Breast cancer is the most common cancer among women and the second leading cause of cancer-related deaths in women after lung cancer. Advancements in screening and treatment for breast cancer have improved survival rates in the last few decades. Breast cancer is a kind of cancer formed in tissues of the breast. The most common types of breast cancer are ductal carcinoma, which begins in the lining of the milk ducts and lobular carcinoma, which starts in the lobules (milk glands) of the breast.
In the US, around 12% of women develop breast cancer over the course of their lifetime. In Canada, an estimated 26,900 women were expected to be diagnosed with breast cancer in 2019 and breast cancer accounts for nearly 25% of new cases of cancer among Canadian women.
North America was leading the global breast cancer drug market with more than 45% of the revenue in 2018. The presence of standard healthcare infrastructure, increasing awareness about early disease diagnosis, and the presence of established players are among the factors that make North America a major shareholder in the market.
Product approvals, collaboration, and development of new drugs are among the strategies followed by dominant companies to strengthen their position in the market. For instance, in May 2019, Novartis announced the US FDA approval for Piqray in combination with fulvestrant for the treatment of postmenopausal women and men with hormone receptor-positive, PIK3CA-mutated, human epidermal growth factor receptor-2 negative (HR+/HER2-), advanced or metastatic breast cancer
Expiration of patents, high development cost of the drug, and strict regulatory guidelines are hampering the growth of the market. By considering all the above facts and figures and an in-depth analysis of the market, the market research company predicts that global breast cancer drugs market is going to reach revenue of around $36.7 billion, and is expected to grow at a CAGR of 9.4% during the forecast ed period of 2019- 2025.
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