancer is leading to growing demand for
chemotherapy treatment, which accounts for the majority of revenue share.
Besides breast carcinoma, ovarian cancer, multiple myeloma, and liver cancer
also held a significant share in 2015. The use of doxorubicin for liver
carcinoma treatment is rapidly growing, and this application is expected to
grow with the fastest CAGR of 7.8% over the forecast period.
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Further key findings from the study suggest:
- The increasing number of mergers & acquisitions and partnerships for clinical trials on technologically advanced doxorubicin formulations will boost market growth
- Increasing investment in Asia Pacific pertaining to the R&D, improving healthcare infrastructure, and heightened patient cognizance regarding targeted cancer therapies and chemotherapy will drive regional market growth
- Key players operating in the market are Janssen Products; LP; Teva Pharmaceuticals; Sun Pharmaceutical Industries Ltd.; Pfizer, Inc.; Cipla, Inc.; Cadila Pharmaceuticals; and SRS Pharmaceuticals Pvt. Ltd.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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