Breast Cancer Therapeutics Market is anticipated to rise at a CAGR of 9.1% from 2020 to 2030
The Global Breast Cancer Therapeutics Market size is estimated to be USD 17.77 billion in 2019 and is predicted to reach USD 46.32 billion by 2030 with a CAGR of 9.1% from 2020-2030. Breast cancer is abnormal growth of cell developed in breast tissue. Signs of breast cancer includes lump in the breast, change in shape of the breast, dimpling of the skin; emission of fluid from the nipple, a newly inverted nipple, or a red or scaly patch of skin. Breast cancer is detected either during a screening examination, before symptoms have developed, or after a woman notices a lump.
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Currently, there are few main groups of medications used for breast cancer treatment namely; hormone-blocking agents, chemotherapy, combination therapies and targeted therapies. Additionally, radiation therapy is also given after the surgery. Over the past few years, extensive advancements have been made in the discovery of new drugs for treatment of breast cancer. Based on these discoveries, the market is currently at a stage of witnessing a number of new product approvals based on increased acceptance of exceptional targeted therapies. Moreover, improved imaging techniques, bone-directed treatments, and nanotechnology also open new avenues for breast cancer treatment.
Market Dynamics and Trends:
Breast cancer is the second most common type of cancer observed in women across the globe. According to the Breast Cancer Organization, about 1 in 8 women in the US will develop invasive breast cancer over the course of her lifetime. In 2018, an estimated 266,120 new cases of invasive and 3,960 new cases of non-invasive breast cancer are expected to be diagnosed in women in the US. Globally, over 2 million new cases were expected to be identified in 2018. This high prevalence of breast cancer is the major factor driving the demand for breast cancer treatment, worldwide. Additionally, increasing awareness about breast cancer, growing research and development, and government initiatives are some additional factors contributing to the Breast Cancer Therapeutics market growth. However, high cost of the treatment, and adverse effects related to chemotherapy and radiation are likely to hinder the growth of breast cancer therapeutics market.
Innovation, research and development, product approvals, and product launches are the major focus of the players in breast cancer treatment market. In 2015, Roche launched Perjeta, a breast cancer drug in the UK for use in women with HER2-positive breast cancer before surgery. Also, in October 2018 Sermonix Pharmaceuticals announced the launch of a Phase 2 trial for the treatment of metastatic breast cancer. Such activities enable the players to improve their product offerings and strengthen their position in the global breast cancer therapeutics market. Various companies also conduct corporate social responsibility activities and events that help in educating women about breast health and preventive measures to be taken.
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The breast cancer therapeutics market share is analysed on the basis of product, end user and geography. On the basis of product the market is divided into radiation therapy, targeted therapy, hormonal therapy, and chemotherapy. The end user segment covers the Breast Cancer Therapeutics market for hospitals, cancer research organizations, specialty clinics, and ambulatory centers. The geographical segmentation covers North America, Europe, Asia Pacific, and Rest of the World.
Competitive Landscape:
Comprehensive competitive analysis and profiles of major market players such as Novartis AG, Pfizer, Oncogenex, Apthera Inc., Astellas, BioNumerik Pharmaceuticals, Oncothyreon Inc., Bipar Sciences, Sanofi S.A. and F. Hoffman - La Roche Ltd is also provided in this report.
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