Rockville, MD, July 02, 2024 (GLOBE NEWSWIRE) -- According to a recently released research report by Fact.MR, the global triple-negative breast cancer treatment market size is estimated at US$ 670.5 million in 2024 and thereafter increase at a CAGR of 4.6%, to reach US$ 1.04 billion by the end of 2034.
Triple-negative breast cancer grows aggressively, spreads by the time it is detected, and often recurs after treatment. Nonetheless, "triple-negative" specifically denotes tumors that lack estrogen receptors (ER), progesterone receptors (PR), and excess HER2 protein.
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The global market for treating triple-negative breast cancer is projected to expand at a moderate pace over the forecast period as more patients opt for treatment in private hospitals. The growth of the medical tourism sector is also projected to fuel the growth of the breast cancer market in the years to come. Standardized healthcare practices and enhanced healthcare services are also projected to benefit treatment providers. Increased healthcare spending and demand for accurate diagnosis are boosting the adoption of this treatment.
Increased adoption of advanced medical technologies, reduced medical errors during cancer treatment, rising costs of cancer care, government initiatives supporting the development of therapies for TNBC, and heightened public awareness of advanced TNBC treatments are important market trends that players are capitalizing on.
Key Takeaways from the Market Study
- The global triple negative breast cancer treatment market is forecasted to expand at a CAGR of 4.6% from 2024 to 2034.
- The market is projected to reach US$ 1.04 billion by the end of 2034.
- The market in Brazil is set to reach US$ 16 million in 2024.
- Demand for triple breast cancer treatment in the United States is forecasted to rise at a CAGR of 4.7% from 2024 to 2034.
- Chile is expected to capture a market share of 25.7% in the Latin American region in 2024.
- The hospital pharmacies segment is estimated to generate revenue worth US$ 470.1 million in 2024.
“There is growing adoption of cutting-edge medical technologies in oncology, including TNBC treatment. Innovations such as targeted therapies, immunotherapies, and precision medicine are improving patient outcomes,” says a Fact.MR analyst.
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Government Funding Initiatives Ensuring Availability of Affordable Medications in Hospital Pharmacies
Most patients prefer hospital pharmacies because they are conveniently located within institutional settings, and the government provides funding to patients as needed and ensures that drugs are reasonably priced. Hospital pharmacies are open 24x7 and provide access to a wide range of medications. As a result, hospital pharmacies control a significant portion of the distribution channel segment.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the triple negative breast cancer treatment market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges insights into the triple negative breast cancer treatment market based on drug type (doxorubicin, cyclophosphamide, paclitaxel, docetaxel, carboplatin/cisplatin) and distribution channel (hospital pharmacies, specialty cancer clinics), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Key Market Players
Key players in the global market are Johnson & Johnson Services, Inc.; Teva Pharmaceuticals Industries Ltd.; Sun Pharmaceuticals Industries Ltd.; AstraZeneca PLC; Pfizer, Inc.; F. Hoffman-La Roche Ltd.; Sanofi S.A.; Seattle Genetics and Genentech; Bristol-Myers Squibb Company; Eli Lilly and Company; Mylan N.V.; Eli Lilly and Company; Celgene Corporation.
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