Albany, NY -- (SBWIRE) -- 12/09/2015 -- The global breast cancer therapeutics market stood at US$7.1 bn in 2014 and is expected to reach US$16.2 bn by 2023. The global breast cancer therapeutics market is expected to expand at an 8.30% CAGR during the period between 2015 and 2023, propelled by increased incidence of HER2 receptor type cancer.

HER2 Inhibitors Segment to Reach US$9.2 bn by 2023, to Lead Global Breast Cancer Therapeutics Market

HER2 receptor type cancer is considered to be one of the most invasive types of breast cancer. HER2 can be detected and treated easily due to advanced targeted therapies and companion testing techniques. Medicines used to treat HER2 receptor type cancer are biological in nature and have dominated the global market in the recent past. Drugs against breast cancer can be segmented into mitotic inhibitors, HER2 inhibitors, anti-metabolites, hormone receptors, and aromatase inhibitors hormones. The HER2 inhibitors segment stood at US$4.9 bn in 2014 and is expected to reach US$9.2 bn by 2023 at a 6.20% CAGR.

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In terms of revenue, the aromatase inhibitors segment is expected to be the second largest segment, after HER2 inhibitors, during the period from 2015 to 2023. The global breast cancer therapeutics market is expected to expand at a rapid pace due to the success of all targeted therapies used in treating triple negative breast cancer.

The global breast cancer therapeutics market is segmented on the basis of drug class and geography. Based on geography, the global breast cancer therapeutics market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2014, the global breast cancer therapeutics market was led by North America.

The Asia Pacific breast cancer therapeutics market is expected to dominate the global breast cancer therapeutics market in the years to come. Rising incidence of breast cancer, growing awareness about breast cancer, and initiatives taken by several governments to alleviate breast cancer as a national health program are the major factors expected to drive the Asia Pacific region during the forecast period. The global breast cancer therapeutics market is expected to witness strong demand for combination therapies in order to increase the efficiency of treatments.

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With 65% of Market Revenue, Genentech Dominates Global Breast Cancer Therapeutics Market

Hoffmann-La Roche, Bristol-Myers Squibb, Eisai Co., Ltd., Eli Lilly and Company, GlaxoSmithKline plc, Puma Biotechnology, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., AstraZeneca plc, and Novartis AG are some of the leading players operating in the global breast cancer therapeutics market. In terms of revenue, in 2014, Genentech, a Roche company, dominated the global breast cancer therapeutics market, accounting for 65% of the total revenue.

Intense competition, absence of social health insurance, side effects of breast cancer therapeutics, presence of substitute branded drugs, and emergence of new medication options are some of the factors expected to hamper the growth of the global breast cancer therapeutics market during the forecast period. However, potential developments of domestic pharmaceutical companies and combination drug therapies are two of the major factors expected to drive the global breast cancer therapeutics market by 2023.

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