Updated on 7 January 2016
Global breast cancer therapeutics market is set to increase in value from USD10.4 billion in 2014 to USD17.2 billion by 2021
Singapore: Global breast cancer therapeutics market is set to increase in value from $10.4 billion in 2014 to $17.2 billion by 2021, at a compound annual growth rate (CAGR) of 7.3 percent, according to business intelligence provider GBI Research.
The growth will be primarily due to substantial increases in the prevalence of breast cancer, with rates of the disease expected to rise over the forecast period due to an aging population, changing lifestyles and higher survival rates, according tot he report.
Ms Deekshita Allavarapu, analyst, GBI Research, remarked that the introduction of several new therapies will help to drive breast cancer treatment market growth by 2021.
Mr Allavarapu explained, "In terms of upcoming breast cancer treatments, the overall pipeline is strong, with 743 products, and the early pipeline has many experimental molecules designed to target novel pathways."
"Promising pipeline drugs include abemaciclib, buparlisib, LEE 011, Olaparib and NeuVax, all of which are expected to be approved within the forecast period and have demonstrated significant clinical benefits in trials. In addition, rapid uptake of premium-priced biologics, such as Perjeta and Kadcyla, in all settings of the disease will contribute to the market growth," she said.