by Breast cancer is one of the most common cancers among women worldwide. Based on the human epidermal growth factor receptor 2 (HER-2) status, breast cancer is classified into two major types- HER-2 positive and HER-2 negative breast cancer. HER-2 negative breast cancer accounts for around 70% of all breast cancer cases wherein the cancer cells do not have higher than normal levels of the protein HER-2. The treatment landscape for HER-2 negative breast cancer has evolved significantly over the past decade with the approval of CDK 4/6 inhibitors and PARP inhibitors.
HER-2 negative breast cancer can be treated through surgery, radiation therapy, chemotherapy, hormonal therapy, targeted therapy, and immunotherapy based on the stage and other factors of the cancer. Targeted therapies that block estrogen production or inhibit estrogen from fueling cancer cell growth such as aromatase inhibitors are widely used for the treatment of hormone receptor-positive HER-2 negative breast cancer. Companies are conducting extensive research to develop new targeted and immune therapies with improved efficacy and tolerability to treat various subtypes of HER-2 negative breast cancer.
The global HER-2 Negative Breast Cancer Market is estimated to be valued at US$ 13,873.7 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 Dynamics
Increasing prevalence of HER-2 negative breast cancer is expected to drive the growth of the market during the forecast period. According to the National Cancer Institute, around 3.8 million women in the United States currently have a history of breast cancer. Over 168,000 new cases of invasive breast cancer will be diagnosed among women in 2022.Out of these, around 70% will be HER-2 negative breast cancer cases. Rising awareness initiatives by governments and adoption of sedentary lifestyle in Developing countries are also contributing to the increasing incidence of breast cancer. The availability and adoption of advanced targeted therapies with better clinical outcomes is also encouraging more patients to seek treatment, thereby fueling the market growth over the forecast period. However, high treatment cost associated with targeted therapies is a major challenge.
Segment Analysis
The global HER-2 Negative Breast Cancer Market Growth segmented into different therapies which include chemotherapy, targeted therapy, and hormone therapy. The chemotherapy segment currently dominates the market and accounted for over 50% of the total market share in 2023. Chemotherapy drugs such as paclitaxel, docetaxel, doxorubicin, 5-fluorouracil are commonly used in combination for the treatment of HER-2 negative breast cancer. The chemotherapy segment is large mainly due to high usage of traditional chemotherapeutic regimens.
Pest Analysis
Political: Government initiatives to increase awareness about breast cancer and availability of screening are driving the market growth. Strong support through regulatory policies for research is promoting drug development.
Economic: High healthcare expenditure and rising incidence of breast cancer cases is augmenting the market revenue. Growing economies provide huge patient pool and market opportunities.
Social: Increasing social campaigns by non-profit organizations for promotion of regular screening and early detection is positively impacting the market. Breast cancer survivors network provides support to newly diagnosed patients.
Technological: Advancements in targeted therapies, combination therapies, and diagnostic techniques are expanding treatment options. Developments in AI and big data analytics are assisting drug discovery and precision medicine approaches.
Key Takeaways
The global HER-2 Negative Breast Cancer market is expected to witness high growth at a CAGR of 10% during the forecast period of 2023 to 2030. regionally, North America captured over 35% of the global market share in 2023 owing to established healthcare infrastructure and increasing research funding in the US and Canada.
The Asia Pacific region is expected to grow at the fastest rate during the forecast period supported by improving access to healthcare facilities in populous countries such as China and India. Rising medical tourism and availability of low-cost treatment options in Asia are contributing to market growth.
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. Key players are actively investing in new drug development through clinical trial collaborations to expand product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
