Breast Cancer Market Size, Share, Growth and Demand Forecast to 2023

The global breast cancer market covers various diagnostic technologies and therapeutic drugs. Diagnostic segment is further sub-segmented into various tests which are used to diagnose breast cancer. Some of the major diagnostic tests are biopsy, mammography, MRI, etc. Therapeutic segment covers hormone therapies and chemotherapy drugs. Some of the major drugs are Trastuzumab, Bevacizumab, Anastrozole, Capecitabine, Carboplatin, Denosumab, Docetaxel, Doxorubicin, Eribulin, Exemestane, Fluorouracil, Fulvestrant, Gemcitabine, Ixabepilone, Lapatinib, Letrozole, Methotrexate, Paclitaxel and Tamoxifen.

North America accounts the largest global breast cancer market followed by Europe. The U.S., followed by Canada, is the largest market for breast cancer in North America. Key driving factor for this market is increasing prevalence of breast cancer in the region. Germany, France and the U.K. are some of the largest markets for breast cancer in Europe region. However, Asia-Pacific represents the fastest growing region in the global breast cancer market. This is due to improving healthcare infrastructure and increasing awareness among people about breast cancer. In developing countries, such as China and India, government has launched several programs and initiatives which increase awareness about the disease. It has led to significant rise in demand of breast cancer diagnostics and therapeutics for disease management. In addition, less stringent wages and availability of skilled labor attracts manufacturing companies to invest in developing countries.

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Increasing prevalence of the disease is a key driving factor for the global breast cancer market. Increasing awareness among people about the disease and rising number of geriatric women around the world are also supporting the growth of global breast cancer market. In addition, increased research in the field of oncology and development of biomarker has also fueled the growth of global breast cancer market. Increasing demand of advanced therapeutic drugs and extensive drug pipeline holds immense potential to the growth of the global breast cancer market.

However, patent expiry of various blockbuster drugs is key restraint of the global breast cancer market. Stringent regulations and legislations and side-effects of chemotherapy drugs also hinder the growth of global breast cancer market. Increasing mergers and acquisitions between drug manufacturing companies and government bodies are some of the major trends in global breast cancer market.

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Some of the major competitors in the market are Astrazeneca PLC, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Novartis AG, Sanofi-Aventis. Pfizer, Inc., Bristol-Myers Squibb Company, Bayer AG, GlaxoSmithKline plc and Teva Pharmaceutical Industries Ltd.

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