Requirement of Novel Drug Treatment Gives New Prospects to the Manufacturers | FMI Analysis on Cytotoxic Drugs Market
It is estimated that the cytotoxic drugs market is likely to be valued at US$ 16.3 billion in 2023, and likely to reach US$ 18.3 billion by 2033. During the forecast period, the demand is anticipated to expand at a sluggish CAGR of 1.2%.
The industry is being pushed by an increase in the cytotoxic drugs consumption as a result of more chemotherapy procedures being performed as a result of an increase in cancer diagnoses.
A large range of novel cytotoxic drugs treatments are predicted in the market, along with numerous first-in-class developments in the main branch, boosting the potential patients benefits.
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Additionally, government programs to lower the cost of cancer therapies and the growing usage of biosimilars promote the demand for cytotoxic drugs. It is projected that more collaborations between corporations and research institutions would emerge to examine new market prospects.
Additionally, the development of the global market for cytotoxic drugs is directly impacted by the introduction of injectable cytotoxic drugs. It involves both the creation and purification of the Active Pharmaceutical Ingredients (APIs), as well as the formulation of the therapeutic product.
Sales of cytotoxic drugs are expected to increase as a result of efforts undertaken by various organizations to raise money, educate the public, and raise awareness of the disease. For instance, to increase awareness of the condition, the Ministry of Health and Family Welfare promotes Breast Cancer Awareness Month.
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- 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.
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.
- Zydus Cadila, a pharmaceutical division of Zydus Group, announced the introduction of its novel medicine for the treatment of breast cancer in India in May 2021. According to reports, the targeted chemotherapy drug trastuzumab emtansine for breast cancer is the first one that can employ a biomarker to target cancer cells for cytotoxic activity.
- An important player in the life science tool sector, NanoString Technologies Inc., announced the release of a new gene expression tool in October 2021 that would support the burgeoning Antibody Drug Conjugates (ADCs) market.
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By Product Type:
- Branded Drugs
- Generic Drugs
By End User:
- Cancer Research Centres
- Drug Testing Laboratories
By Route of Administration:
- Oral Cytotoxic Drugs
- Parenteral Cytotoxic Drugs
By Drug Type:
- Alkylating Agents
- Antitumor Antibiotics
- Plant Alkaloids
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