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The breast cancer therapy market was valued at USD 20,206 million in 2020, and it is expected to reach approximately USD 32,603 million by 2026, with an anticipated CAGR of 8.3% during the forecast period, 2021-2026.
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 other factors. 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 was a significant decline in breast cancer diagnoses (by as much as 51.8%) 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, and advancements in cancer biology and 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 is expected to accelerate the market growth during the forecast period. For instance, in November 2020, researchers from the University of Sussex identified that lemur tyrosine kinase 3 (LMTK3) plays a crucial role in cell proliferation in breast cancer. Further, they are planning to advance the research toward 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.
Scope of the Report
Breast cancer therapy describes the treatment of cancer with chemotherapy, targeted therapy, hormonal therapy, or others. These therapies block the growth and proliferation of cancer by interfering with specific molecules, such as DNA or proteins, which are involved in the growth or expansion of cancerous cells. The breast cancer therapy market is segmented by therapy (radiation therapy, targeted therapy (Herceptin, Tykerb (Lapatinib), Afinitor, and other targeted therapies), hormonal therapy (selective estrogen - receptor modulators, aromatase inhibitors, and other hormonal therapies), and chemotherapy (taxanes, anthracyclines, anti-metabolites, alkylating agents, and epothilones)) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). The report offers the value (in USD million) for the above segments.
Key Market Trends
Chemotherapy is Expected to Witness a High CAGR during the Forecast Period
As breast cancer patients are at higher risk of acquiring the infection, many organizations took definite measures for the management of these diseases. According to a research article by Dafina Petrova et al., published in Medicina Clínica 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 drive 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 received approval by the European Commission. It is an adjuvant therapy that included Herceptin and taxane-based chemotherapy.
In addition, in November 2020, Merck Co. & Inc. received the 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 the Centers for Disease Control and Prevention in November 2020, nearly 650,000 cancer patients (including breast cancer) receive chemotherapy every year. Thus, the growing number of patients receiving chemotherapy and the development of new products are expected to significantly contribute to the market growth.
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North America Dominates the Market and is Expected to do the 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 that showed that breast cancer drugs were effective in the treatment of COVID-19. For instance, in September 2020, leronlimab, designed by CytoDyn Inc., received the Emergency Investigational New Drug status for the mild to 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 were diagnosed among women. In addition, 48,530 cases of in situ breast carcinoma were 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 was USD 721 million for 2018, USD 709 million for 2019, and USD 768 for 2020 across all NIH institutes in the country. The rising investments in research and development activities are expected to support the breast cancer therapy market’s growth in this country.
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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. Some of the major players of the market are Novartis AG, Pfizer Inc., F. Hoffmann-La Roche, Eisai Co. Ltd, and Merck & Co. Inc., among others.
In December 2020, MacroGenics Inc. received the United States Food and Drug Administration approval for Margenza in combination with chemotherapy in the treatment of advanced breast cancer patients.
In April 2020, the United States Food and Drug Administration, under Project Orbis, approved Tukysa (tucatinib) for the treatment of HER2-positive breast cancer patients. The drug is approved in combination with chemotherapy.
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 in R&D
4.2.3 Advancements in Cancer Biology and 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 Forces 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 By Therapy
5.1.1 Radiation Therapy
5.1.2 Targeted Therapy
184.108.40.206 Tykerb (Lapatinib)
220.127.116.11 Other Targeted Therapies
5.1.3 Hormonal Therapy
18.104.22.168 Selective Estrogen - Receptor Modulators
22.214.171.124 Aromatase Inhibitors
126.96.36.199 Other Hormonal Therapies
188.8.131.52 Alkylating Agents
5.2.1 North America
184.108.40.206 United States (By Therapy)
220.127.116.11 Canada (By Therapy)
18.104.22.168 Mexico (By Therapy)
22.214.171.124 Germany (By Therapy)
126.96.36.199 United Kingdom (By Therapy)
188.8.131.52 France (By Therapy)
184.108.40.206 Italy (By Therapy)
220.127.116.11 Spain (By Therapy)
18.104.22.168 Rest of Europe (By Therapy)
22.214.171.124 China (By Therapy)
126.96.36.199 Japan (By Therapy)
188.8.131.52 India (By Therapy)
184.108.40.206 Australia (By Therapy)
220.127.116.11 South Korea (By Therapy)
18.104.22.168 Rest of Asia-Pacific (By Therapy)
5.2.4 Middle-East and Africa
22.214.171.124 GCC (By Therapy)
126.96.36.199 South Africa (By Therapy)
188.8.131.52 Rest of Middle-East and Africa (By Therapy)
5.2.5 South America
184.108.40.206 Brazil (By Therapy)
220.127.116.11 Argentina (By Therapy)
18.104.22.168 Rest of South America (By Therapy)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Bristol-Myers Squibb
6.1.3 Eisai Co. Ltd
6.1.4 Eli Lilly and Company
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
6.1.15 Myan Laboratories
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Breast Cancer Therapy Market market is studied from 2018 - 2026.
What is the growth rate of Global Breast Cancer Therapy Market?
The Global Breast Cancer Therapy Market is growing at a CAGR of 8.3% over the next 5 years.
Which region has highest growth rate in Global Breast Cancer Therapy Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Breast Cancer Therapy Market?
North America holds highest share in 2020.
Who are the key players in Global Breast Cancer Therapy Market?
- Novartis AG
- Pfizer Inc.
- Merck Co & Inc.
- Eli Lily & Co.
- Fresenius Kabi
Are the major companies operating in Global Breast Cancer Therapy Market.