Breast Cancer Therapeutics market valued over USD 16,502 million in 2018 and is estimated to expand at a CAGR of over 10% during the forecast period.
Increasing breast cancer prevalence due to early menarche, delayed childbirth and late menopause are some of the high impact rendering factors for breast cancer therapeutics market growth. Technological advancement in the field of cancer biology and introduction of modern diagnostics and breast cancer screening products are major market-shaping factors in the breast cancer treatment industry. There has been increasing adoption of breast cancer therapeutics owing to their advantages such as estrogen blockage from tumor cell binding, provision of a better solution than breast removal and surgery. With increasing awareness about therapeutic solutions for breast cancer, the demand for the same will only increase in years to come.
The growing rate of alcohol consumption in women, changing lifestyle, short or absence of breastfeeding, increasing practices of hormone replacement therapy and consumption of birth bills result in rising estrogen level in women worldwide, which ultimately result in breast tumor. With aforementioned factors spreading across the globe, the breast cancer rates are most likely to increase during the forecast period.
The breast cancer therapeutics market is strongly influenced by the awareness programs undertaken across many regions globally. Particularly in the U.S and major European nations where breast cancer awareness is high, the demand for therapeutic drugs also happens to be high. As the awareness will escalate more in these regions, coupled with reimbursement and government support for the breast cancer patient, the market in developed countries is poised to witness tremendous growth during the forecast period.
However, the prohibitive cost associated with breast cancer drugs is most likely to hamper industry expansion. The increasing cost of the whole course of therapy, repurchase of medicine per unit at each stage of therapy, resulting in an exorbitant amount of money. As a result, affordability becomes a major hurdle in breast cancer therapeutic drugs uptake. Moreover, many developing as well as certain regions of developed countries, women income level is low, making them distant from the therapy.
Product Market Overview
Targeted breast cancer therapy market accounts for the largest share; in 2018, it valued over USD 11,601 million. Over the forecast period, the demand for targeted therapy is estimated to increase rapidly, owing the advantages it offers. Target specificity, new blood vessel growth restriction, and immune system activation, a rapid rate of killing cells will propel the demand for targeted therapy.
Breast cancer chemotherapy market is poised to witness notable CAGR of over 9% during the forecast timeframe. The demand will be largely channeled from developing regions where target therapy uptake is low. Over the projection timeframe, the chemotherapy market growth is likely to slow down due to adverse reactions and occurrence of chemotherapy resistance seen many a majority of case.
Regional Market Overview
In 2018, U.S breast cancer therapeutics market held the largest market share in the North America region and also worldwide. As per estimated market in the U.S. accounted to over USD 6,978 million. Rising prevalence of breast cancer, increasing awareness and research and development funding from the public as well as the private sector will drive market growth over the projected timeframe.
U.K breast cancer therapeutics market accounts for more than 20% of total Europe breast cancer therapeutics market value. However, during the forecast period, Poland breast cancer therapeutics market is estimated to witness the highest CAGR of over 10%. An increasing number of breast cancer across Poland will drive growth.
Asia Pacific breast cancer therapeutics market 11.1% over the forecast period pertaining to increasing incidence of disease coupled with rising adoption of western lifestyle will fuel the business growth. Rising awareness of disease prevention, refining economic settings, and increasing adoption for technologically advanced products should drive regional business growth.
Key Industry Participants
F. Hoffmann-La Roche Ltd, Pfizer Inc., AstraZeneca, Novartis AG, Astellas Pharma Inc., and Eli Lilly are the major market players accounting for the majority of the industry share. Introduction of new products focus on developing differentiated products based on various technologies, and geographic expansion are some of the major strategies adopted by industry participants to reap benefits from promising market opportunities.
By distribution channel
- Hormone drugs
- Chemotherapy drugs
- Targeted therapy drugs
- Ambulatory surgical centers
- Retail pharmacies
- By region:
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Rest of Latin America
Increasing breast cancer prevalence
Advancements in cancer biology
Favorable reimbursement and insurance policies
High therapy cost
Increasing awareness about the breast cancer diagnosis in developing countries