The global breast cancer drug market size is expected to reach USD 38.4 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 10.7% during the forecast period. Early detection, increase in awareness, and incidence of breast cancer are some of the key trends stoking market growth.
Global
breast cancer drugs market is expected to grow lucratively as many players
focus majorly on R&D of innovative treatments. They engage in extensive
research to develop novel drugs for the treatment of the disease to gain a
higher market share. There exists a growing pressure and need for novel
therapies and treatment due to rapidly accelerating prevalence of diseases. The
strong pipeline is expected to provide new and effective treatment options and
improved outcomes than existing therapies.
With
advancements in drug delivery systems, various target specific therapies have
been customized and designed as a carrier to infuse the therapeutic agent to
the target site. Carriers for inducing target therapy include modified
anticancer agent’s specific to molecular-recognition-element, anticancer
peptides, and nanoparticle-based anticancer drugs. For instance, HER2/neu
protein is usually given in combination with other anti-cancer drugs in
targeted therapy.
F.
Hoffman-La Roche Ltd leads the breast cancer drugs market with Herceptin,
Perjeta, and Kadcyla. However, rapid advancements in biosimilars with
a goal to offer cost effective alternatives to patients is anticipated to put
pressure on this space. For instance, in December 2017, the Food and Drug
Administration (FDA) approved the first biosimilar of trastuzumab for HER2+
breast cancer.
Full Research Report On Breast Cancer Drugs Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/breast-cancer-drugs-market
Further key
findings from the report suggest:
- HER2
inhibitors is expected to be the most preferred drug class segment over
the forecast period, owing to their high specificity as they are subclass
of target therapy
- CDK 4/6
inhibitor is expected to be the fastest growing segment over the forecast
period. There are currently more than 45 CDK 4/6 inhibitor drug candidates
in pipeline
- North America
held the largest market share in 2017 owing to the factors such as the
presence of key manufacturers in the country, high awareness and adoption,
and well-established healthcare infrastructure among others
- Europe was
estimated to be the second largest regional segment in 2017 due to
increasing incidence of breast cancer and growing R&D investments
- Asia Pacific
is anticipated to witness healthy growth over the next decade due to
increasing incidence of breast cancer, rise in awareness about early
diagnosis in emerging countries such as China and India.
- Companies
such as F. Hoffmann-La Roche Ltd; Pfizer Inc.; AstraZeneca; Novartis AG;
Astellas Pharma Inc.; and Eli Lilly and Company dominated the breast
cancer drugs market
- The market is
lucrative and competitive in nature as manufacturers engage in new product
development to increase their product penetration. Moreover, they are
entering into collaborations and partnerships to enhance their product
portfolio.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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