RE:RE:RE:RE:Conference in January Achievements and Progress Heading into 2025 for Oncology Treatments and Therapies Fuel an Optimistic Outlook
PALM BEACH, Fla., Dec. 26, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The breast cancer drugs market is experiencing rapid expansion due to the diverse applications of drugs in various breast cancer treatment scenarios. Predominantly utilized before and after surgery, these drugs are pivotal in managing the disease. Significant research efforts are focused on targeted therapies tailored to specific breast cancer types, particularly those characterized by overexpression of human epidermal growth factor receptor 2 (HER2). HER2-positive breast cancers, constituting 15% to 20% of cases, exhibit heightened aggressiveness, necessitating targeted interventions. Targeted drug therapy, including immunotherapy, directly addresses proteins on cancer cells, impeding their growth and proliferation. With HER2-targeted drugs demonstrating efficacy in inhibiting tumor progression, the market witnesses a surge in the development and adoption of such therapies to meet the demand for more effective treatments in combating breast cancer. According to a report from BioSpace, the global breast cancer drugs market size, which was valued at USD 32.93 billion in 2023 is projected to surpass around USD 78.61 billion by 2033, registering a CAGR of 9.09% over the forecast period of 2024 to 2033. North America dominated the market with the largest revenue share of 38.61% in 2023. Active biotech and pharma companies in the markets this week include Oncolytics Biotech(R) Inc. (NASDAQ: ONCY) (TSX: ONC), GSK plc (NYSE: GSK), AstraZeneca PLC (NASDAQ: AZN), AbbVie (NYSE: ABBV), Cardiff Oncology, Inc. (NASDAQ: CRDF).
The BioSpace report said: "Breast cancer, the second most common cancer globally, presents a significant market opportunity driven by several key factors. With breast cancer ranking as the most prevalent cancer in the U.S., affecting 1 in 8 women over their lifetime, heightened awareness and advancements in detection and treatment have significantly improved survival rates, with 90% of women surviving five years post-diagnosis. globalization and economic growth may contribute to increased incidence rates, particularly in developing countries where rates are projected to rise by 64% to 95%, and in developed countries with an expected increase of 32% to 56%. Demographic trends reveal distinct patterns, with urban areas seeing higher incidence rates among individuals aged 40--49, while rural areas report elevated rates in those aged 65--69. These demographic shifts, coupled with the imperative for earlier detection and more advanced treatment options, underscore the driving forces behind the continued expansion of the breast