Breast cancer occurs when breast cells begin to grow uncontrollably and create a mass of tissue known as a tumor. Similar to other cancers, it can expand into the tissues that surround the breast & also to other body parts while forming new tumors.
There are different forms of breast cancer, and each depends upon the area where the tumor is growing. As the disease is increasingly becoming common across different corners of the world, medical science is also developing rapidly and offering adequate and reliable diagnosis & treatment for the same.
The Global Breast Cancer Market is projected to grow at a CAGR of around 8.6% during the forecast period, i.e., 2022-27. The growth of the market would be driven primarily by the increasing prevalence of breast cancer worldwide, coupled with the dire need for adequate & efficient treatment for the same. Besides, the active participation of the leading players & the massive support of governments of different countries through investments in the research & development activities and favorable policies for clinical trials of drugs are other prominent aspects contributing to the market expansion globally.
These trends, coupled with the introduction of advanced therapeutics by the leading biopharma companies, are set to boost the Global Breast Cancer Market through 2027. Furthermore, growing public awareness about breast cancer & its severity through various campaigns, advertisements, etc., is instigating cancer screening tests as a precautionary step and, in turn, projecting lucrative prospects for the global market over the forecast years.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico|
|Europe: Germany, The UK, Germany, France, Italy, Spain, Rest of Europe|
|Asia-Pacific: China, Japan, India, Australia, South East Asia, Rest of Asia-Pacific|
|South America: Brazil, Rest of Latin America|
|Middle East & Africa: South Africa, GCC, Rest of Middle East & Africa|
|Key Companies Profiled||
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., Sanofi S.A., Others
|Unit Denominations||USD Million/Billion|
Based on Treatment:
Here, targeted therapy acquired the largest share in the Global Breast Cancer Market in previous years, and the same trend is anticipated during 2022-27. It attributes primarily to its higher success rates than other treatments, i.e., leading to its greater preference as a treatment for breast cancer patients across both emerging & developed countries.
Besides, the growing public awareness about the benefits of targeted therapies, like the flexibility to be combined with other therapeutics, is another prominent aspect instigating their demand globally. Targeted therapy drugs like Trastuzumab, Pertuzumab, Neratinib, & Abemaciclib, among others, only target the breast cancer cells that either destroy them or slow down their growth.
Targeted therapy drugs enter the bloodstream & reach almost all areas of the body, and eliminate the spread of cancer to distant body parts. Moreover, these therapies even work on patients when chemo drugs fail to reduce or cure the illness. Hence, due to these advantages of targeted therapy, its demand is elevating swiftly worldwide and augmenting the overall growth of the Global Breast Cancer Market.
Based on the End-User:
Here, Hospitals are anticipated to dominate the Global Breast Cancer Market with the largest share during the forecast period. It owes principally to the growing focus of the governments of different countries on the development of the healthcare infrastructure, demonstrating a swift rise in the construction of numerous hospitals and even specialized hospitals for cancer treatment. It, in turn, is augmenting the need for diagnosis equipment & therapy drugs associated with various cancers, including breast cancer, and driving the market.
In addition, as hospitals rely heavily on the stocks at hospital pharmacies, the procurement of drugs is escalating swiftly to meet the burgeoning demands and augment the market growth. This aspect is also generating growth opportunities for the leading players to increase their development & distribution capacities to cater to the needs of equipment & drugs in hospitals across different countries and augment the Global Breast Cancer Market growth through 2027.