Breast Cancer Therapeutics Market to Focus on Developing Companion Diagnostics Models

The increasing risk of breast cancer amongst women due to early onset of menopause, growing pool of geriatric women, and lifestyle changes are some of the factors driving the breast cancer therapeutics market. The changes in delayed childbearing, reproductive patterns, reduced breast feeding, excessive intake of oral contraceptive pills, and other estrogen modifying drug therapies are also contributing to the increasing risks of breast cancer amongst women.

The growing problem of obesity is also considered to be a major factor contributing towards rising cases of breast cancer. The fat tissues are known to be major producers of estrogen amongst postmenopausal women. Thus, excess fat and the high prevalence of obesity is indirectly driving the global breast cancer therapeutics market.

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The growth of domestic pharmaceutical companies that are making investments to meet the unmet demands of patients by manufacturing generic drugs as several patented drugs reach their patient expiration date are expected to boost the market. Furthermore, this market is also expected to find opportunity in developing companion diagnostic models that are customized for specific patients in accordance with the molecular characteristics of their malignancy.

However, the entry of local drug manufacturers has intensified the competition in the breast cancer therapeutics market. These manufacturers are offering generic versions of breast cancer drugs, which is severely impacting the market for branded drugs. The exorbitant cost of surgeries, radiation therapy, and chemotherapy also makes it unaffordable for a large number of patients, especially in the developing regions, where healthcare infrastructure is poor. All of these factors are expected to hamper the growth of the breast cancer therapeutics market in the foreseeable future.

Currently, North America holds a sizeable share in the global breast cancer therapeutics market due to supportive insurance schemes. In the coming years, this regional segment will acquire a 36.2% share of the overall market revenue. The significant drug segment in the market will be HER2 inhibitors in the forecast period as patents near expiration dates, giving entry to generic drugs. Thus, this drug segment will expand at a CAGR of 6.2% between 2015 and 2023. Given these positive developments, the opportunity in the overall market is also expected to rise to US$16.21 bn by 2023 from US$7.17 bn in 2014, enabling the market to exhibit a CAGR of 8.4% between 2015 and 2023.

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