Bone Cancer Treatment Market
Market Overview:
In 2018, the global bone cancer treatment market was valued at USD 62.865.6 million and is estimated at USD 83.770.9 million in 2024, while a CAGR of 4.93 percent was observed. Increasing the incidence of bone cancer and increasing public efforts for awareness of bone cancer include certain factors that drive market growth.
Bone cancer incidences are rising steadily and need to be resolved wisely at the earliest opportunity to decrease the burden of bone sarcoma worldwide.
The United States was expected to witness 3,450 new cases of bone cancer, and an expected 1,590 deaths due to bone cancer in 2018, according to estimates by the American Society of Clinical Oncology.
In addition, in order to improve the survival rate, it is essential to ensure timely diagnosis and therapy. Many government agencies are taking measures to raise bone cancer awareness. The UK government, for example, formed an organization called Genomics England after the launch of the 100,000 Genomes Project in 2012. Genomic England is accountable for sequencing NHS-registered patients with 100,000 genomes from 700,000 genomes.
However, the chemotherapeutic drugs authorized for bone cancer treatment do not have an efficient therapy system, as it always differs depending on the prevailing circumstances and how the body of the patient reacts to the drug. The associated side effects, risks and therapy limitations limit the growth of the global bone cancer treatment drugs market..
The Reports Scope:
Bone cancer relates to a malignant tumor from the bodys bone cells. As it originates in the bones, it is also known as primary bone cancer. A secondary cancer of the bone relates to a tumor that has spread but originated elsewhere in the bone region. A thorough assessment of the bone cancer therapy industry with particular attention to primary bone cancer is provided in this study.
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Key Market Trends:
Osteosarcoma is Expected to Hold the Largest Market Share of the Primary Type of Bone Cancer:
Osteosarcoma is anticipated to have the biggest market size in the bone cancer type section of the bone cancer therapy industry, with a CAGR of 6.31 percent over the forecast period.
Osteosarcoma is the most prevalent form of bone-related cancer that happens mostly in kids and young adults. Osteosarcoma is classified as high, medium, and low-grade based on the cells. According to the American Cancer Society, in the United States, about 800 to 900 new cases of osteosarcoma are diagnosed each year, with about half of these occurring in children and adolescents.
Osteosarcoma research is carried out throughout the globe at multiple medical centers, university hospitals, and other organizations. Over the last few decades, many advances have been made in the treatment of osteosarcoma. Osteosarcoma can be handled through surgery, radiation therapy, chemotherapy, targeted therapy drugs, etc. As a result of the elevated incidence of osteosarcoma, study on the bone cancer treatment market is growing worldwide.
The Market Dominates North America and is expected to do the same in the Forecast Period:
North America presently dominates the market for bone cancer treatment, and its stronghold is anticipated to persist for a few more years. This region is anticipated to boost its market share in the future due to the reality that many clinical trials are presently ongoing for bone cancer therapies in the region, primarily in the United States. New chemicals are being tested in some research. Researchers are also seeking fresh methods of using the current authorized portfolio of drugs. For instance, doctors are studying whether adding a bisphosphonate called zoledronic acid Zometa to the bone cement, which is used in filling the space left after removing a giant cell tumor, may decrease the chances of that tumor returning in that place.
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Competitive Landscape:
The global market for the treatment of bone cancer is highly competitive and consists of a significant number of players. All current players on the worldwide market for bone cancer treatment are either legacy providers of treatment alternatives, such as chemotherapy and radiation therapy, or focus on clinical trials for new solutions to bone cancer, including targeted therapy and immunotherapy. Companies such as Bayer AG, Amgen, Novartis AG, and Pfizer Inc. are anticipated to retain significant market share in the market for bone cancer therapy.
Different innovations have lately occurred on the market. Dr. Reddys Laboratories DRL, for instance, extended strategic cooperation with Amgen in September 2016 to market and distribute Xgeva denosumab , Vectibix panitumumab , and Prolia denosumab in India.
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