Liposomal Doxorubicin Market Share, Growth & Forecast [2031]

Report Description

The Global Liposomal Doxorubicin Market size was valued at USD 1.24 Billion in 2022 and is expected to surpass USD 2.08 Billion by 2031, expanding at a CAGR of 5.9% during the forecast period, 2023 – 2031. The growth of the market is due to the increasing incidence of ovarian & breast cancer. Increasing awareness among the people regarding advantages of liposomal doxorubicin formulation over the traditional doxorubicin presents another major factor for the overall market growth.

Liposomal doxorubicin is a type of chemotherapy medication used for the treatment of several types of cancer including ovarian cancer, blood cancer, and others. As per the statistics by the National Cancer Institute (NCI), 1,762,450 new cancer cases of the disease and 606,880 deaths were reported due to cancer in 2019. The mortality rate is expected to increase rapidly in the coming years due to high prevalence of cancer globally. It was also reported that nearly 15,270 adolescents and children between the ages of one to 19 were diagnosed with cancer in 2017 among which 1,790 death cases were recorded regarding the same.

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Branded liposomal doxorubicin named doxil or caelyx are widely applied for the treatment of ovarian cancer and other several types of cancer. However, due to the lack of easy availability of these drugs, a general version of liposomal doxorubicin formulation was approved by the U.S. Food and Drug Administration (FDA) for the treatment of second-line cancer of various types.

The market growth is further accelerated due to increasing demand for this particular drug, which also leads to massive import of doxorubicin HCl liposome injections.

Market Trends, Drivers, Restraints, and Opportunities

• Growing number of companies for the manufacturing of liposomal doxorubicin is anticipated to fuel the market growth during the forecast period.

• Wide development & launch of generic form of liposomal doxorubicin formulation is expected to propel the market growth in the coming years.

• Wide prevalence of cancer globally and an increase in the application of liposomal doxorubicin for the treatment of cancer are estimated to drive the market expansion.

• Side effects caused due to usage of liposomal doxorubicin formulation are key challenges that can restrain the market growth in the coming years.

• Ongoing research & development programs for the advancement of technologies are projected to create profitable opportunities for the market during the forecast period.

Scope of Liposomal Doxorubicin Market Report

The report on the global liposomal doxorubicin market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Liposomal Doxorubicin Market Segment Insights

Doxil/Caelyx segment is expected to dominate the market

On the basis of products, the global liposomal doxorubicin is divided into myocet, lipodex, doxil/caelyx, and others. The doxil/caelyx segment is expected to dominate the market during the targeted period attributed to its increasing demand for the second-line treatment of ovarian cancer.

On the other hand, the others segment is expected to grow at a fast rate in the coming years due to the increasing number of approvals granted to generic drugs that can be used when there is a shortage of life-saving drugs. The increasing availability of products including DOXT SL tablets, nudoxa injections, and evacet is another factor expected to drive the market segment growth. However, the lack of granting of approval for products except for lipodox and doxil is expected to have a negative impact on the market.

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Breast cancer segment is anticipated to grow at a considerable rate

Based on applications, the market is segmented into ovarian cancer, liver cancer, gastric cancer, kidney cancer, endometrial cancer, breast cancer, bone sarcoma, multiple myeloma, kaposi sarcoma, lukemia, and others. The breast cancer segment held a key share of the market and is anticipated to grow at a considerable rate during the forecast period attributed to increasing advancement in the formulation.

The breast cancer segment is followed by ovarian cancer and is anticipated to grow at a significant rate owing to the rising demand for drugs for targeted therapy and the growing usage of chemotherapy drugs. On the other hand, the liver cancer segment is estimated to exhibit a high growth rate during the forecast period owing to the fact that liposomal doxorubicin is proved to be the most effective chemotherapeutic drug for hepatocellular carcinoma.

Asia Pacific is expected to expand at a profitable rate

In terms of regions, the global liposomal doxorubicin market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a large share of the market in 2019 and is projected to register a substantial CAGR during the forecast period owing to a high increase in the number of cancer cases including liver cancer, breast cancer, ovarian cancer, and others in the region.

The growth of the regional market is also attributed to a high level of awareness among the patients and the presence of advanced healthcare facilities along with strong regulatory framework & strong reimbursement policies. However, the market of Asia Pacific is expected to expand at a significant growth rate in the coming years owing to the increasing number of patients suffering from cancer, increasing investments by both private & public sectors, and increasing awareness among people regarding the alternatives of drugs in the region.

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