Breast Cancer Therapeutics Market Size By Product (Hormone Drugs, Chemotherapy Drugs, Targeted Drug Therapy), By Distribution Channel (Hospitals, Ambulatory Surgical Centres, Clinics, e-commerce, Retail Pharmacies), Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, India, Australia, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, UAE, Qatar, Saudi Arabia, Kuwait, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Breast Cancer Therapeutics Market will exceed USD 30,637.7 million by 2025; as per a new research report.
Increase in breast cancer prevalence in the developed regions across the globe will enhance the growth of breast cancer therapeutics market growth in the near future. In 2017, approximately 252,710 new cases of invasive breast cancer are anticipated to be detected in women in the Unites States with over 63,410 non-invasive breast cancer new cases. The growing adoption of western lifestyle in developing nations is an important cause for the increase of breast cancer incidence in these countries.
Presence of favorable insurance and reimbursement policies can drive the breast cancer therapeutics market. Managing the increasing cost of breast cancer therapeutics driven by the surge in both the quantity and price of targeted therapy drugs is challenging, since anticancer drugs can be remunerated under the pharmacy or medical benefit, based on their mode of administration.
High cost of the breast cancer therapeutics will be a major market impeding factor. The treatment cost for breast cancer is higher for patients that are not covered by insurance. According to a study, uninsured cancer patients pay approximately double as much for doctors’ visits and 43 times more for chemotherapy drugs in comparison to what Medicare and private insurance pays.
Targeted drug therapy market held majority market share and was valued around USD 11,559.6 million in the year 2018. Recent technological advancements has resulted in growing demand for effective breast cancer treatment, stimulating rise in R&D investment for developing effective targeted breast cancer therapy. Hence, boosting the industry growth in the upcoming years.
The distribution of breast cancer therapeutics via retail pharmacies is estimated to grow at a CAGR of 9.7% over the projection period. There is a shift from specialty to retail pharmacies due to reimbursement variations and prolonged usage of oral formulations, particularly for targeted drug therapies thereby, boosting business growth.
Germany dominated the Europe breast cancer therapeutics market growth and was valued around USD 1,318.2 million in the year 2018. Increasing healthcare expenditure in Germany accounting for 11.3% of its GDP in 2014 will minimize the cost burden associated with the disease further propelling the market growth over the forecast period.
China breast cancer therapeutics market is estimated to grow at 13.7% over the projection period. The robust healthcare reforms need to be improved for diagnosis and treatment of breast cancer. However, increasing prevalence, and robust economic growth in China will drive breast cancer therapeutics market growth in the near future.
Industry players having a strong foothold include AstraZeneca, Roche Diagnostics, Pfizer, Novartis, Eisai, Eli Lilly, Sanofi, and Celgene. Other notable participants include Breas Medical, MAQUET and Drager, etc. To expand their industry presence, many established firms are entering in sparsely addressed high potential regions. Introduction of devices in emerging economies by these companies enables them to cater to unmet needs and expand revenue sources.
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