Breast Cancer Market Size was valued at USD 4.1 billion in 2022 and is projected to grow from USD 4.47 Billion in 2023 to USD 9.05 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.2% during the forecast period (2023 - 2032).
Greater demand from the medical industry for treating patients with novel medicines and technologies has led to increased research and development in the field of breast cancer, which has significantly contributed to breast cancer market expansion. These are just a few of the market drivers that are driving the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The primary driver driving the market for breast cancer treatments to a greater extent across areas and with an expanding number of pharmaceuticals having maximal efficacy and efficiency in the medications is the rising number of breast cancer patients. The breast market is predicted to increase as a consequence of improved diagnostic procedures that are becoming more prevalent in daily life for imaging and screening of the disorder with quick findings and increased accuracy of the procedures.
The market for breast cancer medicines has been boosted by rising consumer demand, an increase in breast cancer patients, and the need for effective treatments that would enhance patients' health and lengthen their lives. Thus, this factor is driving the market CAGR.
New technologies in development with cutting-edge features created in treatments and improved treatment efficacy are major elements in the market value growth. The breast cancer market is expanded by increased medication advancements, new product releases by major market participants, improved treatment outcomes seen in patients, greater efficacy and effectivity of the drugs, and newly created therapies used for the disease.
The market for breast cancer is expanded to a greater extent due to the government's increased support for the incorporation of new treatments and medications in the healthcare industry and the rise in the incidence of breast cancer among people as a result of decreased exercise, decreased obesity, increased alcohol consumption, hormone problems, menopause, and family histories of cancer.
Increase government benefits through the development of more policies, such as reimbursement policies, so that common people can profit from expensive treatments. This contributes to the growth of the breast cancer market by introducing new regulations and improving cost-effectiveness. Thus, it is anticipated that this aspect will accelerate breast cancer market revenue globally.
The Breast Cancer Market segmentation, based on type, includes invasive ductal carcinoma, invasive lobular carcinoma. The Ductal Carcinoma segment held the majority share in 2022 in the Breast Cancer Market revenue. Ductal Carcinoma is the most common type of breast cancer accounting for 80% of breast cancer cases. Scientists have determined certain hormonal, environmental, and lifestyle factors that are thought to affect a person's risk of developing breast cancer by examining the findings of extensive studies. These factors include smoking, poor nutrition, and prior radiation therapy that was given to the chest region.
The Breast Cancer Market segmentation, based on treatment, includes chemotherapy, surgery & radiation therapy, targeted therapy, biologic therapy, hormone therapy. The targeted therapy segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. The market for targeted therapy for breast cancer is the largest, and usage of the therapy has increased due to higher production and better performance, with new drug launches also contributing to the development of the market for breast cancer. Drugs used in targeted therapy include Kadcyla, Afinitor, Lynparza, and Zortress. With recent regulatory approvals, immunotherapy also gained a larger market share in the breast cancer market.
The Breast Cancer Market data, based on end-user, includes hospital pharmacies, private pharmacies. The hospital pharmacies segment dominated the breast cancer market revenue in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. This can be contributed to the patients' increased reliance on chemotherapy-related drugs. During the forecast period, the market for treatments for breast cancer is expected to rise due to rising patient demand for various pharmaceuticals and improved accessibility to such products in hospital pharmacies.
Figure 2: Breast Cancer Market, by End-User, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Breast Cancer market accounted for USD 1.87 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. Increased government initiative in developing new drugs developments, increased efficacy of the medications, and increased results help to enhance the market growth.
Advanced developed technologies in the market and an increased number of treatments available for treating breast cancer with an increasing number of patients help to propel the market growth. New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organisations in the market.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: BREAST CANCER MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe breast cancer market accounts for the second-largest market share. It can be contributed to the rising incidence of breast cancer and the increased use of cutting-edge therapies in the region. For instance, female breast cancer is the most prevalent cancer diagnosed in Europe, according to figures provided by the Joint Research Center (JRC) of the European Union. In the EU-27, it was predicted that more than 355,000 women would receive a breast cancer diagnosis in 2020. Moreover, UK breast cancer market held the largest market share, and the Germany breast cancer market was the fastest growing market in the region.
Asia Pacific Breast Cancer Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rising patient population, increased demand for cutting-edge pharmaceuticals, and sharp healthcare costs. For instance, F. Hoffmann-La Roche Ltd. announced the arrival of atezolizumab, an immunotherapy medicine, in India in April 2020 for the treatment of metastatic triple-negative breast cancer (TNBC). Further, the China breast cancer market held the largest market share, and the India breast cancer market was the fastest growing market in the region.
Breast Cancer Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Breast Cancer market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the breast cancer industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global breast cancer industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, breast cancer industry has provided medicine with some of the most significant benefits. The breast cancer market major player such as Mylan Laboratories, AstraZeneca, Celltrion, Bristol-Myers Squibb, FRESENIUS KABI, Eisai Co. Ltd.
Hyderabad-based Natco Pharma is a multinational pharmaceutical corporation in India. The business produces agricultural health science products, final dosage formulations, active medicinal components, and contract manufacturing services. In September 2020, following the final acceptance of its Abbreviated New Drug Application (ANDA) by the U.S. Federal Drug Administration, Natco Pharma announced that its marketing partner, Lupin, had released Lapatinib Tablets, 250 mg, in the U.S. (USFDA). For Lapatinib Tablets, 250mg, carrying a Paragraph IV certification, NATCO was the initial ANDA application.
Named after the Merck Group, which was established in Germany in 1668 and which was formerly the American arm, Merck & Co., Inc. is an American global pharmaceutical corporation with its headquarters in Rahway, New Jersey. Merck announced in July 2021 that the United States Food and Drug Administration (FDA) had authorized KEYTRUDA, Merck's anti-PD-1 medication, to treat patients with high-risk early-stage triple-negative breast cancer. Merck is also known as MSD outside of the United States and Canada (TNBC).
Key Companies in the Breast Cancer market includes
Breast Cancer Industry Developments
November 2023Pfizer announces that its new breast cancer drug, palbociclib, has been approved by the FDA for the treatment of patients with HER2-positive metastatic breast cancer. Palbociclib is a CDK4/6 inhibitor that works by blocking the growth and spread of cancer cells.Merck announces that its new breast cancer drug, pembrolizumab, has been approved by the FDA for the treatment of patients with triple-negative breast cancer (TNBC).
Pembrolizumab is an immunotherapy drug that works by boosting the body's immune system to fight cancer cells.Roche announces that its new breast cancer drug, tucatinib, has been approved by the FDA for the treatment of patients with HER2-positive advanced or metastatic breast cancer. Tucatinib is a TKI that works by blocking the HER2 protein, which is involved in the growth and spread of cancer cells.
September 2022: In a cohort of patients with aggressive types of hormone receptor-positive, human epidermal growth factor receptor-2 negative (HR+/HER2-) metastatic breast cancer, Novartis reported findings from a new pooled exploratory analysis across the whole MONALEESA Phase III study, indicating roughly one year of extra overall survival (OS) benefit (ABC).
August 2022: Enhertu (fam-trastuzumab-deruxtecan-nxki), an IV infusion, has been approved by the US Food and Drug Administration for the treatment of patients with HER2-low breast cancer that is either metastatic (has spread to other regions of the body) or unresectable (cannot be removed). This is one of the first treatments approved for patients with the HER2-low breast cancer subtype, a newly identified subtype of HER2-negative breast cancer.
North America
Europe
Asia-Pacific
Rest of the World
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.1 billion |
| Market Size 2023 | USD 4.47 billion |
| Market Size 2032 | USD 9.05 billion |
| Compound Annual Growth Rate (CAGR) | 9.2% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Treatment, End-User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Mylan Laboratories, AstraZeneca, Celltrion, Bristol-Myers Squibb, FRESENIUS KABI, Eisai Co. Ltd. |
| Key Market Opportunities | Increased support from government |
| Key Market Dynamics | High cost of research and development |
Global Breast cancer Market Highlights:
Frequently Asked Questions (FAQ) :
The Breast Cancer Market size was valued at USD 4.1 Billion in 2022.
The global market is projected to grow at a CAGR of 9.2% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Mylan Laboratories, AstraZeneca, Celltrion, Bristol-Myers Squibb, FRESENIUS KABI, Eisai Co. Ltd
The invasive ductal carcinoma category dominated the market in 2022.
The hospital pharmacies had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
