New York, April 25, 2023 (GLOBE NEWSWIRE) -- The Breast Cancer market size is projected to surpass around USD 49.2 billion by 2032, and it is poised to reach a registered CAGR of 9.8 % from 2023 to 2032. It size was valued at USD 19.8 billion, in 2022.
Breast Cancer is the most prevalent disorder among women, with an increasing prevalence. Signs and symptoms include lumps, changes to breast size and shape, fluid leakage from the nipple, itchy red spots on the skin; also increasing symptoms like bone pain, lymph node swelling, breathing issues, and more.
Common types of breast cancer include Ductal carcinoma in situ (DCIS), Invasive breast cancer (ILC or IDC), Triple-negative breast cancer, and others. Greater demand from the medical industry to treat breast cancer patients with novel medicines has led to greater investment in the R&D department of the breast cancer field, which also has contributed to the market expansion.
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Key Takeaway:
- By therapy, in 2022, the breast cancer market was dominated by the targeted therapy segment due to its increased usage.
- By distribution channel, the hospital pharmacies segment dominated the largest market share and accounted for the largest revenue share in the Breast Cancer market in 2022.
- By end-user, the hospitals and clinics segment dominated the largest market share in end-user type analysis
- In 2022, North America dominated the market with the highest revenue share of 37%.
- APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.
Factors affecting the growth of the Breast Cancer Industry
There are several factors that can have an impact on the growth of the breast cancer industry. Some of these factors include:
- Aging population: Breast cancer incidence increases with age, and as the global population continues to age, the number of breast cancer cases is expected to increase.
- Lifestyle and environmental factors: Changes in lifestyle and environmental factors such as diet, physical activity, reproductive history, exposure to chemicals and radiation, and other factors may increase the risk of breast cancer.
- Genetic predisposition: Certain genetic mutations, such as BRCA1 and BRCA2, are associated with an increased risk of developing breast cancer.
- Technological advancements: Advances in diagnostic tools and treatment options, such as mammography, genetic testing, targeted therapies, and immunotherapy, can improve breast cancer detection and treatment outcomes.
- Increasing awareness and screening: Greater public awareness of breast cancer and the importance of regular breast cancer screening can lead to earlier detection, which can improve treatment outcomes.
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Top Trends in the Breast Cancer Market
The ongoing R&D efforts for the discovery and marketing of effective medications for the treatment of breast cancer are one of the most pervasive trends in the worldwide market. The urgent need for the discovery of cutting-edge therapies for better outcomes remains unmet as the number of people with breast cancer continues to rise worldwide. Sanofi, one of the major participants in the breast cancer therapeutics market, has been working on R&D projects to create new oral therapies for metastatic breast cancer.
Market Growth
The rising incidence of breast cancer across the world is one of the major drivers for industry growth over the forecast period. Further, industry expansion is expected to be driven by innovative diagnostic tests. The market will also see steady growth due to government efforts and rising awareness among individuals over the forecast period. The governments of several nations are performing a large number of screenings to detect early signs of breast cancer. One of the main factors that contribute to the increase in market value is the new and emerging technologies with cutting-edge features made for the treatment with increased treatment efficacy. The breast cancer market is growing as a result of increased medical developments, new product launches by key market players, improved patient treatment outcomes, increased medicinal efficacy & effectivity, and newly developed therapeutics for the condition.
Regional Analysis
The North American market for breast cancer is expected to be the most lucrative, both in terms of revenue and market share, during the period 2022-2032. In 2022, the region saw a boom in cancer patients due to hereditary factors and obesity. The regional market for breast cancer reached a revenue share above 37%. North America will likely continue to lead the projection period due to its increased R&D spending and widespread adoption of technologies (both new and old). Due to the high concentration of major players in the region, strategic partnerships, faster FDA approvals, and substantial investment in R&D, this market is expected to grow. These advancements will drive demand during the forecast period. The Asia-Pacific is expected to grow at a CAGR of 6.5% over the forecast period. This region will be a major emerging market for breast cancer in the coming years. The growing medical tourism industry in countries like India, China, and Malaysia will also increase the demand for treatment screening, and diagnosis of cancer.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 19.8 billion |
| Market Size (2032) | USD 49.2 billion |
| CAGR (from 2023 to 2032) | 9.8% |
| North America Revenue Share | 37% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Today, breast cancer is the leading cause of death worldwide. According to the World Health Organization (WHO), with around 10 million deaths in 2020 worldwide. It is the second leading cause. About one-sixth of worldwide deaths are caused by cancer. Additionally, 19.3 million cases of cancer were reported in 2020. This number is expected to rise to 30.2 million by 2040. Various cancers can be caused by factors like excessive alcohol consumption, tobacco use, unhealthy lifestyle, lack of exercise, and other conditions. The mortality rate can be decreased if cancer is detected early. Cancer Diagnostics aids in identifying biomarkers and proteins that help in the detection of the disease. The most common cancer diagnostic tests are imaging, endoscopy, genetic testing, biopsy, and laboratory tests. Market growth is further supported by the increasing number of tests being performed.
Market Drivers
- Increase in breast cancer cases: Breast cancer is one of the most prevalent cancers in women worldwide, and its incidence is rising. Breast cancer is currently the sixth most frequent cancer overall, according to the World Health Organization, with an estimated 2 million new cases being identified globally in 2020.
- Enhance innovative techniques developed for the treatment of breast cancer: Targeted therapies and immunotherapies, two cutting-edge treatments for breast cancer, have been made possible through research and technology. These therapies are more effective and have fewer adverse effects than conventional chemotherapy, which will increase the need for more recent, effective treatments.
Market Restraints
- High cost of treatment: During the course of the treatment for breast cancer, the administration of pharmaceuticals through numerous channels, including chemotherapy, medicines, & targeted therapy, might result in a variety of adverse effects. Nausea, diarrhea, mouth ulcers, skin diseases, high blood pressure, digestive problems, and many other conditions are examples of adverse effects. Because of these considerations and the severity of the negative effects, which may also make individuals feel weaker, it may be difficult for the market to grow in size. Increased side effects of immunotherapy & targeted chemotherapy could alter the market size.
- A side effect of breast cancer treatment: Treatment side effects can include gastrointestinal problems, oral ulcers, skin diseases, excessive blood pressure, and many others. Due to these considerations and the severity of the negative effects, which may also make individuals feel weaker, it may be difficult for the market to grow in size. Increased adverse reactions to immunotherapy and targeted chemotherapy may also affect the market's size.
- Costly Development: The difficulty and expense of developing new breast cancer treatments and medications may reduce the number of businesses ready to make investments. Furthermore, high medicine prices frequently result from high development expenses, which in turn restrict patient access to treatment.
Market Opportunities
Two examples of increased government support are the advancement of pharmaceutical development and research for the treatment of breast cancer as well as the growing support from governments of different regions in the development of treatments using cutting-edge technologies to enhance patient health. More people are able to choose therapy and take advantage of the medications and treatments that are available to improve life quality because of improved reimbursement rules.
With an estimated 2.3 million new cases of breast cancer detected annually, it is a serious public health issue. The improvement of breast cancer detection, diagnosis, and therapy is the main goal of research and development in the breast cancer market.
- Government Initiative Increase: Two examples of increased government assistance include improving the creation and study of medications for treating breast cancer and creating treatments using cutting-edge technologies to improve patient health. More people are able to choose therapy and take advantage of the treatments and medications that are available to improve life quality because of improved reimbursement rules.
- Enhanced Research and Development: With an estimated 2.3 million new cases of breast cancer detected annually, it is a serious public health issue. The improvement of breast cancer detection, diagnosis, and therapy is the main goal of research and development (R&D) in the breast cancer market.
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Report Segmentation of the Breast Cancer Market
Therapy Insight
Targeted therapy accounted for the largest market share in 2022 at over 30%. It is expected that this will continue to rise through the forecast period. According to therapy, the market for breast cancer has specialists with more experience in treatments involving cutting-edge manufactured therapies including for treating breast cancer with expanding market demands and societal disturbance. The market share is increasing as a result of improved breast cancer treatment options, early detection, and advancements in technology and research.
Distribution Insight
Due to patients' increased reliance on chemotherapy-related medications, hospital pharmacies are predicted to be the most lucrative category in the worldwide breast cancer market. The market for breast cancer therapies is anticipated to grow over the course of the projected period as a consequence of increasing patient demand for various medications and easier access to such items in hospital pharmacies. The leading market share holders in online pharmacies are ascribed to rising software development in hospitals and an increase in online prescriptions in hospitals, which throughout the anticipated period stimulated the market for breast cancer with more online pharmacies and improved connectivity.
End User Insight
The clinic's segment holds the top spot in the global market for 2020 and contributed more than 50.2% of the revenue. This segment has seen rapid growth due to an increased number of patients visiting the clinics, the increasing awareness regarding early diagnosis of cancer as well as, and a surge in in-house procedures for diagnosis in the hospitals are the factors contributing to the increased demand for this market.
Recent Development of the Breast Cancer Market
- In September 2020- The Partnership of Natco Pharma with Lupin introduced Lapatinib Tablets, 250mg, in the United States in September 2020 after receiving approval for such an Abbreviated New Drug Registration from the U.S. Federal Drug Administration (USFDA). The first manufacturer to sell 250mg Lapatinib Tablets will be Natco.
- In June 2020- Phesgo, a combination of pertuzumab, trastuzumab, and hyaluronidase, was developed in June 2020 for use as an intramuscular injection to treat patients with HER2-positive breast cancer.
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Market Segmentation
Based on Therapy
- Targeted Therapy
- Hormonal Therapy
- Surgery
- Radiation therapy
- Biologic therapy
- Chemotherapy
Based on the Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Based on the End User
- Hospitals
- Clinics
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
To expand their respective operations in overseas markets, emerging important players are concentrating on a range of strategic policies. One of the key characteristics of the competitive global market is the dominance of a small number of significant companies engaged in the sales of cancer therapies. These include companies like AstraZeneca, Pfizer Inc., Novartis AG, Genentech (F. Hoffmann-La Roche Ltd), and others. Because of their wide variety and potent product lines of drugs for the treatment of breast cancer, these companies collectively control the lion's share of the market.
Some of the major players include:
- Mylan Laboratories
- AstraZeneca
- Celltrion
- Bristol-Myers Squibb
- Fresenius Kabi
- Eisai Co. Ltd
- Baxter Healthcare Corporation
- GlaxoSmithKline
- Pfizer Inc.
- Halozyme Inc.
- Merck & Co
- Kyowa Kirin
- Sanofi
- Novartis AG
- Eli Lilly and Company
- Genentech
- Other Key Players
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