GLOBAL BREAST CANCER MARKET (2024 - 2030)

The Breast Cancer Market was valued at USD 10.73 billion in 2023 and is projected to reach a market size of USD 11.58 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 1.1%. 

Key Market Insights:

Chemo and radiation therapy are the most popular breast cancer treatments. The market for targeted therapies and immunotherapies is growing fast as they are more effective and have fewer side effects. New technologies that can detect breast cancer earlier and more accurately are driving the market for breast cancer diagnostics. Increased demand for breast cancer screening and diagnostic tests is a result of this. The market for breast cancer supportive care products is growing as more women are living with the disease. There are products such as wigs and compression garments. The market for breast cancer treatment is expected to grow. The increasing prevalence of breast cancer in emerging markets is expected to boost the growth of the market.

The breast cancer market has a wide range of players, including pharmaceutical companies, medical device companies, and healthcare providers. New products and services are being developed by these companies to meet the needs of patients with breast cancer. Pricing and availability of breast cancer treatments can be impacted by several regulatory and reimbursement challenges.

Breast cancer is the most common cancer in women worldwide, accounting for 11%.

By 2032, the global breast cancer market is expected to grow at a CAGR of 10%.

Chemo and radiation therapy are the most popular breast cancer treatments.

The market for ta)rgeted therapies and immunotherapies is growing fast as they are more effective and have fewer side effects.

Breast Cancer Market Drivers:

The growing prevalence of breast cancer is driving the global market:

The global breast cancer market is influenced by the rising prevalence of breast cancer. According to the World Health Organization (WHO), Organization, thousands of new cases are diagnosed each day. Changing lifestyle patterns and the aging population have contributed to the rising incidence of breast cancer. As the population ages, the risk of developing breast cancer increases, further intensifying the demand for effective treatment options. Extensive research and development efforts by pharmaceutical companies and research institutions have been spurred by the surge in breast cancer cases.

Medical technology and personalized medicine have improved the status of the global breast cancer market.

A new era in the management of breast cancer has been created by the advancement of medical technology and personalized medicine. Early detection and accurate diagnosis of breast cancer is possible thanks to the evolution of diagnostic tools. The chances of detecting breast cancer at its early stages have been improved by the use of transvaginal ultrasounds, and magnetic resonance images.

Implementation of favorable reimbursement policies is augmenting market growth:

Favorable reimbursement policies and the expansion of healthcare infrastructure have led to the growth of the breast cancer market. Governments and healthcare authorities in various countries are increasing their investment in healthcare facilities. Improved patient access to healthcare services, diagnosis, and treatment for breast cancer is a result of this development.

The financial burden on patients seeking cancer treatments has been alleviated by favorable reimbursement policies. Treatment has become more affordable and accessible due to reimbursement support for diagnostic tests, surgeries, and targeted therapies.

The increasing governmental investment in medical infrastructure and maintenance is fuelling the Breast Cancer Market growth.

Increasing governmental investment in medical infrastructure and maintenance is driving the growth of the Breast Cancer market. Improved diagnosis and treatment options, expanded access to care, enhanced patient support systems, increased public awareness, and the promotion of precision medicine are some of the positive outcomes of these investments. As a result of these factors, the breast cancer market is expected to continue to grow, with new and more effective treatments being developed to combat this challenging disease.

Breast Cancer Market Restraints and Challenges:

The cost of breast cancer treatment can make it difficult for patients in low- and middle-income countries. The growth of the global breast cancer market may be affected by this. In low- and middle-income countries, limited access to healthcare facilities can limit the early detection of breast cancer.

The demand for breast cancer diagnosis and treatment can be affected by this. Conventional breast cancer treatment may not be the best option for some patients.  This can affect the growth of the global breast cancer market.

There are a limited number of effective therapies for Breast Cancer. The majority of patients will eventually relapse, and there are few options available for second-line and third-line treatment.

It is more difficult to treat breast cancer at a late stage. There is not enough awareness about the symptoms of breast cancer and the importance of early detection.

BREAST CANCER MARKET REPORT COVERAGE:

Breast Cancer Market Segmentation:

Market Segmentation: By Cancer Type

• Hormone Therapy
• HER 2+
• Triple-Negative Breast Cancer
• Others

This is the most common type of breast cancer, accounting for 70% of all cases. HR+ breast cancers can be treated with hormone therapy if they have estrogen and/or progesterone receptors. Breast Cancer HER2 positive about 15-20% of breast cancers are this type. HER2-positive breast cancer can be made more aggressive by over-expression of the HER2 protein. They are more responsive to targeted therapies.

TNBC is a type of breast cancer. 15% of breast cancers are this type. TNBC doesn't have the three main targets for therapy. Estradiol and HER2 are hormones. New treatments are being developed for patients with TNBC.

Market Segmentation: By Therapy

• Targeted therapy
• Hormonal therapy
• Chemotherapy
• Immunotherapy

Targeted therapies are drugs or other agents that specifically target the signaling pathways that drive cancer growth and progression. The therapies offer a more precise approach to cancer treatment, which can harm both healthy and cancer cells. They are the most dominant segment by therapy and are anticipated to hold dominance during the forecast period as well.

Hormonal therapy is used to treat breast cancer.  Hormonal therapy can help to prevent breast cancer from growing by blocking the effects of hormones.

Drugs are used to kill cancer cells.  Chemotherapy is a treatment that travels throughout the body and can affect both healthy and cancer cells. Chemotherapy has a variety of side effects. It is an effective treatment at the later stage of cancer.

The immune system can fight cancer. The treatment of breast cancer has been greatly improved by the use of a class of immunotherapy drugs. The drugs block the immune system from attacking cancer cells. Keytruda and atezolizumab are examples of checkpoint inhibitors used in breast cancer treatment.

Market Segmentation: By Distribution Channel:

• Hospitals
• Clinics
• Pharmacy
• Online Pharmacy

Hospitals account for 40% of the market. Clinics and ambulatory surgical centers have 25% and 20% of the market share. Pharmacy chains and online pharmacies make up 15% of the market. 25% of the market is devoted to clinics for breast cancer care. Clinics can provide a range of breast cancer services, including diagnostic testing, screening, and treatment, and they are often more convenient and affordable than hospitals. 10% of the market for breast cancer drugs is supplied by pharmacy chains.  Pharmacy chains offer a convenient way for patients to fill their prescriptions, and they can provide counseling and support to patients.       

Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

North American region dominated the Breast Cancer Market with a revenue of 40% in 2023. The region has a well-developed healthcare infrastructure and advanced medical facilities, which allow early diagnosis and treatment of breast cancer. Increased awareness among patients has led to increased screening and detection rates. Many pharmaceutical companies, research institutions, and academic centers are located in North America. There will be 281,500 new cases of breast cancer in the United States in the next five years.

According to the American Cancer Society, 44,330 women will die from breast cancer in the US in the next five years. Thanks to advances in early detection and treatment, this number has been decreasing over the past few decades.

COVID-19 Impact Analysis on the Breast Cancer Market:

The global economy has been disrupted by the coronavirus outbreak. The healthcare sector has seen a drastic transition.

Other medical procedures were delayed due to the priority given to COVID-19-affected patients. The COVID-19 Pandemic caused delays in the screening and treatment of breast cancer patients due to fear of infections.

There was a 15% drop in breast cancer patients in the study. Slow growth can be attributed to delayed breast cancer diagnosis and treatment, although the industry is expected to follow the growth trajectory in the coming years.

Latest Trends/ Developments:

Individualized medicine and precision cancer. Different types of breast cancer have different characteristics and respond differently to treatment. Individualized medicine approaches aim to tailor treatment strategies to the individual patient's tumor characteristics, increasing the likelihood of effective therapy and minimizing adverse effects.  Genomic and proteomic profiling can be used to identify genes that can be used to guide treatment decisions.

Key Players:

• Bristol Myers Squibb Co.
• Kyowa Kirin,
• Eisai Co. Ltd,
• Sanofi,
• Pfizer Inc,
• Merck & Co,
• Novartis AG,
• Eli Lilly and Company,
• Genentech, Mylan Laboratories
• In September 2022, in a cohort of patients with aggressive styles of hormone receptor-advantageous, human epidermal boom element receptor-2 terrible (HR+/HER2-) metastatic breast cancer, Novartis registered findings from a brand new pooled exploratory analysis across the entire MONALEESA Phase III observe, indicating roughly an additional year of common survival (OS) advantage (ABC).
• In August 2022, The FDA approved Enhertu for the treatment of individuals with HER2- low breast cancer that cannot be removed. This is one of the first therapies approved for patients with a new type of breast cancer.