Europe Breast Cancer Therapeutics Market Forecast to 2030 - Regional Analysis - by Drug Therapy, Breast Cancer Type, and Distribution Channel

The Europe breast cancer therapeutics market was valued at US$ 8,446.96 million in 2022 and is expected to reach US$ 16,836.17 million by 2030; it is estimated to grow at a CAGR of 9.0% from 2022 to 2030.

Increased Support from Government and Private Organizations Fuels the Europe Breast Cancer Therapeutics Market

Governments of various countries recognize the importance of addressing breast cancer and are implementing policies to improve access to effective treatments. Many governments and private organizations have increased funding for research and development in breast cancer therapeutics, resulting in the development of innovative drugs and therapies. The European Commission Initiative on Breast Cancer (ECIBC) offers universally accessible, basic quality care at all levels. The mission of ECIBC is to give women and healthcare practitioners impartial, unbiased advice on screening and care based on the most recent scientific research. The increased investment in research has allowed pharmaceutical companies to explore new treatment options and develop highly targeted and effective therapies for breast cancer patients.

Several government bodies across the world are also taking steps to improve access to these treatments by implementing reimbursement policies and healthcare initiatives that cover the cost of breast cancer therapeutics for patients. This means that more patients can afford these treatments and have access to the latest advancements in breast cancer therapeutics. The increased government support has also created a favorable market environment for healthcare providers. With more funding and resources available, healthcare providers are able to offer their patients a wider range of treatment options. This improves patient outcomes and allows healthcare providers to stay competitive in the market. Overall, the increased support from governments and private organizations for breast cancer therapeutics has driven innovation, leading to new and improved treatments. It has also improved access to these treatments, benefiting more patients. This presents a significant opportunity for the Europe breast cancer therapeutics market growth as pharmaceutical companies and healthcare providers continue to invest in research and development activities and expand their offerings to meet the growing demand.

Europe Breast Cancer Therapeutics Market Overview

The European breast cancer therapeutics market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Breast cancer is a common type of cancer in the UK. As per the National Health Service (NHS), about one in seven women are diagnosed with breast cancer during their lifespan in Great Britain data. Each year, ~55,000 women are diagnosed with breast cancer.

Greater demand from the medical industry to treat breast cancer patients with novel therapeutics has led to greater investment in R&D, fueling the growth of the market. Breast Cancer Now is the largest dedicated breast cancer research funder in the UK. To date, it has invested US$ 308.01 million (£250 million) in ground-breaking research to develop better treatment for breast cancer patients.

Additionally, the efforts of government and initiatives taken by market players have helped accelerate the growth of the breast cancer therapeutics market in the country. In November 2022, NHS rolled out an innovative and potentially life-saving breast cancer drug through a new drug deal. Pembrolizumab (Keytruda), combined with chemotherapy, reduces the chances of breast cancer progressing by almost two-fifths. The drug is delivered directly into the bloodstream every three to six weeks for over one year; the NHS funds the treatment to give access to eligible patients. It is the second new drug for triple-negative breast cancer available on the NHS, after sacituzumab govitecan (Trodelvy).

Europe Breast Cancer Therapeutics Market Segmentation

The Europe breast cancer therapeutics market is segmented based on drug therapy, breast cancer type, and distribution channel.

Based on drug therapy, the Europe breast cancer therapeutics market is segmented into targeted drug therapy, hormonal drug therapy, chemotherapy, and immunotherapy/ biological therapy. The targeted drug therapy segment held a larger share in 2022. The targeted drug therapy segment held a larger share in 2022. The targeted drug therapy segment is further subsegmented into abemaciclib, ado-trastuzumab emtansine, palbociclib, trastuzumab, and other target drug therapy. Additionally, the hormonal drug therapy segment is categorized into selective estrogen receptor modulators, aromatase inhibitors, and selective estrogen receptor downregulators.

In terms of breast cancer type, the Europe breast cancer therapeutics market is segmented into hormone receptor, HER2+, and triple-negative breast cancer. The hormone receptor segment held a larger share in 2022.

By distribution channel, the Europe breast cancer therapeutics market is segmented into hospital pharmacies, drug store and retail pharmacies, and online pharmacies. The hospital pharmacies segment held a larger share in 2022.

Based on country, the Europe breast cancer therapeutics market is categorized into Germany, France, UK, Italy, Spain, and the Rest of Europe. The UK dominated the Europe breast cancer therapeutics market in 2022.

Eli Lilly and Co, Eisai Co Ltd, Novartis AG, AstraZeneca Plc, Pfizer Inc, Gilead Sciences Inc, Merck & Co Inc, Teva Pharmaceutical Industries Ltd, and Amgen Inc are some of the leading companies operating in the Europe breast cancer therapeutics market.