Global Breast Cancer Treatment Market Projected to Reach USD 34.06 Billion by 2026

21-Apr-2021 | Facts and Factors

As per the report published by Facts and Factors, the global breast cancer market was valued at approximately USD 19.24 Billion in 2019, and the market is expected to generate revenue of around USD 34.06 Billion by end of 2026, growing at a CAGR of around 8.5% between 2020 and 2026.

Post diagnosis, cancer therapy requires different procedures depending upon the form and severity of cancer. The cancer care market is increasing at a substantial pace due to the rise in the occurrence of cancer cases, growing knowledge among people about different stages, and availability of treatment of cancer. Breast cancer treatment relies on different factors, such as breast cancer origin, tumor size, and breast cancer phase, and cancer grade. Operations, radiation therapy, chemotherapy, hormone therapy, targeted therapy, and bone-led therapy are some of the most popular approaches used in the management of breast cancer. In 2012, breast cancer accounted for 11.9% of the estimated cases of cancer recorded and resulting in 5.22,000 deaths worldwide, according to GLOBOCA, a program of the World Health Organisation, which examined the frequency, death, and prevalence of important forms of cancer in countries.

It is anticipated that the status of breast cancer as one of the world's most prevalent cancers is a major driver of the global market. With the diagnosis of breast cancer in patients worldwide, the patient's need for precise and timely care remains unrivaled. In addition, the clear pattern of continuing research and development by key players in breast cancer therapy will lead to the introduction in the coming years of advanced treatment. This trend towards new, innovative treatments such as personalized therapies and immunotherapies is projected to significantly boost global growth in the forecast period in both developed and emerging regions.

Top Market Players

The key players in the breast cancer treatments market are Teva Pharmaceuticals, Pfizer Inc, Novartis AG, Myan Laboratories, Hikma Pharmaceuticals, Halozyme Inc, GlaxoSmithKline, Genentech, FRESENIUS KABI, Eli Lilly and Company, Eisai Co. Ltd, Celltrion, Bristol-Myers Squibb, Baxter Healthcare Corporation, and AstraZeneca among others.

Increasing breast cancer, higher R&D spending, and progress in cancer biology

The rising burden of breast cancer, higher R&D spending, progress in cancer biology, and pharmacology fostering drug discovery are some factors projected to drive market growth. Globocan estimated that about 2 261 419 new cancer cases worldwide were reported by 2020, accounting for approximately 11.7% of the existing cancer cases.

Besides, the increased number of breast cancer therapy-associated clinical studies during the provisioning timeframe stimulated business demand. As an example, Lemur tyrosine kinase 3 (LMTK 3) has been identified as having an essential role in cell proliferation in breast cancer by University of Sussex researchers in November 2020. Also, the studies on LMTK3 related medicines will be furthered. Such advances could provide greater possibilities for breast cancer care. Thus the demand growth over the projected timeframe is likely to intensify.

Several unsatisfactory patient needs for cancer care have stimulated research and development in breast cancer treatment. The global breast cancer care demand is driven by several reasons, such as increased cancer incidence, increasing political participation, and increasing support from numerous government and non-government organizations. Moreover, the worldwide breast cancer industry is driven by an ethical embrace of multiple therapies, such as radiation therapy, hormone therapy, and others for cancer and increasing populations of DNA vaccines. However, the global breast cancer therapy industry is restricted by lower visibility and high costs.

Innovative, improved successful therapy could provide a fair chance for the breast cancer industry. Innovation is projected to offer Moreover, amid the high costs of R&D; there has been renewed investment in this sector by pharmaceutical firms. The demand for breast cancer care is projected to deliver the positive promise.

COVID-19 Impact on the Global Breast Cancer Treatment Market

The COVID-19 pandemic is anticipated to have both good and negative consequences for the pharmaceutical industry. During the early stages of the pandemic, some countries have enforced stringent national lockouts to prevent the transmission of coronavirus. This leads to a significant detrimental effect on the healthcare system, as patients' flow to the treatment environment has significantly decreased. Also, the effect was strengthened when certain rules indicated that non-essential or elective surgical treatments would be deferred or canceled. The COVID-19 pandemic has a small influence on this global market as it is a life-saving therapy for some patients. Simultaneously, there were certain consequences, such as limited progress, as proceedings were delayed until later in certain situations. Therefore, because of the COVID-19 pandemic, the world economy saw limited to limited growth.

The elective process was delayed until the mid COVID-19 saw a decrease in revenue. The COVID-19 pandemic has had a major impact on the demand for optional medical equipment. With COVID-19 cases worldwide growing alarmingly, countries have mostly shut down their manufacturing plants that have negatively impacted producers of medical devices. Under an article from Mondaq, medical factories are heavily dependent on China to buy important components, raw materials, and complex medical products. China is the fourth-largest supplier of medical technology in the United States. However, the closure of Chinese facilities could instantly affect the industry.

According to the study published by CBC News, the costs of re-opening clinics after COVID-19, as practices would obey stricter regulations and legislation that in turn could lead to an increase in fees. However, with the rejections of COVID-19 and with expectations of the introduction of good consumer vaccines, hospitals are probably going to start preparing elective operations based on their admission capability and patient comfort.

North America Region Dominates the Global Breast Cancer Treatment Market

The world demand for breast cancer care is dominated by North America, followed by Europe. This is because the rate of cancer cases and the technical progress in the field is growing. Increasing patient groups, increasing government policies, rising economies, and healthcare standards are expected to be a cause for Asia's strong growth in the breast cancer industry. Increased R&D spending, massive patient population, and increased government support is a major driving force on the breast cancer industry in developing countries.

Browse the full “Breast Cancer Treatment Market, By Types (Invasive Lobular Carcinoma, Invasive Ductal Carcinoma, and Others), By Treatment (Surgery & Radiation Therapy, Targeted Therapy, Chemotherapy, Biologic Therapy, and Hormone Therapy), End Users (Private Pharmacies, and Hospital Pharmacies): Global and Regional Industry Perspectives, Comprehensive Analysis, and Forecasts, 2020 – 2026” report at https://www.fnfresearch.com/breast-cancer-treatment-market.

Report Scope

The global Breast Cancer Treatment market is segmented as follows:

By Types:

• Invasive Lobular Carcinoma
• Invasive Ductal Carcinoma
• Others

By Treatment:

• Surgery & Radiation Therapy
• Targeted Therapy
• Chemotherapy
• Biologic Therapy
• Hormone Therapy

By End Users:

• Private Pharmacies
• Hospital Pharmacies

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com