Rising prevalence of breast cancer and blood-related disorders among the growing population is surging demand for triple-negative breast cancer treatment solutions. Increasing focus on research & development in therapeutic areas such as oncology and adoption of new treatment therapies for breast cancer are further expected to spur the expansion of the triple-negative breast cancer treatment market size in the near future.
According to the World Health Organization (WHO), cancer is the second-leading cause of death, globally - around 1 in 6 deaths is due to cancer, with an estimated 9.6 million deaths in 2018. WHO estimated around 2.09 million breast cancer cases were found worldwide. Thus, rising prevalence of breast cancer and increasing aging population along with changing lifestyles are expected to drive the growth of the triple-negative breast cancer treatment market.
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- AstraZeneca PLC
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
- F. Hoffman - La Roche Ltd.
- Bristol-Myers Squibb Company
- Novartis AG
- Mylan N.V.
- Eli Lilly and Company
- Celgene Corporation
- Sanofi S.A.
Strategic Product Launches by Leading Players to Propel Market Expansion
Industry players are focusing on expansion of innovative products to get early market entry and a high triple-negative breast cancer treatment market share. Players in the triple-negative breast cancer treatment market are focusing on improvement of their product offerings by entering into collaborations, acquisitions, and promotions. These key trends are being seen across North America, Europe, and in Asian countries such as Malaysia, Japan, and China. Such strategies also enable companies to accelerate their market reach and revenue gain.
- For instance, in November 2020, Roche partnered with the Government of Kenya to improve breast cancer care. This initiative was committed for expanding access to prevention and treatment services for women suffering from breast cancer.
In March 2020, CEL-SCI developed an immunotherapy to treat COVID-19, and would reduce tissue damage and other related diseases. Associated antigenic peptide(s) sequences have already been identified, including several other infectious diseases, some types of cancer, allergic asthma and allergy, select CNS diseases such as Alzheimer’s, and autoimmune diseases such as rheumatoid arthritis.
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Regional Outlook of Triple-Negative Breast Cancer Treatment Market
North America is a dominant region in the global triple-negative breast cancer treatment market in terms of revenue share. This reflects the increasing prevalence of cancer and rising number of trails for combination therapies to treat cancer in the region. According to the National Cancer Institute, in 2020, 1.8 million people will be diagnosed with cancer in the United States. An estimated 276,480 women and 2,620 men will be diagnosed with breast cancer, which makes it the most common cancer diagnosis.
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COVID-19 Impact on Triple-Negative Breast Cancer Treatment Market
The COVID-19 pandemic has exhibited a short-term negative impact on the global triple-negative breast cancer treatment market, affecting manufacturing industries as well as oncology healthcare set-ups, leading to delay in diagnosis, postponement of routine screening, etc., in order to reduce time spent in hospitals to avoid the risk of infection. High funding from regional governments and leading companies for expansion of existing facilities and construction of new facilities is being done to tackle the COVID-19 pandemic. In addition, enhancing unique vaccine CDMO capabilities and capacity with technological advancements is a core strategy followed by leading CDMO players.
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An extensive analysis of the triple-negative breast cancer treatment market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, paclitaxel is a dominant segment for major players in terms of revenue. North America holds more than 40% of revenue share due to rising prevalence of breast cancer in the region. Emerging countries such as India and Brazil are expected to offer lucrative opportunities for the stakeholders in the triple-negative breast cancer treatment market, owing to increasing cases of COVID-19, high pool of patients, and rising awareness among the population.