The Breast Cancer Therapy Market was valued at USD 20,206 million in 2020, and it is expected to reach approx USD 32,603 million by 2026, with an anticipated CAGR of 8.3% during the forecast period.
Due to the outbreak of COVID-19, the market is expected to face a slight setback owing to the delay in diagnosis, drug shortages, and others. Further, patients suffering from breast cancer are at higher risk of acquiring COVID-19. According to an article appearing in the JAMA Network in August 2020, there has been a significant decline in breast cancer diagnoses (by as much as 51.8 percent) in the United States from March 1, 2020, to April 18, 2020. Hence, the delay in diagnosis of breast cancer has also impacted the treatment of the same.
Certain factors that are expected to drive the market growth are the growing burden of breast cancer, increasing investments in R&D, advancements in cancer biology & pharmacology promoting drug development. According to the Globocan, in 2020, about 2,261,419 new cases of cancer were reported across the world, contributing about 11.7% of the total cancer cases.
Furthermore, the rising number of research studies associated with breast cancer therapy have accelerated the market growth during the forecast period. For instance, in November 2020, researchers from the University of Sussex have identified lemur tyrosine kinase 3 (LMTK3) plays a crucial role in cell proliferation in breast cancer. Further, they are going to advance the research towards developing LMTK3 specific drugs. Such developments are expected to hold greater opportunities in the treatment of breast cancer. Thus, this is expected to accelerate the market growth over the forecast period.
Key Market Trends
Chemotherapy is Expected to Grow with High CAGR in the Forecasted Period
As breast cancer patients are at higher risk of acquiring the infection, many of the organizations took definite measures for the management of these diseases. According to a research article by Dafina Petrova et al., published in Medicina Clinica Journal September 2020, the European Society for Medical Oncology (ESMO), the Spanish Society of Radiation Oncology (SEOR), and the Spanish Society of Medical Oncology (SEOM) have published some recommendations on how to modify treatment protocols to minimize risks in cancer patients. Such instances are expected to support the growth of chemotherapy in this market.
Chemotherapy is the most common form of therapeutics used to stop or slow down the growth of cancerous cells. It is the mainstay treatment in triple-negative breast cancer patients. The number of product launches is expected to flourish the market growth. For instance, in December 2019, Roche's Kadcyla for the adjuvant treatment of people with HER2-positive early breast cancer with the residual invasive disease after neoadjuvant treatment is received approval by European Commission. It is an adjuvant therapy that included Herceptin and taxane-based chemotherapy.
In addition, in November 2020, Merck Co & Inc. received United States Food & Drug Administration approval for Keytruda in combination with chemotherapy in the treatment of locally recurrent unresectable or metastatic triple-negative breast cancer. Hence, this is expected to drive the market growth in this segment.
Furthermore, as per the data provided by Centre for Disease Control and Prevention, November 2020, nearly 650,000 cancer patients (including breast cancer) receive chemotherapy every year. Thus, with the growing number of patients receiving chemotherapy and development of new products is expected to significantly contribute in the market studied.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. In the North American region, the United States holds the largest market share. During the pandemic situation, many studies were conducted which showed that breast cancer drugs were effective in the treatment of COVID-19. For instance, in September 2020, leronlimab designed by CytoDyn Inc. received Emergency Investigational New Drug status for the mild to the moderate treatment of COVID-19. This drug is originally used in the treatment of breast cancer.
In the United States, breast cancer is one of the leading cancer types. According to the American Cancer Society, in 2020, an estimated 276,480 new cases of invasive breast cancer have been diagnosed among women. In addition, 48,530 cases of in situ breast carcinoma have been diagnosed among women and the number of breast cancer cases is expected to increase in the coming years.
Furthermore, according to the National Institute of Health, 2020 estimates, the amount funded for breast cancer research is USD 721 million for the year 2018, USD 709 million for 2019, and USD 768 for the year 2020 across all the NIH institutes in the country. The rising investments in research and development activities are expected to support the breast cancer therapy market growth in this country.
The Breast Cancer Therapy market is competitive and consists of several major and small players. In terms of market share, few of the major players currently dominate the market. With the rising patient awareness levels and high prevalence of diseases and rising number of old age people. Some of the major players of the market are Novartis AG, Pfizer Inc, F. Hoffmann-La Roche, Eisai Co., Ltd., and Merck & Co. are among others.
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TABLE OF CONTENTS
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 High Incidence and Prevalence Rate of Breast Cancer Worldwide
- 4.2.2 Increasing Investments on R&D
- 4.2.3 Advancements in Cancer Biology & Pharmacology Promoting Drug Development
- 4.3 Market Restraints
- 4.3.1 Risk of Adverse Effects of Radiation Exposure
- 4.3.2 Stringent Regulatory Scenario
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Therapy
- 5.1.1 Radiation Therapy
- 5.1.2 Targeted Therapy
- 18.104.22.168 Herceptin
- 22.214.171.124 Tykerb (Lapatinib)
- 126.96.36.199 Afinitor
- 188.8.131.52 Others
- 5.1.3 Hormonal Therapy
- 184.108.40.206 Selective Estrogen - Receptor Modulators
- 220.127.116.11 Aromatase Inhibitors
- 18.104.22.168 Others
- 5.1.4 Chemotherapy
- 22.214.171.124 Taxanes
- 126.96.36.199 Anthracyclines
- 188.8.131.52 Anti-metabolites
- 184.108.40.206 Alkylating Agents
- 220.127.116.11 Epothilones
- 5.2 Geography
- 5.2.1 North America
- 18.104.22.168 United States (By Therapy)
- 22.214.171.124 Canada (By Therapy)
- 126.96.36.199 Mexico (By Therapy)
- 5.2.2 Europe
- 188.8.131.52 Germany (By Therapy)
- 184.108.40.206 United Kingdom (By Therapy)
- 220.127.116.11 France (By Therapy)
- 18.104.22.168 Italy (By Therapy)
- 22.214.171.124 Spain (By Therapy)
- 126.96.36.199 Rest of Europe (By Therapy)
- 5.2.3 Asia-Pacific
- 188.8.131.52 China (By Therapy)
- 184.108.40.206 Japan (By Therapy)
- 220.127.116.11 India (By Therapy)
- 18.104.22.168 Australia (By Therapy)
- 22.214.171.124 South Korea (By Therapy)
- 126.96.36.199 Rest of Asia-Pacific (By Therapy)
- 5.2.4 Middle East and Africa
- 188.8.131.52 GCC (By Therapy)
- 184.108.40.206 South Africa (By Therapy)
- 220.127.116.11 Rest of Middle East and Africa (By Therapy)
- 5.2.5 South America
- 18.104.22.168 Brazil (By Therapy)
- 22.214.171.124 Argentina (By Therapy)
- 126.96.36.199 Rest of South America (By Therapy)
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 AstraZeneca
- 6.1.2 Bristol-Myers Squibb
- 6.1.3 Eisai Co. Ltd
- 6.1.4 Eli Lilly and Company
- 6.1.5 Genentech
- 6.1.6 GlaxoSmithKline
- 6.1.7 Halozyme Inc.
- 6.1.8 Novartis AG
- 6.1.9 Pfizer Inc.
- 6.1.10 Hikma Pharmaceuticals
- 6.1.11 Baxter Healthcare Corporation
- 6.1.12 FRESENIUS KABI
- 6.1.13 Teva Pharmaceuticals
- 6.1.14 Celltrion
- 6.1.15 Myan Laboratories
7 MARKET OPPORTUNITIES AND FUTURE TRENDS