According to a new market report published by Transparency Market Research, “Breast Cancer Therapeutics Industry Analysis, Size, Share, Growth Trends, and Forecast, 2015–2023”, the global breast cancer therapeutics market was valued at US$7.1 bn in 2014 and is estimated to reach US$16.2 bn by 2023 at a CAGR of 8.3% from 2015 to 2023.
Breast cancer is one of the most prominent types of cancer in women, accounting for 60% of deaths. It is the second most prevalent cancer among women. The breast cancer therapeutics market is witnessing strong growth due to increase in awareness, high diagnosis rate, and targeted therapies.
The U.S. accounted for the largest share of the breast therapeutics market in 2014 due to rapid approval of targeted therapies and high cost associated to these medicines.
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The breast cancer therapeutics market in Asia Pacific is anticipated to expand at the fastest growth rate during the forecast period from 2015 to 2023. Government awareness programs in schools, industries, and colleges are likely to fuel the growth of the market in Asia Pacific. Governments in countries in Asia Pacific consider breast cancer treatment top priority. Awareness programs spread across public places and free detection camps have created understanding in the common man. Europe was the second largest market for breast cancer drugs in 2014 due to increase in the female ratio of geriatric population, susceptible to breast cancer, and strengthening of drug pipeline by acquisitions of major U.S.-based companies by European players (Roche acquired Genetech, Inc. in 2005). Countries in Latin America have been identified as potential markets for breast cancer therapeutics due to rise in sedentary and unhealthy lifestyle and genetic involvement. Opening up of the economy and penetration of major pharmaceuticals are likely to propel the market.
Hoffmann-La Roche, AstraZeneca plc, Bristol-Myers Squibb, Novartis AG, Eisai Co., Ltd. and Pfizer, Inc are the major players operating in the NSLC therapeutics market.
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The global breast cancer therapeutics market has been segmented as follows:
Global Breast Cancer Therapeutics Market, by Drug Class
- HER2 Inhibitors
- Mitotic Inhibitors
- Aromatase Inhibitors
- Hormone Receptors
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)
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