The breast cancer therapeutics market size was valued at USD 28.4 Billion in 2023 and is expected to reach a market size of USD 53.2 Billion by 2032 at a CAGR of 7.3%.
Fort Collins, Colorado, April 21, 2024 (GLOBE NEWSWIRE) --
The growing prevalence of cancer attracts industry growth for therapeutics.
The breast cancer therapeutics market has experienced significant growth, primarily driven by the development of targeted therapies and immunotherapy, which have transformed the treatment landscape for breast cancer. Targeted therapies, such as monoclonal antibodies like trastuzumab and small molecule inhibitors like CDK4/6 inhibitors, have notably enhanced patient outcomes by targeting molecular pathways crucial in cancer growth and progression. As per a report by the American Cancer Society, targeted therapies have elevated the five-year survival rate for HER2-positive breast cancer from 70% to 92%.
Furthermore, the advent of immunotherapy, remarkably immune checkpoint inhibitors like atezolizumab and antibody-drug conjugates like sacituzumab govitecan, has demonstrated remarkable efficacy in specific breast cancer subtypes, notably triple-negative breast cancer. According to the American Society of Clinical Oncology (ASCO), immunotherapy has extended the median overall survival for advanced triple-negative breast cancer from 12-15 months to 25 months.
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Segmentation Overview:
The breast cancer therapeutics market has been segmented into imaging modalities, end-user, and region.
Hospitals accounted for a significant share in 2023.
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Hospitals are the primary healthcare facilities where breast cancer patients receive comprehensive treatment, including surgery, chemotherapy, radiation therapy, and targeted therapies. The large patient volume, advanced medical infrastructure availability, and skilled healthcare professionals in hospitals contribute to their dominant position in the market.
Monoclonal antibodies (mAbs) dominated the breast cancer therapeutics market.
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Monoclonal antibodies (mAbs) emerged as the largest subsegment in 2023. Monoclonal antibodies, such as trastuzumab (Herceptin), pertuzumab (Perjeta), and trastuzumab emtansine (Kadcyla), have revolutionized the treatment of HER2-positive breast cancer, which accounts for approximately 20% of all breast cancer cases.
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Breast Cancer Therapeutics Market Report Highlights:
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The breast cancer therapeutics market growth is anticipated at a CAGR of 7.3% by 2032.
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Advancements in targeted therapies and immunotherapy will drive market growth in the coming years.