New York, USA, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global breast cancer therapy market size is predicted to grow from USD 30.90 billion in 2023 to USD 63.13 billion by 2032. It is anticipated to grow at a CAGR of 8.5% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Explanation:
What is Breast Cancer Therapy?
Some treatments, such as surgery and radiation, are local, indicating they cure the tumor without impacting the remainder of the body. The majority of women with breast cancer will have some kind of operation to separate the tumor. Depending on the type of breast cancer and its occurring stage, one may require other kinds of treatment as well, either prior to or succeeding surgery and often both. Drugs utilized to cure breast cancer are contemplated as systemic therapies as they can approach cancer cells almost anywhere in the body. Some can be administered by mouth, injected into a muscle, or administered instantly into the bloodstream.
The breast cancer therapy market is witnessing substantial demand owing to factors such as maturing population, lifestyle alterations, and ecological factors. Also, technological progressions in treatment alternatives, including earmarked therapies, immunotherapy, and precision medicine, are transforming breast cancer management. These cures are customized to distinct patients dependent on their biomarkers and genetic outlines, causing enhanced outcomes and curtailed ramifications contrasted to conventional methods.
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Breast Cancer Therapy Market Scope:
| Report Attributes | Details |
| Market value in 2023 | USD 30.90 billion |
| Market value by 2032 | USD 63.13 billion |
| CAGR | 8.5% from 2024-2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Points of Report:
- Various factors, including tactical enterprise shouldered by pharmaceutical firms to advance earmarked therapies customized to particular kinds of breast cancer, are driving the market for breast cancer therapy.
- The market is primarily segmented based on therapy, cancer type, distribution channel, and region.
- North America dominated the market with the largest breast cancer therapy market share.
Breast Cancer Therapy Market Key Contenders
- Novartis AG
- Pfizer Inc.
- Merck KGaA
- Janssen Pharmaceuticals, Inc.
- Celgene Corporation, Inc.
- Genzyme Corp.
- F. Hoffmann-La Roche Ltd.
- AstraZeneca
- AbbVie Inc.
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Growth Drivers and Trends:
Less Toxic Treatment Options: The earmarked therapies, which involve hormone therapies, HER-2 targeted therapies, and alternate molecularly earmarked representatives, provide more productive and less harmful treatment alternatives as contrasted to conventional chemotherapy.
Escalating Incidence of Breast Cancer: The growing cases of breast cancer are expected to push the market growth. Amidst women, breast cancer rates as one of the most common cancers globally and the subsequent most normal type, universally supporting the breast cancer therapy market growth.
Increasing Usage of Biomarkers: The usage of biomarkers and genetic testing sanctions healthcare donors to individualize treatment schemes for distinct patients, known as individualized and precision medicine. This perspective ascertains that patients obtain the most productive and minimal harmful treatments depending on their distinctive genetic configuration and cancer attributes.
Challenges:
High Costs: The reducing distinctiveness of critical commodities is anticipated to unfavorably impact a firm's presentation, captivating it to survey optional revenue streams. Further, with the government's growingly categorizing improved approach to medications and an escalating aggregate of firms encountering perusal over costing, there is an anticipation of further curtailment in drug costs.
Geographies Ushering Breast Cancer Therapy Market:
North America: The North America region dominated the breast cancer therapy industry with the largest revenue share. The region's dominance in the market can be attributed to factors such as the region encountering elevated cases of breast cancer, generating a robust demand for productive treatment alternatives.
Asia Pacific: Asia Pacific is anticipated to witness the fastest growth in the breast cancer therapy market over the estimated period. This is due to the growing consciousness of breast cancer and its treatment alternatives among the population.
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Segmental Overview:
By Therapy Outlook:
- Chemotherapy
- Hormonal Therapy
- Aromatase Inhibitors
- Estrogen Receptor Down regulators (ERDs)
- Selective Estrogen Receptor Modulators (SERMs)
- Targeted Therapy
- Ribociclib
- Palbociclib
- Pertuzumab
- Olaparib
- Abemaciclib
- Ado-Trastuzumab Emtansine
- Everolimus
- Trastuzumab
- Others
- Immunotherapy
- Radiation & Surgery Therapy
By Cancer Type Outlook:
- Hormone Receptor
- HER2+
- Others
By Distribution Channel Outlook:
- Retail Pharmacies
- Hospital Pharmacies
- Others
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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