The global breast cancer drugs market is experiencing growth due to several factors, such as the rise in the prevalence of breast cancer cases, advancements in diagnostic technologies, and high investments in research and development
PORTLAND, Ore., June 8, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Breast Cancer Drugs Market by Therapy (Chemotherapy, Hormonal Therapy, Targeted Therapy, and Immunotherapy), Age Group (Below 55 Years and Above 55 Years), and Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global breast cancer drugs market was valued at $26.4 billion in 2022 and is estimated to reach $59.3 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.
Download Sample Report- https://www.alliedmarketresearch.com/request-sample/11488
Prime Determinants of Growth
The global breast cancer drugs market is experiencing growth due to several factors, such as the rise in the prevalence of breast cancer cases, advancements in diagnostic technologies, and high investments in research and development. However, adverse effects of medications used for treating breast cancer are hampering the breast cancer drugs market growth. On the contrary, the high growth potential in untapped emerging economies is expected to offer remunerative opportunities for expansion of the breast cancer drugs market during the forecast period.
Report Coverage & Details
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $26.4 Billion |
Market Size in 2032 | $59.3 Billion |
CAGR | 8.4 % |
No. of Pages in Report | 252 |
Segments Covered | Therapy, Age Group, Distribution Channel and Region |
Drivers | Rise in the prevalence of breast cancer cases Advancements in diagnostic technologies High investments in research and development |
Opportunity | High growth potential in untapped emerging economies |
Restraints | Adverse effects associated with the use cancer drugs |
COVID-19 Scenario
- The pandemic has led to disruptions in healthcare systems worldwide, including delays in cancer screenings, diagnosis, and treatment.
- In addition, non-urgent medical procedures and appointments were postponed or canceled to prioritize resources for COVID-19 patients. This had resulted in a burden of breast cancer cases and delayed initiation or adjustments of treatment regimens, impacting the demand for breast cancer drugs.
- However, the breast cancer drugs market has gradually recovered from the disruptions caused by the pandemic. As healthcare systems stabilize and resume normal operations, there is an opportunity for the key players in the market to regain momentum and address the backlog of breast cancer cases that were postponed or delayed.
Procure Complete Report (252 Pages PDF with Insights, Charts, Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/breast-cancer-drugs-market
The targeted therapy segment to maintain its leadership status throughout the forecast period
Based on therapy, the targeted therapy segment held the largest share in 2022, accounting for nearly two-thirds of the global breast cancer drugs market revenue, and is projected to maintain its leadership status throughout the forecast period. Owing to rise in adoption of targeted therapy in breast cancer treatment. On the other hand, hormonal therapy is projected to manifest the highest CAGR of 9.2% during forecast period. Owing to proven efficacy of hormonal therapy in hormone receptor-positive breast cancer cases and wide availability of hormonal drugs for breast cancer treatment.
The above 55 years segment to maintain its dominance during the forecast period
Based on age group, the above 55 years segment held the largest share in 2022, accounting for nearly three-fourths of the global breast cancer drugs market revenue, and is projected to maintain its dominance during the forecast period. However, the same segment would showcase the highest CAGR of 8.6% during forecast period. This is due to rise in number of breast cancer cases diagnosed in this age group.
The drug stores and retail pharmacies segment to maintain its lead position during the forecast period
Based on distribution channel, the drug stores and retail pharmacies segment accounted for the largest share in 2022, holding more than half of the global breast cancer drugs market revenue, and is expected to maintain its lead position during the forecast period. Owing to the widespread availability of retail pharmacies and extensive chain distribution systems.?However, the online providers segment is estimated to register highest CAGR of 9.5% from 2023 to 2032. This is attributed to the increasing user preference for online pharmacies and their popularity
For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/11488
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in 2022, accounting for more than half of the global breast cancer drugs market revenue, and is projected to maintain its dominance by 2032. Owing to the presence of a large patient population suffering from breast cancer, the strong presence of key players, ease of drug availability, well-developed healthcare infrastructure, favorable reimbursement policies in the healthcare system, and a higher number of research, development, and innovation activities. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.2% from 2023 to 2032. This is due to an increase in investments for the development of anti-cancer agents, an increase in the number of breast cancer cases, and a rise in awareness related to available treatment options, thereby driving the growth of the market during the forecast period.
Leading Market Players-
- Novartis AG
- Pfizer Inc.
- AstraZeneca Plc
- Eli Lilly and Company
- Merck and Co., Inc.
- Bristol Myers Squibb Company
- Zydus Lifesciences Limited
- Teva Pharmaceutical Industries Ltd.
- F. Hoffmann-La Roche Ltd.
- Gilead Sciences, Inc.
The report provides a detailed analysis of these key players in the global breast cancer drugs market. These players have adopted different strategies, such as acquisition, product launch, product approval, and funding, to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Healthcare Sector
Europe In Vitro Fertilization (IVF) Market- Global Opportunity Analysis and Industry Forecast, 2021-2030
Coronary Stents Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
Precision Medicine Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
Viral Vector and Plasmid DNA Manufacturing Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/3950895/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/breast-cancer-drugs-market-to-reach-59-3-billion-globally-by-2032-at-8-4-cagr-allied-market-research-301846034.html
