HER2 inhibitors market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to grow at a CAGR of 9% in the above mentioned forecast period.
Human epidermal growth factor receptor (HER2) inhibitors are tyrosine kinase inhibitors or monoclonal antibodies that slow down or stop the cell growth hence reducing the risk for cancer growth. Human epidermal growth factor receptors are the transmembrane receptors that have a transmembrane receptor, extracellular building component and intracellular tyrosine kinase component.
Rise in the prevalence of breast cancer and gastric cancer is the major factor that will accelerate the market growth. Furthermore, growing healthcare expenditure, increase in the investment for research activities, growing government funding and rising initiatives by government and private organisations to spread awareness about the cancer are the factors that will expand the HER2 inhibitors market.
Rise in the research and development activities and upsurge in the sale of approved HER2 inhibitors in the will provide beneficial opportunities for the HER2 inhibitors market in the forecast period of 2021-2028.
However, high cost of treatment, side effects of HER2 inhibitors, uncertainties in the introduction of herceptin biosimilars and presence of alternative treatment options are the factors that will act as market restraints and will further challenge the HER2 inhibitors market in the forecast period mentioned above.
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North America dominates the HER2 inhibitors market due to the presence of major key players, high sale of approved HER2 inhibitors due to rising prevalence of breast cancer, high healthcare expenditure and well-developed healthcare sector in this region. Asia-Pacific is expected to grow during the forecast period of 2021-2028 due to the increasing research and development activities, increasing incidence of cancer, rising investment in the healthcare sector and growing government support.
The major players covered in the HER2 inhibitors market report are Biocon, F. Hoffmann-La Roche Ltd., AbbVie Inc., Merck Sharp & Dohme Corp., Novartis AG, Mylan N.V., Puma Biotechnology, Inc., Pfizer Inc., Boehringer Ingelheim International GmbH., Johnson & Johnson Private Limited, Genentech, Inc., GlaxoSmithKline plc, among other domestic and global players.
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