by Market Overview
The global HER-2 Negative Breast Cancer Market is estimated to be valued at US$12,647.0 million in 2022 and is expected to exhibit a CAGR of 10.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. HER-2 negative breast cancer refers to a type of breast cancer that does not have an overexpression of the HER-2 protein. The market offers various treatment options such as targeted therapies, chemotherapy, and hormonal therapies to mitigate the risks associated with breast cancer. These treatment options provide better survival rates, reduce the chances of recurrence, and improve the quality of life for patients.
Market Key Trends
One key trend that will significantly impact the HER-2 Negative Breast Cancer Market is the increasing adoption of targeted therapies. Targeted therapies offer a precise and personalized approach to treating HER-2 negative breast cancer by specifically targeting cancer cells without harming healthy cells. For instance, targeted drugs like trastuzumab and pertuzumab selectively block the HER-2 protein, leading to improved patient outcomes. This trend will drive the market growth as targeted therapies become the preferred treatment choice for HER-2 negative breast cancer patients.
Porter’s Analysis
– Threat of New Entrants: The HER-2 Negative Breast Cancer Market has high barriers to entry due to the presence of established players, stringent regulatory requirements, and the need for substantial investments in research and development. This limits the threat of new entrants.
– Bargaining Power of Buyers: Buyers in the HER-2 Negative Breast Cancer Market, such as hospitals and healthcare providers, have significant bargaining power due to the availability of multiple treatment options and the importance of pricing negotiations.
– Bargaining Power of Suppliers: Suppliers, including pharmaceutical companies and drug manufacturers, have moderate bargaining power in the HER-2 Negative Breast Cancer Market. This is because there are a limited number of suppliers for key drugs, but they face competition from generics.
– Threat of New Substitutes: The threat of new substitutes in the HER-2 Negative Breast Cancer Market remains low, as targeted therapies are the most effective treatment option currently available.
– Competitive Rivalry: The market for HER-2 Negative Breast Cancer is highly competitive, with key players investing in research and development to develop innovative treatment options. This intense competition drives the market growth and enhances the overall quality of available therapies.
Key Takeaways
– The global HER-2 Negative Breast Cancer Market is expected to witness high growth, exhibiting a CAGR of 10.1% over the forecast period. The increasing prevalence of breast cancer, coupled with the growing adoption of targeted therapies, will drive the market expansion.
– North America is the dominant region in the HER-2 Negative Breast Cancer Market, with the highest market share due to well-established healthcare infrastructure, favorable reimbursement policies, and increased awareness among patients.
– Key players operating in the global HER-2 Negative Breast Cancer Market include Pfizer Inc., Novartis AG, Merck & Co. Inc., GSK PLC, AstraZeneca, Eli Lilly and Company, and Bristol-Myers Squibb Company (Celgene Corporation). These companies focus on strategic collaborations, product advancements, and acquisitions to strengthen their market presence and expand their product portfolio.
In conclusion, the HER-2 Negative Breast Cancer Market is witnessing significant growth and advancements in treatment options. The increasing adoption of targeted therapies and the presence of key players are key factors driving the market’s evolution. Continued research and development efforts will further enhance the treatment outcomes and contribute to improved patient care in the fight against HER-2 negative breast cancer.
