According to predictions, the Cytotoxic Drugs Market would likely be worth US$ 16.3 billion in 2023 and US$ 18.3 billion by 2033. Demand is expected to increase slowly over the projection period, at a CAGR of 1.2%.
As more chemotherapy treatments are carried out as a result of an increase in cancer diagnoses, the sector is being driven by a rise in the use of cytotoxic medications.
Numerous first-in-class developments in the primary branch are anticipated, as well as a wide variety of novel cytotoxic pharmacological therapies, all of which will increase the potential patient advantages.
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The use of biosimilars and government initiatives to reduce the price of cancer therapies also help to increase demand for cytotoxic drugs. It is anticipated that there would be an increase in corporate and academic partnerships to investigate potential new markets.
Additionally, the introduction of injectable cytotoxic medications has a direct impact on the growth of the global market for cytotoxic drugs. It involves the development of the therapeutic product as well as the production and purification of the Active Pharmaceutical Ingredients (APIs).
As a result of initiatives conducted by numerous organisations to collect money, inform the public, and promote awareness of the disease, cytotoxic medicine sales are anticipated to rise. For instance, the Ministry of Health and Family Welfare sponsors Breast Cancer Awareness Month to raise awareness of the disease.
Key Takeaways:
- By 2033, it is predicted that the US rule the cytotoxic drugs market, with a CAGR of 1.3% and a value of US$ 6.9 billion.
- The market for cytotoxic drugs increased at a 0.9% CAGR between 2017 and 2022, citing FMI’s study.
- The expansion in China is anticipated to expand at an adequate CAGR of 1.2% by 2033. China’s market is likely to generate more than US$ 1.3 billion of total revenue by 2033.
- Japan’s demand for cytotoxic drugs is estimated to have a CAGR of 1.2% by 2033.
- Between 2023 and 2033, the cytotoxic drugs market is likely to increase in India at 1.9% CAGR, respectively.
- Based on product, generic segments dominate the industry, with a CAGR of 1.6% by 2033.
- Antimetabolites dominate the market’s revenue share based on drug type, with a CAGR of 0.9% by 2033.
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Top Players are Aiming for the Largest Market Share:
The cytotoxic drugs manufacturers are quite fragmented, with both domestic and international firms present. The main approaches used by market participants to increase the scope of their product portfolios are product innovation and product differentiation. To broaden their geographic reach, major market players are concentrating on strategic alliances.
- CytoPharma
- Bristol-Myers Squibb
- Amgen Inc.
- Celgene Corp.
- Eli Lilly and Company
Key segments:
By Product Type:
- Branded Drugs
- Generic Drugs
By End User:
- Hospitals
- Cancer Research Centres
- Drug Testing Laboratories
- CDMOs
By Route of Administration:
- Oral Cytotoxic Drugs
- Parenteral Cytotoxic Drugs
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By Drug Type:
- Alkylating Agents
- Antitumor Antibiotics
- Antimetabolites
- Plant Alkaloids
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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