A recent research report by MarkNtel Advisors cites that the Global Breast Cancer Market would register around 8.6% CAGR during 2022-27. It owes to the growing population suffering from breast cancer and their elevating demand for its efficient treatment, i.e., demonstrating the active participation of various biopharma companies in the research & development of reliable diagnoses & therapies for breast cancer.
Besides, mounting support from governments of different countries through favorable policies for clinical trials of drugs & their participation in spreading awareness among people about breast cancer through campaigns, advertisements, etc., are also contributing to the expansion of the market.
Furthermore, rising concerns over breast cancers are instigating the people to undergo cancer screening tests as a precautionary step, which is another prominent aspect contributing to the market expansion, further states the research report, “Global Breast Cancer Market Analysis, 2022.”
Mounting Need for Targeted Therapies owing to Higher Success Rates Boosts the Global Market
Targeted therapy drugs for breast cancer include Trastuzumab, Neratinib, Abemaciclib, & Pertuzumab. These drugs enter the bloodstream & reach almost all areas of the body and eliminate the spread of cancer to distant body parts either by killing the cancer cells or reducing their growth.
More & more people are becoming aware of the benefits of these therapies, like their ability to be used in combination with other therapeutic drugs, and thus have a greater preference for the same. Hence, with a higher OS (overall success) rate & efficacy in the treatment of breast cancer patients, targeted therapies are set to dominate the global breast cancer market through 2027.
With the Extensive Presence of Leading Biotech & Pharma Companies, North America to Lead the Breast Cancer Market
North America exhibits the largest count of breast cancer patients, owing to which the demand for their diagnoses & treatments is maximum across the region. Countries like the US & Canada are home to the world's leading biopharma firms who are actively working toward developing advanced & affordable breast cancer treatments.
Moreover, governments of these countries are substantially investing in expanding & upgrading the healthcare infrastructure, especially in the field of oncology, in order to cater to various needs of patients & attract medical tourism in the region. Hence, these aspects are likely to lead North America to dominate the Breast Cancer Market during 2022-27.
The leading players in the Global Breast Cancer Market include AstraZeneca PLC, Bristol Myers Squibb, Eisai Co. Ltd., Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co., Inc., Novartis International AG, Pfizer Inc., and Sanofi S.A.
Key Questions Answered in the Research Report