Market Trends of Breast Cancer Therapy Industry
This section covers the major market trends shaping the Breast Cancer Therapy Market according to our research experts:
Chemotherapy Segment Expected to Witness High Growth Over the Forecast Period
Chemotherapy is the most common form of therapy used to stop or slow down the growth of cancerous cells. It is the most common treatment for triple-negative breast cancer patients.
According to the CDC, in a November 2021 update, nearly 650,000 cancer patients (including breast cancer patients) receive chemotherapy every year in the United States. Thus, the growing number of patients receiving chemotherapy and the development of new products are expected to significantly contribute to the market's growth.
Furthermore, the number of product launches in this segment is expected to drive its growth. For instance, in July 2021, Merck, also known as MSD outside the United States and Canada, announced that the United States Food and Drug Administration (FDA) approved KEYTRUDA, Merck's anti-PD-1 therapy, for the treatment of patients with high-risk early-stage triple-negative breast cancer (TNBC). Based on Phase III KEYNOTE-522 trial, this is meant to be used in combination with chemotherapy as a neoadjuvant treatment and then continued as a single agent as adjuvant treatment after surgery. Also, in May 2021, Zydus Cadila launched a next-generation breast cancer drug in India. The drug, Trastuzumab emtasine, is considered the first targeted chemotherapy drug for breast cancer.
Thus, owing to the abovementioned factors, the market segment is expected to show growth over the forecast period.
North America Expected to Dominate the Market Over the Forecast Period
Within North America, the United States is expected to dominate the overall market throughout the forecast period. The major factors fueling the market's growth are the increasing burden of breast cancer in the country, growing awareness about breast cancer, and increasing product launches.
In the United States, breast cancer is one of the leading cancer types. According to the January 2022 update by breastcancer.org, around 1 in 8 women in the country (about 13%) develop invasive breast cancer over their lifetime. The same source reports that, in 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, as well as 51,400 new cases of non-invasive (in situ) breast cancer. As per the same source, about 2,710 new cases of invasive breast cancer are expected to be diagnosed in men in 2022. A man's lifetime risk of breast cancer is about 1 in 833.
Furthermore, as per an October 2021 update by the University of North Carolina's School of Medicine, Susan G. Komen, the world's leading breast cancer organization, announced that it would award USD 1.5 million for three new research projects that examine three unique areas focused on metastatic breast cancer (MBC).
In April 2021, Gilead Sciences Inc. reported that the US FDA granted full approval to Trodelvy (sacituzumab govitecan-hziy) for adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease. Thus the increased product approval from the US FDA is expected to boost the growth of the market over the forecast period.
Thus, due to the above-mentioned factors, the market in North America is expected to grow during the forecast period.
