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Breast Cancer Therapeutics Market - By Therapy (Targeted Therapy, Hormonal Therapy, Chemotherapy, Immunotherapy), Global Forecast, 2023-2032
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Breast Cancer Therapeutics Market
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Base Year: 2022
Companies covered: 11
Tables & Figures: 86
Countries covered: 19
Pages: 90
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Breast Cancer Therapeutics Market Size
Breast Cancer Therapeutics Market size was around USD 26.7 billion in 2022 and is expected to reach USD 54.7 billion by 2032. The growing incidence of breast cancer is amongst the major factors stimulating the market growth.
According to the International Agency for Research on Cancer (WHO), in 2021, the incidence of breast cancer was more than 2.2 million, accounting for approximately 11.7% of the total cancer cases globally. Further, the disease accounted for 684,996 mortalities in 2020. Thus, the high incidence and mortality rate associated with breast cancer is expected to render significant impact, driving the market progress.
Breast cancer therapeutics can be defined as the treatment or management of breast cancer using therapeutic approach & drugs such as chemotherapy, radiation therapy, hormone therapy, targeted therapy, and immunotherapy. These oncology drugs/therapeutics abduct the growth and multiplication of cancerous cells by disrupting certain proteins or DNA.
COVID-19 Impact
The coronavirus outbreak has disrupted the global economy, inflicting economic burden and financial adversities. Many sectors have witnessed drastic transition including the healthcare sector. Hospital admissions regarding COVID-19 affected patients were prioritized, with other medical procedures postponed. According to the National Centers for Biotechnology Information (NCBI) article, in 2021, the COVID-19 pandemic caused delays in the screening and treatment of breast cancer patients owing to fear of infection and lockdown. The study reported a 15% drop in breast cancer patients admitted during the coronavirus outbreak. As a result, the market witnessed slow growth owing to delayed breast cancer diagnosis and treatment, although the industry is expected to follow the growth trajectory in the coming years.
Breast Cancer Therapeutics Market Trends
Initiation of breast cancer awareness and screening programs by the regional government authorities to curb the mortality rates associated with breast cancer is anticipated to prove conducive for the market expansion.
Breast Cancer Therapeutics Market Analysis
Based on therapy type, the market is segmented into targeted therapy, hormonal therapy, chemotherapy and immunotherapy. The targeted therapy segment exceeded USD 19 Billion in 2022 anticipating a substantial growth in coming years. This substantial market dominance is attributed to its adaptability for combination with other treatments, the emergence of personalized approaches to enhance clinical outcomes, and continuous advancements.
The North America breast cancer therapeutics market is expected to grow at 6.8% during the analysis period.
Breast Cancer Therapeutics Market Share
The players operating in this market have established themselves through continuous research & development and ensuring high-quality products. Pfizer, Bristol Myer Squibb, Amgen, F-Hoffmann La Roche, and Merck account for significant market share in the overall breast cancer therapeutics. The leading companies are making substantial investments in product improvements while giving priority to competitive pricing as a strategic approach, anticipating remarkable market expansion.
Market players operating in the breast cancer therapeutics is as mentioned below:
Breast Cancer Therapeutics Industry News:
The breast cancer therapeutics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Therapy 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries: