How Has the Bone Cancer Treatment Market Size Evolved in Recent Years?
The bone cancer treatment market has seen considerable growth due to a variety of factors.
•The market size for bone cancer treatment has seen significant growth in the last few years. It is projected to expand from $1.3 billion in 2024 to $1.37 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.5%.
This development during the historical period can be traced back to progress in imaging technologies, sophistication of biopsy procedures, breakthroughs and advancements in medicine, enhancement in healthcare infrastructure and advances in supportive care.
What are the Market Size and Expected Growth Rates for the Bone Cancer Treatment Market?
The bone cancer treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for bone cancer treatments is anticipated to experience vigorous growth in the upcoming years, expanding to a worth of $1.73 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%.
This anticipated growth during the forecasted period is due to evolving healthcare policies, transition to more patient-focused care structures, broadening of telemedicine and remote patient monitoring, a rise in the number of cancer diagnoses, lack of effective therapies, and side effects. Key trends projected in this period include governmental efforts to promote bone cancer awareness, tech innovation in healthcare devices, accelerated research and development, investigation and application of gene-altering technologies, and increased partnerships among academic institutions, pharmaceutical companies, and healthcare providers.
Which Key Drivers Are Propelling The Bone Cancer Treatment Market's Growth?
The bone cancer treatment market is projected to grow due to the escalating incidence of bone cancer. Bone cancer is a collection of malignant tumors that originate from bone tissue, developing when bone cells divide and multiply anarchically, thus forming a lump or tumor. The objective of bone cancer treatments is to provide numerous benefits for those suffering from the disease. Such treatments have been employed to cure various bone cancers through surgical procedures, limb conservation, pain management, life-quality improvement, and tumor control. As reported by the American Society of Clinical Oncology (ASCO) in February 2023, a professional organization that stands for physicians in the United States, approximately 3,970 new cases of primary bone sarcoma are set to be diagnosed in the US in 2023, a rise from 400 cases in 2019 amongst individuals aged 15 to 19. Therefore, this upsurge in bone cancer is the driving factor behind the growth of the bone cancer treatment market.
What Are The Key Segments Within The Global Bone Cancer Treatment Market?
The bone cancer treatment market covered in this report is segmented –
1) By Type: Multiple Myeloma, Osteosarcoma, Chondrosarcoma, Ewing Sarcoma
2) By Treatment Type: Chemotherapy, Targeted Therapy, Radiation Therapy, Surgery, Other Treatment Types
3) By Distribution Channel: Hospital Pharmacies, Drug Store And Retail Pharmacies, Online Pharmacies
Subsegments:
1) By Multiple Myeloma: Chemotherapy, Immunotherapy, Targeted Therapy, Stem Cell Transplant
2) By Osteosarcoma: Surgical Resection, Chemotherapy, Radiation Therapy, Targeted Therapy
3) By Chondrosarcoma: Surgical Resection, Chemotherapy, Radiation Therapy
4) By Ewing Sarcoma: Chemotherapy, Surgical Resection, Radiation Therapy, Targeted Therapy
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How Are New Trends Impacting The Size Of The Bone Cancer Treatment Market?
Key players in the bone cancer treatment market are concentrating their efforts on implementing immunotherapy, a therapeutic strategy designed to boost the body's immune response against cancer. Immunotherapy is a cancer treatment that mobilizes the body's immune defenses to combat cancerous cells. For example, MedPacto, a pharmaceutical development company based in South Korea, obtained an orphan drug status from the European Medicines Agency (EMA) in July 2023 for its drug, vactosertib, intended for osteosarcoma treatment. Vactosertib is engineered to target and impede the TGF-beta (transforming growth factor-beta) signalling pathway, which plays a role in tumor growth and proliferation. The orphan drug status awarded to vactosertib marks a substantial breakthrough in creating new treatments for osteosarcoma, providing chances for enhanced treatments for patients diagnosed with this uncommon and aggressive type of bone cancer.
Who Are the Key Players in the Bone Cancer Treatment Market?
Major companies operating in the bone cancer treatment market include:
• Pfizer Inc.
• Johnson & Johnson
• F. Hoffmann-La Roche Ltd.
• Merck & Co. Inc.
• Bayer AG
• Novartis AG
• Sanofi S.A.
• Bristol-Myers Squibb Company
• AstraZeneca plc
• GlaxoSmithKline plc
• Takeda Pharmaceutical Company Limited
• Eli Lilly and Company
• Boehringer Ingelheim International GmbH
• Amgen Inc.
• Otsuka Pharmaceutical Co. Ltd.
• Astellas Pharma Inc.
• Eisai Co. Ltd.
• Jazz Pharmaceuticals plc
• Incyte Corporation
• Ipsen SA
• Kyowa Hakko Kirin Co. Ltd.
• Seagen Inc.
• Exelixis Inc.
• BeiGene Ltd.
• Daiichi Sankyo Company Limited
• Karyopharm Therapeutics.
What are the Regional Insights into the Bone Cancer Treatment Market?
North America was the largest region in the bone cancer treatment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the bone cancer treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
