Breast Cancer Drugs Market

Market Overview

The global breast cancer drugs market size was valued at USD 12.12 billion in 2022. It is estimated to reach USD 33.11 billion by 2031, growing at a CAGR of 12.6% over the forecast period (2023–2031). The drug market is projected to grow as a result of the rising prevalence of breast cancer.

Breast cancer is the most common disease in the community and is primarily found in women who are experiencing rising rates of illness. The breast tissues are where breast cancer primarily develops. Breast lumps, changes in the breast's size and shape, fluid leaking from the nipple, and irritable, scaly, red skin areas are all signs of breast cancer. This disorder progressively worsens the disease's symptoms, which include breathing difficulties, lymph node swelling, bone discomfort, and many more.

Cancer treatment options include medications that impede tumor growth, inhibit the proliferation of cancer cells, and stop the disease from metastasizing (spreading to other organs). Moreover, there exist several supplementary therapeutic alternatives, such as radiation therapy, chemotherapy, and hormone therapy. Several factors influence the choice of breast cancer treatment(s), including the patient's specifics, the kind and stage of the disease, and the existence of certain molecular markers.

Market Dynamics

Global Breast Cancer Drugs Market Drivers

Rising Incidence Rate of Breast Cancer Worldwide

The drug market is expected to expand due to the increasing incidence of breast cancer. This cancer is one of the most common cancers in women and the second most prevalent cancer among others. According to the American Cancer Society, in 2020, 279,100 new breast cancer cases were estimated to be diagnosed, and around 42,690 deaths were expected to occur in the U.S. In addition, Breastcancer.org reported that as of January 2020, more than 3.5 million women had breast cancer in the U.S.

Furthermore, aging is regarded as one of the greatest risk factors for breast cancer. The immune system deteriorates with age, making people more vulnerable to various illnesses. Hence, the senior population requires better healthcare services, especially for the treatment/management of chronic diseases. According to Cancer Treatment Centers of America, women above 60 are more likely to be diagnosed with breast cancer, and only about 10% to 15% of breast cancer cases occur in women younger than 45. Such factors drive breast cancer drugs market growth.

Early Detection and Increase in Awareness of Breast Cancer

Early detection of breast cancer is a way to effectively manage the disease. This can improve quality of life, provide several treatment options, and increase survival. Breast cancer rates have dropped by 30% due to routine screening and early identification through mammography, according to a 2018 Research Fast Facts article. Moreover, research conducted to develop tests to detect breast cancer as soon as possible is expected to boost market growth. For instance, in November 2019, researchers at the University of Nottingham conducted a study to develop a blood test that detects breast cancer five years before its occurrence. This study used screening technology to rapidly screen blood samples to examine the presence of antibodies against 40 Tumor-associated Antigens (TAAs).

Additionally, increasing awareness about breast cancer is estimated to market growth. For instance, October is the month of Breast Cancer Awareness in countries worldwide. Organizations like Breast Cancer Now, Breast Cancer Care, National Breast Cancer Foundation, Inc., and the National Health Portal of India strive to increase awareness, raise funds for research, and educate people about the benefits of early disease detection. Moreover, these organizations conduct free diagnostic tests for breast cancer, which is expected to fuel market growth. For instance, National Breast Cancer Foundation, Inc. conducts the National Mammography Program to provide free mammograms and other diagnostic services for breast cancer. Such instances boost the breast cancer drugs market growth.

Global Breast Cancer Drugs Market Restraint

Patent Expiration

The loss of exclusivity of one or more important products is expected to negatively impact a company's performance, forcing companies to look for new revenue streams. Low-priced generic drugs consume up to 90% of sales of branded molecules due to the loss of patent protection of branded drugs. Moreover, a shift in government focus to improving access and a growing number of companies being subjected to price scrutiny are some factors expected to further reduce drug prices.

Furthermore, the Herceptin (trastuzumab) patents expired in 2014 in Europe and in 2019 in the U.S. In March 2018, Merck Sharp & Dohme Corp., a Merck & Co., Inc. subsidiary, launched a trastuzumab biosimilar—Ontruzant—under a commercialization agreement with Samsung Bioepis. Moreover, in August 2018, Pfizer, Inc. received European approval for Trazimera—a biosimilar of trastuzumab. All such instances impede market growth.

Global Breast Cancer Drugs Market Opportunities:

Increasing Preference for Targeted Therapy Approach in Breast Cancer Treatment

Developing new drug delivery systems is the primary concern in chemotherapy, which does not target specific sites but is still considered one of the most effective and widely used treatments for all types of breast cancers. Adverse effects associated with chemotherapy, such as collateral damage to healthy cells, are a significant concern. Therefore, developing new therapies that can specifically act on carcinoma cells without damaging healthy tissues is imperative.

Target-specific therapies have been developed and designed as carriers to deliver therapeutic compounds to the target site thanks to developments in drug delivery systems. These carriers include anticancer peptides, nanoparticle-based drugs, and molecular-recognition-element-modified anticancer agents. Herceptin, Perjeta, Kadcyla, Afinitor, Tykerb, and Ibrance are targeted drugs commonly used to treat breast cancer. Moreover, increasing approval of target-specific drugs is expected to boost market growth. For instance, in December 2019, AstraZeneca received U.S. FDA approval for Enhertu (trastuzumab deruxtecan) for patients with HER2-positive metastatic breast cancer. The factors mentioned above provide lucrative potential for market growth.

Regional Analysis

Region-wise, the global breast cancer drugs market share is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant market shareholder and is estimated to exhibit a CAGR of 12.10% during the forecast period. Increasing awareness among people regarding breast cancer and highly established R&D infrastructure are among the key factors contributing to market growth. The local presence of key players such as Pfizer, Inc.; Merck & Co., Inc.; Celgene Corporation; and AbbVie, Inc. in this region is expected to positively impact the market growth. North America held a major market share, particularly the U.S., owing to increasing awareness about the benefits of early detection. This has driven U.S.-based firms to make considerable investments in developing targeted therapeutics. Moreover, the local presence of regulatory organizations in North American countries is expected to foster growth over the forecast period. This is primarily due to the critical role these organizations play in promoting awareness of the benefits of early diagnosis in the treatment of disease.

Europe is expected to exhibit a CAGR of 11.8% during the forecast period. In Europe, the UK is predicted to develop significantly after Germany. In the UK, all medical needs are completely covered by the NHS, and the National Institute of Health Research (NIHR) has provided an integrated health research system. Government programs guarantee the creation of high-quality, economical, and standardized biomarkers for cancer drug discovery. One such program is Cancer Research UK's Stratified Medicine Program, which comprises numerous anticancer development facilities. Moreover, as per the estimates of Breast Cancer Care published in 2019, approximately 370 men and 55,000 women were diagnosed with breast cancer in the UK.

Furthermore, it was published that 8 out of 10 cases were diagnosed in women aged 50 years and above. An increase in the number of initiatives being undertaken by private and public organizations to create awareness and raise funds is anticipated to propel the market. For instance, the Pink Ribbon Foundation organizes "Shoot 4 Pink," a national fundraising campaign to support the cause of breast cancer in the UK. Due to rising disposable income, unmet clinical needs, and rising public awareness of the advantages of early cancer diagnosis, particularly in developing countries like China and India,

Asia-Pacific is expected to rise at a considerable CAGR throughout the projected period. Rapid growth in the global demand for drugs has encouraged major market players to set up facilities for manufacturing and R&D in this region. Growing initiatives undertaken by various organizations to create awareness, raise funds, and educate people about breast cancer are anticipated to drive regional growth. For instance, Wacoal Corp. supports the Pink Ribbon Fitting Campaign and provides funds to the Japan Society of Breast Health, Japan Cancer Society, and J. POSH on behalf of customers.

Similarly, Wacoal Corp. donated around USD 222,257 (6,930,000 Baht) to hospitals and breast cancer-related research projects in Thailand. The campaign is run in countries such as Japan, Korea, Thailand, Taiwan, Singapore, Hong Kong, Indonesia, Vietnam, China, the Philippines, Malaysia, and India. The population and disposable income of developing nations like China and India are rising. The high incidence of cancer in this region has increased demand for improved therapeutics, government funding for cancer and other research, and higher healthcare expenditure. These factors are expected to propel the regional market over the forecast period.

Latin America includes Mexico, Brazil, and Argentina. Major drivers anticipated to propel the regional market throughout the forecast period include a rise in the incidence of breast cancer and rapid economic development, particularly in Mexico. Despite the fact that there are many unmet patient needs in this field, it is challenging to capitalize on market potential due to inadequate healthcare infrastructure.

On the other hand, it is anticipated that technical developments will fuel market expansion. The market is expected to be driven by increased government spending, the availability of qualified healthcare workers, a growing emphasis on unexplored markets by international pharmaceutical companies, and a rise in patient awareness. Moreover, an increasing number of private-public partnerships to promote research on cancer drug development, along with rising R&D activities and funding for cancer research, is likely to contribute to market growth during the forecast period.

Segmental Analysis

The global breast cancer drugs market is bifurcated by source.

By source, the global breast cancer drugs market is categorized into HER2 Inhibitors, mitotic inhibitors, anti-metabolites, aromatase inhibitors, CDK 4/6 inhibitors, and hormonal receptors. 

The HER2 inhibitors segment dominates the global market and is expected to exhibit a CAGR of 7.1% during the forecast period. The increasing incidence of HER2-positive breast cancer is expected to drive the segment. As per an article published by BioMed Central in 2019, HER2 is overexpressed in 15% to 20% of all breast cancer patients. Moreover, there have been drug development advancements since Herceptin's launch. For instance, in December 2019, the FDA approved Enhertu by Daiichi Sankyo Company Limited for treating metastatic HER2-positive breast cancer. Moreover, in 2019, the FDA approved Novartis AG's Piqray—the first treatment for patients with PIK3CA mutation in HER2-positive advanced breast cancer.

Although the use of HER2 inhibitors has significantly impacted the breast cancer drug market, almost all patients with advanced HER2-positive breast cancer ultimately experience disease progression. This scenario is expected to change over the forecast period due to the promising HER2 therapies in the pipeline. Moreover, combining HER2 inhibitors with other targeted therapies to treat breast cancer is anticipated to impact the market in the future positively.

Mitotic inhibitors are derived from natural substances, and Halaven, Taxotere, and Ixempra are some drugs used for treating metastatic breast cancer. In August 2015, Ixempra was acquired by R-PHARM from Bristol-Myers Squibb. Furthermore, product enhancements are expected to propel the segment growth over the forecast period. For instance, in March 2019, F. Hoffmann-La Roche announced FDA approval of Abraxane in combination with Tecentriq to treat adults with metastatic triple-negative breast cancer. Moreover, Oncology Venture, in April 2019, announced that it obtained an exclusive option to in-license the European rights of R-PHARM U.S., LLC's Ixempra. The company will evaluate the drug with its DRP companion diagnostic platform in the EU clinical trials on patients with metastatic breast cancer.

Recent Developments

• December 2023- An international team of researchers, led by Pfizer in collaboration with Monash University and the Australian-based Cancer Therapeutics Cooperative Research Center, discovered a pre-clinical drug candidate demonstrating anti-tumor activity in Estrogen Receptor (ER) positive breast cancer models.