The dactinomycin market has expanded at a steady pace, with growth projected from $6.58 billion in 2023 to $6.76 billion in 2024 at a CAGR of 2.8%. Contributing factors include the discovery of actinomycin, advancements in clinical development and approval, pediatric oncology progress, ongoing research, and developments in chemotherapy.
The dactinomycin market is expected to grow steadily, reaching $7.6 billion by 2028 at a CAGR of 3%. Growth drivers include the incidence of target cancers, market access, reimbursement, cost-effectiveness, new drug delivery systems, and better healthcare access. Trends include personalized medicine, new formulations, advances in bioinformatics and biomarker discovery, and innovations in imaging and monitoring technologies.
Major Driver In The Dactinomycin Market
The rising incidence of cancers is projected to boost the dactinomycin market. The increase in cancer cases is attributed to aging populations, lifestyle factors, and environmental exposures. Dactinomycin aids in cancer treatment by inhibiting DNA transcription and tumor growth. The World Health Organization estimates that by 2050, over 35 million new cancer cases will occur, a 77% increase from 20 million in 2022. Therefore, the rising incidence of cancer is driving the dactinomycin market. The market size for dactinomycin was valued at $1.5 billion in 2023, expected to grow to $1.7 billion in 2024, and is projected to reach $2.3 billion by 2028.
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Dactinomycin Market Competitive Landscape
Merck KGaA, Baxter International Inc., Teva Pharmaceutical Industries Limited, Recordati Rare Diseases Inc., Zhejiang Hisun Pharmaceutical Co. Ltd., Concord Biotech Limited, Celon Laboratories Limited, Prasco LLC, Cayman Chemical Company, Santa Cruz Biotechnology Inc., Rochem International Inc., AdvaCare International, Health Biotech Limited, Neon Laboratories Ltd., X-GEN Pharmaceuticals Inc., Florencia Healthcare, SGPharma Pvt. Ltd., BOC Sciences, Manus Aktteva Biopharma LLP, Angle Bio Pharma, Enomark Healthcare Pvt. Ltd., Meitheal Pharmaceuticals Inc
Empower Pharma Acquires Assets From Eugia US LLC To Expand Sterile Medication and Personalized Medicine Capabilities
In May 2024, Empower Pharma, a US-based pharmaceutical company, acquired manufacturing assets from Eugia US LLC, a subsidiary of Aurobindo Pharma Ltd., for $52 million. This strategic move aims to bolster Empower Pharma's capabilities in sterile medication manufacturing and support its growth objectives in the pharmaceutical industry, particularly in the personalized medicine sector. Eugia US LLC is a US-based pharmaceutical compound manufacturer that specializes in dactinomycin drug injections.
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Global Dactinomycin Market Segmentation
The dactinomycin market covered in this report is segmented –
1) By Type: Injection, Implants
2) By Application: Alkylating Agent, Hormone, Plant Medicine
3) By End User: Hospitals, Cancer Treatment Centers, Research Institutions
By Geography:The regions covered in the dactinomycin market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the dactinomycin market in 2023.
The Dactinomycin Global Market Report 2024 furnishes information about the global dactinomycin market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
