In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
April 4, 2019: Pfizer Inc. released a statement stating that the United States Food and Drug Administration (FDA), has approved Ibrance (palbociclib) for the treatment of HR+, HER2– metastatic breast cancer in men.
October 13, 2021: Eli Lilly and Company announced that the United States Food and Drug Administration (FDA), has approved Verzenio (abemaciclib) for the treatment of adult patients with HR+, HER2-, node-positive, EBC, and a Ki-67 score of ≥20% breast cancer.
The global CDK 4/6 inhibitor drugs market is estimated to garner a revenue of USD 42511.38 Million by the end of 2030 by growing at a CAGR of 13.2% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 6991.70 Million. The growth of the market can be attributed to rising prevalence of breast cancer worldwide, and the growing need for advanced screening and treatment to cure the disease at an early stage. According to the statistics by the World Bank, 2.3 Million women were diagnosed with breast cancer in the year 2020. Moreover, in the same year, 685000 number of deaths caused due to breast cancer were registered. Besides this, owing to the rising advancements in the treatment of hormone receptor (HR) positive breast cancer, it has been observed that the CDK 4/6 inhibitor drugs have displayed good results as compared to other treatment methods. Hence, this drug has been highly preferred by oncologists for the treatment of breast cancer.
Additionally, the increasing advancements in the research and development of advanced drugs for the treatment and cure of breast cancer, is also expected to create numerous opportunities for the market growth. Backed by the surge in investment in the development of cancer drugs, the demand for CDK 4/6 inhibitor drugs is expected to grow remarkably, and in turn, boost the market growth. According to the statistics by the National Institute of Health (NIH), the research funding budget for breast cancer in the United States grew from USD 657 Million in the year 2013 to USD 788 Million in the year 2020. This is further projected to increase to USD 803 Million and USD 834 Million in the year 2021 and 2022 respectively.
Regionally, the global CDK 4/6 inhibitor drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is anticipated to garner the largest revenue of USD 30204.34 Million by the end of 2030, up from a revenue of USD 4992.07 Million in the year 2020. The growth of the market in the region can be attributed to the presence of a strong healthcare network, rising awareness for breast cancer amongst women, and the increasing need amongst the cancer patients to diagnose and treat the disease. According to the International agency for Research on Cancer (GLOBOCAN) of the World Health Organization (WHO), the estimated number of deaths caused due to breast cancer amongst women in North America is expected to grow from 48.4 Thousands in the year 2020 to 67.2 Thousands in the year 2040.
On the other hand, the market in Europe is expected to generate the second largest revenue of USD 6929.36 Million by the end of 2030. The market in the region is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is expected to generate the largest revenue of USD 1434.38 Million by the end of 2030, by growing from a revenue of USD 229.93 Million in the year 2020.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, 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). Out of these, the palbociclib (Ibrance) segment is expected to generate the largest revenue of USD 37659.17 Million by the end of 2030, up from a revenue of USD 5391.08 Million in the year 2020. Moreover, the segment is also expected to grow with the highest CAGR of 13.4% during the forecast period. By patient, the market is segmented into pre-menopausal, post-menopausal, and others. Out of these, the post-menopausal segment is expected to generate the largest revenue of USD 35794.04 Million by the end of 2030. By end-users, the market is further segmented into hospitals, clinics, research laboratories, and retail pharmacies. Out of these, the hospitals segment is expected to garner the highest market share by the end of 2030 and also attain the largest revenue of USD 24344.17 Million in the same year.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. 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.
Ans: The rising prevalence of breast cancer and the increasing advancements in cancer research are some of the major factors projected to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 13.2% over the forecast period, i.e., 2021 – 2030.
Ans: The high cost of the drug, and the concern for the side effects associated with the drug are estimated to hamper the market growth.
Ans: The market in North America region is anticipated to garner the largest revenue of USD 30204.34 Million by the end of 2030 and display significant business opportunities in the coming years.
Ans: The major players in the market are Pfizer Inc., Novartis AG, Eli Lilly and Company, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by drug type, patient, end-users, and by region.
Ans: The Palbociclib (Ibrance) segment is expected to generate the largest revenue of USD 37659.17 Million by the end of 2030 and display significant growth opportunities.