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U.S. breast cancer therapeutics market to exhibit remarkable growth over 2017-2024, product innovations to outline the strategic landscape

Publisher : Fractovia | Published Date : 2017-11-02Request Sample

The way in which breast cancer therapeutics market has changed over the recent years is an intriguing aspect depicting the evolution and progress of research activities with regards to cancer treatment. Considering the incidence and casualty rate due to breast cancer worldwide, it is undeniable that the industry is on its way to witness commendable growth over the ensuing years. Statistically, breast cancer occurrence rate, of late, has observed an incredible surge, with an approximated figure of nearly 1.7 million new cases being diagnosed yearly. In fact, World Health Organization, in its updated report of 2015, claimed that breast cancer account for almost 520,000 casualties every year. These figures are itself a testament to the huge business opportunities that breast cancer therapeutics industry is likely to unfold in the coming years, with regards to effective therapeutic techniques that are relatively non-toxic and patient specific.

U.S. Breast Cancer Therapeutics Market, By Product, 2013 - 2024 (USD Billion)
U.S. Breast Cancer Therapeutics Market, By Product, 2013 - 2024 (USD Billion)


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.

Worldwide, breast cancer therapeutics industry seems to be pretty much competitive with the involvement of renowned giants like Roche Diagnostics, Eli Lilly, Novartis, Eisai, Celgene, AstraZeneca, Pfizer, and Sanofi. Product differentiation is one of the major growth strategies adopted by the market players to sustain in the competitive scenario. Ongoing advancements in clinical trials have led to the advent of novel therapeutic approaches that identify specific biological targets. Though as of now, only a fraction of the leading giants offers treatment for breast tumors, experts claim, breast cancer therapeutics market is certain to witness remarkable progression with regards to its product landscape in the coming years, characterized by the increasing participation of SMBs toward the development of outcome-based solutions.

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