Breast Cancer Drugs Global Market Report 2024

The breast cancer drugs market size has grown strongly in recent years. It will grow from $36.42 billion in 2023 to $39.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed in the historical period can be attributed to various factors. These include the rising incidence of breast cancer, notable advancements in research and development, enhanced screening and early detection methods, and the evolution of treatment guidelines. Additionally, the growth has been driven by ongoing developments in healthcare infrastructure.

The breast cancer drugs market size is expected to see strong growth in the next few years. It will grow to $54.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the upcoming forecast period can be attributed to several key factors. These include the increasing aging population, the expanding opportunities in emerging markets, supportive policies and regulations within the healthcare industry, and the growing influence of patient advocacy and awareness. Furthermore, some noteworthy trends in this forecast period encompass the rise of personalized medicine, the development of targeted therapies and immunotherapies, a focus on clinical trials and drug pipeline advancements, the utilization of combination therapies, the prominence of biomarker-driven treatments, and the adoption of telemedicine and remote monitoring solutions.

The breast cancer drug market is being driven by the increasing incidence of breast cancer. Breast cancer is the most prevalent cancer type affecting women, with an annual occurrence of about 2.1 million cases. In 2021, there were approximately 284,200 new breast cancer cases in the United States, leading to 44,130 deaths, as reported by the American Cancer Society. Factors contributing to breast cancer include heredity, age, and lifestyle, and it is more frequently diagnosed in developed countries. The growing number of breast cancer diagnoses fuels the demand for breast cancer drugs, consequently boosting market growth.

These drugs can be categorized into various types, including HER2 inhibitors, mitotic inhibitors, anti-metabolites, aromatase inhibitors, and hormonal receptors. Mitotic inhibitors, for instance, are designed to impede cell division, disrupting microtubules responsible for pulling apart chromosomes during cell division. Breast cancer drugs serve a range of applications, such as treating metastatic breast cancer and addressing different subtypes like triple-negative breast cancer. They are used across multiple healthcare sectors, including hospitals and clinics. The distribution of these drugs is facilitated through various channels, including ambulatory surgical centers, hospitals, clinics, retail pharmacies, and online platforms.

The breast cancer drugs market research report is one of a series of new reports that provides breast cancer drugs market statistics, including breast cancer drugs industry global market size, regional shares, competitors with a breast cancer drugs market share, detailed breast cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the breast cancer drugs industry. This breast cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The breast cancer drug market is expected to experience growth due to the rising adoption of targeted therapies. Targeted therapies are a category of treatments designed to specifically target molecules or pathways involved in disease progression, notably in cancer. These therapies offer more effective and personalized treatment options, resulting in reduced side effects and improved survival rates. Furthermore, they encourage research and development, increase patient awareness, and obtain regulatory approvals, all of which contribute to market expansion. For example, Amgen Inc. reported strong sales growth in their targeted cancer drugs, including BLINCYTO (up by 25%), Vectibix (up by 8%), and KYPROLIS (up by 4%) in their 2021 annual report.

The breast cancer drug market faces constraints stemming from adverse side effects associated with these drugs. Breast cancer treatments can lead to both short-term and long-term side effects, such as headaches, dental issues, osteoporosis, heart problems, cataracts, blood clots, infertility, and others. Patients often rely on alternative or complementary treatments to manage these side effects, leading to increased overall treatment costs. Additionally, the persistent nature of some side effects may deter patients from using breast cancer drugs, impacting the market's growth prospects.

In the breast cancer drugs market, manufacturers are increasingly forging collaborative partnerships to drive business expansion. AstraZeneca, for instance, recently entered into a $6.9 billion partnership aimed at jointly developing the breast cancer drug trastuzumab deruxtecan. Under this agreement, both companies will share global development and commercialization costs for the drug. In a similar vein, Novartis joined forces with IBM Watson Health to create a solution that determines optimal drug combinations and sequences for improved patient outcomes.

Key players in the breast cancer drugs market are focusing on developing novel targeted therapies to gain a competitive advantage. Targeted therapies are specialized treatments designed to specifically target molecules or pathways involved in the growth and spread of diseases like breast cancer. In August 2022, the United States Food and Drug Administration (FDA) approved Enhertu as the first targeted therapy for HER2-low breast cancer, a subgroup that was previously categorized as HER2-negative. Clinical trials have shown that Enhertu can significantly enhance progression-free and overall survival rates for patients with HER2-low breast cancer. This approval marks a notable advancement in the customization of treatments for distinct breast cancer subtypes and aligns with the FDA's precision medicine commitment and the goals of the Cancer Moonshot program.

Manufacturers of breast cancer drugs must adhere to the regulatory oversight of various bodies, including the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA) in the European Union. The EMA plays a crucial role in regulating the breast cancer drug market by granting licenses to drugs that have demonstrated both safety and clinical efficacy. These drugs undergo rigorous evaluation to assess their benefits and risks, including post-usage effects. Following approval from the EMA, a drug can be commercially distributed within the European Union. It's worth noting that conditional marketing authorization may be granted by the EMA, signifying approval, but this can be revoked if safety or effectiveness concerns arise.

Major companies operating in the breast cancer drugs market include F. Hoffmann-La Roche Ltd., Novartis AG, AstraZeneca PLC, Eli Lilly and Company Inc., Biocon Limited, Merck & Co. Inc., Genzyme Corporation, Johnson & Johnson, MacroGenics Inc., Celldex Therapeutics Inc., Onyx Pharmaceuticals Inc., BioNumerik Pharmaceuticals Inc., AbbVie Inc., Pfizer Inc., OncoGenex Pharmaceuticals Inc., Astellas Pharma Inc., Bristol-Myers Squibb Company, Bayer AG, GlaxoSmithKline PLC, Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Apthera Inc., Oncothyreon Inc., BiPar Sciences Inc., Puma Biotechnology Inc., Sanofi S.A., Genentech Inc., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Eisai Co. Ltd., Mylan N.V., Dr. Reddy's Laboratories Ltd., Accord Healthcare Limited, Alkem Laboratories Limited, Natco Pharma Limited, Fresenius Kabi AG, Lupin Limited, Glenmark Pharmaceuticals Limited

North America was the largest region in the breast cancer drugs market in 2023. The Middle East is expected to be the fastest-growing region in the breast cancer drugs market during the forecast period. The regions covered in the breast cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the breast cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The breast cancer drugs market consists of sales of Abemaciclib, Alpelisib, Anastrozole, and Aredia. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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