Global Breast Cancer Therapy Market - Segmented by Therapy and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global breast cancer therapy market is expected to register a CAGR of 8.5% during the forecast period 2018 - 2023. Breast cancer is a cancerous manifestation of the breast tissue, and breast cancer is the most common type of cancer among women across the world. The high incidence rate of breast cancer is now becoming a concern, and several pharmaceutical companies are increasingly investing in research on breast cancer. Thus, the market is expected to grow.
High Incidence and Prevalence Rate of Breast Cancer Worldwide
Breast cancer is known to be the most common form of cancer in women, around the world. It is a common misconception that breast cancer is regarded as a disease of the developed world. Statistics say that around 50% of breast cancer cases and more than 58% of deaths occur in less developed countries. The National Cancer Institute has estimated that 246,660 cases of breast cancer were diagnosed in 2016. The high incidence and prevalence rate show that the breast cancer therapeutics market will boost over the forecast period. Today, increasing number of countries are adopting early cancer detection programs, around the world. If these initiatives continue, the demand for breast cancer therapeutics is bound to increase, with most of the cases being detected in the early stages. Along with the other factors, such as high investments on R&D, and the advancements in cancer biology and pharmacology promoting drug development, are driving the market.
Risk of Adverse Effects of Radiation Exposure
Radiation plays an important role in the treatment of breast cancer, especially in the later stages of diagnosis, by destroying cancer cells in the breast that may stick around after surgery. However, radiation therapy is not always good for one’s health. Extended exposure to radio waves can cause adverse side effects to the patient. Exposure to radiations can have varying effects, depending on the levels of radiation the patient is exposed to. Internal exposure can sometimes cause deposition of certain elements in bones or organs. For acute exposures, initial physical effects can be seen at around 25-50 rem. Radiations, as strong as 150-350 rem, can cause nausea, fatigue, and skin reddening. These adverse effects of radiation are decreasing the market, as it is creating fear among people. High competition among the market players is impacting the growth of the breast cancer therapy market.
North America to Dominate the Market
North America dominates the market for breast cancer therapy, due to the fact that the prevalence of breast cancer is on the rise in this region, along with an increase in R&D funding through public and private sectors. Asia-Pacific region is expected to grow at a significant pace, over the forecast period.
Key Developments in the Market
January 2018: U.S. FDA approved expanded use of AstraZeneca cancer drug, Lynparza.
November 2017: Bayer signed a partnership with cancer drug maker Loxo.
Major Players: ASTRAZENECA, BAYER, BECKMAN COULTER, BRISTOL MYER SQUIBB, EISAI, MERCK & CO., NOVARTIS, NOVOCURE, PFIZER, AND ROCHE, amongst others.
Reasons to Purchase the Report
Current and future market outlook for breast cancer therapy in the developed and emerging markets
Analyze various perspectives on the market, with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth, during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support, along with the market estimate sheet (in excel).
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