The global breast cancer drug market size is expected to be valued at USD 10,733.1 million in 2023. The increasing prevalence of the disease, along with evolving novel therapies, are some of the key factors likely to drive the market.
Early detection of breast cancer is key to the effective management of the disease. The overall demand for breast cancer drugs is projected to grow at a CAGR of 1.1% between 2023 and 2033, totaling around 12,012.1 million by 2033.
| Data Points | Key Statistics |
|---|---|
| Breast Cancer Drug Market Value 2023 | USD 10,733.1 million |
| Breast Cancer Drug Market Projected Value (2033) | USD 12,012.1 million |
| Breast Cancer Drug Market CAGR (2023 to 2033) | 1.1% |
Breast cancer is the most common cancer in women worldwide. From the recent reports on cancer, 1.7 million breast cancer cases have been recorded in a year. Women in developed countries such as the USA, United Kingdom, and Australia have a higher risk than those in developing countries.
Many factors are responsible for developing breast cancer, including lifestyle, age, heredity, and genetic mutations (abnormal changes). Scientists are working on finding how gene variations are affecting breast cancer and studying new methods for imaging methods to evaluate abnormalities at early stages.
Newer drug valuation is expected to be upward as it is difficult to treat advanced breast cancers. WHO has a global action plan on non-communicable diseases endorsed by many countries, which is a part to reduce the growing cases and address women's cancer.
Over the past few decades, recent advancements and new drug developments have fuelled the breast cancer drug market. In Oct 2021, the FDA approved a new drug called abemaciclib - Verzenio- for one type of breast cancer.
This drug is approved for patients with HR+, HER2-early breast cancer, which makes up 70% of all breast cancers. The drug was already approved for advanced or metastatic breast cancer.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global demand for Breast Cancer drugs is projected to increase at a CAGR of 1.1% during the forecast period between 2023 and 2033, reaching a total of USD 12,012.1 million in 2033, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 1.3%.
As per a recent analysis by the American Cancer Society, in the USA, 266,120 new cases were diagnosed in women in 2018. Furthermore, aging is considered one of the greatest risk factors.
According to Cancer Treatment Centers of America, women above 60 are more likely to be diagnosed, and only about 10% to 15% of cases occur in women younger than 45. The rising occurrence of cancer cases has burgeoned the demand for breast cancer drugs in recent years.
Over the coming years, the soaring emphasis on the development of more effective treatment procedures and advanced drugs is projected to foster the breast cancer drug market.
The breast cancer drug market is scaling up, and the research towards improved chemotherapy drugs and targeted therapies are the major concerns of all medical centers worldwide.
According to International Agency for Research on Cancer (IARC), published by the World Health Organization (WHO) in 2021, breast cancer ranked as the fifth leading cause of death in women, accounting for 627,000 deaths every year.
Several governments and non-profit organizations are working incessantly and organizing programs to increase awareness and provide financial aid to patients diagnosed with breast cancer.
For instance, the sister study is taken by the National Institute of Environmental Health Sciences to help women with early diagnosis by considering all the possible factors that affect breast cancer.
New generation treatments and bio-similar versions, Physical inactivity, environmental factors, lifestyle, and hormonal changes during aging pump in the breast cancer drug market.
Principal Consultant
According to the recently published report by Future Market Insights, the breast cancer drug market is estimated to progress in the future. Still, the stringent rules and regulations, prolonged therapies degrading the health, shortage of accessible medical attention, and healthcare literacy are some aspects that may restrain the market expansion throughout the projection period.
Despite the positive outlook, side effects associated with breast cancer drugs and their expensive nature, may impede the remuneration scope of the industry during the analysis timeframe.
Regarding geographic divisions, North America is expected to account for a 52.1% share of the breast cancer drug market in 2023. According to Future Market Insights analysis, the region is estimated to grow significantly over the forecast period.
This market growth is attributed to the increasing number of cases of breast cancer and the lifestyle followed by women. The United States and Canada are the prominent shareholders in the regional revenue generation, backed by their robust healthcare infrastructure and high investments in clinical trials.
Supportive reimbursement policies are likely to positively impact the market's growth trajectory in the forthcoming years. Moreover, to minimize the pervasiveness of the disease, USA President Joe Biden, in 2022, relaunched a program dubbed 'Moonshot' to accelerate cancer research, which was first introduced in 2017.
The program raised funding of USD 1.8 million in the last seven years and aims to reduce cancer fatality rates by a staggering 50% over the next 25 years.
Innovative and progressive treatment procedures like cancer vaccinations are currently being researched in congruence with chemotherapy and immunotherapy, as it has been detected that cancer vaccinations have a greater success ratio in killing tumor cells. Some vaccinations may be customizable, while others cover a broader spectrum.
Based on Future Market Insight's recent analysis, Europe is expected to account for nearly 26.7% of the breast cancer drug market in 2023. European nations like France, Germany, and Italy are anticipated to hold vital opportunities and generate the highest revenue share in the breast cancer drugs market.
There is a robust plan as Patient Support Programs, and campaigns are organized in various countries to spread awareness about breast cancer and early diagnosis and treatment.
AstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab deruxtecan) has been approved in the European Union (EU) as a monotherapy for the treatment of adult patients with unresectable or metastatic HER2-positive breast cancer who have received one or more prior anti-HER2-based regimens.
Enhertu is a specifically engineered HER2-directed antibody-drug conjugate (ADC) being jointly developed and commercialized by AstraZeneca and Daiichi Sankyo.
Approvals of new treatment procedures and soaring investments in Research and Development by prominent players have fuelled the revenue generation of the European market.
According to Future Market Insights, Asia Pacific is one of the most significant regions based on the Breast Cancer Drug market development and is estimated to witness impressive growth throughout the forecast period. Rapid growth in global demand for drugs has compelled prominent drug manufacturers to set up facilities for manufacturing Research and Development in this region.
Initiatives commenced by several organizations to create awareness, educate people, and raise funds for the disease are projected to propel regional growth. For instance, Wacoal Corp. runs the Pink Ribbon Fitting Campaign and donates funds to the Japan Society of Breast Health, J. POSH, and Japan Cancer Society (Smile Fund) on behalf of customers.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The global breast cancer drug market is bifurcated into the drug class, distribution channels, and regions. Breast cancer is the most commonly diagnosed cancer in women worldwide and also is one of the leading causes of death. Based on the disease indication, HER2-positive treatment is likely to remain the key revenue generator over the forecast period.
The increasing occurrence of HER2-positive breast cancer is the foremost aspect attributed to the growth of this segment. According to a recently published article by F. Hoffman La Roche Ltd, it was assessed that nearly one in five women diagnosed with breast tumors would have HER2-positive cancer.
Furthermore, rapidly growing demand from emerging markets such as the Asia Pacific and Latin America is expected to further drive growth during the forecast period.
CDK 4/6 inhibitor is anticipated to be the fastest-growing segment throughout the forecast period. These drugs are likely to improve the survival rate in patients with metastatic breast cancer. Moreover, the commercialization of novel drugs, such as Kisqali by Novartis AG and Verzenio by Eli Lilly and Company, is expected to propel the segment's growth in the forthcoming years.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 1.1% from 2023 to 2033 |
| Market Value in 2023 | USD 10,733.1 million |
| Market Value in 2033 | USD 12,012.1 million |
| Base Year for Estimation | 2021 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Drug Class, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States of America; Canada; Brazil; Mexico; Germany; United Kingdom; France; Spain; Italy; China; Japan; South Korea; GCC Countries; South Africa; Israel |
| Key Companies Profiled | F. Hoffmann-La Roche Ltd; Pfizer Inc.; AstraZeneca; Novartis International AG; Achieve Life Science; Bristol-Myers Squibb; Eisai Co. Ltd; AbbVie; Eli Lilly & Company; Celgene Corporation; Merck & Co.; Amgen Plc.; Celldex Therapeutics; Biocon Genzyme Corporation |
Worldwide demand in 2023 can accrue almost USD 10,733.1 million.
The global sales of such drugs is forecasted to generate USD 12,012.1 million by 2033.
The regional market is forecasted to account for 52.1% of the global market in 2023.
Drugs for HER2-positive treatment is the leading segment.
F. Hoffmann, Pfizer, and AstraZeneca are the top manufacturers.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. SERM (Selective Estrogen-Receptor Modulators)-based 5.2. Aromatase Inhibitors-based 5.3. Biologic Response Modifiers-based 5.4. Other Hormonal Therapies-based 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. Hospital Pharmacies 6.2. Pharmacies 6.3. Drug Stores 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. F. Hoffmann-La Roche Ltd 17.2. Pfizer Inc. 17.3. AstraZeneca 17.4. Novartis International AG 17.5. Achieve Life Science 17.6. Bristol-Myers Squibb 17.7. Eisai Co. Ltd 17.8. AbbVie 17.9. Eli Lilly & Company 17.10. Celgene Corporation 17.11. Merck & Co. 17.12. Amgen Plc. 17.13. Celldex Therapeutics 17.14. Biocon Genzyme Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Healthcare Insights
View Reports
Breast Cancer Drug Market
