The Global Breast Cancer Therapeutics Market, which stood at US$ 17,868.8 Mnin 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.
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Key Segmentation:
By Distribution Channel
By Cancer Type
By Geography
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Looming Patent Expiries Fuels Demand for Generic Drugs
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.
The global breast cancer therapeutics market is likely to witness the prevalence of high competition. According to the report, Genentech, Inc. (F. Hoffmann-La Roche Ltd) held the dominant share in the market in 2018. Its diverse product portfolio backs growth of the company in a targeted and chemotherapy segment.
With the expiry of most patent drugs in the market, there is an increased demand for their generic counterparts. Such factors are propelling vendors to invest more in research and development and develop generic drugs for breast cancer treatment. The introduction of combination drug therapy is anticipated to create better growth opportunities for the market.
Some of the Main Key Players Covered in the Report
High Intake of Oral Contraceptives Among Women, Boosting Market
Breast cancer can develop due to reasons such as reduced breastfeeding, rise in the 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 in creating lucrative growth opportunities for breast cancer therapies is the increasing number of obese women. With a 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.
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