Pune, India, Jan. 11, 2021 (GLOBE NEWSWIRE) -- The global breast cancer therapeutics market is set to gain impetus from the ongoing research and developments to come up with state-of-the-art drugs. This information is given by Fortune Business Insights™ in a new study. The study further mentions that the market size was USD 21.58 billion in 2019 and is projected to reach USD 55.27 billion by 2027, exhibiting a CAGR of 13.1% during the forecast period.
Increasing Development of State-of-the-art Products to Favor Growth
Nowadays, several renowned companies are constantly launching new breast cancer therapeutics worldwide. Most of these drugs are meant for the treatment of those types of breast cancers that were previously untreatable or the available drugs were not successful for providing positive outcomes. These factors are expected to accelerate the breast cancer therapeutics market growth in the forthcoming years.
However, certain severe reactions can come up while undergoing this type of cancer therapeutics, such as targeted therapies. Patients can suffer from nausea, fatigues, rashes, gastrointestinal problems, or high blood pressure. These may hinder growth.
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Hormonal Therapy Segment to Register Lower Growth in Forthcoming Years
Based on therapy, the hormonal therapy segment generated 8.3% in terms of the breast cancer therapeutics market share in 2019. It is likely to exhibit lower growth in the coming years on account of the rising availability of their generic equivalents.
COVID-19 Pandemic to Affect Growth Moderately as Cancer Requires Immediate Attention
The COVID-19 pandemic has moderately affected the growth of the breast cancer therapeutics industry worldwide as cancer is considered to be an essential condition that requires immediate medical attention. But, in some regions, there were a few postponements or cancellations of these procedures to prevent physical contact.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/breast-cancer-therapeutics-market-100163
North America to Remain at the Forefront Stoked by Rising Awareness Programs
Regionally, North America procured USD 10.34 billion in 2019 in terms of revenue. The rising prevalence of breast cancer, presence of numerous providers of breast cancer therapeutics, and the surging awareness of this condition are expected to augment growth in this region. The American Cancer Society, for instance, declared that the U.S. is set to experience around 276,480 new cases of invasive breast cancer in 2020.
Europe, on the other hand, is likely to retain its second position fueled by the high demand for advanced and sophisticated breast cancer therapeutics. In Asia Pacific, the market would grow rapidly because of the increasing healthcare expenditure. Lastly, the Middle East & Africa and Latin America are anticipated to show robust growth on account of the rising patient population in both regions.
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Key Players Aim to Gain Fast Track Approvals to Compete with Their Rivals
This global market houses a large number of companies that are nowadays striving to gain fast track approvals from government healthcare agencies to distribute and market their products. Some of the others are focusing on developing unique breast cancer therapeutics to cater to the unmet demand. Below are the two latest industry developments:
- September 2020: Lupin introduced Lapatinib Tablets, 250 mg, after its partner Natco Pharma received approval from the USFDA. These will be used to treat patients suffering from metastatic or advanced breast cancer.
- November 2019: Daiichi Sankyo Company and AstraZeneca declared that their HER2-directed antibody-drug conjugate named Enhertu was approved by the USFDA. It is meant for the treatment of adult patients living with metastatic or unresectable HER2-positive breast cancer.
A list of all the renowned therapeutics providers present in this global market:
- Genentech (F. Hoffmann-La Roche Ltd) (South San Francisco, U.S.)
- Eli Lilly and Company (Indianapolis, U.S.)
- Novartis AG (Basel, Switzerland)
- AstraZeneca (Cambridge, U.K.)
- Pfizer Inc. (New York City, U.S.)
- Sanofi (Paris, France)
- Eisai Co. Ltd. (Tokyo, Japan)
- Kyowa Kirin (Tokyo, Japan)
- Bristol Myers Squibb (Celgene Corporation) (New York City, U.S.)
- Merck & Co., Inc. (Kenilworth, U.S.)
- Other Players
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Breast Cancer, By Key Countries/Regions, 2019
- Regulatory Scenario by Key Regions
- Overview of Current Advances in R&D for Breast Cancer Therapeutics
- Key Industry Developments
- New Product Launches
- Global Breast Cancer Therapeutics Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Therapy
- Targeted Therapy
- Abemaciclib
- Ado-Trastuzumab Emtansine
- Everolimus
- Trastuzumab
- Ribociclib
- Palbociclib
- Pertuzumab
- Olaparib
- Others
- Hormonal Therapy
- Selective Estrogen Receptor Modulators (SERMs)
- Aromatase Inhibitors
- Estrogen Receptor Downregulators (ERDs)
- Chemotherapy
- Immunotherapy
- Targeted Therapy
- Market Analysis, Insights and Forecast – By Cancer Type
- Hormone Receptor
- HER+
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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