Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) — The “Global Injectable Cytotoxic Drugs Market Analysis & Forecast to 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global injectable cytotoxic drugs market size was estimated to be USD 18.63 billion in 2023 and is expected to reach at USD 33.78 billion by 2034 with a CAGR of 5.56% during the forecast period 2024-2034
Growing prevalence of cancer, high dependence on cytotoxic drugs for its treatment, a significant number of molecules are under development intended to be prescribed along with injectable cytotoxic drugs, rising prescription of cytotoxic injectable, increasing research & development activities, growing number of clinical trial procedures, surge in launch of novel therapies, and rising approval of innovative injectable cytotoxic drugs are some of the key factors boosting the market growth.
Rising approval of innovative injectable cytotoxic drugs is predicted to boost the market growth during the forecast period. Cytotoxic drugs are primarily employed as the initial treatment option for newly diagnosed cancer patients. While emerging therapies like targeted therapy and immunotherapy have gained approval for specific cancer types, injectable cytotoxic drugs are also prescribed for individuals dealing with severe multiple sclerosis.
For instance, in July 2023, The FDA has approved a new drug application (NDA) for 200-mg/mL vials of Cyclophosphamide Injection. This approval allows for the use of the drug in combination therapy to treat patients with different types of cancers, including malignant lymphoma, multiple myeloma, and various forms of leukemia, as reported by Nevakar Injectables Inc.
By drug class, antimetabolites was the highest revenue-grossing segment in the global injectable cytotoxic drugs market in 2023 owing to the rising adoption of this drug class, surge in prescription for oncology & rheumatoid diseases, and growing approval of novel therapy. For instance, in November 2022, The FDA has approved the use of the PD-1 inhibitor Libtayo (cemiplimab-rwlc) in conjunction with platinum-based chemotherapy, according to a statement released by Regeneron Pharmaceuticals, Inc.
This approval allows the drug to be used as a first-line treatment for adult patients diagnosed with advanced Non-Small Cell Lung Cancer (NSCLC) lacking EGFR, ALK, or ROS1 aberrations. Additionally, cytotoxic antibodies is predicted to grow at fastest CAGR during the forecast period owing to the rising need for reasonably priced drugs and the growing availability of generic substitutes.
By application, oncology was the highest revenue-grossing segment in the global injectable cytotoxic drugs market in 2023 owing to the increasing prevalence of cancer, rising consumption of oncology drugs for its treatment, a significant reliance on cytotoxic drugs, and surge in launch of new therapies.
For instance, in August 2022, Accord Healthcare has introduced Carmustine, a chemotherapy drug designed for the treatment of brain tumors and various blood cancers. Additionally, rheumatoid arthritis is predicted to grow at fastest CAGR during the forecast period owing to the expanding senior population, increased government awareness campaigns for rheumatoid arthritis symptoms, increasing prevalence of rheumatoid arthritis, and a spike in demand for rheumatoid arthritis medications.
By distribution channel, hospital pharmacies was the highest revenue-grossing segment in the global injectable cytotoxic drugs market in 2023 owing to the majority of injectable cytotoxic drugs necessitate administration by highly skilled healthcare professionals and rising mergers & acquisitions within market players.
For instance, in March 2022, KELIX bio has announced the acquisition of Vitane Pharma GmbH, a life-science company based in Germany. The aim of this strategic move is to broaden the selection of injectable cytotoxic drugs provided by KELIX Bio. Additionally, drug stores & retail pharmacies is predicted to grow at fastest CAGR during the forecast period to the increasing patient preference for it.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing number of cancer patients, broader access to cancer drugs, high healthcare expenditure on cancer & rheumatoid arthritis, favorable reimbursement policies, active government initiatives to enhance the accessibility of chemotherapy drugs, and increasing regulatory approvals.
For instance, in June 2023, Pemrydi RTU, an injectable cytotoxic medication, has been approved by the U.S. FDA under the new 505(b)(2) drug application procedure. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in demand for cancer, multiple sclerosis, and rheumatoid arthritis treatment choices to meet the expanding patient population suffering from these diseases, rising healthcare spending, rising buying power of the people, and increased approvals by regulatory authorities.
For instance, in May 2023, EPKINLYTM (epcoritamab-bysp), the first and only T-cell engaging bispecific antibody, has been approved by the U.S. Food and Drug Administration (FDA) to treat adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL), according to a statement from AbbVie.
|No. of Pages
|2023 – 2034
|Estimated Market Value (USD) in 2023
|Forecasted Market Value (USD) by 2034
|Compound Annual Growth Rate
- F. Hoffmann-La Roche Ltd.
- Johnson and Johnson Services Inc.
- Amgen Inc
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
Injectable Cytotoxic Drugs Market Analysis & Forecast by Drug Class 2023 – 2034 (Revenue USD Bn)
- Cytotoxic Antibodies
- Alkylating Drugs
- Plant Alkaloids
Injectable Cytotoxic Drugs Market Analysis & Forecast by Application 2023 – 2034 (Revenue USD Bn)
- Multiple Sclerosis
- Rheumatoid Arthritis
Injectable Cytotoxic Drugs Market Analysis & Forecast by Distribution Channel 2023 – 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
Injectable Cytotoxic Drugs Market Analysis & Forecast by Region 2023 – 2034 (Revenue USD Bn)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/bt61v8
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- Global Injectable Cytotoxic Drugs Market