According to the report, the global breast cancer drugs market was valued at approximately USD 18.8 billion in 2018 and is expected to generate around USD 38.3 billion by 2025, at a CAGR of around 10.55% between 2019 and 2025.
On the 18th of March, 2019, Zion Market Research has published a new report titled “Breast Cancer Drugs Market by Drug Type (Hormone Therapy, Chemotherapy Drugs, Targeted Therapy Drugs, and Other Therapeutic Drugs): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”.
According to this report, it’s said that the global breast cancer drug market had a value of about 18.8 billion dollars in 2018 and is expected to reach 38.5 billion dollars by 2025, which would mean an annual growth of around 10.55% between 2019 and 2025.
What causes breast cancer?
Breast cancer is the second most common type of cancer worldwide and it’s said to affect nearly 2 million women.
Breast cancer is believed to be the result of uncontrolled cell division of breast cells, most commonly cells of breast lobule and ducts. It may also affect fatty or connective tissues within the breasts.
The medication market dedicated to breast cancer is driven to create more and hopefully better products due to the increase in the prevalence of breast cancer cases worldwide. Along with it, there’s also the growth of people’s incomes, health awareness and overall healthcare spending.
Investments made by major market players for novel drug development and favorable reimbursement policies are also contributing to the breast cancer drugs market globally. Additionally, government funding/grants for research and development and patent expiry will further propel this market’s growth in the future. However, the high cost of treatment may hamper the breast cancer drugs market growth.
The breast cancer drug market is divided into types and regions
The global breast cancer drugs market segments are segmented on drug type and region. Based on drug type, the market is further divided into chemotherapy drugs, hormone therapy drugs, targeted therapy drugs, and other therapeutic drugs.
From these, chemotherapy drugs held the largest market share in 2018, but current forecasts say that targeted therapy drugs are expected to show the highest CAGR over the aforementioned timeframe.
What does targeted therapy do?
Targeted therapy is meant to support the immune system destroy cancer cells by interfering with specific proteins and fight cancer cells. This type of therapy is said to be milder than chemo drugs due to having lesser side effects.
This will fuel the targeted therapy drugs’ market popularity over the estimated timeframe.
What are chemotherapeutic drugs
Chemotherapy drugs are sub-segmented into anthracyclines, taxanes, antimetabolites, alkylating agents, and epothilones. Anthracyclines segment is split into doxorubicin and epirubicin. Taxanes are split into paclitaxel and docetaxel. Antimetabolites segment is classified into fluorouracil, capecitabine, and gemcitabine. Hormone therapy drugs are classified into selective estrogen-receptor modulators (SERMs), aromatase inhibitors, and other hormonal therapies. Selective estrogen-receptor modulators segment is further split into tamoxifen, raloxifene, and toremifene. Aromatase inhibitors segment is split into letrozole, anastrozole, and megestrol. Other hormonal therapy drugs include goserelin acetate, fulvestrant, fluoxymesterone etc. The targeted therapy drugs are classified into monoclonal antibodies (mAbs) and tyrosine kinase inhibitors. Monoclonal antibodies (mAbs) are further split into bevacizumab, trastuzumab, and other mAbs.
How are breast cancer drugs divided by region?
By region, North America dominated the global breast cancer drugs market with a market share of about 43% in 2018 and is projected to retain its leading position over the forecast time period as well. This can be attributed to the increasing prevalence of breast cancer, growing health awareness, the presence of key market players in the region, ongoing drug discovery research and development projects, favorable reimbursement policies for breast cancer, increasing use of breast cancer targeted therapies as precision medicine, presence of developed healthcare infrastructure, and increasing health awareness and spending. At the country level, the U.S. is a major country for the North American breast cancer drugs market followed by Canada. In 2018, the U.S. dominated this regional with the largest market share, i.e., about 80%, owing to the high disease burden of breast cancer, changing lifestyle and dietary habits, and technological advancements.
Europe held the second largest market share in 2018 of the global breast cancer drugs market, owing to the growing adoption of targeted therapies, increasing breast cancer prevalence, favorable reimbursement policies, and developed healthcare infrastructure. Germany, France, and UK are major countries of the European breast cancer drugs market. UK is estimated to show the highest CAGR over the forecast time period. Germany contributed the largest revenue share, about 34%, to the European breast cancer drugs market followed by UK.
Asia Pacific is projected to witness the highest CAGR over the forecast time period in the global breast cancer drugs market, due to the growing health awareness, increasing disposable income, and rising healthcare spending, increasing breast cancer burden. Large geriatric population base and increasing biopharmaceutical drug development and research activities are also expected to contribute to the breast cancer drugs market in this region.
China and Japan represent the dominating countries of the Asia Pacific breast cancer drugs market. China contributed 35% revenue share to the Asia Pacific breast cancer drugs market, whereas Japan held the second largest market share in 2018. India is expected to be the fastest growing country in the region over the forecast timeline.
Original source: https://www.grandviewresearch.com