Asia Pacific is Witnessing an Increasing Demand for Breast Cancer Drugs
" The global breast cancer drugs market is expected to witness a CAGR of 9.4% during the forecast period to reach revenue over $35.0 billion by 2025 "
With its recently published study “Global Breast Cancer Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global breast cancer drugs market will continue to grow, owing to increase in the incidence & prevalence of breast cancer cases globally, huge investment in R&D to develop advanced treatment, and numerous initiatives are taken by the government to raise disease awareness. An increase in the number of pipelined breast cancer drugs is projected to support the market growth during the forecast period 2019–2025.
The global breast cancer drugs market, by drug type, is segmented into HER2 inhibitors, mitotic inhibitors, anti-metabolites, CDK4/6 inhibitors, and hormonal receptors. Among these, the HER2 inhibitors segment occupied a major share in 2018 and CDK4/6 is expected to grow at mid-double digit CAGR during the forecast period 2019–2025. Increasing life expectancy in patients with metastatic hormone receptor (HR)-positive/human epidermal growth factor 2 (HER2)-negative disease and the huge number of drugs in the pipeline make it the fastest-growing segment in the next few years.
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Cancer Research UK, the world’s leading cancer charity, and Hummingbird Bioscience entered into a partnership in August 2019, to develop Hummingbird’s anti-HER3 antibody-drug, HMBD-001, for the treatment of people with HER3-driven cancer. Under the collaboration, Cancer Research UK’s Centre for Drug Development will fund the program, manufacture the clinical-grade antibody, and will also conduct a phase I clinical trial that will evaluate the safety, toxicity, and efficacy of the drug.
Key companies use product approval as one of the strategies to have an edge in the market. For instance, in March 2019, Pfizer Inc. received FDA approval for TRAZIMERA (trastuzumab-qyyp), a biosimilar to Herceptin (trastuzumab), for the treatment of HER2 overexpressing breast cancer and HER2 overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma. The drug is approved for the treatment of non-metastatic HER2-positive breast cancer that has spread to the lymph nodes or is not in the lymph nodes but the cancer is considered to be at high risk of recurrence.
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The global breast cancer drugs market is segmented in the regions of North America, Europe, Asia Pacific, and Rest of the World. North America occupied a significant market share in 2018, and Asia Pacific is likely to grow at a high CAGR during the forecast period. The presence of standard healthcare infrastructure, increasing awareness about early disease diagnosis, and the presence of established players are among the factors that make North America a major shareholder of the global breast cancer drugs market.
“The use of immuno-oncology therapies and the therapy with novel CDK 4/6 inhibitors of HER-2 negative breast cancer have increased significantly in the developed countries. Growing cases of breast cancer, robust late-stage oncology pipeline, and high investment in R&D for innovative drug development are expected to drive the market growth.” – Arpitha Shetty, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- By Drug Type:
- HER2 Inhibitors
- Mitotic Inhibitors
- CDK4/6 Inhibitors
- Hormonal Receptors
- By Regions:
- North America
- Asia Pacific
- Rest of the World
- Industry Outlook: Market trends, drivers, restraints, and opportunities