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.
Grand View Research has segmented the liposomal doxorubicin market by product, application, and region:
Liposomal Doxorubicin Product outlook (Market revenue in USD Million, 2013 - 2024)
Sun Pharma (Lipodox)
Liposomal Doxorubicin Application Outlook (Market revenue in USD Million, 2013 - 2024)
Liposomal Doxorubicin Regional Outlook (Market Revenue in USD Million, 2013 - 2024)
Middle East and Africa
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