The key influencers that drive this market include the adoption of an unhealthy lifestyle, exposure to harmful radiation, increasing female geriatric population, increasing governmental initiatives, and increasing number of females suffering from breast cancer. However, there are some factors that can hamper the growth of this market. Such factors include adverse effects associated with the therapy, high cost of the treatment, and long approval time for the drugs.
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Breast cancer is defined as a type of cancer where a lump is formed in the breast,and red patches appear on the skin when cells of breast tissue become cancerous.Market Research Future (MRFR) has published and released a research report about the global breast cancer market that anticipates great boost with 9.2% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023.Observing the market structure, this report evaluates the future growth potential of the market and analyzes the approaches of the key players in the market. It also follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
Accord Healthcare, Inc. (India), Actavis Inc. (USA), AptheraInc (UK), Astellas (Japan), AstraZeneca (UK), Bayer AG (Germany), BioNumerik Pharmaceuticals (USA), Bipar Sciences (USA), Bristol-Myers Squibb Company (USA), Eli Lilly and Company (USA), F. Hoffmann-La Roche (Switzerland), Genentech (USA), Gilead Sciences Inc. (USA), GlaxoSmithKline (UK), Hospira, Inc. (USA), Novartis AG (Switzerland), Oncogenex (USA), OncothyreonInc (USA), Pfizer (USA), Puma Biotechnology (USA), Sanofi S.A. (USA), Sun Pharmaceutical Industries Ltd (India), and Teva Pharmaceutical Industries (Israel).
· The global Breast Cancer Market has been segmented on the basis of end user, treatment, type, and lastly, region.
· Based on end users, this market has been segmented on the basis of hospital pharmacies, private pharmacies, and others.
· The treatment-based segmentation of this market covers biologic therapy, chemotherapy, hormone therapy, surgery & radiation therapy, and targeted therapy.Chemotherapy has been further segmented into alkylating agents, antimetabolites, anthracyclines, and taxanes.The targeted therapy has been further segmented into monoclonal antibodies and tyrosine kinaseinhibitors.
· By type-based segmentation, the market has been segmented into invasive ductal carcinoma, invasive lobular carcinoma, others
The regional segmentation of the global breast cancer market segments the market into regional markets namely The Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA). The Americas dominate the global market.Changing lifestyle and increasing prevalence of breast cancer in the Americas has driven the growth of the market.In the Americas, North America is a bigger market than South America because more advanced medical facilities being available in North America and many key players in the market is based in Canada and the United States of America (USA).
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According to the report, Asia Pacific is expected to emerge as the fastest growing market during the forecast period. The most significant country-specific markets in the Asia Pacific region are Australia, China, Japan, and South Korea, followed by the rest of Asia Pacific. MEA region is a small market.The market is low due to lack of awareness, lack of education, lack of technological development, political instability, poor healthcare, and healthcare not considered a priority by most governments. The most important country-specific markets in this region are Kuwait, Oman, Saudi Arabia, Qatar, and the United Arab Emirates (UAE).
The second biggest market isin Europe. Due to the reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most significant country based markets in Western Europe are France, Germany, Italy, Spain, and the United Kingdom (UK).Technological advancement, increased life expectancy and increasing disposable income regarding healthcare expenditure of people are driving the market growth in the Americas and Europe.