Global Breast Cancer Drugs Market to Reach USD 38.3 Billion by 2025

The global breast cancer drugs market was valued at approximately USD 18.8 billion in 2018 and is expected to generate around USD 38.3 billion by 2025, at a CAGR of around 10.55 percent between 2019 and 2025. Breast cancer is the result of uncontrolled cell division of breast cells, most commonly cells of breast lobule and ducts. It may also affect fatty or connective tissues within the breasts. Breast cancer is the second most common type of cancer worldwide, affecting nearly 2 million women. The increasing breast cancer prevalence worldwide is the major driving factor for the global breast cancer drugs market along with increasing health awareness, healthcare spending, and rising disposable income of people. Investments made by major market players for novel drug development and favorable reimbursement policies are also contributing to the breast cancer drugs market globally. Additionally, government funding/grants for research and development and patent expiry will further propel this market’s growth in the future. However, the high cost of treatment may hamper the breast cancer drugs market growth.

The global breast cancer drugs market segments are based on drug type and region. Based on drug type, the market is segmented into chemotherapy drugs, hormone therapy drugs, targeted therapy drugs, and other therapeutic drugs. Chemotherapy drugs held the largest market share in 2018, whereas targeted therapy drugs are expected to show the highest CAGR. Targeted therapy helps the immune system destroy cancer cells by interfering with specific proteins and fights the cancer cells only along with having lesser side effects as compared to chemotherapeutic drugs. This will fuel the targeted therapy drugs’ market popularity over the estimated timeframe.

Chemotherapy drugs are sub-segmented into anthracyclines, taxanes, antimetabolites, alkylating agents, and epothilones. Anthracyclines segment is split into doxorubicin and epirubicin. Taxanes are split into paclitaxel and docetaxel. Antimetabolites segment is classified into fluorouracil, capecitabine, and gemcitabine. Hormone therapy drugs are classified into selective estrogen-receptor modulators (SERMs), aromatase inhibitors, and other hormonal therapies. Selective estrogen-receptor modulators segment is further split into tamoxifen, raloxifene, and toremifene. Aromatase inhibitors segment is split into letrozole, anastrozole, and megestrol. Other hormonal therapy drugs include goserelin acetate, fulvestrant, fluoxymesterone etc. The targeted therapy drugs are classified into monoclonal antibodies (mAbs) and tyrosine kinase inhibitors. Monoclonal antibodies (mAbs) are further split into bevacizumab, trastuzumab, and other mAbs.

By region, North America dominated the global breast cancer drugs market with a market share of about 43 percent in 2018 and is projected to retain its leading position. This can be attributed to the increasing prevalence of breast cancer, growing health awareness, the presence of key market players in the region, ongoing drug discovery research and development projects, favorable reimbursement policies for breast cancer, increasing use of breast cancer targeted therapies as precision medicine, and presence of developed healthcare infrastructure. Europe held the second largest market share in 2018 of the global breast cancer drugs market, owing to the growing adoption of targeted therapies, increasing breast cancer prevalence, favorable reimbursement policies, and developed healthcare infrastructure. Asia Pacific is projected to witness the highest CAGR in the global breast cancer drugs market, due to the growing health awareness, increasing disposable income, and rising healthcare spending, increasing breast cancer burden.

Some key players of the global breast cancer drugs market include AbbVie, Inc., Novartis AG, F. Hoffmann-La Roche Ltd., AstraZeneca, Celgene Corporation, Eli Lilly and Company, Merck & Co., Inc., Biocon, Genzyme Corporation, MacroGenics, Inc., Janssen Global Services LLC, Onyx Pharmaceuticals Inc., Celldex Therapeutics, and BioNumerik Pharmaceuticals, Inc. – Zion Market Research

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