Albany, NY -- (SBWIRE) -- 11/24/2017 -- As per the projections of the TMR report, the demand in the global HER2 antibodies market will multiply at an impressive CAGR of 8.6% during the forecast period of 2017 to 2025, achieving an estimated global valuation of US$21,669.1 mn by the end of 2025, substantially up from its evaluated worth of US$10,087.8 mn in 2016. In the near future, new drug development is expected to be based on adjuvant setting, which increases treatment duration in comparison to the neoadjuvant setting. Along the same lines, the launch of Perjeta is anticipated to change the dynamics of the competitive landscape of the global HER2 antibodies market. In addition to that, several major players are expected to expand their geographical reach to meet vast unmet demands as well as increment their market shares.
As opposed to other type of treatment drugs segments, viz. Ado-trastuzumab Emtansine, Lapatinib, Pertuzumab, and Everolimus, Trastuzumab dominated the HER2 antibodies market in 2016, followed by Everolimus, whereas Pertuzumab is projected for most promising future. Geographically, North America served the maximum demand for HER2 antibodies in 2016, and while Europe was the second most lucrative region, vastly populated Asia Pacific is quickly luring the stockholders of the global HER2 antibodies market.
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According to the World Health Organization (WHO), there are more than 200 types of cancers, causing 14.1 million new cases each year. Noticing the prevalence of this chronic diseases, a number of pharmaceutical companies have dived in and are investing for research and development of therapeutic drugs. Breast cancer is second most prevalent type of cancer, driven by a number of factors such as obesity, lack of physical exercise, genetic factors, old age, alcohol consumption, early-age menstruation, and pregnancy at late age. A July 2015 article by MediLexicon International Ltd. estimates that breast cancer constitutes 16% of all cancers among females, accounting for 18.2% cancer-related deaths across the world. Another study, by the American Cancer Society, suggests that in 2017, 252,710 women were diagnosed with breast cancer alone in the U.S., with one in five women that were diagnosed were found to be suffering from HER2 positive breast cancer.
High incidence rate of breast cancer, escalated number of research and development activities, regulatory support from several cancer associations across the globe, strong pipeline of promising drugs, recent advancements in immunotherapy, and changed lifestyle with incremented intake of alcohol and smoking are some of the key factors augmenting the demand in the global HER2 antibodies market.
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High cost of diagnostic and therapeutic of HER2 positive breast cancer, the lack of awareness regarding breast cancer in the rural areas of a number of emerging economies, and moderate improvements in healthcare infrastructure in undeveloped regions are some of the primary restraints obstructing the global HER2 antibodies market from attaining its true potential.
A recent market intelligence study by Transparency Market Research (TMR) suggests that the global HER2 antibodies market offers lucrative opportunities as the awareness regarding breast cancer and personalized medicines spreads. Consequently, the competitive landscape of the HER2 antibodies market is already quite intense with the presence of a large number of players, both global and regional. The report identifies Pfizer, Inc., Novartis AG, Genentech Inc. by F. Hoffmann-La Roche Ltd., Abnova Corporation, Celltrion, Inc., InvivoGen, Bio-Techne by Novus Biologicals, LLC, and Biocon Ltd. as some of the prominent companies currently operating in the global HER2 antibodies market.
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