The elevating number of breast cancer patients and the development of cancer drugs are driving the growth of the global breast cancer therapeutics market in the forecast period, 2023-2027.
According to TechSci Research report, “Breast Cancer Therapeutics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global breast cancer therapeutics market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. Cancer refers to the uncontrolled growth of certain cells in the body that is being differentiated from normal cells. The outgrowth of abnormal cells in the breast leads to breast cancer. These cells usually form a tumour that can be felt as a lump, which is diagnosed by a mammogram. Mutations in DNA can force normal breast cells to become cancerous cells.
The growing number of incidences of breast cancer across the globe and the elevating need for therapeutics for cancer treatment are primarily driving the breast cancer therapeutics market. Along with this, extensive investments in research & development activities and advancements in cancer biology and pharmacology that promotes drug development are propelling the growth of the global head and neck cancer diagnostics market. The government has introduced several reimbursements and insurance policies that stimulate market growth. Also, the launch of numerous diagnostic and screening programs to make people aware of the benefits of early diagnosis of breast cancer is expected to drive the global breast cancer therapeutics market in the upcoming years.
Continuous technological upgradation in the therapeutics of breast cancer contributes to the growth of the global breast cancer therapeutics market. Several product innovations are aimed to treat breast cancer at the primary stage as well as the severe stage.
However, adverse side effects associated with the use of breast cancer therapeutics methods and the high cost of drugs may hamper the market growth in the forecast period.
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The global breast cancer diagnostic market is segmented based on therapy, end user, company, and regional distribution.
Based on the therapy, the market is divided into chemotherapy, hormone therapy, immunotherapy, targeted therapy, and others. Targeted therapy is expected to account for the highest market share in the forecast period. Targeted therapy possesses the versatility to combine with various other therapies coupled with the emergence of a personalized approach to improve clinical outcomes. Recent clinical analysis has widened the scope of targeted therapies to include multiple molecules in targetable pathways. Moreover, developments in treatment for metastatic hormone receptor-positive breast cancer have accelerated the utilization of targeted therapies.
Based on the end user, the market is divided into hospitals, specialty clinics, ambulatory surgical centers, and others. Hospitals are anticipated to account for the largest market share during the forecast period. Hospitals provide all needed facilities to the patients to offer treatment from the renowned surgeon as well as a positive environment for better results. With this, the hospital also focuses on offering all kinds of advanced testing from advanced equipment and novel technologies with accurate outputs.
Based on regional analysis, the North American region is expected to dominate the global head and neck cancer diagnostic market in the forecast period. The rising number of breast cancer in the region is expected to escalate the demand for breast cancer therapeutics. Besides this, the presence of leading market players and favourable reimbursement scenarios for breast cancer treatment is expected to support the market growth in the forecast period.
Key market players operating in the global breast cancer therapeutics market are:
- Novartis AG
- Pfizer Inc.
- Eli Lilly & Company
- Merck Co. & Inc.
- GlaxoSmithKline, Plc.
- AstraZeneca Plc.
- Bristol-Myers Squibb Company
- Halozyme Inc.
- Eisai Co., Ltd.
- Fresenius Kabi AG
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“Lifestyle-related risk factors, including regular consumption of fast food, lack of exercise, and an inadequate amount of sleep, can lead to chances of developing breast cancer. The incidences of breast cancer and mortality rate associated with breast cancer are significantly high. The emerging trend of introducing novel and advanced therapies, including immunotherapies and targeted therapies in developing as well as developed regions of the globe, are expected to stimulate the global breast cancer therapeutics market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Breast Cancer Therapeutics Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Therapy (Chemotherapy, Hormone Therapy, Immunotherapy, Targeted Therapy, Others), By (Chemotherapy Drugs (Anthracyclines, Taxanes, Antimetabolites, Others), By Hormone Therapy (Selective Estrogen Receptor Modulators, Aromatase Inhibitors, Others), By Targeted Therapy (Monoclonal Antibodies, Tyrosine Kinase Inhibitor, Herceptin, Others), By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), and By Region”, has evaluated the future growth potential of global breast cancer therapeutics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global breast cancer therapeutics market.
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