HER2 Inhibitors Global Market Report 2023
Major players in the HER2 inhibitors market are F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Pfizer Inc., Puma Biotechnology Inc., Boehringer-Ingelheim, Mylan and Biocon. The global her2 inhibitors market is expected to grow from $6.61 billion in 2021 to $7.26 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "HER2 Inhibitors Global Market Report 2023" - https://www.reportlinker.com/p06241844/?utm_source=GNW
Major players in the HER2 inhibitors market are F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Pfizer Inc., Puma Biotechnology Inc., Boehringer-Ingelheim, Mylan and Biocon.
The global her2 inhibitors market is expected to grow from $6.61 billion in 2021 to $7.26 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The HER2 inhibitors market is expected to reach $10.60 billion in 2026 at a CAGR of 9.9%.
The HER2 inhibitors 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.
HER2 inhibitors refer to a group of drugs used to treat certain HER2-low breast malignancies as well as all stages of HER2-positive breast cancer, from early-stage to metastatic. Anti-HER2 drugs bind to the HER2 receptor proteins on the surface of breast cancer cells, and they function by preventing the HER2 receptors in HER2-positive breast cancer from receiving growth impulses.
North America was the largest region in the HER2 inhibitors market in 2022.Middle East is expected to be the fargest growing region in 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 and Africa.
The main types of treatments for HER2 inhibitors are monotherapy and combination therapy.Monotherapy refers to the use of single medicine to treat a specific condition or disease.
The different applications include squamous cell carcinoma, adenocarcinoma, large cell carcinoma, breast cancer, and others and involve several sectors such as hospitals, clinics, and others.
The rise in the number of breast cancer cases across the globe is likely to contribute to the growth of the HER-2 inhibitors market during the forecast period. According to the American Cancer Society, as of January 2020, there were more than 3.5 million women with a history of breast cancer in the US. This includes women currently being treated and women who have completed their treatment. According to the World Health Organization (WHO), breast cancer affected 2.3 million women globally in 2020, with 685 000 fatalities. Therefore, the rise in the breast cancer incidence rate globally is anticipated to boost the demand for the HER-2 inhibitors market over the forthcoming years.
High costs associated with the HER-2 inhibitors treatment are a major issue faced by citizens of many countries.The pressure to contain costs and demonstrate value is widespread.
Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.In less wealthy countries, the lack of cost-effective therapies for cancer has influenced the health conditions of the population and has led to a low average life expectancy.
Trastuzumab, a licensed HER2 inhibitor, has been the most expensive systemic cancer therapy procedure at a variety of disease sites. The cost of trastuzumab in India ranged from $774.6 to $841.35 per 440 mg vial. In patients with HER 2 positive early breast cancer, nearly 18 cycles of therapy based on trastuzumab are needed which further charges more than $1,335.52 in India. Therefore, the high cost of HER2 inhibitors is expected to hinder the growth of the HER2 inhibitors market.
Biotechnology companies are focusing on acquiring or partnering with biopharmaceutical companies to develop and promote the HER-2 inhibitors market.There have been several partnerships in recent years which help these companies to increase their HER-2 inhibitors portfolio, enhance their revenues and share the costs.
For instance, in June 2020, Alphamab Oncology, a biotechnology company, collaborated with Sanofi, a pharmaceutical company, for investigating KN026 in combination with other drugs for the treatment of HER2 breast cancer. KN026 is a HER2 inhibitor developed by Alphamab Oncology.
In August 2021, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation acquired Trillium Therapeutics Inc for an undisclosed amount. This acquisition of Trillium will build a robust record of leadership in oncology, enhancing the hematology portfolio to enhance outcomes for people living with blood cancers worldwide. Trillium Therapeutics Inc is a Canada-based company that develops therapies for the treatment of cancer.
The countries covered in the HER2 inhibitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The HER2 inhibitors market research report is one of a series of new reports 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.
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