Epirubicin Market Forecast to 2028 - Opportunities in Rising FDA Approvals for Cancer Drugs - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Epirubicin Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Dosage, Application, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The global epirubicin market is expected to reach 243.99 million by 2028 from US$ 191.66 million in 2021. The market is estimated to grow at a CAGR of 3.60% from 2022 to 2028.
Epirubicin hydrochloride is a class of drugs termed anthracyclines and is primarily used to treat breast cancers after surgical resection. Anthracyclines are antibiotics isolated from the gram-positive bacteria Streptomyces. They are commonly used as chemotherapy agents and exert their antineoplastic effects by targeting the replication of DNA.
Epirubicin HCl is often preferred over anthracycline doxorubicin as it has been shown to have fewer side effects. Epirubicin HCl became FDA-approved (Food and Drug Administration) as adjuvant therapy for treating axillary node-positive breast cancers following resection under the trade name Ellence in 1999.
The growing pharmaceutical industry worldwide is also likely to create growth opportunities for the epirubicin market. The US pharmaceutical market is the largest and the most commercial market in North America. The US alone holds over 45% of the global pharmaceutical market. The majority of the top global drug manufacturing companies are from the US, and the nation has been at the forefront of biomedical research.
Further, the pharmaceutical market in Germany holds the fourth position in the global pharmaceutical market with small and mid-sized companies. According to the International Trade Administration (ITA), in 2019, the pharmaceutical market in Germany accounted for US$ 62.5 billion.
The country is likely to remain one of the most attractive destinations for the global pharmaceutical industry in the coming years in terms of manufacturing and supply. The market is driven by factors such as increasing investment in research and development and growing patent applications.
Also, the pharmaceutical industry in the UK is continuously expanding. Under the UK's pharmaceutical industry, over 610 companies are operating. According to Office National Statistics, 610 companies were operating in the UK in 2018. It has over 15 global companies headquartered in the UK.
Also, nearly 41% of pharmaceutical production is exported to other countries and regions. Companies such as Astra Zeneca, Eli Lilly, and GSK have contributed significantly to the growth of pharmaceuticals and led research and development at a peak. The growth of these companies and expansions in the business segments are expected to influence market growth in the coming years.
In August 2020, the Government of India announced a program called Atmanirbhar Bharat, which means self-reliant India, as financial support to grow the pharmaceutical industry. Like the US and Europe, India has adopted independent manufacturing of pharmaceutical raw materials.
Additionally, US$ 1.8 billion have been allocated for Production Linked Incentive Scheme (PLI) program for pharmaceuticals. This has provided an opportunity for India to become a global hub for the pharmaceutical & medical device industry. Nearly 30% of the investments are offered to the pharmaceutical industry to produce raw materials and intermediates essential to make antibiotics, analgesics, and other active pharmaceutical ingredients (API) .
Thus, the growing pharmaceutical sector worldwide is likely to create growth opportunities for the epirubicin market.
Key Market Dynamics
- Rising Prevalence of Cancer
- Increasing Awareness Regarding Cancer
- Elevated Risk of Adverse Effects due to Epirubicin
- Rising FDA Approvals for Cancer Drugs
- Increase in Number of Cancer Research Programs
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Salius Pharma Pvt Ltd
- Areva Pharmaceuticals Mylan N. V.
- Hikma Pharmaceuticals PLC
- Fresenius Kabi AG
- Miracalus Pharma Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tnokkj
Laura Wood, Senior Press Manager
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