According to a recent study published by the Market Research Future analysts, the global breast cancer market is growing at a moderate growth rate; mainly due to rise in the prevalence rate of the breast cancer. Adoption of unhealthy lifestyle, mutations in genetic profile of the patients and continuous exposure to harmful radiations are also responsible for the increase of the breast cancer cases all across the world. Increasing government support, increased investment in the research and development, and rising awareness about the breast cancer among masses also has contributed to the growth of the market.
On the other hand, there are some obstacles in this market such as high cost of the treatment, expensive drugs, and side effects of the treatment. These all factors have negatively affected the widespread growth of overall breast cancer market.
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Breast cancer is defined as a type of cancer where a lump is formed in the breast, and red patches appear on the skin when cells of breast tissue become cancerous. Market Research Future (MRFR) has published and released a research report about the global breast cancer market that anticipates great boost with 9.2% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023. Observing the market structure, this report evaluates the future growth potential of the market and analyzes the approaches of the key players in the market. It also follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
The key factors that drive this market include the adoption of an unhealthy lifestyle, exposure to harmful radiation, increasing female geriatric population, increasing governmental initiatives, and increasing number of females suffering from breast cancer. However, there are some factors that can hamper the growth of this market. Such factors include adverse effects associated with the therapy, high cost of the treatment, and long approval time for the drugs.
The key players in the global breast cancer market include Accord Healthcare, Inc. (India), Actavis Inc. (USA), Apthera Inc (UK), Astellas (Japan), AstraZeneca (UK), Bayer AG (Germany), BioNumerik Pharmaceuticals (USA), Bipar Sciences (USA), Bristol-Myers Squibb Company (USA), Eli Lilly and Company (USA), F. Hoffmann-La Roche (Switzerland), Genentech (USA), Gilead Sciences Inc. (USA), GlaxoSmithKline (UK), Hospira, Inc. (USA), Novartis AG (Switzerland), Oncogenex (USA), Oncothyreon Inc (USA), Pfizer (USA), Puma Biotechnology (USA), Sanofi S.A. (USA), Sun Pharmaceutical Industries Ltd (India), and Teva Pharmaceutical Industries (Israel).
The global breast cancer market has been segmented on the basis of end user, treatment, type, and lastly, region. Based on end users, this market has been segmented on the basis of hospital pharmacies, private pharmacies, and others. The treatment-based segmentation of this market covers biologic therapy, chemotherapy, hormone therapy, surgery & radiation therapy, and targeted therapy. Chemotherapy has been further segmented into alkylating agents, antimetabolites, anthracyclines, and taxanes. The targeted therapy has been further segmented into monoclonal antibodies and tyrosine kinase inhibitors. By type-based segmentation, the market has been segmented into invasive ductal carcinoma, invasive lobular carcinoma, others.
The regional segmentation of the global breast cancer market segments the market into regional markets namely The Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA). The Americas dominate the global market. Changing lifestyle and increasing prevalence of breast cancer in the Americas has driven the growth of the market. In the Americas, North America is a bigger market than South America because more advanced medical facilities being available in North America and many key players in the market is based in Canada and the United States of America (USA).
The second biggest market is in Europe. Due to the reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most significant country based markets in Western Europe are France, Germany, Italy, Spain, and the United Kingdom (UK). Technological advancement, increased life expectancy and increasing disposable income regarding healthcare expenditure of people are driving the market growth in the Americas and Europe.
According to the report, Asia Pacific is expected to emerge as the fastest growing market during the forecast period. The most significant country-specific markets in the Asia Pacific region are Australia, China, Japan, and South Korea, followed by the rest of Asia Pacific. MEA region is a small market. The market is low due to lack of awareness, lack of education, lack of technological development, political instability, poor healthcare, and healthcare not considered a priority by most governments. The most important country-specific markets in this region are Kuwait, Oman, Saudi Arabia, Qatar, and the United Arab Emirates (UAE).
Latest Industrial News
- Roberta Lombardi, founder, and CEO of Infinite Beauty has designed a new bra to make breast cancer patients feel normal.
- Biotechnology Company, Oncolytics Biotech, has announced a clinical collaboration with an academic research group. This collaboration is dedicated to clinical and translational research in breast cancer, SOLTI.
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Detailed Table Of Contents
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power Of Suppliers
4.3 Bargaining Power Of Buyers
4.4 Threat Of New Entrants
4.5 Threat Of Substitutes
4.6 Intensity Of Rivalry
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