The global breast cancer drugs market size is expected to be worth around US$ 40.4 billion by 2030, according to a new report by Vision Research Reports.
The global breast cancer drugs market size is expected to be worth around US$ 40.4 billion by 2030, according to a new report by Vision Research Reports.
The global Breast Cancer Drugs Market size was valued at US$ 17.98 billion in 2020 and is anticipated to grow at a CAGR of 11.7% during forecast period 2021 to 2030. Early detection, increase in awareness, and incidence of breast cancer are some of the key trends stoking market growth.
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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.
Therapy Insights
The targeted therapy segment captured the largest share of 63.65% in 2022 and is expected to maintain dominance during the forecasted period. The development of targeted therapies for HER2-positive and hormone receptor-positive breast cancers has revolutionized treatment, and new drugs targeting other cellular pathways involved in breast cancer growth and survival are showing promise in clinical trials. In January 2023,targeted therapy for hard-to-treat advanced breast cancers has been approved by the U.S. FDA as a result of research and advocacy by professionals fromDuke University and Duke University Health System.
Elacestrant, the newly approved drug, has been developed to address a significant unmet need. It is the first and only treatment approved to specifically combat breast cancers with mutations in the estrogen receptor ESR1, which can cause it to become resistant to standard endocrine therapy. Furthermore, immunotherapy is one of the fastest-growing areas of therapy in the market. Immunotherapy drugs, such as checkpoint inhibitors, have shown significant efficacy in improving outcomes for patients with triple-negative breast cancer. Vaccines targeting specific proteins overexpressed in breast cancer cells are also showing promise in clinical trials. As research in this field continues, immunotherapy is likely to become an increasingly important component of treatment.
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Cancer Type Insights
In 2022, the hormone receptor segment was a significant contributor to the global market. The segment accounted for the largest share of 65.47% in 2022. Hormone therapy, including SERMs, aromatase inhibitors, and LHRH agonists, is a commonly used treatment for hormone receptor-positive breast cancer. Hormone receptors, including Estrogen Receptors (ER) and Progesterone Receptors (PR), are proteins found on the surface of breast cancer cells that interact with hormones in the body, promoting the growth of these cells. Therefore, hormone therapy is a commonly used treatment for hormone receptor-positive breast cancer, which represents a significant proportion of all incidence cases. Similarly, the HER2+ segment is estimated to show significant growth during the forecast period.
The increasing number of strategic initiatives by pharmaceutical companies for developing drugs for HER2+ cancer types are positively impacting the market growth. For instance, in February 2023, Gilead Sciences announced that Trodelvy has received approval from the U.S. FDA for a third indication. This approval provides patients with an additional treatment option for the most common type of breast cancer. Trodelvy was originally approved for use in patients with advanced breast cancer, specifically those with a subtype called HR-positive/HER2-negative, who had previously undergone at least two systemic therapies and stopped responding to hormone-based therapy. Gilead, which acquired the therapy through the acquisition of Immunomedics for USD 21 billion in 2020, estimates that approximately 6,000-8,000 patients in the U.S. will be eligible for Trodelvy annually under the expanded approval.
Distribution Channel Insights
The hospital pharmacies segment held a significant revenue share of 65.47% in 2022. Hospital pharmacies play a critical role in the treatment, as they are responsible for preparing and dispensing chemotherapy drugs and other treatments to patients. In addition, hospital pharmacies are also responsible for managing the inventory and storage of these drugs, ensuring that they are stored and handled in accordance with strict regulations.
The others segment is categorized into online distribution channel and specialty stores. Online and specialty stores playa significant role in the market. These platforms offer convenience and accessibility for patients, particularly those living in remote areas or those who have difficulty accessing traditional brick-and-mortar pharmacies. This has resulted in increased competition and fragmentation in the market, with online and specialty stores capturing a significant share of the market.
Regional Insights
North America Expected to Dominate the Market Over the Forecast Period
North America was the dominant region in the market with a revenue share of 37.56% in 2022. In the U.S., breast cancer is the secondmost common cancer among women. As a result, the market in the U.S. is substantial, with a wide range of drugs available for the treatment of the disease. Some of the key players in the North America regional market include Pfizer, Roche, Novartis, AstraZeneca, and Eli Lilly, among others.
Within North America, the United States is expected to dominate the overall market throughout the forecast period. The major factors fueling the market’s growth are the increasing burden of breast cancer in the country, growing awareness about breast cancer, and increasing product launches.
In the United States, breast cancer is one of the leading cancer types. According to the January 2022 update by breastcancer.org, around 1 in 8 women in the country (about 13%) develop invasive breast cancer over their lifetime. The same source reports that, in 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, as well as 51,400 new cases of non-invasive (in situ) breast cancer. As per the same source, about 2,710 new cases of invasive breast cancer are expected to be diagnosed in men in 2022. A man’s lifetime risk of breast cancer is about 1 in 833.
Furthermore, as per an October 2021 update by the University of North Carolina’s School of Medicine, Susan G. Komen, the world’s leading breast cancer organization, announced that it would award USD 1.5 million for three new research projects that examine three unique areas focused on metastatic breast cancer (MBC).
In April 2021, Gilead Sciences Inc. reported that the US FDA granted full approval to Trodelvy (sacituzumab govitecan-hziy) for adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease. Thus the increased product approval from the US FDA is expected to boost the growth of the market over the forecast period. Thus, due to the above-mentioned factors, the market in North America is expected to grow during the forecast period.
These companies are focused on developing innovative therapies and expanding their product portfolios to address the evolving needs of patients and healthcare providers.Asia Pacific is the fastest-growing market owing to several factors, including increasing awareness and its treatment options, growing healthcare expenditures, and improving access to healthcare services. In addition, the rising incidence and prevalence of breast cancer in the region are also contributing to the market growth.
Key Companies & Market Share Insights
The global market is highly competitive due to the presence of a large number of players. These companies have a strong presence in the market, extensive product portfolios, broad geographic reach, and strong distribution networks. In addition, many of these companies have invested heavily in research and development to stay ahead of the competition and offer their customers the most advanced and innovative testing. For instance, in March 2023, Pfizer acquired Seagen for USD 43 billion, which would enhance its access to cancer medications.
Seagen already has four treatments that are available in the market, and it has a portfolio of drugs in the developmental phase, including potential remedies for advanced breast and a type of lung cancer. Seagen has a partnership with Pfizer’s Array BioPharma for the manufacture, development, and sale of Tukysa, a breast, and colorectal cancer medication. Tukysa generated USD 353 million in sales for Seagen in 2022.
Some of the key players in the global breast cancer drugs market include:
- Novartis AG
- Pfizer Inc.
- Merck KGaA
- Janssen Pharmaceuticals, Inc.
- Celgene Corporation, Inc.
- Genzyme Corp.
- F. Hoffmann-La Roche Ltd.
- AstraZeneca
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Macrogenics, Inc.
- Celldex Therapeutics
- Onyx Pharmaceuticals Inc.
Global Breast Cancer Drugs Market Segmentation
This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the breast cancer drugs market based on therapy, cancer type, distribution channel, and region:
By Therapy Outlook
-
- Targeted Therapy
- Abemaciclib
- Ado-Trastuzumab Emtansine
- Everolimus
- Trastuzumab
- Ribociclib
- Palbociclib
- Pertuzumab
- Olaparib
- Others
- Hormonal Therapy
- Selective Estrogen Receptor Modulators (SERMs)
- Aromatase Inhibitors
- Estrogen Receptor Down regulators (ERDs)
- Chemotherapy
- Immunotherapy
- Targeted Therapy
By Cancer Type
-
- Hormone Receptor
- HER2+
By Distribution Channel Outlook
-
- Hospital Pharmacies
- Retail Pharmacies
- Others
By Regional Outlook
-
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- North America
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