According to the report, the global breast cancer therapeutics market, which stood at US$ 17,868.8 Mn in 2018, will reach US$ 38,573.5 Mn by the end of 2026. If these figures prove true, the global breast cancer therapeutics market will rise at a CAGR of 10.2% between 2018 and 2026.
According to the World Health Organization, in 2018, an approximate of 627,000 women, which is tantamount to 15% of all cancer deaths worldwide, succumbed to breast cancer. The rising incidence of breast cancer is one of the chief drivers of the global breast cancer therapeutics market.
KEY INDUSTRY DEVELOPMENTS:
In May 2019, Novartis announced U.S. FDA approval for the company’s new launch of breast cancer therapeutic called Piqray, a PI3K inhibitor for the treatment of advanced breast cancer
In May 2019, Roche announced the U.S. FDA approval of Kadcyla for the adjuvant treatment of individuals with HER2+ early breast cancer with the residual invasive disease after neoadjuvant treatment
In April 2019, Emcure Pharma announced the future launch of the generic version of Eisai Pharma’s breast cancer therapeutic Eribulin (Halaven)
High Intake of Oral Contraceptives Among Women, Boosting Market
Breast cancer can develop due to reasons such as reduced breast feeding, rise in age of childbearing, undergoing estrogen modifying drug treatments and high intake of oral contraceptive pills. The increase in the number of women complaining of such problems and the successive rise in the number of breast cancer cases are factors boosting the global market for breast cancer therapeutics during the forecast period.
Another factor creating lucrative growth opportunities for breast cancer therapies is the increasing number of obese women. With change in lifestyle and unhealthy food habits, the rate of obesity is increasing by the day. Obesity further causes various health problems such as cardiovascular disorders, gall bladder diseases, diabetes, breathing problems, and breast cancer among others.
By Distribution Channel:
· Hospital Pharmacies
· Retail Pharmacies
· Online Pharmacies
· North America (U.S. and Canada)
· Europe (Germany, U.K., France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, South East Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America
· Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)
North America to Remain Dominant on Account of Presence of Skilled Professionals
The breast cancer treatment market in North America is currently leading the global landscape, supported by the presence of a well-established healthcare infrastructure and rising uptake of advanced facilities in the region. In 2018, North America generated a revenue of US$ 8,033.8 Mn, because of the increasing prevalence of breast cancer in the region. In addition to this, the region boasts presence of several leading market players and skilled professionals.
Besides this, governments of developed nations such as Canada and the U.S. are providing health insurance for cancer diagnostics. Spurred by these factors the breast cancer therapeutics market is likely to flourish in North America to emerge dominant.
TABLE OF CONTENT:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions andAssumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Prevalence of BreastCancer Therapeutics by Key Countries
4.2 Regulatory Scenario byKey Regions
4.3 Key IndustryDevelopments
4.4 Overview of CurrentAdvances in R&D for Breast Cancer Therapeutics