Breast Cancer Therapeutics Market is expected to rise rapidly to US$ 7,853.1 million by the end of 202323 Nov 2015
Even as the breast cancer epidemic shows no signs of decelerating, the burden of this diseases has reached record levels. This burden can be put into numbers: In 2012 alone, 1,676,600 new cases of breast cancer were diagnosed among women; in the same year, 521,900 women were reported to have died of the disease. These numbers reflect the sheer burden that the disease is putting on healthcare agencies (both public and private) and governments across the world. This makes a strong case for a more dynamic and robust breast cancer therapeutics pipeline.
A disease with such far-reaching implications needs solutions of similar measure. Thus, it is easy to see why the global breast cancer therapeutics market will register a staggering CAGR of 58.3% between 2015 and 2023. According to a study published by Transparency Market Research, the global market for breast cancer therapeutics had a valuation of US$55.5 million as of 2015 and is expected to rise rapidly to US$ 7,853.1 million by the end of 2023.
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From the standpoint of companies, it is in developed countries that the maximum opportunities still lie for the global breast cancer therapeutics market. Here’s why:
The use of oral contraceptives and excessive alcohol consumption has been identified as a risk factor for breast cancer. The prevalence of these risk factors is seen to be higher in developed countries.
Medical experts and cancer researchers say that the a sedentary lifestyle, obesity, and not bearing children/conceiving a child after the age of 30 may put women at a slightly higher risk of breast cancer.
For a long time, the evidence for all of these risk factors was more suggestive than sufficient. But in recent years, many studies have established a link between the risk factors mentioned above and the occurrence of breast cancer among women.
Phase III Breast Cancer Therapeutics will Bring in Highest Revenue in Breast Cancer Therapeutics Market
As things stand today, the breast cancer pipeline remains strong and there is no dearth of molecules under development, many of which are under the phase I and phase II of clinical studies. However, much of the projected revenues in the breast cancer therapeutics market are hinged on drugs that are currently in clinical trials phase III. These include: Neratinib (Puma Biotechnology, Inc.), NKTR-102 (Nektar Therapeutics), trastuzumab emtansine + pertuzumab (Hoffmann-La Roche AG), DOXIL (Johnson & Johnson Pharmaceutical Research & Development, L.L.C), and BKM120 (Novartis).
Among all of these drugs that are currently reported as being in phase III of clinical trials, it is Neratinib that will rake in the highest revenues in the overall breast cancer therapeutics market to 2023. Pfizer Inc.’s Palbociclib + Fulvestrant is expected to outperform many other drugs candidates in the global breast cancer therapeutics pipeline once it hits the market commercially.
Market research experts recommend that companies in the breast cancer therapeutics market focus on key growth areas and on developing therapies based on biological and immunotherapy treatments. The introduction of novel and decidedly efficacious drug delivery systems will also give companies in the breast cancer therapeutics market an additional advantage.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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