Hong Kong Breast Cancer Therapeutics Market Analysis

Hong Kong Breast Cancer Therapeutics Market Analysis


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The growing prevalence and recent technological advancements in Hong Kong are responsible for the market growth from $29 Mn in 2022 to $83 Mn with a CAGR of 13.9% for the year 2022-2030. The Hong Kong breast cancer therapeutics market is segmented by therapy, cancer type, and by distribution channel. Lee's Pharmaceutical Holdings Ltd, Bristol-Myers Squibb Co., and Eli Lilly and Co. are major companies in the Hong Kong breast cancer therapeutics market.

ID: IN10HKPH031 CATEGORY: Pharmaceuticals GEOGRAPHY: Hong Kong AUTHOR: Parul Choudhary

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Hong Kong Breast Cancer Therapeutics Market Executive Analysis

The Hong Kong breast cancer therapeutics market size is at around $29 Mn in 2022 and is projected to reach $83 Mn in 2030, exhibiting a CAGR of 13.9% during the forecast period. In Hong Kong, 15.9% of all government recurrent spending, or $14.8 Bn, was designated to cover ongoing healthcare costs in the fiscal year 2021–2022. Accelerating the replacement or purchase of medical equipment, introducing cutting-edge medical gadgets, and promoting primary healthcare services are additional resources allocated to improving government medical services. For the Hospital Authority's benefit, Hong Kong has begun two concurrent 10-year hospital development plans, totaling $64 Bn. These plans will allow for the expansion and modernization of healthcare facilities. The first 10-year plan will be finished by 2027 and is expected to cost $25.6 Bn USD.

In Hong Kong, breast cancer is the most prevalent kind of cancer in women. 4 761 new cases of breast cancer were reported in 2019, making up 27.4% of all new cancer cases among women in Hong Kong. At diagnosis, the median age was 58. The annual incidence rate was 117 per 100 000 women on a crude basis. In Hong Kong, breast cancer ranked third among the cancers that claimed the lives of females. This malignancy claimed the lives of 852 women in total in 2019 or 13.7% of all female cancer deaths.

Around 29%-58% of the women surveyed in Hong Kong had never heard of mammography (MMG). Women who regularly perform Breast Self-examination (BSE), Clinical Breast Examination (CBE), and MMG had respective prevalence rates of 29%–33.3%, 37.8%–44.0%, and 18.0%–32.7%. In Hong Kong, there is no comprehensive breast cancer screening program. Local recommendations for breast cancer screening and prevention are created by the Cancer Expert Working Group on Cancer Prevention and Screening. Women categorized as having a high or moderate risk of developing breast cancer were advised to have an MMG screening annually and every two to three years, respectively, by the Cancer Expert Working Group. For the overall female population at moderate risk, breast screening was not advised.

hong kong breast cancer therapeutics market

Market Dynamics

Market Growth Drivers

The growing incidence of breast cancer and technical developments are two important market drivers in Hong Kong. The Hong Kong government's efforts in healthcare and cancer research are expected to lead to an increase in the market for breast cancer therapeutics.

Market Restraints

Some of the biggest obstacles to market growth in Hong Kong include a lack of access to newer medicines and high treatment costs. The development of the breast cancer therapeutics market in Hong Kong can potentially be hampered by inadequate healthcare infrastructure and reimbursement regulations.

Competitive Landscape

Key Players

  • Shanghai Fosun Pharmaceutical (HK)
  • Sino Biopharmaceutical (HK)
  • Lee's Pharmaceutical Holdings Ltd (HK)
  • Bristol-Myers Squibb Co.
  • Eli Lilly and Co.
  • Halozyme, Inc.
  • Merck & Co., Inc.

Healthcare Policies and Regulatory Landscape

The public healthcare system in Hong Kong offers thorough and easily accessible breast cancer treatment. Through the Hospital Authority (HA) and the Department of Health, the government offers financial support for breast cancer screenings, diagnoses, and treatments. There are numerous non-profit organizations that offer assistance and knowledge to people with breast cancer and their families. The Hong Kong Cancer Fund also has a breast cancer support facility that provides a variety of services, such as counseling and rehabilitation. Through the HA's Means-tested Financial Assistance Scheme, patients may also qualify for financial aid.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Breast Cancer Therapeutics Segmentation

By Therapy (Revenue, USD Billion):

  • Radiation Therapy
    • Targeted Therapy
      • Ribociclib
      • Abemaciclib
      • Afinitor
      • Everolimus
      • Trastuzumab
      • Olaparib
      • Ado-Trastuzumab Emtansine
      • Palbociclib
      • Pertuzumab
      • Herceptin
      • Tykerb (Lapatinib)
      • Others
  • Hormonal Therapy
    • Selective Estrogen Receptor Modulators (SERMs)
    • Aromatase Inhibitors
    • Estrogen Receptor Downregulators (ERDs)
  • Chemotherapy
    • Taxanes
    • Anthracyclines
    • Anti-metabolites
    • Alkylating Agents
  • Immunotherapy

By Cancer Type (Revenue, USD Billion):

  • Hormone Receptor
  • HER+

By Distribution Channel (Revenue, USD Billion):

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 20 January 2023
Updated by: Shivam Zalke

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