The breast cancer drug market growth medications is anticipated to reach US$ 11,750.33 million in 2032, having grown at a sluggish CAGR of 1.1% from 2022 to that year. The target market is projected to be worth US$ 10,637.42 million in 2022. Due to factors such rising breast cancer incidence, the development of innovative treatments, and rising awareness of the benefits of early illness detection, the market for breast cancer medications is anticipated to expand throughout the forecast period.
The breast cancer drug market will present steady growth and scale up in the global marketplace during 2022-2032. The target market is aided by increasing research activities on enhanced chemotherapy drugs and targeted therapies which have become the primary concerns of many medical centers across the globe. As per International Agency for Research on Cancer (IARC) published by the World Health Organization (WHO) in 2021, breast cancer rated as the fifth leading cause of death in women; accounting for almost 627,000 deaths each year.
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Furthermore, numerous governments and non-profit organizations are also working tirelessly and organizing programs to generate greater awareness and provide financial aid to patients suffering from breast cancer. Again, new generation treatments and bio-similar versions will aid the growth of the target market. Other factors like physical inactivity, environmental conditions, lifestyle, and hormonal changes during aging also drive the breast cancer drug market during the forecast period.
“Heightened emphasis on the development of effective treatment procedures and advanced drugs will supplement the global growth of the breast cancer drugs market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Implementation of strict regulations coupled with a lack of accessible medical attention may limit the growth of the breast cancer drugs market
- In 2022, North America’s breast cancer drugs market will account for 52.1% of the overall market share.
- Various patient support programs and campaigns regarding breast cancer awareness will drive the market growth in Europe.
- By disease indication, the HER2-positive segment will likely remain the key revenue generator during the forecast period.
- The CDK 4/6 inhibitor segment will be the fastest growing segment during 2022-2032.
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Competitive Landscape
- Hoffmann-La Roche Ltd, Pfizer Inc., AstraZeneca, Novartis International AG, Achieve Life Science, Bristol-Myers Squibb, Eisai Co. Ltd, AbbVie, Eli Lilly & Company, Celgene Corporation, Merck & Co., Amgen Plc., Celldex Therapeutics, and Biocon Genzyme Corporation among others are some of the major players in the breast cancer drugs market profiled in the full version of the report.
Leading market players are focusing on product development and new product releases. These firms employ strategic agreements and increased R&D activities to gain a competitive edge.
More Insights into Breast Cancer Drugs Market Report
In its latest report, FMI offers an unbiased analysis of the global breast cancer drugs market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of drug class (SERM (Selective Estrogen-Receptor Modulators)-based breast cancer treatment, Aromatase Inhibitors-based breast cancer treatment, Biologic Response Modifiers-based breast cancer treatment, other hormonal therapies-based breast cancer treatment), distribution channel (breast cancer drugs sales via hospital pharmacies, breast cancer drugs sales via pharmacies, breast cancer drugs sales via drug stores), and region.
According to the latest FMI reports, based on segmentation, the CDK 4/6 inhibitor will register the fastest growth during 2022-2032. This segment will perform well in the global market place owing to the fact that these drugs help improve survival rates in patients with metastatic breast cancer.
Based on region, the breast cancer drugs market in North America will demonstrate impressive growth over the assessment period. The target market in this region will hold a share of 52.1% in 2022. Increasing breast cancer cases, introduction of novel and innovative treatment procedures, and supportive governmental policies will further aid the growth of the target market. In addition to North America, Europe and Asia Pacific will also exhibit remarkable growth in the breast cancer drugs market during the forecast period.
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Key Players:
- F. Hoffmann-La Roche Ltd
- Pfizer Inc.
- AstraZeneca
- Novartis International AG
- Achieve Life Science
- Bristol-Myers Squibb
- Eisai Co. Ltd
- AbbVie
- Eli Lilly & Company
- Celgene Corporation
- Merck & Co.
Key Segments Covered in the Breast Cancer Drug Industry Analysis
By Drug Class:
- SERM (Selective Estrogen-Receptor Modulators)-based
- Aromatase Inhibitors-based
- Biologic Response Modifiers-based
- Other Hormonal Therapies-based
By Distribution Channel:
- Sales via Hospital Pharmacies
- via Pharmacies
- via Drug Stores
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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