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$28 Bn by 2024| Breast Cancer Therapeutics Market set to explode in the coming years

Author : Rahul Sankrityayan | Published Date : 2019-04-12 

The Breast Cancer Therapeutics Market is set to exceed USD 28 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing awareness regarding breast cancer, rising shift towards adoption of western lifestyle, short breast-feeding timeframe and rising prevalence of obesity in women after menopause will drive the industry size. Increasing rate of alcohol consumption in women, rising use of hormone replacement therapy (HRT) and oral birth control pills resulting in increased levels of oestrogen will boost the business size over the forecast period. Growing exposure to certain carcinogens and endocrine disruptors, for example in the workplace, working night shifts results in increased risk are surging up the Breast Cancer Therapeutics Market.

Rising prevalence of breast cancer pertaining to factors such as prolonged exposure to endogenous oestrogens, early menarche, late age at first childbirth and late menopause will be a high impact rendering factor for the industry growth. Increasing technological advances in cancer biology and launch of several diagnostic and screening programs worldwide should drive the Breast Cancer Therapeutics Market size. Growing adoption of therapeutics owing to factors such as blocking estrogenic from binding to tumour cells, risk of distant reappearance, lowering jeopardy of reappearance in the breast that had tumour and reducing risk of developing disease in another breast will propel the industry growth.

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Targeted drug therapy market is estimated to witness significant growth at 10.3% over the forecast period owing to factors such as their structure that is deliberately designed to interact with their target and search for specific molecular targets that are associated with cancer. Growing focus of much anticancer drug development on targeted therapies will drive the augmented demand for these products.
Hormone drugs market was valued around USD 3,292.4 million in the year 2018. Features such as affecting the activities of tissues and cells at numerous sites in the body, frequently reaching their targets through bloodstream will drive the segment growth. Moreover, slowing or stopping the development of hormone-sensitive tumors by interfering with effects of hormones on breast cancer cells or by blocking the body’s capability to produce hormones will offer significant segment growth opportunity.

In terms of commercialization potential of the industry, Global Market Insights, Inc., estimates breast cancer therapeutics market size to surpass a valuation of USD 28 billion by the end of  2024, with a projected CAGR of 9% over 2017-2024. In this regard, geographically, U.S. is anticipated to contribute noticeably toward the global share in the coming years, primarily backed by the large patient pool affected with breast cancer in the region. A latest report put forth by the American Cancer Society, claims that U.S. will witness 63410 cases of carcinoma in situ (CIS) and 252,710 cases of invasive breast cancer in women in 2017. The report further affirms that approximately 40,610 women fatalities are likely to occur from breast cancer this year.

The tremendous upsurge in the incidence of breast cancer has indeed upscaled the requirement for upgraded breast cancer treatment, leaving a significant impact on regional breast cancer therapeutics industry share.  As per estimates, U.S. accounted for a sizable portion of the overall market in 2016, and considering the increasing R&D funding through public and private sector, the region is slated to remain one of the profound participants of global breast cancer therapeutics market in the years ahead.

Of late, the expanding healthcare space is blazed with a plethora of innovations brought forth by renowned giants who are relentlessly attempting to effectuate merchandizing of novel drugs that prove to be extremely beneficial for the patients - a trend that has phenomenally triggered product developments in breast cancer therapeutics industry. As per a recent news snippet, researchers of Massachusetts Institute of Technology have unveiled an AI-based breast cancer therapeutic model that is claimed to detect breast cancer in a much more efficient and accurate manner. Reportedly, scholars of MIT’s Computer Science and Artificial Intelligence Laboratory in collaboration with Massachusetts General Hospital in Boston have integrated machine learning in the new model design. Allegedly, this is one of the biggest scoops in breast cancer therapeutics market in recent times.

Speaking of product landscape of breast cancer therapeutics industry, target drug therapy market is forecast to record remarkable proceeds over the forthcoming years, subject to a plethora of driving factors - inclination toward specific actionable target oriented drugs, growing research on specific molecular targets linked with cancer, and increasing anticancer drug development on targeted therapies. Estimates depict, targeted drug therapy accounted for a major portion of breast cancer therapeutics industry share in 2016.  Hormone drugs segment is another product domain which of late, has been witnessing an increasing popularity.  Endorsed with a number of beneficiary features such as affecting the activities of cells and tissues at different locations of the body and fast reaching at targets through bloodstream, breast cancer therapeutics market from hormone drugs is slated to carve a profitable roadmap in the coming seven years.

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Some of the companies operating in breast cancer therapeutics market are Roche Diagnostics, Pfizer, AstraZeneca, Novartis, Sanofi, Eisai, and Eli Lily. New product launches, strong product pipeline, geographical expansion, mergers and acquisition will mainly boost the business. Chief industry players will endeavor to strengthen their place in this competitive market by implementation these strategies.

Breast Cancer Therapeutics Market by Product

Hormone Drugs
Chemotherapy Drugs
Targeted Drug Therapy

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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