U.S. Liposomal Doxorubicin Market, by Drug Type (Branded and Generic), by Cancer Type (Ovarian Cancer, AIDS-related Kaposi’s Sarcoma, Multiple Myeloma, and Others), and by States (California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, Georgia, North Carolina, Michigan, New Jersey, Virginia, Washington, Arizona, and Others) is estimated to be valued at US$ 140.0 Million in 2020 and is expected to reach US$ 192.9 Million by 2027, exhibiting a CAGR of 4.7% over the forecast period (2020-2027).
The increasing number of pipeline products for the treatment of cancer is expected to create opportunities for market players to develop novel therapeutics for treating cancer. For instance, on August 13, 2019, Celsion Corporation announced publication of National Institute of Health Analysis of ThermoDox in the Journal of Vascular and Interventional Radiology. ThermoDox is Celsion’s heat-activated liposomal formulation of doxorubicin currently in Phase III development for the treatment of primary liver cancer. Thus, increasing number of late stage lead candidates targeting cancer, which are expected to be FDA approved and launched in the near future, is expected to facilitate the market growth.
U.S. Liposomal Doxorubicin Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has negatively affected various industries globally. The players operating in the U.S. liposomal doxorubicin market are facing major challenges on various fronts due to the COVID-19 pandemic. The coronavirus pandemic has negatively impacted the development, production, and supply of pharmaceutical drugs across the globe. Several pharmaceutical drugs production and manufacturing facilities, and transport departments have suspended operations in their factories to curb the spread of the coronavirus. Moreover, the pandemic has negatively impacted the development, production, and supply of drugs, and in turn, affected growth of the market. The COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.
Browse 9 Market Data Tables and 29 Figures spread through 148 Pages and in-depth TOC on “U.S. Liposomal Doxorubicin Market”- Forecast to 2027, U.S. Liposomal Doxorubicin Market by Drug Type (Branded and Generic), by Cancer Type (Ovarian Cancer, AIDS-related Kaposi’s Sarcoma, Multiple Myeloma, and Others), and by States (California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, Georgia, North Carolina, Michigan, New Jersey, Virginia, Washington, Arizona, and Others).
https://www.coherentmarketinsights.com/market-insight/us-liposomal-doxorubicin-market-4508
Temporary importation of foreign drugs is considered only in cases, when there is a shortage of an approved U.S. drug that is critical to patients, and the shortage cannot be resolved by manufacturers of the approved U.S. drug in the immediate future. For instance, in 2012, the U.S. FDA granted temporary approval to Sun Pharma Global and its authorized distributor, Caraco Pharmaceutical Laboratories to import Lipodox which is a doxorubicin HCL encapsulated in long circulating pegylated liposomes, to address the shortage of the drug, after determining that the product's manufacturer meets the U.S. standards.
Key Takeaways of the U.S. Liposomal Doxorubicin Market:
- The U.S. liposomal doxorubicin market is expected to exhibit a CAGR of 4.7% during the forecast period, owing to the increasing launches of new products. For instance, in February 2017, Baxter International Inc. and ScinoPharm Taiwan, Ltd, entered into a partnership to develop, manufacture, and commercialize five injectable doxorubicin HCL drugs (drugs not disclosed by the company) used in a range of cancer treatments including lung cancer, multiple myeloma, and breast cancer, as well as medication to treat nausea and vomiting, which are common side effects of chemotherapy.
- Among cancer type, ovarian cancer segment is estimated to be valued at US$ 39.9 Million in 2020, and is expected to exhibit a CAGR of 5.6% and reach US$ 58.4 Million by 2027, owing to the increasing prevalence of ovarian cancer. For instance, according to the American Cancer Society, in 2016, around 22,280 new cases of ovarian cancer were diagnosed, leading to 14,240 deaths in the U.S.
- Major players operating in the U.S. liposomal doxorubicin market include Johnson & Johnson, Baxter International Inc., Sun Pharmaceutical Industries Ltd., and Dr. Reddy’s Laboratories, Inc.
