Rise in prevalence of breast cancer will drive Southeast Asia market growth; report

The Southeast Asian breast cancer market, which covers South Korea, Singapore, Taiwan, Malaysia, the Philippines, Thailand, Vietnam and Indonesia, is set to rise from $942.3 million in 2015 to $2.7 billion in 2022, representing a compound annual growth rate of 16.2%.

According to business intelligence provider GBI Research’s latest report, this relatively strong growth can be attributed to increases in diagnosed prevalence, and the annual cost of therapy due to higher uptake of costlier drugs.

Deekshita Allavarapu, an analyst for GBI Research, explains: “In 2012, around 1.7 million new cases were diagnosed globally, making it the most common cancer in women. Previously, the majority of these incident cases occurred in developed regions such as the US and Europe, while less developed countries, including several Southeast Asian countries, had lower incidence.