Breast Cancer Therapeutics Market Future Scope in Personalized Medicine
Breast Cancer Therapeutics Market Future Scope in Personalized Medicine
The global breast cancer therapeutics market is experiencing significant growth, driven by the increasing prevalence of breast cancer and advancements in treatment options. As one of the most commonly occurring cancers worldwide, breast cancer necessitates effective and efficient therapeutic solutions to improve patient outcomes.
In 2019, the global breast cancer therapeutics market size was valued at USD 21.58 billion and is expected to grow to USD 55.27 billion by 2027, reflecting a compound annual growth rate (CAGR) of 13.1%. North America led the market, accounting for 47.91% of the global share in 2019.
Genentech (F. Hoffmann-La Roche Ltd) (South San Francisco, U.S.)
Eli Lilly and Company (Indianapolis, U.S.)
Novartis AG (Basel, Switzerland)
AstraZeneca (Cambridge, U.K.)
Pfizer Inc. (New York City, U.S.)
Sanofi (Paris, France)
Eisai Co. Ltd. (Tokyo, Japan)
Kyowa Kirin (Tokyo, Japan)
Bristol Myers Squibb (Celgene Corporation) (New York City, U.S.)
Merck & Co., Inc. (Kenilworth, U.S.)
Other Players
September 2020: Natco Pharma announced that its marketing partner, Lupin, launched Lapatinib Tablets, 250 mg, in the U.S. after Natco received final approval for its Abbreviated New Drug Application (ANDA) from the U.S. Food and Drug Administration (USFDA). Natco was the first ANDA applicant for Lapatinib Tablets, 250 mg, containing a Paragraph IV certification.
Increasing Prevalence of Breast Cancer: The rising number of breast cancer cases globally is a significant driver for the market. Improved diagnostics and heightened awareness have led to more patients being diagnosed and seeking treatment.
Advancements in Therapeutic Options: Continuous research and development efforts have led to the introduction of advanced therapies, including targeted therapies and immunotherapies, offering better treatment outcomes.
Growing Demand for Personalized Medicine: The shift towards personalized treatment approaches, considering individual patient profiles and tumor characteristics, is propelling the adoption of specialized therapeutics.
Adverse Effects of Therapies: Some breast cancer treatments, particularly targeted therapies and immunotherapies, may cause side effects such as skin issues, gastrointestinal problems, and fatigue, potentially limiting their adoption.
High Cost of Treatment: The expenses associated with advanced therapies can be prohibitive for some patients, especially in developing regions, hindering market growth.
Targeted Therapy: This segment is expected to lead the market during the forecast period, driven by the development of drugs like abemaciclib, trastuzumab, and olaparib. The adoption of targeted therapies is higher in developed and emerging countries due to their effectiveness and specificity.
Hormonal Therapy: Includes selective estrogen receptor modulators (SERMs), aromatase inhibitors, and estrogen receptor downregulators (ERDs). The segment is anticipated to register a lower market share due to the increasing availability of generic equivalents.
Chemotherapy: Traditional chemotherapy methods are expected to see a decline in market share owing to the influx of generic alternatives and the shift towards targeted therapies.
Immunotherapy: This segment is set to register a higher growth rate due to recent regulatory approvals and the development of novel immunotherapeutic agents.
Hormone Receptor: Accounted for the highest share in 2019, as a significant portion of breast cancer patients fall under this category. Treatments targeting hormone receptors are widely used and continue to dominate the market.
HER2+: Although this segment held a lower share in 2019, it is expected to register a higher CAGR due to recent therapeutic advancements and product launches targeting HER2-positive breast cancer.
North America: Held the highest market share in 2019, supported by advanced healthcare infrastructure, high awareness levels, and the presence of key market players.
Europe: Anticipated to hold a significant share, driven by increasing adoption of advanced therapies and supportive government initiatives.
Asia Pacific: Expected to witness substantial growth due to rising breast cancer prevalence, improving healthcare facilities, and growing awareness.
Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/industry-reports/breast-cancer-therapeutics-market-100163
The breast cancer therapeutics market is poised for continued growth, fueled by ongoing research and development, technological advancements in treatment options, and increasing global awareness. The introduction of innovative therapies and the expansion of distribution channels are expected to enhance market accessibility and patient compliance. As the prevalence of breast cancer remains high worldwide, the demand for effective and personalized treatment options will continue to drive market expansion.
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