The global HER-2 negative breast cancer market is estimated to be valued at US$ 12,647.0 million in 2022 and is expected to exhibit a CAGR of 10.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
HER-2 negative breast cancer refers to a type of breast cancer that does not overexpress HER-2 protein. It accounts for a significant portion of breast cancer cases globally. The market offers various treatment options, including chemotherapy, hormone therapy, and targeted therapies. Targeted therapies have gained significant attention in recent years due to their ability to specifically attack cancer cells while minimizing damage to healthy cells. These therapies have shown promising results in terms of improved survival rates and reduced side effects compared to traditional treatment options. The growing demand for targeted therapies is expected to drive the growth of the HER-2 negative breast cancer market.
Market Key Trends:
One key trend in the HER-2 negative breast cancer market is the increasing adoption of immunotherapy. Immunotherapy is a type of targeted therapy that enhances the body's immune system to fight against cancer cells. It has shown promising results in treating various types of cancers, including HER-2 negative breast cancer. For instance, the use of immune checkpoint inhibitors such as pembrolizumab and atezolizumab has shown significant benefits in patients with advanced HER-2 negative breast cancer. These immunotherapies help in improving overall survival rates and provide a new treatment option for patients who do not respond to traditional therapies.
PEST Analysis:
Political: Governments worldwide are focusing on improving cancer care and research facilities, which is likely to create a favorable regulatory environment for market growth.
Economic: Increasing healthcare expenditure and rising affordability of advanced treatment options are driving market growth.
Social: Growing awareness about breast cancer screening programs and early detection initiatives are increasing the demand for HER-2 negative breast cancer treatments.
Technological: Advancements in molecular diagnostics and genomics have improved the understanding of breast cancer biology, leading to the development of targeted therapies.
Key Takeaways:
1: The global HER-2 negative breast cancer market is expected to witness high growth, exhibiting a CAGR of 10.1% over the forecast period. The increasing demand for targeted therapies, such as immunotherapy, is the key driving factor behind this growth. These therapies offer improved survival rates and reduced side effects for patients.
2: The fastest-growing and dominating region in the HER-2 negative breast cancer market is North America. The region has well-established healthcare infrastructure, favorable reimbursement policies, and extensive R&D activities, contributing to its market dominance.
3: Key players operating in the global HER-2 negative breast cancer market include Pfizer Inc., Novartis AG, Merck & Co. Inc., GSK PLC, AstraZeneca, Eli Lilly and Company, and Bristol-Myers Squibb Company (Celgene Corporation). These companies focus on developing innovative therapies and collaborate with research institutes to improve treatment outcomes for patients.
In conclusion, the global HER-2 negative breast cancer market is expected to witness significant growth in the coming years. The rising demand for targeted therapies, such as immunotherapy, coupled with advancements in genomics and molecular diagnostics, will drive market growth. North America is expected to dominate the market due to its well-established healthcare infrastructure and favorable reimbursement policies. Key players in the market are actively involved in developing innovative therapies and collaborating with research institutes to improve patient outcomes.
