by 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 10.1% 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 is the most common type of breast cancer. It occurs when the cancer cells do not have an excess of the HER-2 protein on their surface. HER-2 negative breast cancer progresses slowly and has a better prognosis compared to HER-2 positive breast cancer. Chemotherapy and hormonal therapy are commonly used treatment options for HER-2 negative breast cancer to destroy cancer cells or slow their growth. New targeted therapies are in development to improve treatment outcomes.
Market key trends:
One of the key trends in the HER-2 negative breast cancer market is the rising regulatory approvals for new drug formulations. In 2022, the US FDA approved Enhertu, a HER2-directed antibody and ADC, for adjuvant treatment of adult patients with HER2-positive breast cancer. This expanded the treatment options for HER2-positive breast cancer patients. Continuous investments in R&D of innovative drugs and formulations are expected to drive the market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the HER-2 negative breast cancer market is low as it requires huge R&D investments and clinical trial costs to develop new drugs. The market is dominated by major pharmaceutical companies.
Bargaining power of buyers: The bargaining power of buyers is low due to the availability of few treatment options and no generic drugs availability. Patients have to rely on the drugs provided by manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is high since the raw material supply markets are fragmented with the presence of many global suppliers. Suppliers can influence prices.
Threat of new substitutes: There exists a moderate threat of new substitutes as research focuses on developing novel targeted therapies with higher efficacy and improved safety profiles than existing chemotherapies.
Competitive rivalry: The competitive rivalry is high among large players due to pricing pressures and competition for market share through new product launches.
Key Takeaways
The Global Her-2 Negative Breast Cancer Market Size is expected to witness high growth, exhibiting CAGR of 10.1% over the forecast period, due to increasing prevalence of breast cancer across the world. The market size for 2023 is estimated at US$ 13,873.7 Mn.
Regionally, North America is expected to dominate the global HER-2 negative breast cancer market during the forecast period. This is attributed to rising breast cancer incidences, developed healthcare infrastructure, and increased healthcare spending. However, Asia Pacific is anticipated to exhibit the highest growth rate owing to improving healthcare facilities and growing awareness about breast cancer.
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 focused on obtaining regulatory approvals forlate stage pipeline drugs and expanding geographical presence for sustained revenue growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
