Farmington, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The global Breast Cancer Market size was estimated at USD 31.89 Billion in 2022 and is projected to hit around USD 70.51 Billion by 2030 with a registered CAGR of 10.43% during the forecast period 2023 to 2030. The most prevalent ailment in the population is breast cancer. The majority of its victims are women, and the incidence is growing. Breast cancer typically develops in the breast tissues. Breast lumps, changes in breast size and shape, fluid coming from the nipple, and irritable, scaly, or red spots on the skin are all indications of breast cancer. It is a disease that is spread by a condition that exacerbates symptoms including bone pain, swollen lymph nodes, breathing difficulties, and many others.
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Breast cancer can begin to spread when certain genes, such as Human Epidermal Growth Factor Receptor 2, are present (HER2). When this protein is present in the body, cancer spreads, and cell growth is accelerated. Breast cancer with a positive HER2 receptor is more aggressive than other forms. To treat and remove the tumour and concentrate more on HER2, a variety of treatments are available. which expands the market for breast cancer as the annual growth in both the patient population and the recovery rate from breast cancer.
Breast Cancer Market Recent Developments:
- In September 2020, breast cancer market company Natco Pharma received FDA approval to begin collaborating on Lapatinib Tablets, a product from marketing partner Lupin. NATCO was the first applicant for Lapatinib Tablets. The same verified certificate was provided.
- In June 2020, Phesgo also received US federal approval to treat skin and related problems. Depending on the diagnostic test, patients are selected for this test.
Breast Cancer Market Segmentation Analysis:
Based on therapy, the market for treating breast cancer has more skilled experts, more sophisticated remedies, more market demand, and greater agitation in the populace. The number of breast cancer therapies is increasing, and more research and technology are being applied to them, which helps to increase the market share.
The market for hormone receptors throughout the projected period is anticipated to increase at the highest pace for breast cancer, according to a study of the different types of cancer. This is due to the fact that there are more cases of breast cancer every year, and new treatments are being created. The hormone receptor HER2 lost market share, although novel breast cancer treatments could spur faster CAGR growth over the course of the projected period.
The hospitals with the largest market shares constructed their own pharmacies inside the hospitals based on how they delivered their products to customers. because the patient's dependence on the medications they need for chemotherapy is growing. The breast cancer market is anticipated to expand over the forecast period as a result of patients' increasing demand for pharmaceuticals and hospital pharmacies' improved ability to supply them.
Regional Outlook:
Geographically, North America has the largest breast cancer market share and is the market leader. The market is expanding because there are more treatments for breast cancer and more people are being diagnosed with the disease. This is aided by the fact that the government is devoting more resources to the development of new treatments, and the improved effectiveness and efficacy of medications also contribute to the expansion of the market. There are more people in the market, and they are increasing their investments in new items, thereby expanding the market. As the number of patients and their needs increase, Asia-Pacific will have the second-greatest market share. In Europe, Latin America, the Middle East, and Africa, the market is expanding.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 8.6% from 2023 to 2030 |
| Market Size in 2022 | USD 31.89 Billion |
| Revenue Forecast by 2030 | USD 70.51 Billion |
| By Therapy | Targeted Therapy, Hormonal Therapy, Surgery and radiation therapy, Biologic therapy |
| By Cancer Type | Hormone Receptor, HER2+ |
| By Distribution Channel | Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others |
| By Companies | Merck & Co, Bristol Myers Squiib, Kyowa Kirin, Eisai Co.Ltd, Sanofi, Pfizer Inc, AstraZeneca, Novartis AG, Eli Lilly and Company, Genentech, Mylan Laboratories, Celltrion, Fresenius Kabi, Baxter Healthcare Corporation, Halozyme Inc, GlaxoSmithKline, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Breast Cancer Market Dynamics:
Market Drivers:
The increased incidence of breast cancer is a significant market driver. Breast cancer is one of the numerous diseases that currently kill individuals. It has a significant impact on the lifestyles of many individuals. This sort of cancer must be identified and treated appropriately. The healthcare industry is under significant pressure to address breast cancer cases. According to the American Cancer Society, it is a common kind of cancer. Women in the region are especially harmed by this. The increase in male breast cancer is another factor pushing this market. In many locations, there is a high need for breast cancer testing, treatment, and services.
Market Restraints:
As the breast cancer market expands, better care may be provided to cancer patients. Chemotherapy enables several cancer patients to recover and resume living normal lives. However, the high cost of the treatment is one factor that inhibits the growth of this industry. There is an urgent need to manage the market and reduce expenses. In general, chemotherapy is expensive. Few individuals with cancer can afford this treatment.
Market Opportunity:
As the market for chemotherapy expands, there will be ample room for expansion. Those with breast cancer are more susceptible to illness. This type of cancer must be treated immediately to prevent it from spreading. Chemotherapy and other modified kinds of treatment have gained popularity in recent years. Chemotherapy can prevent the spread of cancer cells. It is a common treatment for the majority of cancer types. In the coming years, there will be a significant increase in the number of people receiving chemotherapy. More investment in this area will also result in market shifts.
Breast Cancer Market Key Segments Covered:
Top Market Players:
Merck & Co, Bristol Myers Squiib, Kyowa Kirin, Eisai Co.Ltd, Sanofi, Pfizer Inc, AstraZeneca, Novartis AG, Eli Lilly and Company, Genentech, Mylan Laboratories, Celltrion, Fresenius Kabi, Baxter Healthcare Corporation, Halozyme Inc, GlaxoSmithKline, and Others.
By Therapy
- Targeted Therapy
- Abemaciclib
- Adotrastuzumab Emtansine
- Everolimus
- Trastuzumab
- Ribociclib
- Palbocicib
- Pertuzumab
- Olaparib
- Others
- Hormonal Therapy
- Selective Estrogen Receptor Modulators
- Aromatase Inhibitors
- Estrogen Receptor Downregulators
- Chemotherapy ( Epothiones, Taxanes, Alkylating agents, Anthracyclines, Anti-metabolites)
- Immunotherapy
- Surgery and radiation therapy
- Biologic therapy
By Cancer Type
- Hormone Receptor
- HER2+
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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