Breast Cancer Therapy Market to reach $59 billion by 2030; the increasing prevalence of breast cancer, technological advancements in detection and treatment options, growing awareness and emphasis on early detection, and rising R&D investment in brea

The Breast Cancer Therapy Market size is estimated to reach $59 Billion by 2030, growing at a CAGR of 9.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Breast Cancer Therapy Market – By Diagnostic Procedures (Imaging, Biopsy, Genetic Testing, Blood Tests, Others), By Stages of Breast Cancer (Stage 0, Stage I, Stage II, Stage III, Stage IV), By Age Group (Below 40 years, 40-60 years, Above 60 years), By Therapy Type (Surgery, Radiation Therapy, Chemotherapy, Hormonal Therapy, Targeted Therapy, Immunotherapy, Others), By End User (Hospitals, Oncology Clinics, Cancer Research Institutes), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

The increasing prevalence of breast cancer is driving the demand for therapy. Technological advancements in detection and treatment options are boosting the market. Growing awareness and emphasis on early detection is contributing to higher demand. Rising funding and investment in breast cancer research are also are fueling the growth of the Breast Cancer Therapy industry during the forecast period.

North America accounted for the largest share of 35% of the Breast Cancer Therapy Market in 2023. North America dominates the breast cancer therapy market owing to its well-developed healthcare system, well aware public, and massive expenditure in research and development. In a May 2024 article on breast cancer statistics, the Canadian Cancer Society estimates that in 2024, 30,500 Canadian women will be diagnosed with breast cancer, which represents 25 % of all new cancers among women. In addition, 13% of all women cancer related deaths are expected from breast cancer in Canada representing about 5,500 deaths. Demand for innovative therapies in the face of high incidence and mortality rates contributes to the need for innovation in breast cancer treatment and clinical trial activities in North America.

The high incidence of breast cancer is a key driver in the Breast Cancer Therapy Market, as increasing cases globally create a growing need for effective treatment solutions. As per a January 2024 journal published by the American Cancer Society namely 'Breast Cancer Survival in India across 11 Geographic Areas under the National Cancer Registry Programme', breast cancer is the most common cause of cancer in women across the world accounting for one-quarter of all female cancer cases. The journal further states, breast cancer is the most common form in India, comprising 28.2 % of female cancers generally and deaths from the South-East Asia region are projected to increase by 61.7 per cent by 2040. Rising prevalence of breast cancer, especially in developing regions, demands new therapeutic options, providing impetus to the rise in the Breast Cancer Therapy Market and fostering innovation in treatment approaches globally. 

The growing awareness of breast cancer, supported by initiatives like Metastatic Breast Cancer Awareness Day, significantly drives the breast cancer therapy market. Observed annually in the U.S. on October 13, this day emphasizes the importance of research funding and public education on metastatic breast cancer, which affects around 168,000 women across the country, according to the Breast Cancer Organization. Approximately 30% of early-stage breast cancer cases eventually metastasize, highlighting the urgent need for advanced treatments. Established in 2009, this day serves to increase public knowledge and encourage investment in research for innovative therapies. As awareness campaigns like these continue to spotlight the prevalence and severity of metastatic breast cancer, demand for effective treatments and therapeutic advancements is likely to rise, fueling market growth. 

Key companies profiled in the Breast Cancer Therapy Market are F.Hoffmann-La Roche Ltd, Novartis AG, AstraZeneca, Pfizer Inc., Eli Lilly and Company, Bristol Myers Squibb (BMS), Merck & Co., Inc., Amgen Inc., Celgene, AbbVie and others.

Cancer Diagnostics Market - The Cancer Diagnostics Market size is estimated to reach $241.7 billion by 2027, growing at a CAGR of 6.3% during the forecast period 2022-2027. The growth of this market is driven by increasing prevalence of cancer, advancements in diagnostic technologies, and rising awareness for early cancer detection.

Cancer Biomarkers Market - The Cancer Biomarkers Market size is estimated to reach $25.2 billion by 2027, growing at a CAGR of 11.7% during the forecast period 2022-2027. The market growth is driven by the increasing adoption of biomarkers in personalized medicine, growing demand for non-invasive diagnostic methods, and advancements in biomarker research.

Cancer Immunotherapy Market - The Cancer Immunotherapy Market Size is estimated to reach $152.6 billion by 2028 and it is poised to grow at a CAGR of 14.7% over the forecast period of 2023-2028. The market growth is driven by the rising prevalence of cancer, the growing adoption of immunotherapies, and ongoing advancements in immune checkpoint inhibitors and CAR-T cell therapies.