Breast Cancer Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: November 17, 2022
Historical Years – 2023 | Base Year – 2023 | Forecasted Years – 2023-2032
|
Report Attribute |
Details |
|
Market size value in 2023 |
US$ 28.48 billion |
|
Revenue forecast in 2032 |
US$ 72.53 billion |
|
Growth Rate |
CAGR of 9.8% from 2022 to 2030 |
|
Base year for estimation |
2023 |
|
Forecast period |
2023-2032 |
|
Segments covered |
Therapy, Cancer Type, Distribution Channel, and Region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global breast cancer therapeutics market was valued at US$ 28.48 billion in 2023 and is expected to register a revenue CAGR of 9.8% to reach US$ 72.53 billion by 2032.
Breast Cancer Therapeutics Market Fundamentals
Breast cancer therapeutics refers to the various medical treatments and interventions designed to diagnose, manage, and treat breast cancer. Breast cancer is a type of cancer that begins in the cells of the breast, and therapeutic approaches aim to control or eliminate the cancerous cells, prevent the spread of the disease, and improve the overall well-being and survival of individuals diagnosed with breast cancer. The field of breast cancer therapeutics encompasses a range of treatment modalities, and the choice of therapy depends on factors such as the type and stage of the cancer, as well as individual patient characteristics. Treatment plans are often tailored to the tumor's specific characteristics and the patient's overall health.
Breast Cancer Therapeutics Market Dynamics
The rising prevalence of breast cancer globally is a significant driver for the breast cancer therapeutics market. As the incidence of breast cancer continues to grow, there is a heightened demand for effective treatment options. According to the WHO, in 2020, approximately 2.3 million women were diagnosed with breast cancer, which caused 685,000 deaths globally. Ongoing research and development efforts in oncology contribute to discovering new therapeutic agents, treatment modalities, and targeted therapies. Continuous innovation drives the growth of the breast cancer therapeutics market. Advances in molecular biology and genomics have enabled the identification of specific biomarkers associated with breast cancer. This has led to the development of personalized medicine approaches, tailoring treatment plans to the unique characteristics of individual patients and their tumors. Public awareness campaigns and organized screening programs contribute to the early detection of breast cancer. Early-stage diagnosis often leads to more successful treatment outcomes and drives the demand for therapeutics. Improved imaging technologies and diagnostic tools aid in the early detection and accurate diagnosis of breast cancer. Early detection allows for timely intervention and enhances the effectiveness of treatment. The incidence of breast cancer increases with age, and as the global population ages, there is a growing pool of individuals at higher risk of developing breast cancer. This demographic trend contributes to the growth of the breast cancer therapeutics market.
Collaborations between pharmaceutical companies, research institutions, and healthcare organizations foster the development of new drugs and therapies. Partnerships can accelerate the translation of scientific discoveries into practical applications. Supportive government policies, research grants, and funding for breast cancer research and treatment programs are crucial in driving advancements in therapeutics and improving access to innovative treatments. Increasing patient awareness and advocacy for breast cancer contribute to a more informed and proactive patient population. Empowered patients often demand advanced treatment options, thus propelling the market growth.
However, the cost of breast cancer treatments, especially newer and targeted therapies, can be significant. This financial burden may limit access to advanced therapies for some patients, affecting market growth. Obtaining regulatory approvals for new breast cancer therapeutics is often lengthy and stringent. Strict regulatory requirements can delay the introduction of novel treatments to the market, hindering rapid innovation. Some breast cancer cells may develop resistance to certain therapies over time, leading to treatment failure. This challenge underscores the need for ongoing research into overcoming resistance mechanisms and developing more effective treatment strategies.
Breast Cancer Therapeutics Market Ecosystem
The global breast cancer therapeutics market is analyzed from three perspectives: therapy, cancer type, and region.
Breast Cancer Therapeutics Market by Therapy
Based on the therapy, the global breast cancer therapeutics market is segmented into targeted therapy, hormonal therapy, chemotherapy, and immunotherapy.
The targeted therapy segment had a significant share of the breast cancer therapeutics market, accounting for a 60% revenue share in 2023. The targeted therapy is further segmented into kinase inhibitors, antibody-drug conjugates, monoclonal antibodies, and others. Targeted therapies are designed to target cancer cells or specific molecular pathways involved in the growth and progression of cancer. This precision allows for a more targeted attack on cancer cells, minimizing damage to healthy cells and reducing side effects compared to non-targeted therapies like chemotherapy. Targeted therapies often involve a personalized or tailored approach based on the molecular characteristics of an individual's cancer. This personalized medicine approach allows for a more precise match between the treatment and the specific genetic or molecular profile of the patient's tumor.
Targeted therapies have demonstrated enhanced efficacy in certain breast cancer subtypes, such as HER2-positive breast cancer and hormone receptor-positive breast cancer. Targeted therapies typically have a more favorable side effect profile than traditional chemotherapy. They are designed to spare healthy cells, leading to a reduction in the overall toxicity of the treatment. This can result in improved patient tolerability and quality of life during treatment. Advances in molecular biology and cancer genomics have identified specific genetic and molecular alterations associated with breast cancer. This knowledge has paved the way for developing targeted therapies that directly address the underlying mechanisms driving cancer growth. Many targeted therapies have shown success in clinical trials, demonstrating improved outcomes in response rates, progression-free survival, and overall survival. Positive clinical trial results contribute to healthcare professionals accept and adopt targeted therapies. Over time, some targeted therapies initially approved for specific breast cancer subtypes have received expanded indications, allowing for their use in a broader patient population. This expansion contributes to the widespread adoption of targeted therapies.
Breast Cancer Therapeutics Market by Cancer Type
Based on the cancer types, the global breast cancer therapeutics market is segmented into hormone receptors, HER2+, triple negative, and others.
Hormone receptors accounted for the largest revenue share of the breast cancer therapeutics market, around 59% in 2023. Many breast cancers are classified as hormone receptor-positive, meaning the cancer cells have receptors for hormones such as estrogen and/or progesterone. Estrogen receptor-positive (ER-positive) and progesterone receptor-positive (PR-positive) breast cancers are the most common subtypes. According to the National Cancer Institute in the U.S., breast cancer subtype HR+/HER2- is the most common subtype with an age-adjusted rate of 87.2 new cases per 100,000 women. Hormones, particularly estrogen and progesterone, can stimulate the growth of hormone receptor-positive breast cancer cells. Hormonal therapies work by either blocking the production of these hormones or interfering with their binding to receptors, thereby inhibiting cancer cell growth. Hormones, particularly estrogen, play a crucial role in the growth and proliferation of HR-positive breast cancer cells. HR-positive tumors depend on hormone signaling for their growth, making them susceptible to interventions that target hormone receptors. Ongoing research in breast cancer continues to identify new hormonal therapies and combination strategies, expanding the therapeutic options available for HR-positive breast cancer.
Breast Cancer Therapeutics Market by Region
The global breast cancer therapeutics market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North American region has the largest breast cancer therapeutics market size in revenue generation, accounting for around 42% of the market share. North America has a relatively high incidence of breast cancer, with a significant number of new cases diagnosed each year. The prevalence of breast cancer is a major driver of the demand for therapeutics in the region. According to the American Cancer Society, in 2022, approximately 287,850 new cases of invasive breast cancer and 51,400 cases of DCIS will be diagnosed among US women, and 43,250 women will die from breast cancer. North America boasts advanced healthcare infrastructure, including well-equipped hospitals, research facilities, and skilled healthcare professionals. This infrastructure facilitates early diagnosis, comprehensive treatment, and the adoption of advanced therapeutics. The region is at the forefront of technological innovations in healthcare, including advancements in imaging technologies, diagnostics, and treatment modalities. These innovations contribute to early detection and improved treatment outcomes. North America is a hub for pharmaceutical and biotechnology research. Ongoing research and development initiatives in the region lead to the discovery of new drugs, targeted therapies, and treatment modalities, driving innovation in breast cancer therapeutics. Government agencies in North America, such as the National Cancer Institute (NCI) in the United States and equivalent bodies in Canada, provide support and funding for cancer research and treatment programs. This financial support accelerates advancements in breast cancer therapeutics. Strong patient advocacy groups and organizations in North America actively promote breast cancer awareness, research, and patient support. These groups are vital in shaping healthcare policies and fostering stakeholder collaboration. The majority of the population in North America has access to health insurance coverage, which enhances affordability and accessibility to breast cancer therapeutics. This, in turn, supports the demand for advanced treatment options.
Breast Cancer Therapeutics Market Competitive Landscape
The prominent players operating in the global breast cancer therapeutics market are:
Breast Cancer Therapeutics Market Strategic Developments
Breast cancer therapeutics refers to the various medical treatments and interventions designed to diagnose, manage, and treat breast cancer. Breast cancer is a type of cancer that begins in the cells of the breast, and therapeutic approaches aim to control or eliminate the cancerous cells, prevent the spread of the disease, and improve the overall well-being and survival of individuals diagnosed with breast cancer.
Asia Pacific can be considered the key growth region due to the surge in breast cancer therapeutics industry trends in China, Japan, and the Indian subcontinent.
The prominent players operating in the global breast cancer therapeutics market are Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc, AstraZeneca Plc, Merck & Co., Inc., Eli Lilly and Company, Janssen Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., AbbVie Inc., and Celldex Therapeutics.
The estimated size of the global breast cancer therapeutics market in 2032 is US$ 72.53 billion.
The global breast cancer therapeutics market growth is estimated to grow at a revenue CAGR of 9.8% during the forecast period from 2024 to 2032.
Table of Content
*Insights on financial performance are subject to the availability of information in the public domain
List of Tables
List of Figures