The breast cancer drugs market valued for $26.4 billion in 2022 and is estimated to reach $59.3 billion by 2032, exhibiting a CAGR of 8.4% from 2023 to 2032.
Breast cancer is a type of cancer that develops in the breast tissue. It occurs when the cells in the breast grow and divide uncontrollably, forming a tumor. These tumors can be malignant (cancerous) or benign (non-cancerous). It predominantly occurs in women, however, it can also occur in men, although it is relatively rare. It can originate in different parts of the breast, such as the milk ducts, the lobules (which produce milk), or the connective tissue. The most common type of breast cancer occurs in the milk ducts and is known as ductal carcinoma, while cancer originating in the lobules is called lobular carcinoma. Moreover, the treatment for breast cancer involves a combination of different approaches, Including chemotherapy, targeted therapy, and hormone therapy. Each treatment modality serves a specific purpose in managing and combating breast cancer, and the selection of treatment depends on various factors, such as the stage & type of breast cancer, the presence of specific receptors, and the patient's overall health & preferences.
The major factors that drive the growth of breast cancer drugs market are rise in prevalence of breast cancer, advancements in diagnostic techniques, and Increase in awareness about breast cancer and available treatment options. It is a significant global health concern, impacting millions of women worldwide. The Incidence of breast cancer has been steadily rising over the years, making it one of the most prevalent cancers among women. For instance, according to World Health Organization (WHO) 2021, about 2.3 million women were diagnosed with breast cancer globally in 2020, thus rise in prevalence of breast cancer is expected to fuel the growth of market. In addition, early detection and diagnosis are vital in improving the prognosis of breast cancer. Regular breast self-examinations, clinical breast examinations, and mammography screenings can help detect breast cancer in its early stages when treatment is most effective. Thus, advancements in diagnostic techniques for early detection of breast cancer is anticipated to boost the growth of the market.
Furthermore, with rise in Incidence of breast cancer cases, there is an upsurge in focus on improving treatment options for breast cancer patients. The objective is to develop drugs that not only enhance survival rates, however, also minimize side effects and improve the quality of life for patients. This drive for better treatment options encourages pharmaceutical companies and researchers to invest in the development of more effective and well-tolerated drugs to treat breast cancer and drive the market growth. Furthermore, growing awareness about breast cancer, its risk factors, and the importance of regular screenings have led to an Increase in the number of women undergoing breast cancer screening. In addition, government initiatives, non-profit organizations, and healthcare campaigns have played a crucial role in raising awareness and encourage women to undergo regular mammograms and clinical examinations. Increased screening rates drive early diagnosis and subsequently lead to surge in demand for breast cancer drugs, thus propelling the market growth.
However, factor such as side effects associated with drugs is anticipated to restrain the growth of market. Many breast cancer drugs have associated side effects and toxicities that can affect patients’ quality of life. For instance, chemotherapy is known for causing side effects such as hair loss, nausea, fatigue, and immunosuppression, thereby hindering market growth. Moreover, rise in demand for novel therapeutics for treating breast cancer, Increase in R&D activities for development of new and more effective drugs, and rise in regulatory approvals for anticancer drugs are expected to offer lucrative opportunities to key players of breast cancer drugs market.
The breast cancer drugs market is segmented on the basis of therapy, age group, distribution channel, and region. On the basis of therapy, the market is categorized into chemotherapy, hormonal therapy, targeted therapy, and immunotherapy. On the basis of age group, the market is bifurcated into below 55 years and above 55 years. On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global breast cancer drugs market are Gilead Sciences, Inc., Novartis AG, Pfizer Inc., AstraZeneca, Eli Lilly and Company, Merck & Co., Inc., Bristol-Myers Squibb Company, Zydus Lifesciences Limited, Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd. The key players have adopted strategies such as acquisition, funding, product launch, and product approval to expand their product portfolio.
Breast cancer is a type of cancer that develops in the breast tissue. It occurs when the cells in the breast grow and divide uncontrollably, forming a tumor. These tumors can be malignant (cancerous) or benign (non-cancerous). It predominantly occurs in women, however, it can also occur in men, although it is relatively rare. It can originate in different parts of the breast, such as the milk ducts, the lobules (which produce milk), or the connective tissue. The most common type of breast cancer occurs in the milk ducts and is known as ductal carcinoma, while cancer originating in the lobules is called lobular carcinoma. Moreover, the treatment for breast cancer involves a combination of different approaches, Including chemotherapy, targeted therapy, and hormone therapy. Each treatment modality serves a specific purpose in managing and combating breast cancer, and the selection of treatment depends on various factors, such as the stage & type of breast cancer, the presence of specific receptors, and the patient's overall health & preferences.
The major factors that drive the growth of breast cancer drugs market are rise in prevalence of breast cancer, advancements in diagnostic techniques, and Increase in awareness about breast cancer and available treatment options. It is a significant global health concern, impacting millions of women worldwide. The Incidence of breast cancer has been steadily rising over the years, making it one of the most prevalent cancers among women. For instance, according to World Health Organization (WHO) 2021, about 2.3 million women were diagnosed with breast cancer globally in 2020, thus rise in prevalence of breast cancer is expected to fuel the growth of market. In addition, early detection and diagnosis are vital in improving the prognosis of breast cancer. Regular breast self-examinations, clinical breast examinations, and mammography screenings can help detect breast cancer in its early stages when treatment is most effective. Thus, advancements in diagnostic techniques for early detection of breast cancer is anticipated to boost the growth of the market.
Furthermore, with rise in Incidence of breast cancer cases, there is an upsurge in focus on improving treatment options for breast cancer patients. The objective is to develop drugs that not only enhance survival rates, however, also minimize side effects and improve the quality of life for patients. This drive for better treatment options encourages pharmaceutical companies and researchers to invest in the development of more effective and well-tolerated drugs to treat breast cancer and drive the market growth. Furthermore, growing awareness about breast cancer, its risk factors, and the importance of regular screenings have led to an Increase in the number of women undergoing breast cancer screening. In addition, government initiatives, non-profit organizations, and healthcare campaigns have played a crucial role in raising awareness and encourage women to undergo regular mammograms and clinical examinations. Increased screening rates drive early diagnosis and subsequently lead to surge in demand for breast cancer drugs, thus propelling the market growth.
However, factor such as side effects associated with drugs is anticipated to restrain the growth of market. Many breast cancer drugs have associated side effects and toxicities that can affect patients’ quality of life. For instance, chemotherapy is known for causing side effects such as hair loss, nausea, fatigue, and immunosuppression, thereby hindering market growth. Moreover, rise in demand for novel therapeutics for treating breast cancer, Increase in R&D activities for development of new and more effective drugs, and rise in regulatory approvals for anticancer drugs are expected to offer lucrative opportunities to key players of breast cancer drugs market.
The breast cancer drugs market is segmented on the basis of therapy, age group, distribution channel, and region. On the basis of therapy, the market is categorized into chemotherapy, hormonal therapy, targeted therapy, and immunotherapy. On the basis of age group, the market is bifurcated into below 55 years and above 55 years. On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global breast cancer drugs market are Gilead Sciences, Inc., Novartis AG, Pfizer Inc., AstraZeneca, Eli Lilly and Company, Merck & Co., Inc., Bristol-Myers Squibb Company, Zydus Lifesciences Limited, Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd. The key players have adopted strategies such as acquisition, funding, product launch, and product approval to expand their product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the breast cancer drugs market analysis from 2022 to 2032 to identify the prevailing breast cancer drugs market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the breast cancer drugs market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global breast cancer drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Therapy
- Chemotherapy
- Hormonal therapy
- Targeted therapy
- Immunotherapy
By Age group
- Below 55 years
- Above 55 years
By Distribution channel
- Hospital Pharmacies
- Drug Store and Retail Pharmacies
- Online Providers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Merck & Co., Inc.
- Zydus Lifesciences Limited
- Gilead Sciences, Inc.
- Novartis AG
- Eli Lilly and Company
- AstraZeneca plc
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BREAST CANCER DRUGS MARKET, BY THERAPY
CHAPTER 5: BREAST CANCER DRUGS MARKET, BY AGE GROUP
CHAPTER 6: BREAST CANCER DRUGS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: BREAST CANCER DRUGS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Breast Cancer Drugs Market,' The breast cancer drugs market was valued at $26.4 billion in 2022, and is estimated to reach $59.3 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.Breast cancer is a type of cancer that forms in the cells of the breast. It is the most common cancer in women; however, it can also affect men. It typically starts as a lump or mass in the breast and can spread to other parts of the body if not detected and treated early. Drugs used to treat breast cancer include chemotherapy agents, hormone therapies, targeted therapies (such as HER2 inhibitors), and immunotherapies, depending on the subtype and characteristics of the tumor.
Key factors driving the growth of the breast cancer drugs market are rising incidence and prevalence of breast cancer, reimbursement policies for breast cancer therapy and rising healthcare infrastructure. One of the primary drivers of the breast cancer drugs market is the increasing incidence and prevalence of breast cancer globally. Breast cancer is the most common cancer among women, and the growing number of cases drives the demand for effective treatment options, including pharmaceutical drug thearpy such as targeted and hormonal therapy. The aging population is another significant driver of the breast cancer drugs market. Breast cancer predominantly affects older individuals, and as the global population continues to age, the number of breast cancer cases is expected to increase. Older patients often require specific treatment approaches, leading to the development of targeted therapies and hormone-based drugs. In addition, growing awareness about breast cancer, coupled with the implementation of screening programs, has led to earlier diagnosis and improved survival rates. As a result, the demand for breast cancer drugs has increased, as timely treatment initiation is crucial for optimal patient outcomes.
Further, advances in diagnostic technologies have revolutionized breast cancer detection and contributed to the growth of the market. Innovations such as digital mammography, magnetic resonance imaging (MRI), and molecular diagnostics enable early detection, accurate staging, and personalized treatment selection, driving the demand for corresponding therapeutic interventions. Furthermore, pharmaceutical industry's ongoing investments in research and development contribute to the expansion of the breast cancer drugs market. Companies invest significant resources in developing new drug candidates, conducting clinical trials, and exploring novel treatment approaches. These investments drive innovation and ensure a pipeline of promising therapies.
Moreover, regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have implemented expedited approval pathways for innovative breast cancer drugs. These pathways aim to accelerate the development and availability of promising therapies, promoting market growth, and ensuring patients' access to novel treatments. For instance, in August 2022, AstraZeneca and Daiichi Sankyo's ENHERTU (fam-trastuzumab deruxtecan-nxki) has been approved in the US for the treatment of adult patients with unresectable or metastatic HER2-low breast cancer who have received a prior chemotherapy in the metastatic setting or developed disease recurrence during or within six months of completing adjuvant chemotherapy. The market also offers growth opportunities to the key players in the market. Many developing regions such India and Brazil offer lucrative opportunities to key players of breast cancer drugs market owing to increase in demand of novel therapeutics, increase in breast cancer cases and rise healthcare spending.
The breast cancer drugs market is segmented on the basis of therapy, age group, distribution channel, and region. Based on therapy, the market is categorized into chemotherapy, hormonal therapy, targeted therapy, and immunotherapy. Based on age group, the market is bifurcated into below 55 years and above 55 years. Based on distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Gilead Sciences, Inc., Novartis AG, Pfizer Inc., AstraZeneca, Eli Lilly and Company, Merck & Co., Inc., Bristol-Myers Squibb Company, Zydus Lifesciences Limited, Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd. The key players have adopted strategies such aa acquisition, funding, product launch, and product approval to expand their product portfolio.
Key Market Insights
- On the basis of therapy, the targeted therapy segment dominated the market in terms of revenue in 2022. On the other hand, hormonal therapy is expected to witness highest CAGR during the forecast period.
- Based on age group, the above 55 years segment dominated the market in terms of revenue in 2022.
- On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022. However, the online providers segment is anticipated to grow at the highest CAGR during the forecast period.
- Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Merck & Co., Inc.
- Zydus Lifesciences Limited
- Gilead Sciences, Inc.
- Novartis AG
- Eli Lilly and Company
- AstraZeneca plc
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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