Categories: Market Research

HER2 Inhibitors Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The HER2 Inhibitors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s HER2 Inhibitors Global Market Report 2024, 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.

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.

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The her2 inhibitors market covered in this report is segmented –

1) By Treatment: Monotherapy, Combination Therapy

2) By Application: Squamous Cell Carcinoma, Adenocarcinoma, Large Cell Carcinoma, Breast Cancer, Other Applications

3) By End User: Hospitals, Clinics, Other End Users

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.

The her2 inhibitors market report table of contents includes: