Doxorubicin Market Share, Size and Growth Analysis By 2029

The global market for doxorubicin is anticipated to grow significantly, reaching approximately US$ 1,983.40 million by 2028, up from US$ 1,390.64 million in 2022. This growth is expected to occur at a compound annual growth rate (CAGR) of 6.1% during the period from 2022 to 2028.

The rise in cancer cases and the increasing reliance on chemotherapy are key factors propelling the expansion of the doxorubicin market. However, the potential adverse effects associated with doxorubicin may hinder its market growth.

Doxorubicin is classified as an anthracycline and is extensively utilized in treating various cancers, including breast, lung, multiple myeloma, ovarian, kidney, liver, and sarcoma, among others. It is particularly administered to patients whose cancer has either progressed or recurred following chemotherapy. Cancer remains a leading cause of mortality worldwide. According to the World Health Organization (WHO), cancer was the primary cause of death for individuals under 70 in 183 countries and ranked as the fourth leading cause of death across all age groups in 123 countries in 2019. Furthermore, WHO data from March 2021 indicated that different types of cancer were responsible for approximately 10 million deaths in 2020. The escalating incidence of cancer has placed immense pressure on healthcare systems globally, thereby increasing the demand for chemotherapy treatments. Doxorubicin is a cornerstone drug in first-line chemotherapy regimens, effectively inducing regression in various malignancies, including breast, ovarian, and several types of leukemia, among others. It is also recommended as an adjuvant therapy for women who have undergone surgery for primary breast cancer with axillary lymph node involvement.

Moreover, government initiatives aimed at cancer prevention in numerous countries present substantial growth prospects for the doxorubicin market. For example, in June 2020, the National Institutes of Health allocated nearly US$ 3.5 million to the University of Missouri School of Medicine to investigate a pre-treatment for chemotherapy that could safeguard cancer patients from heart complications induced by therapy. Consequently, the rising incidence of cancer, coupled with increased governmental support in the form of funding and resources, is creating significant opportunities for manufacturers in the doxorubicin market, particularly in emerging economies.

Recent developments in the doxorubicin sector include:

• In October 2021, Padagis received FDA approval and launched an AB-rated generic version of Doxil (Doxorubicin Liposome Injection) in collaboration with Ayana Pharma Ltd.


• In September 2020, Zydus Cadila obtained final approval from the US FDA for its generic Doxorubicin Hydrochloride Liposome Injection for cancer treatment in the United States.


• In September 2018, Hikma Pharmaceuticals USA Inc., a subsidiary of Hikma Pharmaceuticals PLC, introduced Adriamycin (DOXOrubicin HCl) for Injection as part of multi-agent adjuvant chemotherapy for women with axillary lymph node involvement post-surgery for primary breast cancer.


• In May 2018, Dr. Reddy's received US FDA approval to launch Doxorubicin Hydrochloride Liposome Injection in the US market, following extensive collaboration with NatcoPharma Limited on research and development and manufacturing capabilities.

The approval of generic alternatives for commonly used chemotherapy agents like doxorubicin holds significant potential for enhancing cost-effectiveness and improving access to cancer treatments in low- and middle-income nations.

The COVID-19 pandemic has also impacted the socioeconomic landscape across various countries. In North America, healthcare costs have surged dramatically, with the US healthcare system incurring direct costs of US$ 5.3 billion in 2020 alone. The overall healthcare expenditure in the US increased by US$ 60 billion in 2020. During this period, over 40% of the North American population canceled medical appointments, and 13% reported needing care but did not receive it. The pandemic has altered economic conditions and social behaviors, leading to a significant decline in emergency department visits by approximately 40% in 2020, as reported by the Department of Emergency Medicine. Additionally, many outpatient appointments and elective procedures were postponed or transitioned to telemedicine.

According to the Cancer Statistics 2022 published in the American Cancer Society's journal, data from 2015 to 2019 revealed a 0.5% annual increase in female breast cancer cases, while prostate cancer incidence remained stable. This growing number of cancer patients worldwide is expected to further stimulate the growth of the doxorubicin market.

In terms of drug formulation, the global doxorubicin market is divided into lyophilized powder and doxorubicin injection. In 2022, the lyophilized powder segment held a larger market share, driven by the rising cancer prevalence and the increasing preference for chemotherapy.

Based on application, the global doxorubicin market is categorized into lung cancer, sarcoma, breast cancer, multiple myeloma, ovarian cancer, kidney cancer, leukemia, liver cancer, and others. The breast cancer segment is projected to dominate the market in 2022, with anticipated growth in the forecast period due to the rising prevalence of breast cancer treatments involving chemotherapy.

Regarding distribution channels, the global doxorubicin market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacy segment is expected to capture the largest market share in 2022, with growth anticipated in the coming years due to the increasing number of chemotherapy procedures conducted in hospitals.

Key secondary sources referenced in the preparation of this report on the global doxorubicin market include the World Health Organization (WHO), National Healthcare Service (NHS), Centers for Disease Control and Prevention (CDC), Canadian Partnership Against Cancer (CPAC), United States Cancer Statistics (USCS), Globocan Statistics 2020, World Bank Data, North American Free Trade Agreement (NAFTA), and the Australian Institute of Health and Welfare.