The HER-2 Negative Breast Cancer Market is estimated to be valued at US$ 13,873.7 Mn or Mn in 2023 and is expected to exhibit a CAGR of 10. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
HER-2 negative breast cancer lacks excess levels of the human epidermal growth factor receptor 2 (HER2) protein. It accounts for approximately 65-70% of all breast cancer cases. Treatment options for HER-2 negative breast cancer includes chemotherapy, hormone therapy, surgery, radiation therapy etc. depending on the stage and other factors of the cancer. Chemotherapy drugs like paclitaxel, docetaxel, 5-fluorouracil etc. are commonly used in combination with other drugs. Targeted hormone therapy drugs like tamoxifen and aromatase inhibitors are predominantly used.
Market Dynamics:
The HER-2 Negative Breast Cancer Market is driven by rising prevalence of breast cancer worldwide and increasing research and development activities. According to WHO, breast cancer is the most common cancer among women with an estimated 2.3 million new cases in 2020. Such high prevalence has brought immense focus on development of advanced and effective treatment options. Furthermore, various market players are increasingly investing in R&D to develop targeted drugs with novel mechanisms of action and minimal side effects. For instance, in 2019, Radius Health announced successful completion of REMEDEE Phase 3 trial evaluating elacestrant, an investigational selective estrogen receptor degrader (SERD), in patients with advanced ER-positive and HER2-negative breast cancer. Such ongoing clinical trials and new drug approvals are expected to support the market growth over the forecast period.
Segment Analysis
The HER-2 negative breast cancer market is dominated by the ductal carcinoma in situ (DCIS) segment. DCIS accounts for over 60% of the total cases as it starts within the milk ducts of the breast and has not yet spread to nearby breast tissue. It is considered as a pre-cancer but can develop into invasive breast cancer if not treated.
PEST Analysis
Political: Governments across countries are raising awareness campaigns through organizations to promote early screening and diagnosis which is boosting the market growth. Economic: Growing healthcare expenditures along with increasing disposable incomes are allowing people to opt for advanced treatments, positively impacting the market size. Social: Changing social perceptions are reducing the stigma attached to breast cancer treatments. Women are more open in discussing breast health issues which is supporting early detection. Technological: Introduction of targeted therapies and biomarkers for screening are improving treatment outcomes and clinical effectiveness. Ongoing R&D for advanced diagnostic techniques will further augment the market during the forecast period.
Key Takeaways
The Global HER-2 Negative Breast Cancer Market Size is expected to witness high growth, exhibiting b over the forecast period, due to increasing adoption of combination therapies and targeted drugs.
Regionally, North America dominated the market and captured over 40% share in 2023 due to availability of advanced healthcare facilities and favorable reimbursement policies for breast cancer treatment in the region. Asia Pacific is expected to exhibit fastest growth during 2023-2030 on back of growing prevalence of breast cancer and improving healthcare infrastructure in emerging countries like China and India.
Key players operating in the HER-2 negative breast cancer market are Pfizer Inc., Novartis AG, Merck & Co. Inc., GSK PLC, AstraZeneca, Eli Lilly and Company, and Bristol-Myers Squibb Company (Celgene Corporation), among others. Dominating players are focusing on developing innovative therapies through strategic collaborations and acquisitions to strengthen their product pipeline and market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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