Breast cancer drugs are crucial medical interventions with diverse applications, including treating various stages and types of breast cancer. Key features include targeted therapies, hormonal treatments, and chemotherapy, tailored to specific patient profiles. These drugs offer numerous advantages, such as shrinking tumor size, reducing cancer spread, and improving survival rates. Additionally, they help manage symptoms, enhance quality of life, and provide personalized treatment options, supporting patients on their journey to overcoming breast cancer and improving overall outcomes.
According to Data Bridge Market Research, the Global Breast Cancer Drug Market accounted for USD 10,637.42 million in 2022 and is expected to reach USD 11,750.33 million by 2030. The market is expected to grow with a CAGR of 1.1% in the forecast period of 2023 to 2030.
“Rising prevalence of breast cancer boosts the market’s growth”
The rising prevalence of breast cancer is a significant driver of growth in the breast cancer drug market. With increasing cases of breast cancer globally, there is a higher demand for effective treatments to combat this deadly disease. Pharmaceutical companies are continuously investing in research and development to introduce innovative and targeted therapies for breast cancer patients. Additionally, advancements in precision medicine and personalized treatments are further contributing to the market's expansion, providing patients with better survival rates and improved quality of life.
What restraints the growth of the global breast cancer drug market?
“High cost of treatment restraints the market’s growth”
The high cost of breast cancer treatment acts as a restraint on the market's growth. Cancer drugs, especially targeted therapies and immunotherapies, can be expensive, leading to financial burden for patients and healthcare systems. Additionally, the cost of developing and manufacturing these drugs adds to the overall treatment expenses. Limited access to affordable treatment options may deter patients from seeking timely and effective care, affecting market growth. Addressing affordability challenges through innovative pricing strategies and healthcare policy interventions is crucial to support market expansion.
Segmentation: Global Breast Cancer Drug Market
The global breast cancer drug market is segmented on the basis of type, stages, treatment type, mechanism of cation type, drug type, route of administration, and end user.
- On the basis of type, the global breast cancer drug market is segmented into ductal carcinoma in situ (DCIS), invasive ductal carcinoma (IDC), tubular carcinoma of the breast, medullary carcinoma of the breast, mucinous carcinoma of the breast, papillary carcinoma of the breast, cribriform carcinoma of the breast, invasive lobular carcinoma (ILC), inflammatory breast cancer, lobular carcinoma in situ (LCIS), male breast cancer, molecular subtypes of breast cancer, paget's disease of the nipple, phyllodes tumors of the breast, metastatic breast cancer and others.
- On the basis of stages, the global breast cancer drug market is segmented into T: primary tumor size, N: lymph node involvement, M: cancer spread beyond the breast and lymph nodes.
- On the basis of treatment type, the global breast cancer drug market is segmented into chemotherapy, targeted therapy, immunotherapy, surgery, medication and others.
- On the basis of mechanism of cation type, the global breast cancer drug market is segmented into HER2 inhibitors, mitotic inhibitors, anti-metabolites, aromatase inhibitors, CDK 4/6 inhibitors, hormonal receptor and others.
- On the basis of drug type, the global breast cancer drug market is segmented into herceptin hylecta, atezolizumab, talazoparib, ribociclib, abemaciclib, neratinib, palbociclib and others.
- On the basis of route of administration, the global breast cancer drug market is segmented into oral and injectable.
- On the basis of end user, the global breast cancer drug market is segmented into hospitals, homecare, specialty clinics, and others.
Regional Insights: North America dominates the Global Breast Cancer Drug Market
North America dominates the breast cancer drug market due to major key players, high disposable income, substantial healthcare expenditure, and a well-established healthcare sector. These factors contribute to the region's leading position in the industry.
Asia-Pacific is expected to grow during the forecast period of 2023-2030 due to increasing research and development activities, substantial investment in the healthcare sector, and growing government support. These factors foster innovation, enable the introduction of advanced medical treatments, and create a favourable environment for the expansion of the healthcare industry.
To know more about the study visit, https://www.databridgemarketresearch.com/de/reports/global-breast-cancer-drug-market
Recent Developments
- In December 2022, Merck KGaA, a prominent science and technology company, has revealed a research collaboration and commercial license agreement with Mersana Therapeutics, Inc. based in Cambridge, Massachusetts, USA. The collaboration aims to explore novel antibody-drug conjugates (ADCs) utilizing Mersana's proprietary Immunosynthen STING-agonist ADC platform, with a focus on targeting up to two specific targets for potential therapeutic applications.
- In January 2021, Novartis AG has announced a strategic collaboration with Alnylam to utilize Alnylam's established and proprietary siRNA technology. The aim is to inhibit a specific target identified at the Novartis Institutes for BioMedical Research, with the potential to develop a treatment that facilitates the regeneration of functional liver cells. This collaboration holds promise for offering an alternative to liver transplantation for patients experiencing liver failure.
The Prominent Key Players Operating in the Global Breast Cancer Drug Market Include:
- Merck & Co., Inc.(U.S.)
- Sanofi (France)
- Novartis AG (U.S.)
- Astellas Pharma Inc.(Japan)
- Pfizer Inc.(U.S.)
- Abbott (U.S.)
- Lilly (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Takeda Pharmaceutical Company Limited. (Japan)
- F. Hoffmann-La Roche Ltd,(U.S.)
- Mylan N.V,(U.S.)
- GlaxoSmithKline plc.(U.S.)
- AstraZeneca (U.K,)
- AbbVie Inc.(U.S.)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Johnson & Johnson Services Group(U.S.)
- CELGENE CORPORATION (U.S.)
- Celldex Therapeutics
- MacroGenics, Inc (U.S.)
- Eisai Co., Ltd.(U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global breast cancer drug market companies contact, https://www.databridgemarketresearch.com/de/contact
Research Methodology: Global Breast Cancer Drug Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
