Transparency Market Research Report Added "Breast Cancer Therapeutics Market" to its database.
Albany, NY -- (SBWIRE) -- 02/22/2016 -- Breast cancer, a malignant neoplasm, is the second most common cause of cancer-related deaths worldwide, bolstering the demand for effective therapeutics. According to World Cancer Research Fund International, globally, breast cancer represents 12% of all new cancer cases and 25% of all cancer cases in women, making the ailment exceedingly prevalent. The number of women diagnosed with breast cancer has exponentially increased in the past few years. However, due to the innovation of novel therapeutics and availability of better treatment options, the mortality rate has considerably declined.
Breast cancer treatment has substantially evolved in the last few years, particularly with the growing use of targeted therapy. The product landscape of the global breast cancer therapeutics market consists of wide-ranging treatment options such as chemotherapies, hormonal therapies, targeted therapies, and combination therapies.
In its latest report, Transparency Market Research pegs the overall value of the global breast cancer therapeutics market at US$7.1 bn in 2014. By the end of 2023, the market is expected to reach US$16.2 bn. If these figures hold true, the global breast cancer therapeutics market will rise at a positive CAGR of 8.3% between 2015 and 2023.
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Global Breast Cancer Therapeutics Market Segmentation, By Drug Class
HER2 inhibitors to Exhibit Fastest Growth
By drug class, the global breast cancer therapeutics market can be segmented into HER2 inhibitors, anti-metabolites, hormone receptors, mitotic inhibitors, and aromatase inhibitors hormones. Of these, HER2 inhibitors emerged as the largest market segment in 2014. HER2 receptor type cancer is by far the most invasive type of breast cancer. It is not difficult to detect and treat this type of cancer due to the latest advances in targeted therapies and companion testing. Drugs used in the treatment of this cancer type, therefore, lead the market. The rising demand for Herceptin, trailed by Perjeta and Kadcyla, has also considerably aided the expansion of the global breast cancer therapeutics market.
The HER2 inhibitors segment stood at US$4.9 bn in 2014. Rising at a CAGR of 6.2%, the segment is expected to reach US$9.2 bn by 2023.
Aromatase Inhibitors Emerge as Second Largest Segment
Aromatase inhibitors have emerged as the second largest segment of the breast cancer therapeutics market, in terms of revenue. Ibrance is anticipated to dominate the segment owing to the rise in progression-free survival among post-menopausal patients of breast cancer.
Hormone Receptors Emerged as Third Largest Market Segment
Hormone receptors have emerged as the third largest segment of the global breast cancer therapeutics market with the success of Faslodex in positive metastatic breast cancer treatment. While the future of the market, in general, looks promising, the impending rise of biosilimars can potentially restrain it to an extent. However, major biosimilars are less likely to be introduced before 2020, and thereby will have little impact on the overall market for breast cancer therapeutics.
Among the latest drugs launched in the market, Ibrance is projected to exhibit the fastest growth owing to the efficacy it demonstrated in PALOMA-1 trial. The global breast cancer therapeutics market will largely be driven by the success of targeted therapies and swift approvals under the fast-tracked approval programs launched by the U.S. Food and Drug Administration.
Mr. Sudip S
Transparency Market Research
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