The global breast cancer drug market is set for steady growth over the next decade. Valued at USD 10,733.1 million in 2023, the market is projected to reach approximately USD 12,012.1 million by 2033, with a compound annual growth rate (CAGR) of 1.1% during the forecast period.
The increasing prevalence of breast cancer and the continuous evolution of novel therapies are key factors driving this market expansion. Early detection remains crucial for the effective management and treatment of breast cancer, further bolstering the demand for advanced drug therapies.
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One of the most prevalent malignancies affecting women globally, breast cancer has a significant effect on public health. Improving patient outcomes and lowering the disease’s mortality rates depend on the creation of novel treatments as well as improvements in early detection techniques.
Breast cancer is caused by a multitude of factors, such as genetic mutations (abnormal variations), age, inheritance, lifestyle, and heredity. Researchers are looking into novel imaging modalities to assess anomalies during the early stages of the disease and trying to determine the impact of genetic changes on breast cancer.
Key Takeaways:
- The global breast cancer drug market is projected to reach US$12,012.1 million by 2033, reflecting a rise from US$10,733.1 million in 2023.
- This growth is expected at a moderate compound annual growth rate (CAGR) of 1.1% throughout the forecast period.
- The rising prevalence of breast cancer and the development of novel therapies are key drivers for market expansion.
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Competitive Landscape:
- In August 2021, Pfizer Inc. and Trillium Therapeutics Inc. entered into a definitive agreement under which Pfizer will acquire Trillium, a clinical-stage immuno-oncology company developing innovative therapies for the treatment of cancer. Under the terms of the agreement, Pfizer will acquire all outstanding shares of Trillium not already owned by Pfizer for an implied equity value of $2.26 billion, or $18.50 per share, in cash.
- In June 2022, Novartis announced new overall survival (OS) and quality of life (QoL) analyses which evaluated Kisqali® (ribociclib) plus endocrine therapy for patients with hormone receptor-positive/human epidermal growth factor receptor-negative (HR+/HER2-) advanced or metastatic breast cancer.
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
Key Segments Covered in the Breast Cancer Drug Industry Analysis:
By Drug Class:
- SERM (Selective Estrogen-Receptor Modulators)-based
- Aromatase Inhibitors-based
- Biologic Response Modifiers-based
- Other Hormonal Therapies-based
By Distribution Channel:
- Hospital Pharmacies
- Pharmacies
- Drug Stores
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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