The Breast Cancer Drugs Market is estimated to reach $32.7 billion by 2028, growing at a CAGR of 11.2% over the forecast period 2023-2028. Human
epidermal growth factor transmembrane receptor inhibitors (HER2 inhibitors)
include monoclonal antibodies and tyrosine kinase inhibitors, both of which
slow or stop cellular proliferation. Human epidermal growth factor
transmembrane receptors (HER2 inhibitors) have three parts: an intracellular
tyrosine kinase, a transmembrane component and an extracellular binding
component. Certain forms of breast cancer have an overexpression of HER2, which
speeds up the growth and dissemination of the cancer cells. The most prevalent
subtype of breast cancer is HR-positive/HER2. According to an article on HER2
breast cancer, the breast cancer types with the greatest age-standardized
incidence rates were HR-positive and HER2-negative. HR-positive/HER2-negative
and HR-positive/HER2-positive incidence trends both showed an increase in 2022,
with annual percent changes of 5.4% and 10.1%, respectively. In the younger generation
and during the most recent diagnosis period, the rate ratio was high. These
incidences cause a rise in the demand for HER2 inhibitors. The R&D
initiatives to develop effective drugs for the treatment of HER2 breast cancer
are being pursued as one of the most widespread trends in the global market.
Breast Cancer Drugs Market – Drivers
Growing Public Awareness of Breast Cancer and Diagnostic Methods:
The most frequent cancer among women worldwide is Breast Cancer. According to World Health Organization (WHO), with 685,000 deaths worldwide, 2.3 million women supposedly received a breast cancer diagnosis in 2020. The most common cancer in the globe, as of the end of 2020, was breast cancer which had been diagnosed in 7.8 million women in the previous five years. However, there is a strong chance that breast cancer can be treated if it is discovered early and if adequate diagnostic and treatment are available. As a component of national cancer control plans, WHO recommends comprehensive breast cancer control initiatives. The countries are prioritizing the expansion of cancer care based on their unique epidemiological burden and health system resources and making appropriate investments in those areas. Thus, rising awareness among people is anticipated to drive the Breast Cancer drug market.
Financially Beneficial Insurance and Reimbursement Policies:
Breast Cancer is not covered by standard health insurance policies but rather by critical illness insurance plans. Policies for critical illnesses are created to cover serious illnesses. Such plans, regardless of the actual cost of treatment, would pay people a lump sum as soon as they were diagnosed with the disease. With this sum, patients can cover all medical costs related to breast cancer treatment. All critical illness insurance policies include a 30-day surviving period in addition to the waiting period. According to the National Cancer Institute, the estimated average cost of medical care and drugs in the year following a cancer diagnosis was more than $42,000. A few procedures cost more than $1 million. Cancer insurance coverage can greatly lessen the financial burden brought on by the increased expenses and protect against extreme medical costs, financial despair and even bankruptcies.
In July 2022, AstraZeneca announced a deal to acquire TeneoTwo Inc. (TeneoTwo), which includes TNB-486, a CD19/CD3 T-cell engager in Phase I clinical testing for relapsed and refractory B-cell non-Hodgkin lymphoma. This prospective new treatment for B-cell hemotologic malignancies, such as diffuse large B-cell lymphoma and follicular lymphoma, is being developed with the purchase of TNB-486.
Players in this Market:
The major companies in the Breast Cancer Drugs industry include AstraZeneca, Eli Lilly & Co, Pfizer, Novartis, Amgen, Roche, Merck & Co, Abbvie, Natco Pharma, Bristol-Myers Squibb and Others.
Mr. Venkat Reddy