Global Breast Cancer Market to Grow at 58.3% CAGR to 2023
According to a new market research report by Transparency Market Research, the global breast cancer therapeutics market was valued at $55.5 million in 2015 and is estimated to reach $7,853.1 million in 2023 at a CAGR of 58.3% from 2015 to 2023.
Breast Cancer Therapeutics: Pipeline Analysis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 states that, among all the pipeline drugs in phase III, Puma Biotechnology's Neratinib is estimated to generate maximum revenue by 2023. Neratinib is a potent irreversible tyrosine kinase inhibitor (TKI) that blocks signal transduction through the epidermal growth factor receptors, or EGFRs, HER1, HER2, and HER4.
Pfizer's Palbociclib + Fulvestrant is reported to be the second most promising drug and is expected to provide promising therapeutic results in the treatment of breast cancer. Palbociclib is an investigational drug and an oral targeted agent that selectively inhibits cyclin-dependent kinases (CDKs) 4 and 6 in order to regain cell cycle control and inhibit proliferation of tumor cells.
The pipeline of breast cancer therapeutics is expected to generate significant revenue after commercialization primarily due to rising prevalence of breast cancer and associated mortality globally. Existing manufacturers and new entrants are therefore recommended to focus on the key growth areas and capitalize on the potential growth opportunities.