The global Breast Cancer Therapeutics Market is likely to derive growth from the increasing number of drug approvals in recent years. According to a report published by Fortune Business Insights, titled “Breast Cancer Therapeutics Market Size, Share and Industry Analysis By Therapy (Targeted Therapy, Hormonal Therapy, Chemotherapy), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Cancer Type (Hormone Receptor, HER2+), and Regional Forecast, 2019 2026,” the market was valued at USD 17,868.8 Million in 2018 and is projected to reach USD 38,573.5 Million by 2026, exhibiting a CAGR of 10.2% in the forecast period.
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Breast cancer is one of the most severe forms of cancer that affects a huge percentage of the global population. Due to the severity of the disease, there has been an increasing emphasis on the treatment of the disease. As a result, there are constant innovations and drug upgrades associated with the treatment of breast cancer. The high prevalence of this disease is one of the major factors contributing to market growth. The severity of breast cancer has led to several awareness programs related to breast cancer therapeutics and the need for early detection and treatment. The aforementioned factors will have a direct effect on the global breast cancer therapeutics market in the coming years.
Some of the Main Key Players Covered in the Report
Increasing Number of Generic Drugs by SMEs Will Emerge in Favor of Market Growth
The report highlights a few of the exceptional business strategies that are adopted by a few of the leading companies. With a view to establishing market stronghold, companies are constantly engaged in innovations and introduction of new products. This in turn, will constitute an increase in the global breast cancer therapeutics market size in the coming years. In 2019, India-based Emcure Pharma announced the launch of a generic version of a Eribulin, drug aimed at the treatment of breast cancer. The company aims to make this product available at a 40% lesser rate than the original drug. The increasing number of product launches will have a positive impact on the growth of the global breast cancer therapeutics market.
By Distribution Channel
By Cancer Type
Growing Regulatory Approvals Will Favor Market Growth
The severity of breast cancer has created an emphasis on proper diagnosis and treatment of the disease. The emphasis on the RandD of breast cancer has encouraged regulatory authorities. The increasing number of drug approvals will have a positive impact on the global breast cancer therapeutics market. In May 2019, Novartis announced that it has received approval from the US Food and Drug Administration (FDA) for Piqray. Similarly, Roche received approval from the US FDA for Kadcyla, a breast cancer therapeutic for the adjuvant treatment of people diagnosed with early breast cancer stages. Such drug approvals will help companies generate a significant breast cancer therapeutics market revenue in the coming years.
Some of the leading companies that are operating in the global breast cancer therapeutics market are Genentech (F. Hoffmann-La Roche Ltd), Eli Lilly and Company, Celgene Corporation, AstraZeneca, Pfizer Inc., Sanofi, Eisai Co. Ltd., Kyowa Kirin, Bristol Myers Squibb, Mayne Pharma Group Limited, Novartis AG, and Valeant Pharmaceutical.
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