The global breast cancer drugs market is anticipated to gain lucrative growth over the forecast period owing to rising incidences of breast cancer and advent of novel therapies. Rising incidence of the disorder is the consequence of mutations in genetic profile of the patients, exposure to harmful radiations, unhealthy lifestyles, and rising female geriatric population. Advent of novel therapies such as Abraxane, Albumin-bound nanoparticle drugs, and Custirsen Sodium are expected to induce the demand for the market further.
The global breast cancer drugs market is segmented on the basis of treatment into surgery & radiation therapy, hormonal therapy, chemotherapy, and targeted therapy. As of 2014, chemotherapy held the largest share of the breast cancer drugs market as a consequence of rapid destruction and prevention of multiplication of cancer cells, thereby restricting the progression of disease. It was followed by surgery and radiation therapy owing to rising prevalence of complex patient profiles with shrunk tumors that are removable through surgery only. Targeted therapy is expected to be the fastest growing over the forecast period owing to benefits such as less collateral damage to surrounding tissue, less toxic levels, and localized action.
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As of 2014, North America held the substantial share of global breast cancer drugs market due to factors such as rising incidences of breast cancer and increasing government welfare initiatives. Moreover, advanced healthcare infrastructure, increased awareness, and reimbursement policies are also responsible to induce the growth of this region. Asia Pacific is expected to be the fastest growing owing to factors such as rising investments, increasing disposable income, improving healthcare infrastructure, rising awareness regarding the early signs and methods of detection of breast cancer.
The key market players include BioNumerik Pharmaceuticals, Bipar Sciences, Pfizer, Oncogenex, Novartis AG, Astellas, and Apthera Inc. These players employ strategies such as focusing on new product approvals and developing innovative products. Employment of strategic partnership, co-development, key licensing agreement, and targeting regions enable to lead the market. They emphasise on developing cost-efficient new drug pipelines that leads to expansion of their market share.
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