PUBLISHER: The Business Research Company | PRODUCT CODE: 1435403
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435403
HER2 inhibitors constitute a group of medications employed in treating HER2-low and HER2-positive breast cancers across various stages, from early to metastatic. These drugs target the HER2 receptor proteins present on breast cancer cells, hindering the reception of growth signals in HER2-positive breast cancer.
Treatments mainly consist of monotherapy and combination therapy. Monotherapy involves using a single medication for treating specific conditions or diseases. These treatments find applications in various cancer types such as squamous cell carcinoma, adenocarcinoma, large cell carcinoma, as well as breast cancer, and are utilized across healthcare sectors including hospitals, clinics, and other medical settings.
The HER2 inhibitors market research report is one of a series of new reports from The Business Research Company that provides HER2 inhibitors market statistics, including HER2 inhibitors industry global market size, regional shares, competitors with a HER2 inhibitors market share, detailed HER2 inhibitors market segments, market trends and opportunities, and any further data you may need to thrive in the HER2 inhibitors industry. This HER2 inhibitors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The her2 inhibitors market size has grown strongly in recent years. It will grow from $8.77 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed in the historic period can be attributed to several factors, including advancements in biotechnology, successful clinical trials, a shift in treatment approaches, substantial investments in research and development, as well as improvements in patient outcomes.
The her2 inhibitors market size is expected to see strong growth in the next few years. It will grow to $13.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. Forecasted growth is driven by patient-centered care, regulatory changes, drug resistance management, global market expansion, broader treatment indications, and precision oncology adoption. Anticipated trends involve increased patient advocacy, expanded clinical research, improved early detection, precision medicine utilization, and adjuvant/neoadjuvant therapy advancements.
The increasing incidence of breast cancer cases worldwide is expected to be a significant factor contributing to the growth of the HER-2 inhibitors market in the forecast period. As of January 2022, the American Cancer Society reported projections of 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the United States alone. Breast cancer ranks among the four most common types of cancer globally, alongside lung, prostate, and bowel cancer, collectively accounting for 43% of all new cancer cases. Given this rise in breast cancer incidence, there is an anticipated increase in the demand for HER-2 inhibitors in the coming years.
Government initiatives aimed at improving breast cancer care and treatment are poised to drive the growth of the HER2 inhibitors market. These initiatives involve the implementation of policies, funding, and programs by governments to enhance the accessibility, affordability, and quality of care for individuals diagnosed with breast cancer. Such government-led efforts have played a crucial role in improving access to HER2 inhibitors, a vital treatment for breast cancer, through subsidized programs and research funding. As an example, in 2021, the World Health Organization established the Global Breast Cancer Initiative (GBCI) with the goal of reducing breast cancer mortality by 2.5% annually over a 20-year period, ultimately saving 2.5 million lives. The proactive measures taken by governments to enhance breast cancer care and treatment underscore the driving force behind the growth of the HER2 inhibitors market.
The substantial costs associated with HER2 inhibitor market treatments pose a significant challenge for citizens in many countries. The imperative to control expenses and demonstrate value in healthcare is pervasive, particularly considering political uncertainty and ongoing economic strains in numerous nations that raise questions about the sustainability of public healthcare funding. This issue is particularly pronounced in less affluent countries where the absence of cost-effective cancer therapies has implications for population health, contributing to lower average life expectancies. Trastuzumab, a licensed HER2 inhibitor, stands out as one of the most expensive systemic cancer therapy procedures across various disease sites. The cost of trastuzumab in India, for example, ranged from $774.6 to $841.35 per 440 mg vial. For patients with HER2-positive early breast cancer, the treatment typically requires nearly 18 cycles of trastuzumab-based therapy, resulting in a total cost exceeding $1,335.52 in India. These exorbitant costs associated with HER2 inhibitors create financial barriers to access and are anticipated to impede the growth of the HER2 inhibitor market. The high financial burden of these treatments can limit their availability and affordability for a significant portion of the population, hindering equitable access to essential cancer therapies.
Prominent companies in the HER2 inhibitor market are strategically concentrating on the development of treatments for specific breast cancer subtypes to gain a competitive advantage. One such focus is on addressing HER2-low breast cancer, a newly defined subset of HER2-negative breast cancer characterized by tumors that do not overexpress or produce an excess of the HER2 protein. In August 2022, AstraZeneca PLC, a leading UK-based pharmaceutical and biotechnology company, achieved a milestone as the U.S. Food and Drug Administration (FDA) granted approval for Enhertu (fam-trastuzumab deruxtecan-nxki). Enhertu is recognized as the first HER2-directed therapy designed for patients with HER2-low metastatic breast cancer. Administered through intravenous infusion, Enhertu is prescribed for adults who have undergone prior metastatic chemotherapy or experienced disease recurrence within six months of completing adjuvant chemotherapy, targeting HER2-low (IHC 1+ or IHC 2+/ISH-) breast cancer.
Major players in the HER2 inhibitor market are directing their efforts towards developing treatments for pre-treated HR+/HER2-metastatic breast cancer. This particular breast cancer subtype, characterized by the presence of hormone receptors (HR+), is the focus of therapeutic development. In February 2023, Gilead Sciences, Inc., a prominent US-based biopharmaceutical company, received approval from the U.S. FDA for Trodelvy (sacituzumab govitecan-hziy). Trodelvy is intended for the treatment of adults with unresectable locally advanced or metastatic HR-positive, HER2-negative breast cancer. This approval is specifically granted for patients who have undergone prior endocrine-based therapies and two additional systemic treatments in the metastatic setting, addressing the needs of this particular patient population. These strategic initiatives underline the companies' commitment to developing targeted therapies for specific breast cancer subtypes, contributing to their competitive positioning in the HER2 inhibitor market.
In August 2021, Pfizer Inc., a U.S.-based pharmaceutical and biotechnology corporation, completed the acquisition of Trillium Therapeutics Inc. for an undisclosed sum. This strategic move is intended to strengthen Pfizer's leadership position in oncology, particularly in the field of hematology. The acquisition aims to enhance Pfizer's hematology portfolio, with a focus on improving outcomes for individuals affected by blood cancers globally. Trillium Therapeutics Inc., based in Canada, is a company dedicated to developing therapies for the treatment of cancer.
Major companies operating in the her2 inhibitors market report are Pfizer Inc., Johnson & Johnson Services Inc., F Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca PLC, Takeda Pharmaceutical Company Limited, Eli Lilly International Corp., Gilead Sciences Inc., C.H. Boehringer Sohn AG & Co. KG, Applied Molecular Genetics Inc., Viatris Inc. US, Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Catalent Inc., Ipsen SA, Cipla Limited, the Pierre Fabre Group, Biocon Biopharmaceuticals Pvt. Ltd., Innovent Biologics Inc., Halozyme Therapeutics Inc., Seattle Genetics Inc., Zymeworks Inc., Puma Biotechnology Inc., MacroGenics Inc., Mersana Therapeutics Inc., Cellestia Biotech AG
North America was the largest region in the HER2 inhibitors market in 2023. Middle East is expected to be the fastest-growing region in the HER2 inhibitors market report during the forecast period. The regions covered in the her2 inhibitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the her2 inhibitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The HER2 inhibitor market consists of sales of lapatinib, neratinib, tucatinib, and pyrotinib. Values in this market are ""factory gate values,"" that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
HER2 Inhibitors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on her2 inhibitors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for her2 inhibitors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The her2 inhibitors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.