Global CDK 4/6 Inhibitor Drugs Market to Witness Remarkable Growth, Backed by Growing Incidences of Breast Cancer Worldwide; Market to Generate a Soaring Revenue of USD 42511.38 Million by 2030
Research Nester
8 min read
Key Companies Covered in the CDK 4/6 Inhibitor Drugs Market Research Report Are Pfizer Inc., Novartis AG, Eli Lilly and Company, and other key market players.
New York, Jan. 27, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization (WHO), the total number of women diagnosed with breast cancer around the globe in the year 2020 was 2.3 Million. Moreover, in the same year, 685000 deaths were registered as a result of the disease. Furthermore, according to the statistics by the Global Cancer Observatory (GLOBOCAN), of the International Agency for Research on Cancer (IARC), WHO, the number of new cases of breast cancer amongst females aged 0 to 85 and above, globally, is expected to touch 3.2 Million by the end of 2040, while the number of deaths is expected to reach 1.0 Million in the same year.
Research Nester has recently released a report titled “CDK 4/6 Inhibitor Drugs Market: Global Demand Analysis & Opportunity Outlook 2020-2030” which includes a detailed comparative analysis of the competitors operating in the market, along with the growth opportunity analysis for the development of business. Moreover, the report also focuses on the key market dynamics by utilizing various statistical tools, such as PESTEL analysis, SWOT analysis, and others, studied for the forecast period of 2021-2030.
The exponential rise in the incidence of breast cancer worldwide is driving the need amongst pharmaceutical organizations to develop advanced prescription drugs that can help to treat these patients at an early stage. Backed by the surge in the research and development (R&D) spending in the pharmaceutical industry, which is expected to be close to USD 250 Billion by the end of 2025, up from around USD 150 Billion in the year 2015, the pharmaceutical companies are therefore developing advanced drugs, such as the CDK 4/6 inhibitor drugs, which have proven to be more efficient as compared to other available drugs.
The global CDK 4/6 inhibitor drugs market registered a revenue of USD 6991.70 Million in the year 2020 and is further estimated to garner a revenue of USD 42511.38 Million by the end of 2030, by growing with a CAGR of 13.2% during the forecast period. The market is also expected to grow on account of the surge in the current healthcare expenditure worldwide, which according to the World Bank, increased from 9.132 (% of GDP) in the year 2008 to 9.858% in the year 2018, and the rising awareness amongst individuals worldwide for the availability of treatment to treat breast cancer. Moreover, the increasing investments by the government of several developing nations globally in the research of breast cancer, in particular, is also predicted to boost the growth of the market in the coming years. For instance, according to the statistics by the National Institute of Health (NIH) of the United States Department of Health and Human Services, the funding for breast cancer in the country is expected to reach USD 834 Million by the end of 2022, up from a value of USD 657 Million in the year 2013.
The global CDK 4/6 inhibitor drugs market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these countries, the market in North America generated the largest revenue of USD 4992.07 Million in the year 2020 and is further expected to touch USD 30204.34 Million by the end of 2030. Moreover, the market in the region is segmented by country into the United States and Canada, out of which, the market in the United States is expected to hold the highest market share by the end of 2030, and also grow with the highest CAGR of 13.1% during the forecast period. On the other hand, the market in Europe generated the second-largest revenue of USD 1132.66 Million in the year 2020 and is further projected to touch USD 6929.36 by the end of 2030. By country, the market in the region is segmented into United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe, out of which, the market in Germany, in the year 2020, attained the largest revenue of USD 229.93 Million, and is further expected to reach USD 1434.38 Million by the end of 2030. Moreover, in France, the market is expected to garner the second-largest revenue of USD 1233.43 Million by the end of 2030, up from a revenue of USD 194.82 Million in the year 2020.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global CDK 4/6 inhibitor drugs market is segmented by drug type into palbociclib (Ibrance), ribociclib (Kisqali), and abemaciclib (Verzenio). Amongst all these segments, the palbociclib (Ibrance) segment registered the largest revenue of USD 5391.08 Million in the year 2020 and is further projected to reach USD 37659.17 Million by the end of 2030. Moreover, in North America, the segment registered the largest revenue of USD 26763.22 Million by the end of 2030, up from a revenue of USD 3848.89 Million in the year 2020. In addition to this, the segment grew with the highest CAGR of 13.4% during the forecast period in the United States.
On the other hand, in Europe, the palbociclib (Ibrance) segment generated a revenue of USD 873.67 Million in the year 2020 and is further predicted to expand to USD 6132.84 Million by the end of 2030. In Germany, the segment is expected to display the largest revenue of USD 1270.86 Million by the end of 2030, while in France, it is projected to touch USD 1090.35 Million in the same year.
The global CDK 4/6 inhibitor drugs market is further segmented by patient into pre-menopausal, post-menopausal, and others. Amongst all these segments, the post-menopausal segment is anticipated to hold the highest market share during the forecast period and also attain the largest revenue of USD 35794.04 Million by the end of 2030, up from a revenue of USD 5867.64 Million in the year 2020. In North America, the segment registered the largest revenue of USD 4188.73 Million in the year 2020 and is further expected to reach USD 25432.05 Million by the end of 2030. Moreover, in the United States, the segment is predicted to grow with the highest CAGR of 13.2% during the forecast period.
Apparently, in the Asia Pacific, the segment is anticipated to attain the largest revenue of USD 3974.21 Million by the end of 2030, up from a revenue of USD 605.02 Million in the year 2020. Besides this, in China, the post-menopausal segment registered the largest revenue of USD 156.07 Million in the year 2020 and is further expected to touch USD 1033.03 Million by the end of 2030, while that in Japan, the segment is projected to display revenue of USD 901.92 Million by the end of 2030.
The global CDK 4/6 inhibitor drugs market is also segmented by end-user.
Global CDK 4/6 Inhibitor Drugs Market, Segmentation by End-User
Hospitals
Clinics
Research Laboratories
Retail Pharmacies
Some of the prominent industry leaders in the global CDK 4/6 inhibitor drugs market that are included in our report are Pfizer Inc., Novartis AG, Eli Lilly and Company, and others.
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