Asia Pacific Breast Cancer Therapeutics Market size valued at USD 4.2 billion in 2021 and is expected to expand at a CAGR of 9.2% from 2022 to 2028.
Breast cancer therapeutics comprises drugs for the treatment of breast cancer, a type of cancer that starts in the breast that can occur in women and rarely in men. The symptom of the breast cancer includes a lump in the breast, irritation of breast skin, redness or peeling skin in the breast area, pain in any area of the breast, etc. These medications find their application in reducing the growth of cancer, shrinking a tumor, and surging the chance of curing the condition. Breast cancer therapeutics include targeted therapy, chemotherapy, and hormonal therapy among others.
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The increasing prevalence of breast cancer in several countries across the Asia Pacific region is anticipated to have a positive impact on breast cancer therapeutics market revenue. Breast cancer is among the most prevalent types of cancer, inflicting significant mortality among women in Asia. The proportional contribution of the Asia Pacific region to the global breast cancer rates is rapidly surging attributed to the notable incidence rate of breast cancer in the countries across the region.
A host of factors such as genetic characteristics, family history of breast cancer, early menarche or menopause, alcohol consumption, obesity, and use of some medications are associated with this increased prevalence of breast cancer. Moreover, the mortality-to-incidence ratios in the Asia Pacific region are much higher than in the Western countries. The rising incidence and high mortality rate associated with breast cancer are projected to drive the market size.
Supportive initiatives undertaken by the local governments & public organizations are expected to increase awareness regarding the disease and encourage patients to undergo optimal breast cancer treatment. For instance, Breast International Group (BIG) collaborated with the Breast Disease Professional Committee of CMEA (BDPCC), China; the Korean Cancer Study Group (KCSG), South Korea; and the Thai Society of Clinical Oncology (TSCO), Thailand to foster research collaborations concerning breast cancer. Similarly, the Breast Health Global Initiative (BHGI), an alliance of public & private organizations issues supportive guidelines for early detection and therapeutics of breast cancer in low- and middle-income countries in Asia to improve awareness and clinical outcomes. Furthermore, some countries in the region such as South Korea, Japan, Singapore, and Taiwan among others have started population-based screening campaigns.
Asia Pacific Market, By Therapy
The Asia Pacific breast cancer therapeutics market size from targeted therapy segment was over USD 3 billion in 2021, owing to the extensive advantages offered by these targeted therapies in breast cancer treatment.
This therapy is a type of cancer therapy that uses drugs to precisely target breast cancer cells without affecting normal cells, thereby helping in overcoming several limitations related to traditional therapeutics. Targeted therapy is assisting oncologists to shift focus from reaction to prevention and it has been significantly efficient in patients with advanced stages of breast cancer. Many healthcare providers recommend using these therapies in combination with other therapies for more precise clinical outcomes. Further, ongoing R&D activities have enabled the effective designing of promising targeted therapies that individually target distinct breast cancer.
Moreover, the advent of novel technologies in the biotechnology field has enabled advancements in these therapies through innovative approaches. This is proving to be an efficient potential therapy with promising therapeutic outcomes in breast cancer treatment. The surging awareness pertaining to an early-stage breast cancer diagnosis is also highlighting the increasing need for breast cancer therapeutics in the coming years. As a result, several countries in the region comprising China and Japan are emphasizing on establishing novel strategies to enhance access to high-quality cancer care.
Asia Pacific Breast Cancer Therapeutics Market, By Country
Japan breast cancer therapeutics market will surpass USD 2 billion revenue by 2028, attributed to the surging prevalence of breast cancer, product launches, and well-developed healthcare system covering cancer care expenses in the country.
As per the GLOBOCAN 2020 database, around 92,024 new breast cancer cases were diagnosed that accounted for 8.9% of all cancer cases in Japan. This significant disease prevalence is set to proliferate business growth in near future. The high-unmet medical needs pertaining to the target disease segment, coupled with constantly improving healthcare expenditure in the country are also contributing to the market growth.
Competitive Industry Landscape
Major players involved in Asia Pacific breast cancer therapeutics market include Astrazeneca, Eli Lilly, Pfizer, BMS, Novartis, Amgen, and Roche.
These industry players are engaged in several strategic initiatives such as mergers & acquisitions, product launch, distribution agreements to maintain their market position. For instance, in July 2020, AstraZeneca announced the commercialisation agreement with Daiichi Sankyo Company, Limited for the development of potential new medicine for the treatment of multiple tumour types comprising breast cancer. This collaboration helped the company to bolster its product offerings and expand its commercial presence in the region.