To thrive in this highly competitive market, drug developers must offer drugs that improve survival rates and the quality of life.
New analysis from Frost & Sullivan (pharmaceuticals.frost.com), U.S. Breast Cancer Therapeutics Markets, finds that the targeted therapies segment of the market earned revenues of $1.34 billion in 2007 and estimates this to reach $3.34 billion in 2013.
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The fastest growing segment of the U.S. population belongs to the aging segment, where the highest rates of breast cancer occur. The breast cancer market will remain a visibly important area of oncology. Companies are putting their research dollars into developing targeted breast cancer therapies that offer patients not only increased efficacy, but reduced side effects as well.
These innovative, targeted therapies have shown the greatest promise in the market and many are touting them as the future of breast cancer treatment. Combinations of these highly specific therapies with existing cytotoxic and hormonal therapies are rapidly becoming the standard of oncology care.
"Future research into treatment strategies will focus on drugs with clear therapeutic potential, as well as minimal side-effect profiles," says Frost & Sullivan Research Analyst Misty Hughes. "Specialized therapies such as monoclonal antibodies, angiogenesis inhibitors, and vaccines could make a significant impact through targeted mechanisms of action and minimized toxicities."
As the cost to develop new drugs increases, so does the degree of difficulty for smaller companies to develop products that make it through the approval process. These smaller companies must often seek and obtain licensing partnerships with larger corporations in order to defray costs associated with bringing new drugs to the market.
While smaller companies receive the required funds and personnel resources for developing new compounds, large enterprises expand their portfolio of potential new products, helping them proactively manage their pipelines.
"In order to attract larger companies, smaller companies must conduct well-designed pre-clinical tests that culminate in favorable results from phase I trials," notes Hughes. "The higher the potential of the investigative compound for treating more than one cancer is, the greater the likelihood of partnerships."
U.S. Breast Cancer Therapeutics Markets is part of the Pharmaceutical & Clinical Diagnostics Growth Partnership Service program, which also includes research in the following markets: European market for breast cancer therapeutics, world breast cancer therapeutics market, U.S. multiple myeloma market, and the U.S. colorectal cancer market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Interviews with the press are available.
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U.S. Breast Cancer Therapeutics Markets - N16A