The breast cancer therapeutics market is forecasted to experience substantial growth on account of growing prevalence of breast cancer across developed economies around the world. Earlier in 2017, nearly 252,710 new cases of invasive and over 63,410 new cases of non-invasive breast cancer were expected to be detected among women in the United States. Shifting inclination towards sedentary lifestyle across emerging countries could contribute to increased cases of breast cancer.
With rapid technological advancement in the medical sector, the breast cancer industry could register noteworthy growth. Over the years, there have been several advancements in early diagnosis of breast cancer, one such being MammoSite, a form of radiation therapy where radiation is delivered through a balloon internally to the region where the chances of cancer recurrence are most high.
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The high cost of the breast cancer therapies can be accounted as a major impeding factor for the breast cancer drug industry as the treatment costs are higher for patients who are not covered by insurance. As per studies, non-insured cancer patients pay approximately twice the price for doctors' visits and about 43 times additional price for chemotherapy drugs in comparison to Medicare and private insurance pays.
The targeted drug therapy market was estimated at around USD 11.6 billion in 2018 and recorded majority market share. Recent technological advancements have stirred the growing demand for effective breast cancer treatment along with a rise in R&D investments for the development of effective targeted therapies.
The retail pharmacy distributions channel segment in breast cancer therapeutics industry is anticipated to showcase a 9.7% CAGR up to 2025. Shift from specialty to retail pharmacies due to prolonged usage of oral formulations and reimbursement specifically for targeted drug therapies will further boost the industry trends.
Germany is set to dominate the Europe breast cancer therapeutics market, recording notable growth during the analysis period. In 2018, the regional market was valued at almost USD 1,318.2 million. Rising expenditure on healthcare could boost demand for cancer therapeutics in the region. Germany is one of the countries in the EU that spends the most on healthcare. Robust healthcare spending could help lower the cost burden on breast cancer treatments.
Estimates suggest that global breast cancer therapeutics market size will surpass USD 30.64 billion in annual value by 2025. Some of the industry players providing breast cancer therapeutic products include Roche Diagnostics, Novartis, AstraZeneca, Eisai, Celgene, Pfizer, Sanofi, Eli Lilly, MAQUET, Breas Medical, and Drager. Expansion of brand presence and revenue sources along with the introduction of devices in emerging economies, offered by these companies to cater to the demands, will foster the increased production post the COVID-19 outbreak.
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Partial Chapter of the Table of Content
Chapter 4. Breast Cancer Therapeutics Market, By Product
4.1. Global breast cancer therapeutics market share by product, 2018 & 2025
4.2. Hormone drugs
4.2.1. Market size, by region, 2014 – 2025 (USD Million)
4.3. Chemotherapy drugs
4.3.1. Market size, by region, 2014 – 2025 (USD Million)
4.4. Targeted drug therapy
4.4.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 5. Breast cancer therapeutics Market, By Distribution channel
5.1. Global breast cancer therapeutics market share by distribution channel, 2018 & 2025
5.2.1. Market size, by region, 2014 – 2025 (USD Million)
5.3. Ambulatory Surgical Centers
5.3.1. Market size, by region, 2014 – 2025 (USD Million)
5.4.1. Market size, by region, 2014 – 2025 (USD Million)
5.5.1. Market size, by region, 2014 – 2025 (USD Million)
5.6. Retail pharmacies
5.6.1. Market size, by region, 2014 – 2025 (USD Million)
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