Injectable Cytotoxic Drugs Market Size to Surpass USD 26.50 Billion by 2030, exhibiting a CAGR of 5.4%
According to the report by Fortune Business Insights, the global injectable cytotoxic drugs market size is projected to reach USD 26.50 billion by 2030, at a CAGR of 5.4% during the forecast period, 2023-2030
Injectable Cytotoxic Drugs Market
Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) — The global injectable cytotoxic drugs market size is projected to reach from USD 18.29 billion in 2023 to USD 26.50 billion by 2030, recording a CAGR of 5.4% during the forecast period. The rising prevalence of cancer, multiple sclerosis, and other chronic diseases is predicted to boost the injectable cytotoxic drugs market growth.
Fortune Business Insights™ displays this information in a report titled, “Injectable Cytotoxic Drugs Market, 2023-2030.”
Notable Industry Development:
- June 2023: The U.S. FDA announced that it had allowed temporary imports of 50-milligram vials of cisplatin, an injectable chemotherapy drug, to boost its supplies in the U.S.
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- Increasing prevalence of cancer and the high dependence on cytotoxic drugs for its treatment augmenting the market growth during forecast period.
- Cytotoxic drugs, or chemotherapy, are also known for their major side effects, such as anemia, bone marrow depression, and follicle toxicity.
- The North America injectable cytotoxic drugs market value stood at USD 8.44 billion in 2022.
- higher adoption of cytotoxic drugs is estimated to propel the segment growth in the coming years.
List of key companies profiled in the report:
“Companies leading the global injectable cytotoxic drugs market are Johnson and Johnson Services Inc., (U.S.), Sanofi (France), Eli Lilly and Company (U.S.), Bristol-Myers Squibb Company (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Novartis AG (Switzerland), Pfizer, Inc. (U.S.), Merck & Co. Inc. (U.S.), Amgen, Inc. (U.S.)”
Report Scope & Segmentation
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||5.4%|
|2030 Value Projection||USD 26.50 Billion|
|Market Size in 2023||USD 18.29 billion|
|Historical Data||2019 to 2021|
|No. of Pages||158|
|Segments covered||By Product, Distribution Channel, and Region|
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Antimetabolites Segment to Gain Traction Due to Their High Use in Oncology Treatments
Based on drug class, the market is split into alkylating drugs, cytotoxic antibodies, antimetabolites, plant alkaloids, and others. The antimetabolites segment held the largest injectable cytotoxic drugs market share in 2022 due to extensive use in treating oncology and rheumatoid disorders.
Oncology Segment Takes the Lead as Demand for Effective Cancer Treatments Grows
In terms of application, the market has been categorized into oncology, multiple sclerosis, rheumatoid arthritis, and others. The oncology segment dominated the global market due to the increasing cases of cancer and the rising demand for effective treatments.
Hospital Pharmacies Segments Leads Market, Catering to Demand for Expert Administration of Injectable Cytotoxic Drug
Based on distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. The hospital pharmacies segment leads the global market as a wide range of injectable cytotoxic drugs require the expertise of highly skilled healthcare professionals to administer them.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Drug Class
- Alkylating Drugs
- Cytotoxic Antibodies
- Plant Alkaloids
- Rheumatoid Arthritis
- Multiple Sclerosis
By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Drivers and Restraints:
Growing Reliance On Cytotoxic Drugs to Treat Chronic Ailments to Fuel Market Growth
Cancer, having numerous causes, calls for effective standard treatments such as radiation therapy and chemotherapy, which are highly sought after by cancer patients. Injectable cytotoxic drugs are used as the first line of treatment for these patients. Many upcoming therapies, immunotherapy, and targeted therapy administer medicines in combination with cytotoxic/chemotherapy drugs. These factors are expected to boost market growth.
However, the rising availability of alternate therapies to treat cancer might restrain market progress.
North America to Dominate Market Due to Rising Cancer Cases
North America is expected to hold the largest market share as the region witnesses a significant increase in people suffering from various types of cancer. Moreover, cancer patients are gaining easier access to medicines effective in treating cancer, further fueling the regional market development.
Europe is expected to grow at a notable pace due to factors such as favorable healthcare reimbursement policies, increasing expenditure on cancer & rheumatoid arthritis treatment, and growing government initiatives to improve patients’ access to chemotherapy medicines.
Key Market Players to Launch Cost-Effective Treatments to Retain Market Dominance
The injectable cytotoxic drugs market is highly fragmented and competitive due to the growing presence of regional as well as international companies. Johnson & Johnson Services Inc. dominated the market in 2022 by focusing on mergers and acquisitions. Moreover, many companies are introducing cost-effective treatments to increase their access to low- and middle-income patients, helping them cement their market positions.
How big is the Injectable Cytotoxic Drugs Market?
Injectable Cytotoxic Drugs Market size was USD 17.65 Billion in 2022. It is expected to reach USD 26.50 Billion by 2030.
How fast is the injectable cytotoxic drugs market growing?
The Injectable Cytotoxic Drugs Market will exhibit a CAGR of 5.4% during the forecast period, 2023-2030
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