"Designing Growth Strategies is in our DNA"
The U.S. injectable cytotoxic drugs market size was worth USD 7.75 billion in 2022 and is projected to grow at a CAGR of 4.5% during the forecast period.
Cytotoxic drugs are chemotherapeutic agents primarily used to treat cancer. These drugs target or kill rapidly dividing cancer cells or reduce cancer growth and spread. They also treat several other disorders, such as multiple sclerosis and rheumatoid arthritis. The growing prevalence of cancer and high dependency on cytotoxic drugs for its treatment are primary factors driving the growth of the injectable cytotoxic drugs market in the U.S.
Furthermore, the rising focus on public health initiatives and cancer screening programs is anticipated to bolster the requirement for cytotoxic drugs in the near future.
However, in 2020, the market witnessed a slow growth amid the COVID-19 pandemic. The slow growth was attributed to the reduced hospitalization and outpatient visits, leading to a lower number of prescriptions for many medicines. In addition, the U.S. injectable cytotoxic drugs market growth was heavily impacted by biosimilar erosion.
Strategic Collaboration among Industry Players is a Vital Trend
Key players in the U.S. injectable cytotoxic drugs market are focused on a collaborative approach to provide a more customer-centric experience, which has significantly changed the healthcare landscape. Partnerships between the companies operating in this market have improved the healthcare supply chain’s productivity and are one of the key market trends.
Furthermore, the demand for injectable cytotoxic drugs is increasing owing to technological advancements resulting in the development of more effective cancer treatment options. The healthcare industry is focused on developing more potent cytotoxic drugs in response to the rising cancer incidence. The development of immunotherapies and targeted therapies that have fewer side effects and are more effective than traditional chemotherapy is projected to drive the demand for cytotoxic drugs in the upcoming years.
Increasing Incidence of Cancer to Drive Market Growth
The rising incidence of cancers in the U.S. has significantly influenced the U.S. injectable cytotoxic drugs market. These drugs contain toxic chemicals to cells, which prevent their replication or growth and are used to treat cancer. Cancer is a complex disease caused by various factors, such as environmental exposures, genetic abnormalities, aging, and lifestyle decisions. According to the data published by the National Cancer Institute, around 17,113,494 people had cancer in 2020 in the U.S. In addition, by the end of 2023, 1,958,310 new cancer cases are projected to occur in the U.S.
Some factors that increase the risk of cancer include alcohol consumption, tobacco use, lack of physical activity, unhealthy diets, and exposure to carcinogens. As cancer incidence in the U.S. continues to rise, the demand for these drugs also increases.
High Cost of Medications May Hinder Market Growth
The high cost of running clinical studies, developing cytotoxic drugs, and receiving regulatory clearances might hamper the growth of the U.S. market. The cytotoxic medications drug development process is usually costly and time-consuming. It requires numerous phases of clinical trials and substantial preclinical testing before drug approval. This can create a huge economic burden on pharmaceutical companies and prevent them from investing in developing new cytotoxic medications.
Request a Free sample to learn more about this report.
According to the data published by the American Cancer Society, around 983,160 and 934,870 cancer cases were detected in males and females, respectively, in 2022.
In terms of drug class, the market is segmented into cytotoxic antibodies, alkylating drugs, plant alkaloids, antimetabolites, and others.
The antimetabolites segment held the largest share in the market in 2022 and is anticipated to grow at a considerable CAGR over the forecast period. Antimetabolites are chemotherapeutic drugs inhibiting the metabolic pathway for cancer cell growth. These drug types are used to treat various malignancies, such as lymphoma, leukemia, and solid tumors. The major factor driving the demand for antimetabolites is their widespread use in cancer treatments. The focus of many pharmaceutical companies is on securing FDA approvals for the expansion of their position.
The alkylating drugs segment is estimated to register a significant CAGR during the forecast period. The growing prevalence of different types of cancer, such as lung, breast, and ovarian cancer, is projected to influence segmental growth in the coming years. Alkylating drugs have an extensive therapeutic range and can treat hematologic and solid cancers.
By application, the market is divided into oncology, multiple sclerosis, rheumatoid arthritis, and others.
The oncology segment had the largest market share in 2022. The rising prevalence of breast, lung, and prostate cancer and the use of oncology drugs to treat the disease indication is projected to drive segmental growth. Furthermore, the rising consumption of alcohol, tobacco, and unhealthy food are factors that make them more prone to cancer.
The rheumatoid arthritis segment accounted for significant revenue in 2022. Rheumatoid arthritis is an autoimmune disease that affects joints. The rising prevalence of arthritis, coupled with the increased need for effective therapeutics, is expected to drive segmental growth.
In terms of distribution channel, the market is segregated into hospital pharmacy, retail pharmacy, and online pharmacy.
The hospital pharmacy segment captured the largest share in 2022 owing to the heightened prescription of most ocular medications by trained medical professionals at these facilities. In addition, the surging occurrence of cancer, the rise in healthcare expenditure, the requirement for efficient management of medication, and the aging population, lead to the expansion of hospital pharmacies.
Moreover, the online pharmacy segment is poised to expand at the fastest-growing CAGR during the forecast period on account of the ease and convenience in the procurement of ocular allergy drugs. In addition, the surge in treatment support and telecommunication further bolsters the growth of the online pharmacy segment.
The U.S. market has a highly fragmented structure, with the presence of several emerging and established players. Johnson and Johnson Services, Inc. was one of the players who accounted for a significant proportion of the U.S. market in terms of its revenue in 2022. The company is engaged in increasing its revenue by securing regulatory approvals for its pipeline candidates.
Other players operating in the U.S. market for cytotoxic drugs include Sanofi, Bristol-Myers Squibb Company, Eli Lily and Company, F. Hoffmann-La Roche Ltd., Novartis AG, and Pfizer, Inc., among others. These companies are involved in expanding their product portfolios and mergers & acquisitions to capture a larger U.S. injectable cytotoxic drugs market share.
An Infographic Representation of U.S. Injectable Cytotoxic Drugs Market
To get information on various segments, share your queries with us
The U.S. injectable cytotoxic drugs market research report offers a detailed analysis of the market. It focuses on key aspects such as an overview of the prevalence of cancer, regulatory scenarios, and new product launches. In addition, it includes key industry developments such as mergers, partnerships, and acquisitions and the impact of COVID-19 on the market. Besides this, the market analysis also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.
To gain extensive insights into the market, Request for Customization
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 4.5% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Drug Class
|
By Application
| |
By Distribution Channel
|
Fortune Business Insights says that the U.S. market was worth USD 7.75 billion in 2022.
The market is expected to exhibit a CAGR of 4.5% during the forecast period (2023-2030).
By drug class, the antimetabolites segment leads and held the largest share in 2022.
Johnson and Johnson, Sanofi, and Bristol-Myers Squibb Company are the top players in the U.S. market.
US +1 833 909 2966 ( Toll Free )