NEW YORK, Dec. 16, 2020 /PRNewswire/ -- Significant rise in awareness about preventative therapies is anticipated to drive the triple-negative breast cancer treatment market during the forecast period. According to WHO, the risk of developing cancer before the age of 75 years is around 20.2% and that of dying from cancer before the age of 75 years is around 10.6%. According to the American Cancer Society, in 2019, around 268,600 new cases of invasive breast cancer were diagnosed among women and approximately 2,670 cases were diagnosed in men. Thus, rising prevalence of breast cancer among the population is expected to propel the growth of the triple-negative breast cancer treatment market over the coming years.
Persistence Market Research predicts that the global triple-negative breast cancer treatment market will exhibit a CAGR of around 5% over the forecast period (2020-2030).
Key Takeaways from Triple-Negative Breast Cancer Treatment Market Study
- Based on drug, paclitaxel is expected to gain traction in the global triple-negative breast cancer treatment market during the forecast period, owing to its efficacy.
- The hospital pharmacies segment is expected to be the most attractive segment in the global triple-negative breast cancer treatment market by distribution channel, and will hold the highest market share.
- North America will dominate the global triple-negative breast cancer treatment market by region over the forecast period, owing to growing population, rising prevalence of breast cancer, and excessive consumption of tobacco and alcohol.
- The triple-negative breast cancer treatment market is expected to experience a short-term negative impact during the COVID-19 pandemic crisis, owing to labor shortage, transportation restrictions, supply chains issues, and shortage of medical instruments for cancer.
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"Rising prevalence of breast cancer, increased focus on innovation of robust drug pipeline and combination therapies, developments in therapeutic areas, and growing concerns about maintaining environmental hygiene after the COVID-19 outbreak are factors expected to contribute to the growth of the global triple-negative breast cancer treatment market," says a PMR analyst.
Accelerated Expansion and Acquisitions & Collaborations by Leading Industry Players to Meet Unmet Demand
Leading manufacturers in the global triple-negative breast cancer treatment market are extensively focusing on expansion of their manufacturing. Government initiatives such as awareness programs, investments by regional manufacturers, and increasing healthcare expenditure are some of the key trends expected to drive the triple-negative breast cancer treatment market over the coming years.
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- For instance, in April 2018, Servier acquired Shire's oncology business to gain direct commercial access in the U.S. At present, Servier offers Oncaspar in the U.S. Prior to this, Shire and Baxalta were involved in a US$ 32 billion merger in 2016.
- Additionally, in January 2018, Sanofi announced its plan to acquire ELOCTATE.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the triple-negative breast cancer treatment market in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030, on the basis of drug (doxorubicin, cyclophosphamide, paclitaxel, docetaxel, carboplatin/cisplatin, and others) and distribution channel (hospitals, cancer research institutes, and retail clinics), across seven key regions.
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