The global breast cancer therapeutics market is dominated by top three leading companies namely, F.Hoffmann-LaRocheLtd., Novartis AG, and Astra Zeneca. These companies collectively held a dominating 93.6% share of the global breast cancer therapeutics market. Key companies operating in the global market are currently aiming at mergers and acquisitions to maintain their dominance for the near future. Transparency Market Research (TMR), in a new report, predicts that the global breast cancer therapeutics market will exhibit a remarkable progress during the forecast period owing to the rising mergers and acquisitions. In 2015, Novartis acquired the oncology drug segment of the well-known company, GlaxoSmithKilne. This will help the company to introduce 22 new breast cancer therapeutics, including Tykerb.
The global breast cancer therapeutics market is predicted to reach US$ 16.21 bn by 2023. By region, the global market for breast cancer therapeutics was dominated by North America in 2015 and this region is likely to maintain its dominance throughout 2023. The North America breast cancer therapeutics market is predicted to exhibit a 7.30% CAGR during the period between 2015 and 2023.
HER2 Inhibitors Drug Segment to Continue its Dominance
The global breast cancer therapeutics market is expected to be dominated by the HER2 inhibitors drug segment. This segment is likely to exhibit a 6.20% CAGR from 2015 to 2023 owing to the rising patent expiration. This is because patent expiration is expected to give rise to other generic drugs.
Changing Lifestyles to Benefit Global Market
The percentage of obese people is increasing across the globe. Obesity has increased the risk of breast cancer, especially among women. “Breast cancer has now become one of the largest causes of deaths in the world,” states a TMR analyst. The rising number of people facing breast cancer has boosted the demand for breast cancer therapies. The changing lifestyles of people and the consistently rising issues of obesity are two of the factors that can be credited for the growth of the global breast cancer therapeutics market. The rise in private health insurance plans and improvements in diagnostic screening programs are also other two important factors responsible for the growth of the global breast cancer therapeutics market.
Intense Competition Led to Falling Prices of Generic Drugs
The global breast cancer therapeutics market is highly competitive as new companies are entering the mainstream. Rising competition has motivated regional drug manufacturers to lower the prices of generic drugs. The rising patent expiry has also led to the introduction of new generic drugs for breast cancer. Although the demand for breast cancer therapeutics is increasing in the developed nations, the developing nations are facing problems to access to new therapeutics. These factors are predicted to hamper the growth of the global market. Side effects of breast cancer therapeutics are also expected to challenge the global market, says a TMR analyst.
Combination Drug Therapy to Create New Opportunities
Considering the rising prevalence of breast cancer, many key companies are trying combination drug therapies for better cure. This is expected to create new growth opportunities in the market. Technological advancements and approval for multiple indications HER2 breast cancer will further invite promising growth opportunities.
This information is based on the findings of a report published by Transparency Market Research titled “Breast Cancer Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015-2023.”
The global breast cancer therapeutics market is segmented as follows:
Global Breast Cancer Therapeutics Market, by Drug Class
- Global HER2 Inhibitors Market
- Herceptin (Trastuzumab)
- Tykerb (Lapatinib)
- Perjeta (Pertuzumab)
- Kadcyla (Ado-trastuzumab emtansine)
- Global Mitotic Inhibitors Market
- Halaven (Eribulin)
- Taxotere (Docetaxel)
- Ixempra (Ixabepilone)
- Global Anti-metabolites Market
- Gemzar (Gemcitabine)
- Global Aromatase Inhibitors Market
- Femara (Leterozole)
- Aromasin (Exemestane)
- Arimidex (Anastrozole)
- Ibrance (Palbociclib)
- Afinitor (Everolimus)
- Global Hormone Receptor Market
Global Breast Cancer Therapeutics Market, by Geography
- North America
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC