Global breast cancer therapy market is expected to reach US $29.6 billion by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
A result of the growth of malignant cells in the breast area, the breast cancer is reported to be the second most common type of cancers. Breast cancer begins with breast tissues, lobules or ducts. The cancer is called lobular carcinomas if the cancers develop from lobules, while it is called ductal carcinomas when the cancers develop from ducts.
Cited as the common disease in the women aged over 50 years, breast cancer is characterized by symptoms like lumps, change in breast size, skin dimpling, and impeding breast fluid discharge. The diagnosis of breast cancer involves physical tests, imaging test, and biopsy.
The hike in the incidences of breast cancer around the globe is reported to be the driving force for the growth of breast cancer therapy market. The rising instances of early onset of menarche, longer exposure to endogenous estrogens, first childbirth at later age, and delayed menopause are adding to the cases of breast cancer, which in turn is impacting the global market growth.
Additionally, the introduction of various diagnostic and screening programs along with remarkable technological advancements in the field have bolstered the growth rate of breast cancer therapy market. Other factors encouraging the growth of market include post-menopause obesity, widespread awareness about breast cancer, and lifestyle related risk factors such as smoking & alcohol consumption among women around the world.
According to the report, the targeted therapy segment generated the maximum revenue in 2017. However, in terms of regional contribution, North America dominated the global market in the same year. This lead can be credited to the huge investments done by the public and private sector companies in R&D, increased cases of breast cancer, breast feeding termination at an early stage, and large percentage of geriatric population in the area.
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Moreover, the Asia Pacific region is predicted to witness remarkable growth in the breast cancer therapy market over the forecast period. The changing lifestyle and the associated health risks along with higher occurrences of breast cancer are the driving forces of the market growth. In addition, the growing consciousness regarding the disease, better financial conditions, and adoption of advanced technologies are expected to boost Asia Pacific breast cancer therapy market.
The leading companies contributing to the breast cancer therapy market include Danaher, AstraZeneca, Eisai Co., Ltd., Bayer AG, Novocure, Bristol Myers Squibb, F. Hoffmann-La Roche AG, Merck & Co., Pfizer Inc., and Novartis AG.
The report details significant insights about different therapies adopted for breast cancer treatment such as targeted therapy, hormonal therapy, chemotherapy and surgery & radiation therapy, and projects their contribution towards the global market share enhancement.