The global breast cancer drug market size is expected to reach USD 38.4 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 10.7% during the forecast period. Early detection, increase in awareness, and incidence of breast cancer are some of the key trends stoking market growth.
Global breast cancer drugs market is expected to grow lucratively as many players focus majorly on R&D of innovative treatments. They engage in extensive research to develop novel drugs for the treatment of the disease to gain a higher market share. There exists a growing pressure and need for novel therapies and treatment due to rapidly accelerating prevalence of diseases. The strong pipeline is expected to provide new and effective treatment options and improved outcomes than existing therapies.
With advancements in drug delivery systems, various target specific therapies have been customized and designed as a carrier to infuse the therapeutic agent to the target site. Carriers for inducing target therapy include modified anticancer agent’s specific to molecular-recognition-element, anticancer peptides, and nanoparticle-based anticancer drugs. For instance, HER2/neu protein is usually given in combination with other anti-cancer drugs in targeted therapy.
F. Hoffman-La Roche Ltd leads the breast cancer drugs market with Herceptin, Perjeta, and Kadcyla. However, rapid advancements in biosimilars with a goal to offer cost effective alternatives to patients is anticipated to put pressure on this space. For instance, in December 2017, the Food and Drug Administration (FDA) approved the first biosimilar of trastuzumab for HER2+ breast cancer.
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Further key findings from the report suggest:
HER2 inhibitors is expected to be the most preferred drug class segment over the forecast period, owing to their high specificity as they are subclass of target therapy
CDK 4/6 inhibitor is expected to be the fastest growing segment over the forecast period. There are currently more than 45 CDK 4/6 inhibitor drug candidates in pipeline
North America held the largest market share in 2017 owing to the factors such as the presence of key manufacturers in the country, high awareness and adoption, and well-established healthcare infrastructure among others
Europe was estimated to be the second largest regional segment in 2017 due to increasing incidence of breast cancer and growing R&D investments
Asia Pacific is anticipated to witness healthy growth over the next decade due to increasing incidence of breast cancer, rise in awareness about early diagnosis in emerging countries such as China and India.
Companies such as F. Hoffmann-La Roche Ltd; Pfizer Inc.; AstraZeneca; Novartis AG; Astellas Pharma Inc.; and Eli Lilly and Company dominated the breast cancer drugs market
The market is lucrative and competitive in nature as manufacturers engage in new product development to increase their product penetration. Moreover, they are entering into collaborations and partnerships to enhance their product portfolio.
Grand View Research has segmented the global breast cancer drugs market on the basis of type and region:
Breast Cancer Drug Type Outlook (Revenue, USD Million, 2014 - 2025)
CDK 4/6 Inhibitors
Breast Cancer Drugs Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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