Acknowledging its growing popularity and the market growth, Market Research Future, recently published a study report – The Global Breast Cancer Market. Which indicates that the Market is booming and estimated to gain further prominence over the forecast period. Further MRFR asserts that the Market will demonstrate a massive growth by 2023, phenomenally superseding its previous growth records in terms of value with a whooping CAGR during the anticipated period (2017 – 2023).
The Market is forecasted to account for upsurge accretions by 2023 with a staggering CAGR of 9.2% during 2017 and 2023.
Market Research Future published new report, titled “Breast Cancer Market–Research Report: Global Forecast till 2023”.
Pfizer (US), Novartis AG (Switzerland), Oncogenex (US), Apthera Inc. (UK), BioNumerik Pharmaceuticals (US), Oncothyreon Inc. (US), Astellas (Japan), Bipar Sciences (US), Puma Biotechnology (US), Sanofi S.A. (US), Eli Lilly and Company (US), AstraZeneca (UK), F. Hoffmann-La Roche (Switzerland), GlaxoSmithKline (UK), Genentech (US), Teva Pharmaceutical Industries (Israel), Sun Pharmaceutical Industries Ltd (India), Accord Healthcare, Inc. (India), Gilead Sciences, Inc. (US), Bristol-Myers Squibb company (US), Actavis, Inc. (US), Hospira, Inc. (US), and Bayer AG (Germany) are some of the prominent players profiled in MRFR Analysis and are competing in the Global Breast Cancer Market
Breast Cancer Market – Overview
The Breast Cancer market is accruing and expected to gain further prominence over the forecast period mainly due to the growing prevalence of the disease, technological advancements and availability of effective treatments. According to a recent study report published by the Market Research Future, The global market of Breast Cancer is projected to accrue at a rapid pace during the forecast period (2017 – 2023).
Brest cancer is a type of a cancer developed in breast tissue. Formation of lump in a breast, red patches on the skin are some of the common symptoms of the breast cancer. Obesity, lack of physical exercise, overexposure to radiation and drinking alcohol are some of the risk factor for developing breast cancer. According to WHO, it is the second most common type of cancer in women. Every year 200,000 new cases are diagnosed worldwide and this number is continuously increasing. Prevalence of breast cancer is more common in developed countries compared to developing countries. Increasing number of females suffering from breast cancer is the major factor for the growth of market. Beside this adoption of unhealthy lifestyle, increasing female geriatric population, exposure to harmful radiation and increasing governmental initiatives also contributed in the growth of the market. As no absolute treatment is available there is a scope for developing the market across the world. While on other hand high cost of the treatment, adverse effects associated with the therapy and long approval time for the drugs are responsible for restraining the growth of the market.
Breast cancer is the most commonly occurring segment of cancer in women worldwide. The recent reports on cancer confirm the registration of 1.7 million cases of breast cancer. Women populace in the developed countries like U.S, U.K, and Australia are more prone to the breast cancer than in the developing countries. Factors such as lifestyle, age, heredity and also genetic mutations (abnormal changes) are responsible for developing a breast cancer. The high incidence rate worldwide is becoming a major concern and the pharmaceutical companies are increasingly investing in research on breast cancer.
Technology surrounding treatments for breast cancer improves the outlook for many women diagnosed, but the recovery is still challenging as survivors adjust to the scars that remain mentally and physically.
Availability of more medicines, new screening tools gaining traction in breast cancer treatment. The biggest change has been the approvals for treatments and available screening tools. Over the last few years, advent breast cancer treatments have hit the market. So the biggest thing that’s emerged in the last year that’s really impacted the treatment is approval of medications called CDK45 Inhibitors. When used in combination with endocrine therapy for patients with hormone-receptor positive breast cancer, the medications have shown improvements in survival – about 10 months. In addition to promising medications, 3-D digital tomosynthesis imaging has gained traction and became available. Mammography allows for a more clear view of the inside of a breast. It’s particularly useful to see through dense breast tissue. A signed bill into law that allows commercial insurance providers to cover breast screening, including 3-D mammography.
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Breast Cancer Market – Competitive Analysis
Characterized by the presence of several major players, having international recognition; the global market of Breast Cancer appears to be highly fragmented and competitive. Marketers compete based upon price and brand reinforcement. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.
Breast Cancer Market – Segments
The Breast Cancer Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Types: Comprises Invasive Ductal Carcinoma, Invasive Lobular Carcinoma and other.
Segmentation by Treatment: Comprises Chemotherapy (Antimetabolites, Anthracyclines, Taxanes & Alkylating Agents), Surgery & Radiation Therapy, Targeted Therapy (Tyrosine Kinase Inhibitors &Monoclonal Antibodies), Biologic Therapy, Hormone Therapy (selective estrogen-receptor modulators (SERMs), aromatase inhibitors) and other.
Segmentation by End Users: Comprises Hospital Pharmacies, Private Pharmacies and others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Chemotherapy accounts for the largest share of the market; i.e. 45%.
Breast Cancer Market – Regional Analysis
On regional basis, global breast cancer market is dominated by America. Changing lifestyle and increasing prevalence of breast cancer in America has driven the growth of the market. America breast cancer market is followed by Europe. Technological advances, increased life expectancy and healthcare expenditure of people is responsible for the growth of this market in America and Europe. Asia Pacific is expecting a fastest growth for the market.
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