It is anticipated that the leading market players would aim at acquiring the small and defunct players in order to expand their geographical presence. Furthermore, there are no barriers to the entry of new players in the market which is expected to clutter the market over the forthcoming years. Some of the key players identified by Transparency Market Research (TMR) include Pfizer, Inc., Genentech Inc. by F. Hoffmann-La Roche Ltd., Novartis AG, Bio-Techne by Novus Biologicals, and Abnova Corporation.
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Transparency Market Research (TMR) analyzed the global market for HER2 antibodies to find that the CAGR for the global market during the period between 2017 and 2025 is expected to settle at 8.60%. Furthermore, the market was valued at US,087.8 mn in 2016 and is expected to elevate to a stellar value of US,669.1 mn by 2025-end.
- High Incidence of Breast Cancer to Drive Demand
Statistics show the incidence of breast cancer has increased by leaps and bounds over the past decade. There are around 200 types of cancers according to the world health organization (WHO), and breast cancer is amongst the most common ones. The prevalence of various types of cancers has persuaded the pharmaceutical companies to engage in core research and development to come up with novel therapeutics. Hence, the demand within the global market for HER2 antibodies has been escalating in recent times. It is not possible to ascertain a single reason for breast cancer, but some of the factors associated with the high incidence of the disease include obesity, alcohol consumption, late pregnancy, and early-age menstruation. Despite the stellar rate of market growth, the low awareness levels of the masses in the third world countries could hamper market growth.
