The global report on the Breast Cancer Market is expected to grow due to growing treatment intensity, and early detection owing to advancements and availability of diagnostics. As per Market Research Future (MRFR), the global breast cancer market is expected to garner a CAGR of over 9.2% over the assessment period (2016-2023). Growing awareness is a psychotropic driver of the market.
According to WHO data breast cancer is the second most occurring cancer in women after skin cancer resulting in 200,000 new cases diagnosed worldwide per year. As per the National Cancer Institute, breast cancer resulted in 268,600 cases in 2019 amounting to 15.2% of all cancer cases with a mortality of 41,760. The prevalence of breast cancer was estimated to be 3,477,866 in the U.S. alone amounting to 6.9% of all cancer deaths. The incidence of female breast cancer was 127.5 per 100,000 each year while the mortality deaths were 20.6 per 100,000 per year. About 12.8% of women are expected to be diagnosed with breast cancer. The high lifetime risk of developing breast cancer is an indication of market power.
The falling death rate and increasing 5-year relative survival of breast cancer is another driver of the market. According to canger.gov, the rates for new breast cancer is rising on an average of 0.3% each year, while death rates are falling on an average of 1.8% per year over the last decade.
Additional factors that are substantiating the market growth include the growing income of women, growing exposure to risk factors and excellent reimbursement rates for breast cancer development. The strong research pipeline for breast cancer is another driver of the market.
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Global Breast Cancer Market – Segments
The report is segmented into four dynamics to widen the scope of understanding,
By Type : Invasive Ductal Carcinoma, Invasive Lobular Carcinoma, among others.
By Treatment : Chemotherapy (Antimetabolites, Anthracyclines, Taxanes, and Alkylating Agents), Surgery & Radiation Therapy, Targeted Therapy (Tyrosine Kinase Inhibitors and Monoclonal Antibodies), Biologic Therapy, Hormone Therapy (Selective Estrogen-Receptor Modulators (SERMS), Aromatase Inhibitors and Others), among others.
By Type : Hospital Pharmacies, Private Pharmacies, among others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Breast Cancer Market – Regional Analysis
North America dominates the global breast cancer market owing to faster adoption and commercialization of new drug molecules, excellent reimbursement, presence of large players and high healthcare expenditures.
The breast cancer market in Europe is growing rapidly owing to excellent healthcare infrastructure, high healthcare expenditure and development of diagnostic centers.
The Asia Pacific breast cancer market is anticipated to emerge as the fastest-growing market owing to developing economies of China and India. Growing income, developing healthcare infrastructure and the burgeoning generics pharma manufacturing is expected to drive a large growth over the projected period.
The Middle East and Africa market are poised to grow at a fast pace owing to the high healthcare expenditure and expanding healthcare insurance in the Gulf nations.
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Global Breast Cancer Market – Competitive Landscape
The breast cancer market is a bimodal market that is fragmented and highly competitive at the generic drug class and yields a premium in the patent-protected class of drugs. Novel drug development is the strategy of choice and any drug with minimal improvement in the therapeutic and toxicological profile will gain a large market share in the least amount of time. However new drug development is fraught with high development times, cost and risk which has resulted in collaboration and partnerships with other players. These collaborations benefit from the synergies of technology and the expertise of both parties. Manufacturers are also focusing on marketing agreements so as to expand their geographical reach using other players marketing channels.
Manufacturers of breast cancer are increasingly investing in R&D activities, state of the art labs and distribution network so as to gain larger market penetration.
Players leading the global breast cancer market include Genentech (US), Pfizer (US), Novartis AG (Switzerland), Sun Pharmaceutical Industries Ltd (India), Apthera Inc (UK), BioNumerik Pharmaceuticals (US), Oncothyreon Inc (US), Oncogenex (US), Astellas (Japan), Puma Biotechnology (US), Hospira, Inc. (US), Sanofi S.A. (US), Eli Lilly and Company (US), F. Hoffmann-La Roche (Switzerland), GlaxoSmithKline (UK), Bristol-Myers Squibb Company (US), Teva Pharmaceutical Industries (Israel), Bipar Sciences (US), Accord Healthcare, Inc. (India), Actavis, Inc. (US), Gilead Sciences, Inc. (US), AstraZeneca (UK), Bayer AG (Germany), among others.