The cytotoxic drugs market is anticipated to reach US$ 16.3 billion in 2023 and US$ 18.3 billion by 2033, respectively. Demand is predicted to increase steadily during the projection period at a CAGR of 1.2%.
As more chemotherapy sessions are carried out as a result of an increase in cancer diagnoses, the industry is driven by a surge in the usage of cytotoxic medications.
Numerous first-in-class developments are anticipated in the primary branch, as well as a wide variety of innovative cytotoxic pharmacological treatments, all of which will increase the potential patient advantages.
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Demand for cytotoxic medications is further boosted by the use of biosimilars and government programmes to lower the cost of cancer therapies. Partnerships between businesses and universities are expected to grow as they look into potential new markets.
The development of the global market for cytotoxic pharmaceuticals is also directly impacted by the introduction of injectable cytotoxic drugs. It entails the creation and purification of Active Pharmaceutical Ingredients (APIs), as well as the development of the medicinal product.
Cytotoxic drug sales are predicted to increase as a result of campaigns launched by several organisations to raise money, educate the public, and raise awareness of the condition. For instance, to increase awareness of the condition, the Ministry of Health and Family Welfare promotes Breast Cancer Awareness Month.
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
By Drug Type:
- Alkylating Agents
- Antitumor Antibiotics
- Antimetabolites
- Plant Alkaloids
- Others
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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