Breast Cancer Drugs Global Market Report 2023
Microtubules, that pull the chromosomes apart as a cell divides, are disrupted by these medications.The different types include metastatic breast cancer, triple-negative breast cancer, and others (ductal carcinoma in situ, invasive ductal carcinoma, inflammatory breast cancer, breast cancer during pregnancy, and others).
NEW YORK, Feb. 16, 2023 /PRNewswire/ -- Major players in the breast cancer drugs market are F.Hoffmann-La Roche Ltd, Novartis AG, AstraZeneca, Eli Lilly and Company, Celgene Corporation, Biocon, Merck & Co.
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Inc., Genzyme Corporation, Janssen Global services LLC and MacroGenics Inc.
The global breast cancer drugs market will grow from $31.50 billion in 2022 to $33.96 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The breast cancer drugs market is expected to grow to $44.11 billion in 2027 at a CAGR of 6.8%.
The breast cancer drugs market consists of sales of Abemaciclib, Alpelisib, Anastrozole, and Aredia.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Breast cancer drugs refer to anti-cancer medications that can be taken orally or intravenously (injected into a vein).The majority of the body's cancer cells are reached by the medications via the bloodstream.
Chemotherapy may occasionally be administered directly into this region if cancer has spread to the spinal fluid, which surrounds and protects the brain and spinal cord (called intrathecal chemotherapy).
North America is the largest region in the breast cancer drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the breast cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main drug types in breast cancer drugs are HER2 inhibitors, mitotic inhibitors, anti-metabolites, aromatase inhibitors, and hormonal receptors.A mitotic inhibitor is a medication that prevents cell division, or mitosis.
Microtubules, that pull the chromosomes apart as a cell divides, are disrupted by these medications.The different types include metastatic breast cancer, triple-negative breast cancer, and others (ductal carcinoma in situ, invasive ductal carcinoma, inflammatory breast cancer, breast cancer during pregnancy, and others).
The several sectors include hospitals, clinics, and others and are distributed through various channels such as ambulatory surgical centers, hospitals, clinics, retail pharmacies, and online channels.
The increasing prevalence of breast cancer is driving the breast cancer drug market. Breast cancer is the most common type of cancer among women and affects around 2.1 million women each year. According to the World Health Organization, breast cancer affected 2.3 million women globally in 2020, with 685 000 fatalities. The factors responsible for breast cancer include the heredity, age, and lifestyle of a person, and are more common in developed countries. As the number of people diagnosed with breast cancer rises, the demand for breast cancer drugs increases, thereby driving the market growth.
Adverse side effects caused by the use of breast cancer drugs are acting as a restraint on the breast cancer drugs market.Breast cancer drugs can result in long-term or short-term side effects including headaches, dental issues, osteoporosis, heart problems, cataracts, blood clots, infertility, and others.
As a result, patients depend on alternate or complementary treatments to deal with the side effects, thereby increasing overall treatment costs. Also, the long-lasting nature of some of the side effects discourages the use of breast cancer drugs, affecting the market growth.
Manufacturers of breast cancer drugs are increasingly collaborating or partnering with other companies to share technology, resources, and product knowledge and expand the business. For instance, AstraZeneca entered into a partnership deal worth $6.9 billion for the development of a breast cancer drug. According to the deal, the companies will jointly develop the drug trastuzumabderuxtecan and will share development and commercialization costs for the drug worldwide. Novartis collaborated with IBM Watson Health for the development of a solution that can determine drug combinations and sequences for the best patient outcomes.
Manufacturers of breast cancer drugs are governed by various regulatory bodies such as the Food and Drug Administration in the USA and the European Medicines Agency in the European Union.The European medicines agency (EMA) regulates the market for breast cancer drugs by granting licenses to the drugs that have been proven to be safe and clinically effective.
The drug is evaluated to understand its benefits and risks and then tested for any post-usage effects.The drug can be commercially sold in the European Union upon approval from the EMA.
The EMA can also grant a conditional marketing authorization indicating approval but can withdraw it if found unsafe or ineffective.
The countries covered in the breast cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The breast cancer drugs market research report is one of a series of new reports that provides breast cancer drugs market statistics, including breast cancer drugs industry global market size, regional shares, competitors with a breast cancer drugs market share, detailed breast cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the breast cancer drugs industry. This breast cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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