by Breast cancer is the most common type of cancer affecting women worldwide. HER-2 negative breast cancer refers to breast cancer cells that lack the human epidermal growth factor receptor 2 which is an essential growth factor protein for these cancer cells. Treatment for HER-2 negative breast cancer includes chemotherapy, radiation therapy, hormonal therapy, and targeted drug therapy.
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 key trends
The increasing prevalence of breast cancer is a major driver of growth for the HER-2 negative breast cancer market. According to the World Cancer Research Fund International, breast cancer is the most commonly occurring cancer in women worldwide, with an estimated 2.3 million new cases diagnosed in 2020. Around 80% of breast cancer diagnosed is HER-2 negative. Factors such as lifestyle changes, obesity, lack of physical activity, alcohol use, and aging population have contributed to the rising incidence of breast cancer globally. The growing prevalence of the disease has increased the demand for effective treatment options for HER-2 negative breast cancer, propelling the market growth over the forecast period.
SWOT Analysis
Strength: HER-2 negative breast cancer market has good diagnosis options and treatment facilities in developed regions. Introduction of new targeted therapies is providing better treatment outcomes.
Weakness: Lack of awareness about early detection in developing regions. High cost of targeted therapies remains a challenge.
Opportunity: Increasing research focusing on combination therapies and immunotherapy can further improve treatment efficacy. Growing healthcare expenditure in emerging markets creates new opportunities.
Threats: Expiry of patents may increase generic competition. Stringent regulations for drug approval can delay new product launches.
Key Takeaways
The global HER-2 Negative Breast Cancer Market Growth is expected to witness high growth. North America is currently the dominant region for HER-2 negative breast cancer market owing to high diagnosis and treatment rates. Asia Pacific is expected to be the fastest-growing region over the forecast period due to rising healthcare expenditure, availability of generics, and increasing focus on cancer screening.
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. Pfizer Inc., Novartis AG and Merck & Co. Inc. are currently dominating the market and are investing significantly in research and development of innovative targeted therapies for HER-2 negative breast cancer treatment.
Regional analysis North America is currently the dominant region for HER-2 negative breast cancer market owing to high diagnosis and treatment rates. Asia Pacific is expected to be the fastest-growing region over the forecast period due to rising healthcare expenditure, availability of generics, and increasing focus on cancer screening.
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. Pfizer Inc., Novartis AG and Merck & Co. Inc. are currently dominating the market and are investing significantly in research and development of innovative targeted therapies for HER-2 negative breast cancer treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
