Global breast cancer treatment market forecast to hit $17.2 billion by 2021
- The global breast cancer treatment market is expected to reach $17.2 billion by 2021, according to research conducted by GBI research. This would mark a 65% increase compared to 2014, when the global market was worth $10.4 billion.
- The researchers attribute the tremendous growth to increased prevalence of breast cancer in an aging population, lifestyle factors, and increasing survival rates.
- The pipeline for breast cancer is filled with 743 candidates. However, the most promising targeted therapy candidates are still in early-stage development. Overall, only 6% of all of the breast cancer treatments in development are in late-stages.
Many factors contribute to the rapid forecasted growth of the breast cancer treatment market over the next seven years. Along with epidemiological factors, the impact of therapeutic regimens involving multiple combination therapies will help drive growth.
While there will be significant patent expiry over this time span, including heavy-hitters like Genentech's Herceptin, combination protocols will drive costs up. For example, the combination of Herceptin with Perjeta (also marketed by Genentech) will maintain patent protection throughout the forecast period. Higher overall costs will be neutralized somewhat, however, by generics and biosimilars.
Overall, the breast cancer treatment market is primed for long-term growth. Drugs in early-stage development will start to move through the pipeline and into the market, further boosting the market outlook.
- European Pharmaceutical Review Breast cancer treatment market to reach $17.2b by 2021, says GBI Research