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.
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.
The emergence of supportive reimbursement and insurance policies could further enhance the industry outlook over the forthcoming years. Global Market Insights, Inc., estimates that the breast cancer therapeutics market could reach USD 30,637.7 million by the year 2025. However, challenges such as rising costs of breast cancer treatment and surge in price of targeted therapeutic drugs can abstain market expansion.
Mentioned below are some of the ongoing trends supporting the breast cancer therapeutic industry growth:
Growing popularity of retail pharmacies -
Factors like prolonged usage of oral formulations and reimbursement variations, especially for targeted drug therapies, could encourage the shift from specialty to retail pharmacies. Estimates suggest that the distribution of breast cancer treatments through retail pharmacies might grow at a 9.7% CAGR over the predicted timeframe.
High demand across Germany -
Germany is set to dominate the Europe breast cancer therapeutics market, recording notable growth during the analysis period. In 2018, the regional Breast Cancer Therapeutics 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.
To access sample pages of this report titled, “Breast Cancer Therapeutics Market Size By Product (Hormone Drugs, Chemotherapy Drugs, Targeted Drug Therapy), By Distribution Channel (Hospitals, Ambulatory Surgical Centres, Clinics, e-commerce, Retail Pharmacies), Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/466
Adoption of new business strategies -
Established industry participants such as Roche Diagnostics, AstraZeneca, Novartis, Pfizer, Eli Lilly, Eisai, Celgene, Sanofi, MAQUET, Drager, and Breas Medical are concentrating on expanding their market presence by developing novel therapeutics that offer enhanced results. Companies are looking to form strategic alliances with regional players to extend their geographical reach.
Taking November 2020 for instance, Alembic Pharmaceuticals announced that it has attained tentative approval from health regulators of the U.S for its newly developed Palbociclib capsules. These capsules are used to treat a specific type of breast cancer.
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