USD 28.88 Billion
Breast Cancer Market Size, Share, Growth Analysis, By Cancer(Hormone Receptor-positive (HR+) and HER2-positive (HER2+)), By Distribution Channel(hospital pharmacies, retail pharmacies, online pharmacies, and other channels), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2186 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Breast Cancer Market Insights
Breast Cancer Market size was valued at USD 31.89 Billion in 2022 and is poised to grow from USD 35.22 Billion in 2023 to USD 77.88 Billion by 2031, at a CAGR of 10.43% during the forecast period (2024-2031).
The breast cancer market is driven by the increasing incidence of breast cancer cases globally. Factors such as lifestyle changes, hormonal imbalances, genetic predisposition, and aging population contribute to the rising number of breast cancer cases. This growing patient population necessitates the development of effective and innovative treatment options and diagnostic tools. Technological advancements play a crucial role in the growth of the breast cancer market. Novel diagnostic techniques, such as molecular imaging, genetic testing, and liquid biopsies, enable early detection and accurate diagnosis of breast cancer. Similarly, advancements in treatment modalities, including targeted therapies, immunotherapies, and precision medicine, have improved patient outcomes and survival rates. These advancements drive the demand for innovative products and therapies in the market.
Moreover, the increasing awareness of breast cancer and the importance of early detection among the general population have led to greater participation in screening programs and routine check-ups. Governments and healthcare organizations worldwide have implemented awareness campaigns to promote early detection, resulting in increased demand for screening and diagnostic procedures. Despite the growth prospects, the breast cancer market also faces several challenges. One significant challenge is the high cost associated with breast cancer treatment, including surgery, chemotherapy, radiation therapy, and targeted therapies. The financial burden on patients and healthcare systems can limit access to optimal treatment options, especially in resource-constrained settings.
Another challenge lies in the complexity and heterogeneity of breast cancer. Different subtypes of breast cancer exhibit varying responses to treatment, making personalized medicine and targeted therapies critical. However, identifying the most suitable treatment approach for each patient requires extensive molecular profiling and genetic testing, which can be time-consuming and costly. Additionally, there are ongoing challenges in breast cancer awareness and access to healthcare services, particularly in low-income regions and underserved populations. Limited access to screening programs, lack of awareness about early detection methods, and inadequate healthcare infrastructure hinder timely diagnosis and treatment initiation.
US Breast Cancer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
HR+
Fastest Growth
HR+
Growth Rate
10.43% CAGR
Global Breast Cancer Market ($ Bn)
Country Share for North America Region (%)
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Breast Cancer Market Segmental Analysis
The global breast cancer market is segmented on the basis of cancer, distribution channel, and region. By cancer, the market is segmented into Hormone Receptor-positive (HR+) and HER2-positive (HER2+) breast cancer. By distribution, the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and other channels. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Breast Cancer Market Analysis By Cancer Type
The global breast cancer market can be segmented based on the cancer type, with two significant subtypes being Hormone Receptor-positive (HR+) and HER2-positive (HER2+) breast cancer. Hormone Receptor-positive breast cancer represents a dominant segment in the market. HR+ breast cancer is characterized by the presence of hormone receptors, namely estrogen receptors (ER) and progesterone receptors (PR), on the surface of cancer cells. This subtype accounts for a significant proportion of breast cancer cases globally. Hormone receptor-positive breast cancer is often treated with endocrine therapies, such as selective estrogen receptor modulators (SERMs) or aromatase inhibitors (AIs), which target the hormonal pathways and suppress the growth of cancer cells. The dominance of HR+ breast cancer can be attributed to the high incidence rate and the availability of effective targeted therapies for this subtype.
HER2-positive breast cancer represents the fastest-growing segment in the global breast cancer market. HER2+ breast cancer is characterized by an overexpression of the human epidermal growth factor receptor 2 (HER2) protein on the surface of cancer cells. This subtype accounts for a substantial proportion of aggressive breast cancers. The rapid growth of HER2+ breast cancer is primarily due to advancements in targeted therapies specifically designed to inhibit HER2 signaling, such as HER2-targeted monoclonal antibodies (e.g., trastuzumab) and small molecule tyrosine kinase inhibitors (e.g., lapatinib). These therapies have shown significant efficacy in improving patient outcomes, leading to the increased adoption and growth of the HER2+ breast cancer segment.
Breast Cancer Market Analysis By Distribution Channel
The global breast cancer market can be segmented based on the distribution channel through which breast cancer drugs and treatments are made available to patients. The major distribution channels in this market include hospital pharmacies, retail pharmacies, online pharmacies, and other channels. Hospital pharmacies represent a dominant segment in the distribution of breast cancer treatments. These pharmacies are an integral part of the healthcare system and play a crucial role in providing medications and therapies directly to patients within hospital settings. Hospital pharmacies have a wide range of breast cancer drugs, including chemotherapy agents, targeted therapies, and supportive medications. They often work closely with oncology departments and healthcare professionals to ensure timely access to treatments and specialized care for breast cancer patients.
The fastest-growing segment in the breast cancer market's distribution channel is online pharmacies. With the rapid growth of e-commerce and advancements in digital healthcare, online pharmacies have gained popularity and are witnessing significant expansion. Online pharmacies offer convenience, easy access to a wide range of medications, and doorstep delivery. They provide an accessible platform for patients to purchase breast cancer drugs, including oral chemotherapy agents and supportive medications, without physically visiting a brick-and-mortar pharmacy. The COVID-19 pandemic has further accelerated the growth of online pharmacies, as patients sought alternative ways to access medications while minimizing physical contact.
Global Breast Cancer Market By Cancer Type
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Breast Cancer Market Regional Insights
North America represents a dominant segment in the global breast cancer market. This can be attributed to several factors, including advanced healthcare infrastructure, high awareness about breast cancer screening and early detection, and significant investments in research and development. North America is characterized by a robust presence of key market players, extensive clinical trials, and a strong emphasis on personalized medicine and targeted therapies. The region's dominance in the breast cancer market is further supported by favorable reimbursement policies and increased access to innovative treatments and technologies.
The fastest-growing segment in the breast cancer market is the Asia Pacific region. This region is witnessing rapid growth due to factors such as a large population base, increasing incidence of breast cancer, and improving healthcare infrastructure. Countries like China and India are experiencing a significant rise in breast cancer cases, primarily driven by lifestyle changes, urbanization, and aging populations. Moreover, increasing awareness about breast cancer, improving access to healthcare services, and growing investments in oncology research contribute to the region's growth. The Asia Pacific region also presents substantial market potential for breast cancer diagnostics and treatment, with both multinational and local companies expanding their presence in the region.
Global Breast Cancer Market By Region
- Largest
- Fastest
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Breast Cancer Market Dynamics
Breast Cancer Market Drivers
Growing Awareness and Early Detection
- Increased awareness about breast cancer and the importance of early detection have led to higher participation in screening programs and routine check-ups. Government initiatives, awareness campaigns, and advocacy organizations have played a significant role in promoting early detection, contributing to market growth.
Rising Healthcare Expenditure
- Increased healthcare spending, particularly in developed economies, has supported the growth of the breast cancer market. Investments in research and development, infrastructure development, and access to advanced treatment modalities have positively impacted the market.
Breast Cancer Market Restraints
Challenges in Personalized Medicine
- Breast cancer is a heterogeneous disease, with different subtypes and variations in treatment response. Developing personalized treatment approaches and identifying the most suitable therapies for each patient can be challenging and time-consuming, limiting widespread adoption of precision medicine.
Healthcare Inequalities and Access to Care
- Disparities in healthcare access, particularly in low-income regions and underserved populations, pose a significant restraint. Limited access to screening programs, diagnostic facilities, specialized treatments, and supportive care services can hinder timely diagnosis and optimal treatment, impacting market growth.
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Breast Cancer Market Competitive Landscape
The competitive landscape of the global breast cancer market is characterized by intense competition and a wide range of market players, including pharmaceutical companies, medical device manufacturers, diagnostic companies, and research institutions. These stakeholders are actively involved in the development and commercialization of innovative therapies, diagnostics, and technologies for breast cancer. The market is witnessing significant research and development activities aimed at introducing novel treatment options and improving diagnostic accuracy. Key players in the market are investing heavily in clinical trials, collaborations, and strategic partnerships to advance their product portfolios and gain a competitive edge. The focus is on developing targeted therapies, immunotherapies, and personalized medicine approaches to address the specific needs of different breast cancer subtypes.
Additionally, there is a growing emphasis on diagnostic advancements, including molecular profiling, genetic testing, and liquid biopsies, for accurate and early detection of breast cancer. Companies are also investing in the development of innovative medical devices and imaging technologies to improve breast cancer screening and diagnosis. The competitive landscape is further influenced by factors such as pricing strategies, market penetration, regulatory compliance, and intellectual property rights. Companies strive to differentiate themselves by offering comprehensive solutions, value-added services, and patient-centric approaches. Additionally, market players are actively engaged in awareness campaigns, patient education programs, and collaborations with healthcare providers to promote early detection and improve patient outcomes.
Breast Cancer Market Top Player’s Company Profile
- AstraZeneca PLC - UK
- Johnson & Johnson - US
- Merck & Co., Inc. - US
- Bristol Myers Squibb Company - US
- Eli Lilly and Company - US
- Sanofi - France
- AbbVie Inc. - US
- Daiichi Sankyo Company, Limited - Japan
- Amgen Inc. - US
- Genentech, Inc. - US
- Takeda Pharmaceutical Company Limited - Japan
- Eisai Co., Ltd. - Japan
- Mylan N.V. - US
- Celgene Corporation - US
- Astellas Pharma Inc. - Japan
- Teva Pharmaceutical Industries Ltd. - Israel
- Hologic, Inc. - US
Breast Cancer Market Recent Developments
- In January 2023, The FDA approved the first targeted therapy for triple-negative breast cancer, a form of the disease that is difficult to treat.
- In February 2023, The World Health Organization launched a new global breast cancer initiative with the goal of reducing mortality by 2.5% per year by 2040.
- In March 2023, A study published in the journal Nature Medicine found that a new drug combination can significantly improve survival rates for women with metastatic breast cancer.
Breast Cancer Key Market Trends
- Rise of Targeted Therapies: Targeted therapies have revolutionized breast cancer treatment by selectively targeting specific molecular abnormalities in cancer cells. HER2-targeted therapies, such as monoclonal antibodies and tyrosine kinase inhibitors, have significantly improved outcomes in HER2-positive breast cancer. Additionally, emerging targeted therapies that focus on other molecular targets, such as PI3K inhibitors and CDK4/6 inhibitors, are showing promise in various breast cancer subtypes.
- Patient-Centric Approaches: There is a growing emphasis on patient-centered care in the breast cancer market. Patient advocacy groups, healthcare providers, and pharmaceutical companies are working together to address the holistic needs of breast cancer patients. This includes providing supportive care services, survivorship programs, and psychosocial support to improve the quality of life for patients throughout their journey.
Breast Cancer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global breast cancer market analysis, the increasing incidence and prevalence of breast cancer, technological advancements, growing awareness, and rising healthcare expenditure are the key growth drivers. Personalized medicine, immunotherapy, and targeted therapies are emerging as key trends, revolutionizing breast cancer treatment by offering tailored approaches based on individual patient characteristics. The market is witnessing advancements in early detection methods, including imaging technologies and biomarker analysis, leading to improved diagnostic accuracy and early intervention. Moreover, patient-centric approaches, digital health solutions, and collaborative research efforts are transforming the breast cancer care paradigm, focusing on comprehensive patient support and improved outcomes. However, challenges such as high treatment costs, healthcare inequalities, and regulatory complexities remain as restraints. Continued research, innovation, and collaboration among stakeholders are essential to address these challenges and further advance the global breast cancer market, ultimately enhancing patient outcomes and quality of life for those affected by this disease.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 31.89 Billion |
| Market size value in 2031 | USD 77.88 Billion |
| Growth Rate | 10.43% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Breast Cancer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Breast Cancer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Breast Cancer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Breast Cancer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Breast Cancer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Breast Cancer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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