Her2 Inhibitors Market : Current Analysis and Forecast (2023-2030)

Report Description

The Her2 inhibitors market was valued at USD 13,558.82 Million and is expected to grow at a strong CAGR of around 7.2% during the forecast period (2023-2030). The market is growing with increasing government funding. Deteriorating health coupled with the rising cost of medical treatments is one of the major reasons for concern across the globe which is leading to an increase in demand for effective cancer therapeutics. Owing to this and increasing research focus on cancer treatments among researchers, many governments across the globe are taking various initiatives and have expedited their product approval process. In addition to this, many government and private organizations globally are providing funding opportunities to different cancer institutes and centers for the advancement of research across the cancer control spectrum in prevention, screening, diagnosis, treatment, rehabilitation, survivorship, and palliative care. For instance, The Canadian Cancer Society is presently providing funding and support to three center-based research initiatives that include, the Canadian Centre for Applied Research in Cancer Control (ARCC), the Canadian Cancer Trials Group (CCTG), and Propel Centre for Population Health Impact

Some of the major players operating in the F. Hoffmann-La Roche Ltd; Pfizer Inc.; AstraZeneca; MacroGenics, Inc.; Puma Biotechnology, Inc.; Amgen Inc.; Biocon; Seagen Inc.; Viatris Inc.; and GSK plc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst drug type, the non-biologics segment to grow with high CAGR during the forecast period”

Based on the drug type, the market is bifurcated into non-biologics, and biologics & biosimilars. The non-biologics is anticipated to grow with significant CAGR during the forecast period. Non-biologics, particularly small molecule kinase inhibitors targeting Her2 are widely available in the market. The advent of small molecule drugs for cancer therapy has been a game-changer, revolutionizing the entire cancer treatment landscape. In fact, it can be argued that the development of small molecule drugs is a greater accomplishment than any other major breakthrough in cancer therapeutics, including radiation therapy and immune cells.

“Amongst treatment, the monotherapy category held a significant share of the market in 2022”

By treatment, the market is bifurcated into monotherapy and combination therapy. The monotherapy held a dominant share of the market in 2022. Monotherapy drugs have the potential to improve patient outcomes, as they target specific molecular pathways that are critical to cancer growth and survival. Moreover, these drugs may be less expensive than combination therapies, as they require fewer drugs and less complex treatment regimens. Several monotherapeutic Her-2 regimens have received approval, thus driving the growth of the market. For instance, in August 2022, Enhertu (trastuzumab deruxtecan), a breast cancer treatment developed by AstraZeneca and Daiichi Sankyo, has been approved by the US Food and Drug Administration (FDA) for use in adult patients with unresectable or metastatic HER2-low (IHC 1+ or IHC 2+/ISH-) breast cancer who have received prior chemotherapy in the metastatic setting or developed disease recurrence within six months of completing adjuvant chemotherapy.

“Amongst application, the stomach cancer category to grow with high CAGR during the forecast period”

Based on application, the market is categorized into stomach cancer, breast cancer, lung cancer, and others. The stomach cancer is anticipated to grow with significant CAGR during the forecast period. Most stomach cancers are a type called adenocarcinoma, which makes up almost 90% of cases. HER2 overexpression or amplification is present in about 20% of gastric cancers. Several key pharmaceutical companies are actively working in the HER2-positive gastric cancer market, including AstraZeneca, Bayer, Bristol-Myers Squibb, Hutchison Medipharma, LintonPharm, Shanghai Henlius Biotech, Jiangsu HengRui Medicine, Seagen, MacroGenics/Zai Lab, Merck Sharp & Dohme Corp., Eisai Inc, Merus N.V., OncXerna Therapeutics, Inc, Eli Lilly, and Company, and others. For instance, in December 2022, AstraZeneca and Daiichi Sankyo’s drug Enhertu (trastuzumab deruxtecan) got approved in the European Union (EU) as a treatment option for adult patients with advanced HER2-positive gastric or gastroesophageal junction (GEJ) adenocarcinoma.

“Asia Pacific to grow with high CAGR during the forecast period”

The Asia Pacific is anticipated to grow rapidly in the upcoming years owing to the surge in the prevalence of breast cancer and the encouraging response of Her2 inhibitors in its management. ccording to WHO, approximately 92,000 cases of breast cancer were diagnosed in Japan in 2020, with approximately 17,000 deaths. Furthermore, the domestic companies are actively investing in the development of Her2 inhibitors, thus driving the growth of the market. For instance, in January 2023, Japan’s Ministry of Health, Labour, and Welfare (MHLW) granted approval to Enhertu for the treatment of adult patients with HER2 low (IHC 1+ or IHC 2+/ISH-) unresectable or recurrent breast cancer after prior chemotherapy. Thus, these factors are driving the growth of Her2 inhibitors market in Japan.

Her2 Inhibitors Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Her2 inhibitors market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Her2 Inhibitors Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Her2 inhibitors market were the three major steps undertaken to create and analyze the adoption of Her2 inhibitors in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Her2 inhibitors market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Her2 inhibitors market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Her2 inhibitors market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as drug type, treatment, application, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Her2 inhibitors market. Further, we conducted factor analysis using dependent and independent variables such as drug type, treatment, application, and end user of the Her2 inhibitors market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Her2 inhibitors market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Her2 inhibitors market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Her2 inhibitors market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Her2 inhibitors market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Her2 inhibitors market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, modality, application, and end user in the global Her2 inhibitors market.

The main objective of the Global Her2 Inhibitors Market Study

The current & future market trends of the global Her2 inhibitors market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Her2 inhibitors market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the drug type, treatment, application, and end user
• Define and analysis of the regulatory framework for the Her2 inhibitors industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Her2 inhibitors market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Her2 inhibitors market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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