Request ConsultationAstraZeneca has recently made headlines with its approval for Enhertu (trastuzumab deruxtecan) for the treatment of HER2-positive breast cancer. The European Medicines Agency (EMA) granted accelerated approval for the drug, marking a significant step forward in treating patients with advanced breast cancer. The approval follows clinical trial data showing that Enhertu improved progression-free survival rates, offering new hope for patients with previously limited options. This approval reinforces AstraZeneca's position in the breast cancer treatment market and highlights the ongoing innovations in the field.
“Countries like the U.S., Canada, and several European nations are expanding access to breast cancer screenings, resulting in higher rates of early-stage detection. This shift toward early detection is associated with improved survival rates, as localized breast cancer has a 5-year survival rate of over 90%.’’
In recent years, breast cancer has remained a major focus in the global oncology market, and its growth prospects continue to attract significant investments. The global breast cancer market is expected to experience substantial growth due to increasing prevalence, rising awareness, and advancements in treatment options.
- Breast cancer remains the most common cancer in women worldwide, with over 2.3 million new cases annually.
“In 2024, the CEO of Merck & Co., Robert M. Davis, stated that with the expansion of Keytruda in breast cancer, we are working towards revolutionizing treatment for triple-negative breast cancer. This therapy is a major leap forward in the oncology landscape, and we are dedicated to its continued research to maximize its potential."
Breast Cancer Market Size and Forecast 2023 to 2032
The global breast cancer market size was valued at USD 31.51 billion in 2024 and is projected to surpass around USD 73.68 billion by 2032, expanding at a solid CAGR of 9.9% during the forecast period.
Breast Cancer Market Key Highlights:
- By therapy, the targeted therapy segments involved the largest market.
- By cancer type, the hormone receptor segments extend the market share at the largest rate.
- By distribution channel, the hospital pharmacies segments developed their own pharmacies in the hospital with the highest market share.
- By geography, The North American region holds the highest position in the market with increased market share. North America leads the breast cancer market with the largest share, driven by advanced healthcare infrastructure, higher treatment availability, and strong funding for oncology research.
- In 2023, the U.S. National Cancer Institute (NCI) allocated over $200 million specifically to breast cancer research, reflecting the priority of this disease in oncology and driving innovation in treatment development and clinical trials.
Increased R&D, Improved Tools: Recent Highlights from Breast Cancer Companies
- Significant increase in R&D spending by key market players to discover and develop new breast cancer treatments. Enhanced focus on personalized and precision medicine, with targeted therapies and immunotherapies showing promising results.
- Increased use of AI and machine learning in diagnostics to shorten the time required for diagnosis and improve accuracy.
- New treatments and drug formulations are continuously being introduced, expanding options for breast cancer patients, particularly in late-stage or hard-to-treat cases.
- Breakthroughs in combination therapies and immunotherapies have notably improved patient outcomes.
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About the Authors
Aditi Shivarkar
Aditi, Vice President at Precedence Research, brings over 15 years of expertise at the intersection of technology, innovation, and strategic market intelligence. A visionary leader, she excels in transforming complex data into actionable insights that empower businesses to thrive in dynamic markets. Her leadership combines analytical precision with forward-thinking strategy, driving measurable growth, competitive advantage, and lasting impact across industries.
Aman Singh
Aman Singh with over 13 years of progressive expertise at the intersection of technology, innovation, and strategic market intelligence, Aman Singh stands as a leading authority in global research and consulting. Renowned for his ability to decode complex technological transformations, he provides forward-looking insights that drive strategic decision-making. At Precedence Research, Aman leads a global team of analysts, fostering a culture of research excellence, analytical precision, and visionary thinking.
Piyush Pawar
Piyush Pawar brings over a decade of experience as Senior Manager, Sales & Business Growth, acting as the essential liaison between clients and our research authors. He translates sophisticated insights into practical strategies, ensuring client objectives are met with precision. Piyush’s expertise in market dynamics, relationship management, and strategic execution enables organizations to leverage intelligence effectively, achieving operational excellence, innovation, and sustained growth.
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