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HER2 Inhibitors: Advancing Breast Cancer Treatments
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According to The Business Research Company's, The her2 inhibitors market size has grown strongly in recent years. It will grow from $8.77 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to biotechnological advances, clinical trial success, shift in treatment paradigm, research and development investments, patient outcomes improvement.
The her2 inhibitors market size is expected to see strong growth in the next few years. It will grow to $13.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to patient-centric care models, regulatory changes and approvals, drug resistance management, global market penetration, expanded indications, precision oncology adoption. Major trends in the forecast period include patient advocacy and awareness, clinical trials and research, early detection and diagnosis, precision medicine and biomarker testing, adjuvant and neoadjuvant therapy.
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Market Drivers and Trends:
The rise in the number of breast cancer cases across the globe is likely to contribute to the growth of the HER-2 inhibitors market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in the breast cancer incidence rate globally is anticipated to boost the demand for the HER-2 inhibitors market over the forthcoming years.
Major companies operating in the HER2 inhibitor market are focused on developing treatments for HER2-low breast cancer to gain a competitive edge in the market. HER2-low breast cancer is a newly defined subset of HER2-negative breast cancer, which includes tumors that do not overexpress or make too many copies of the HER2 protein. For instance, in August 2022, AstraZeneca PLC, a UK-based pharmaceutical and biotechnology company, the U.S. Food and Drug Administration (FDA) approved Enhertu (fam-trastuzumab deruxtecan-nxki) as the first HER2-directed therapy for patients with HER2-low metastatic breast cancer. Enhertu is prescribed via intravenous infusion to address HER2-low (IHC 1+ or IHC 2+/ISH-) breast cancer in adults who have undergone prior metastatic chemotherapy or experienced disease recurrence within six months of completing adjuvant chemotherapy.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., F Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca plc, Takeda Pharmaceutical Company Limited, Eli Lilly International Corp., Gilead Sciences Inc., C.H. Boehringer Sohn AG & Co. KG, Applied Molecular Genetics Inc., Viatris Inc. US, Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Catalent Inc., Ipsen SA, Cipla Limited, the Pierre Fabre Group, Biocon Biopharmaceuticals Pvt. Ltd., Innovent Biologics Inc., Halozyme Therapeutics Inc., Seattle Genetics Inc., Zymeworks Inc., Puma Biotechnology Inc., MacroGenics Inc., Mersana Therapeutics Inc., Cellestia Biotech AG
HER2 Inhibitors Market 2024 Key Insights:
• The her2 inhibitors market size is expected to see strong growth in the next few years. It will grow to $13.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Increasing Incidence Of Breast Cancer Cases Fuels The Her-2 Inhibtors Market Growth
• Increasing Focus On Developing Treatment Forher2-Low Breast Cancerto Gain A Competitive Edge
• North America was the largest region in the HER2 inhibitors market in 2023
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