The global breast cancer drugs market is anticipated to gain substantial growth over the forecast period owing to rising prevalence of breast cancer globally, emerging novel therapies, and integration of these therapies with advancement in imaging technologies. Rising prevalence of breast cancer is attributed to genetic profile of the patients, adoption of unhealthy lifestyle, and contact with harmful radiations. Additionally, rising female geriatric population base and government initiatives & awareness globally are high impact rendering drivers for the breast cancer drugs market. Limitation pertaining to current drugs is adverse side effects including nausea, tissue damage, loss of appetite and constipation or diarrhea responsible to induce the need for novel therapies involving low side effects thereby boosting the demand for the market. It is also anticipated to be driven by Human Epidermal Growth Factor Receptor (HER)-2-targeting agents, everolimus, and ado-trastuzumab emtansine antibody drug conjugate. Advent of other novel therapies such as abraxane and albumin-bound nanoparticle drugs, incorporation of cancer biomarkers, Poly(ADP-ribose) Polymerase (PARP) inhibitors and custirsen sodium. Moreover technologies namely Molecular Breast Imaging (MBI), poly-adenosine diphosphate ribose polymerasedigital mammography, sestamibi scans and optical imaging help in faster diagnosis, consequentially expected to induce growth of breast cancer drug market over the forecast period. These facilitate benefits such as improved survival rates and personalized treatment which fuels the growth further. Moreover, early detection of cancer, targeted therapy, and reduced recurrence of the diseases is further anticipated to boost the growth of breast cancer drugs market over the forecast period.
On the basis of treatment, the global breast cancer drugs market is divided into chemotherapy, surgery & radiation therapy, targeted therapy and hormonal therapy. Chemotherapy is further categorized into anthracyclines, antimetabolites, epothilones, taxanes and alkylating agents. Hormone therapy is segregated into aromatase inhibitors and Selective Estrogen-Receptor Modulators (SERMs). Targeted therapy is segmented into monoclonal antibodies and tyrosine kinase inhibitors. As of 2014, chemotherapy dominated the breast cancer drugs market owing to factors such as destroying cancer cells, shrinking of existing tumors, and prevention of thriving, and multiplication of cancer cells resulting in reduced progression of disease. It is followed by surgery & radiation therapy as a consequence of presence of complex patient profiles having shrinked tumors which can be removed only after surgical procedure. Targeted therapy is anticipated to be the fastest growing segment due to major benefits such as localized action, less collateral damage to surrounding tissue, faster recovery rate, increased efficacy, and less toxic levels.
Geographically, breast cancer drugs market is segregated into North America, Europe, Asia Pacific, Latin America and MEA. As of 2014, North America held the largest share of high content screening market owing to significant growth factors including increasing incidences of breast cancer, rising female geriatric population base, and rising government welfare initiatives. Furthermore, sophisticated healthcare infrastructure, favorable reimbursement policies, high incorporation of particularly targeted therapies, huge investment in drug pipeline development, and increased awareness also induced market growth in this region. Asia Pacific is expected to be the fastest growing market over the next seven years owing to propelling growth factors such as rising investments by market competitors, increasing disposable income, rising awareness of the early signs of breast cancer and improving healthcare infrastructure. Moreover, inclination towards therapies such as immunotherapy and targeted therapies is also expected to drive the growth for breast cancer drugs market. Furthermore, new market entrants are anticipated to play an important role in providing growth potential to breast cancer drugs market in this region over the next seven years.
The key market players include Novartis AG, Bipar Sciences, Pfizer, Astellas, Oncogenex, Apthera Inc. and BioNumerik Pharmaceuticals. These companies focus on new product approvals and development of innovative products. These players also focus on key licensing and co-development agreements, high R&D investment, strategic partnerships and targeting regions in order to accelerate the market position. They also focus on developing new drug pipelines to increase their market share. Furthermore, competition amongst new market players is also expected to upsurge growth for breast cancer drugs market over the next seven years.
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