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LONDON, Aug. 31, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company, the breast cancer monoclonal antibodies market has demonstrated robust expansion, reaching a valuation of $17.81 billion in 2023 from $16.67 billion in the previous year, showcasing a commendable Compound Annual Growth Rate (CAGR) of 6.9%. Further bolstering this upward trend, the market size is anticipated to climb to $23.36 billion by 2027, driven by a projected CAGR of 7.0%.
Rising Breast Cancer Incidences Drive Market Growth
The surge in breast cancer occurrences has emerged as a pivotal factor propelling the growth of the breast cancer monoclonal antibodies market. Recent data from the American Cancer Society paints a stark picture, estimating approximately 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US alone in 2022. Moreover, Breastcancer.org, a US-based non-profit organization, reported that by January 2020, over 3.8 million women in the US had a history of breast cancer. This escalating prevalence on a global scale is expected to substantially contribute to the expansion of the breast cancer monoclonal antibody market.
Learn More In-Depth On The Breast Cancer Monoclonal Antibodies Market
Investments in Targeted and Combination Therapies Shape Market Dynamics
Companies within the breast cancer monoclonal antibodies market are strategically investing in targeted and combination therapies, which have demonstrated enhanced efficacy and reduced toxicity compared to traditional treatment methods. Targeted cancer therapies exhibit remarkable potential by selectively obstructing cancer cell progression while leaving normal cells unaffected. Combination therapy, on the other hand, leverages the power of multiple drugs to combat a single disease. Notably, the American Society of Clinical Oncology highlighted the success of combining the targeted monoclonal antibody atezolizumab with chemotherapy, resulting in improved progression-free survival for patients with triple-negative breast cancer. These advancements are projected to heighten the focus on these innovative therapies in the breast cancer monoclonal antibodies market.
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Leading Players and Regional Landscape
Prominent entities driving the breast cancer monoclonal antibodies (mAbs) market include Amgen, Mylan, Merck, Novartis, GlaxoSmithKline, Daiichi Sankyo, Biocad, Boehringer Ingelheim, Bristol-Myers Squibb, and Array BioPharma. Geographically, North America took the lead in the breast cancer monoclonal antibodies market in 2022. The comprehensive market analysis report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
As the breast cancer monoclonal antibodies market continues its upward trajectory, stakeholders and industry participants are encouraged to explore the unfolding opportunities and strategic insights provided by this thriving sector.
Breast Cancer Monoclonal Antibodies Global Market Report 2023 by The Business Research Company provides insights on the breast cancer monoclonal antibodies market size, breast cancer monoclonal antibodies market segments, breast cancer monoclonal antibodies market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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Originally published at https://www.einpresswire.com/article/653060358/the-breast-cancer-monoclonal-antibodies-market-is-expected-to-grow-at-a-rate-of-7-with-rising-breast-cancer-cases-as-per-the-business-research
