The breast cancer therapeutics market is projected to expand from approximately US$ 31,073.52 million in 2022 to around US$ 63,967.05 million by 2030, reflecting a compound annual growth rate (CAGR) of 9.4% from 2022 to 2030.
Breast cancer occurs when cells in the breast begin to grow uncontrollably. There are various types of breast cancer, classified based on which breast cells become cancerous. Most cases originate in the ducts or lobules of the breast. The disease can spread beyond the breast through blood and lymphatic vessels. Treatment strategies are determined by the cancer's stage and may include chemotherapy, radiation therapy, hormone therapy, and surgical interventions. The growth of the breast cancer therapeutics market is largely driven by the increasing incidence of breast cancer and the introduction of numerous diagnostic and screening initiatives.
Personalized medicine is an innovative approach that customizes treatment plans based on individual patient characteristics, including genetic factors. This method allows for more precise and effective therapies, as it takes into account the specific traits of each patient's cancer. Recent advancements in genomics and molecular diagnostics have made personalized medicine a feasible option for breast cancer treatment. By examining a patient's tumor at a molecular level, healthcare professionals can identify particular genetic mutations or biomarkers that contribute to cancer progression. This information can guide the selection of the most suitable treatment options, such as targeted therapies or immunotherapies, which are likely to yield the best results for that patient. The implementation of personalized medicine in breast cancer treatment has the potential to greatly enhance patient outcomes. For example, in February 2022, researchers at the NIH developed a personalized therapy approach that utilizes a patient?s immune cells to combat metastatic breast cancer, marking a significant advancement in personalized medicine.
By offering customized treatments, healthcare providers can improve the chances of successful outcomes while minimizing the risk of adverse side effects. Beyond enhancing patient care, personalized medicine also presents economic advantages. By opting for treatments that are more likely to succeed, healthcare providers can lower costs associated with ineffective therapies and avoid unnecessary expenditures. As advancements in genomics and molecular diagnostics continue, personalized medicine is expected to become more widely available and integrated into standard treatment protocols in the near future. Consequently, the rising adoption of personalized medicine is anticipated to drive new growth trends within the breast cancer therapeutics market.
Insights Based on Distribution Channels
The breast cancer therapeutics market is categorized by distribution channels, including hospital pharmacies, retail drug stores, and online pharmacies. In 2022, hospital pharmacies accounted for the largest share of the market. These pharmacies play a vital role in managing breast cancer therapeutics, including compounding and dispensing medications, monitoring drug safety, managing medication regimens, and educating patients. Given the prevalence of breast cancer globally, the demand for effective treatments is consistently rising. Hospital pharmacies are tasked with procuring, storing, and dispensing chemotherapy and other breast cancer-related treatments, ensuring timely access to the appropriate therapies for patients. They also oversee the inventory and storage of these medications, adhering to stringent regulations. Their collaboration with oncologists and healthcare teams is crucial in providing optimal, personalized care throughout the treatment process. Hospital pharmacies are essential in delivering timely and effective breast cancer therapies, significantly influencing patient outcomes in their fight against the disease.
On the other hand, the online pharmacy segment is expected to experience the highest CAGR from 2022 to 2030. Online pharmacies provide a broad range of breast cancer medications, including chemotherapy and supportive therapies, often with the convenience of home delivery. By ensuring prescription verification and compliance with regulations, online pharmacies maintain the integrity of the healthcare system. They also offer convenience for patients who prefer discreet shopping or have mobility challenges due to treatment. Additionally, online platforms allow patients to compare prices and access a wider selection of breast cancer therapeutics. With services like home delivery and patient support, online pharmacies are transforming the breast cancer treatment experience and eliminating geographical barriers for patients globally. The increasing preference for these pharmacies among patients seeking therapeutics is driving the segment's growth.
Europe ranks as the second-largest market for breast cancer therapeutics. In the UK, breast cancer is a prevalent form of cancer, with the National Health Service (NHS) reporting that approximately one in seven women will be diagnosed with the disease in their lifetime. Annually, around 55,000 women receive a breast cancer diagnosis.
The rising demand for innovative therapeutics in the medical field has led to increased investments in research and development, propelling market growth. Companies are investing in R&D to remain competitive and offer cutting-edge products. For instance, in October 2021, Trodelvy, a new antibody treatment, was approved for an aggressive type of breast cancer known as triple-negative breast cancer. In November 2021, Sanofi announced a US$ 180 million investment and a strategic partnership with Owkin, a French-American AI startup focused on cancer research, to enhance their oncology portfolio, including breast cancer, lung cancer, and multiple myeloma, and to improve clinical trial designs and biomarker detection.
The Italian government and national health organizations have initiated several programs aimed at the early detection and treatment of breast cancer. These initiatives include offering free mammograms to women aged 50 to 69 and implementing a nationwide breast cancer screening program. Furthermore, according to EURACTIV, Italy has seen a significant increase in specialized Breast Units, growing from 84 in 2012 to 173 in 2020. This expansion of breast units enables healthcare professionals to provide better treatment options for breast cancer patients. These factors collectively contribute to the growth of the market in the region.
The breast cancer therapeutics market report is based on data from primary and secondary sources, including the American Cancer Society, World Health Organization (WHO), National Institutes of Health, and the US FDA.