Breast cancer market to grow to over $13 billion by 2020

The increased use of targeted therapies, along with a greater uptake of branded drugs and rising incidence population, will cause the breast cancer therapeutics market value to grow from $9.2 billion in 2013 to $13.1 billion by 2020.

According to a new report from business intelligence provider GBI Research, this moderate growth, which relates to eight major markets (the USA, the UK, France, Germany, Spain, Italy, Japan and Canada), will occur at a compound annual growth rate (CAGR) of 5.1%.

GBI Research analyst Saurabh Sharma says: “The total value of the breast cancer treatment market will increase by almost $4 billion over the forecast period thanks to branded drugs becoming more favored. This is despite the launch of trastuzumab biosimilars that are likely to compete actively with [Roche’s (ROG: SIX)] branded Herceptin. Market growth will also result from the launch of a number of premium-priced agents, plus a gradual increase in the use of targeted therapies.”