Developments in the Global Male Breast Cancer Market; MRFR Unleashes Prognosis for 2018 to 2023
Industry Research Report – Male Breast Cancer forecast till 2023, is latest research report on Global Male Breast Cancer Industry Report published by MRFR
Male Breast Cancer refers to the extra growth of breast tissues. Some of the numerous factors that are causing this cancerous growth include obesity, growing age. Although breast cancer is rare in males than that of women, the FDA predicts 2,670 cases of male breast cancer in 2019.
However, the good news is that there are several FDA-approved endocrine-based therapies available for HR-positive metastatic breast cancer patients. According to the current clinical practice standards, specific treatments are gender-neutral in their indication, but some medicines have been approved only for men.
The male breast cancer market is already equipped with various effective treatments such as hormone therapy which is also called endocrine therapy or chemotherapy. The rising prevalence of the male breast cancer and the availability of effective therapeutics are two the key driving forces behind the market for breast cancer in men.
The male breast cancer market is growing slowly but steadily. In its recently published study report, Market Research Future (MRFR) assets that the market is expected to register a CAGR over 3.6% during the forecast period (2018 to 2023).
Technological advancement in medical science & biotechnology has improved the outlook for many men diagnosed, but again the recovery is still challenging as survivors adjust to the scars that remain mentally and physically.
Surprisingly, breast cancer in men is still accruing rapidly, and the changing lifestyle is to be blamed. The improving economy, on the one hand, is increasing the purchasing power of people, increasing access to the modern lifestyle and hence the growing additions such as smoking and alcoholism. On the other hand, rapidly developing economy is availing many treatment and precautionary measures, widening the access to the quality healthcare.
Other notable factors driving the market growth include increasing male geriatric population, exposure to harmful radiation, and genetic mutations (abnormal changes). The increasing governmental initiatives in terms of funding are encouraging pharmaceutical companies to develop more effective treatment procedures.
The unavailability of comprehensive treatment presages the broad scope for the market to evolve further. Hence, pharma companies are investing increasingly in R&D that can bring about breakthrough drug discoveries.
Conversely, high costs associated with the clinical trials, prolonged approvals, adverse effects of therapies or drugs are restricting the market growth. Nevertheless, the advent of effective treatments brought forward during the past few years and the approval of medication called CDK45 Inhibitors has impacted the market in a big way.
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Global Male Breast Cancer Market – Segments
For ease of understanding, the analysis has been segmented into four key dynamics: -
By Type : Ductal Carcinoma in Situ, Inflammatory Breast Cancer, Paget’s Disease of the Nipple, Inflammatory Breast Cancer, and Infiltrating Ductal Carcinoma.
By Diagnosis : Mammography, Biopsy, PET scan, CT scan, and MRI Scan among other tests.
By Treatment : Local Treatments and Systemic Treatments
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Male Breast Cancer Market – Geographical Analysis
The North American region heading with the increasing prevalence of the disease, dominates the global male breast cancer market. The growth is mostly supported by the US which is showing a growing number of male breast cancer patients. The adoption of an unhealthy lifestyle is a key driving force behind the increasing occurrences of the disease.
Fortunately, the region is a hub for medical technologies having state-of-the-art healthcare facilities equipped with novel treatments which, in turn, are driving the regional market, meeting the growing clinical needs.
The male breast cancer market in the European region accounts for the second-largest market, globally. Factors attributing to the growth of the regional market include the rapidly spreading occurrences of male breast cancer, recent advancements in medical technology, and the increasing adoption of advanced techniques. Additionally, the rising healthcare expenditure alongside government support and funding for research & development are facilitating the growth of the regional market.
The Asia Pacific male breast cancer market is rapidly emerging as a lucrative market, globally. Factors such as the increasing advancements in therapeutics, increasing adoption of advanced technologies, and the spreading awareness towards the availability of treatment procedures are driving the male breast cancer market in the region.
Moreover, the rising demand for treatment procedures especially in the rapidly developing countries such as India, China, and Japan is projected to support the market to register a phenomenal CAGR during the forecast period.
Global Male Breast Cancer Market – Competitive Landscape
Fiercely competitive the male breast cancer market appears fragmented due to the presence of numerous large & small players. Forming a well defined competitive landscape, these players incorporate strategic initiatives such as partnership, acquisition, collaboration, expansion, and technology launch.
Reputation and pricing are the two major parameters these key players compete based on. The high growth potential demonstrated by this market attracts several new entrants, resulting in intensifying the competition further. Top players are investing hugely in R&D and clinical trials to develop effective therapeutics and innovative approaches that can provide excellent outcomes.
Major Players:
Key players leading the global male breast cancer market include Pfizer, Achieve Life Sciences, Inc., Eli Lilly and Company, F. Hoffmann-La Roche, Bristol-Myers Squibb Company, Sanofi, Novartis AG, Seattle Genetics, Inc., BioNumerik Pharmaceuticals Inc., GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., AstraZeneca, Bayer AG, and Accord Healthcare among others.
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Industry/ Innovation/Related News:
April 04, 2019 ---- Pfizer Inc. (the US), a multinational pharmaceutical corporation announced that the US FDA has expanded the use of Pfizer’s Ibrance (palbociclib) capsules in the treatment of male breast cancer. The FDA decision was based on electronic health records (EHR) and post-marketing reports of the real-world use of Ibrance in men.
The FDA approval of Pfizer’s supplemental New Drug Application (sNDA) makes Ibrance first-line treatment available for men with a subset of advanced breast cancer – i.e., with metastatic breast cancer (hormone receptor-positive (HR+) and human epidermal growth factor receptor 2-negative (HER2-)).
Due to the new FDA policy, Ibrance has become the first and only CDK 4/6 inhibitor to be given the nod in the US for first-line treatment for advanced metastatic breast cancer in men.
That puts Pfizer ahead of rivals such as Novartis’ Kisqali (ribociclib) and Eli Lilly’s Verzenios (abemaciclib). The FDA approval further allows Pfizer to take a step forward using the real-world data to bring medicines to patients who are most in need.
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