Demand for Triple Negative Breast Cancer Treatment Market to be Fueled by Changes in Consumer Perception in the Light of COVID-19
Ongoing advancements in cancer research continue to lead to the introduction of newer and better treatment options including drug therapies. The provision of newer drugs and treatments is expected to improve the diagnostic and treatment rate for triple-negative breast cancer. Some of the recent clinical efforts are being targeted at the molecular level characterization of triple-negative breast cancer across emerging therapeutic targets such as epigenetic proteins, PARP1, androgen receptors, receptor and non-receptor tyrosine kinases, and immune checkpoints.
These initiatives are anticipated to boost revenue growth of the triple-negative breast cancer treatment market. In a new research study, Persistence Market Research estimates the global triple-negative breast cancer treatment market revenue to cross US$ 720 Mn by 2026 from an estimated valuation of just under US$ 505 Mn in 2018. This is indicative of a CAGR of 4.7% during the period 2018 to 2026.
Development of generics is another key opportunity area in the triple-negative breast cancer treatment market. With the rapidly expanding number of cancer cases across the world, there is a need for effective cancer management, including the provision of better and more efficient drugs. Developing economies are faced with challenges on several fronts including paucity of funds and lack of proper treatment options, calling for more innovative approaches to affordable healthcare.
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The availability of biosimilars and affordable generic anti-cancer drugs in developing regions is expected to significantly reduce the burden of cancer care. A projected cost reduction to the tune of more than 30% – 40% and extended use of generic drugs is expected to reduce overall cancer treatment costs, thereby increasing the treatment rate for triple-negative breast cancer. This is further anticipated to create lucrative growth opportunities in the global triple-negative breast cancer treatment market.
Advances in Cancer Treatment and Introduction of Innovative Cancer Treatment Drugs to Boost Revenue Growth of the Triple-Negative Breast Cancer Treatment Market
Breast cancer is one of the most common types of cancer in women, and over the years, pharmaceutical and life sciences companies have been conducting advanced research and development activities to devise newer treatment options and drugs to treat breast cancer. Several new drug formulations are currently in the pipeline in different stages of clinical development and this is expected to bode well for the triple-negative breast cancer treatment market.
Innovation in oncology therapeutics has shifted focus towards an outcome based approach to cancer care, with an increasing emphasis on combination drugs and newer therapeutic modalities. This is further likely to put the global triple-negative breast cancer treatment market on a positive growth trajectory in the coming years.
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Combination Therapy and Advancements in Nano Medicine Research Trending the Triple-Negative Breast Cancer Treatment Market
One of the biggest trends being observed in the global market for triple-negative breast cancer treatment is the shift towards combination therapy.
Companies in the global triple-negative breast cancer treatment market are conducting clinical trials for combination therapies by collaborating with other players in the market. Combination therapies are the latest innovation in the field of oncology and the combination of therapeutic drugs with chemotherapy is said to be an effective protocol for the treatment of triple-negative breast cancer.
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Another huge trend in the triple-negative breast cancer treatment market is the emergence of nanotechnology as an efficient tool in the clinical management of critical diseases such as triple-negative breast cancer. It has been observed that the combination of gold nanoparticles and folic acid results in higher cell entry rate in both in-vitro and in-vivo models, indicative of the fact that folate receptors are effective targeted therapies for the treatment of triple-negative breast cancer.
Nanoparticles facilitate systematic and efficient delivery of drugs and agents to the site of the tumor. Advanced R&D in nanotechnology and nano medicine is one of the top trends likely to impact the global triple-negative breast cancer treatment market in the years to come.
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