PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628898
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628898
Bone Cancer Treatment Market size was valued at USD 1,321.5 Million in 2023, expanding at a CAGR of 5.50% from 2024 to 2032.
When aberrant cells in bone grow out of control, bone cancer occurs. Healthy bone tissue is destroyed in this cancer. Malignant or cancerous bone tumours can occur. Cancer cells can spread throughout the body as a result of malignant bone tumours. Children, teens, and young adults are more likely to experience them than older adults; however, they can appear at any age. Bone cancer can be treated with a variety of methods, including surgery, radiation therapy, chemotherapy, and targeted therapy. The rise in cancer prevalence, the expansion of government efforts, and the spike in product launches and approvals are the main drivers propelling the growth of the bone cancer treatment market. Moreover, a key driver of the market for bone cancer treatments is the rise in bone cancer, particularly osteosarcoma.
Bone Cancer Treatment Market- Market Dynamics
Rising Incidence of Bone Cancer
It is anticipated that the market for bone cancer treatments will expand due to the rising incidence of bone cancer. Malignant (cancerous) tumours that start in bone tissue are referred to as bone cancer. It happens when bone cells grow out of control and divide, creating a tumour or mass. The purpose of bone cancer treatments is to provide patients with a number of benefits. Several bone malignancies were treated with this therapy, which included surgery, limb preservation, pain relief, improved quality of life, and tumour control. For instance, the American Society of Clinical Oncology (ASCO), a professional organization that represents physicians in the United States, reported in February 2023 that 3,970 new cases of primary bone sarcoma (2,160 men and 1,810 women) would be diagnosed in the United States in 2023, out of 201 cases in people aged 15 to 19. Thus, the market for bone cancer treatments is being driven by the rising incidence of bone cancer.
Bone Cancer Treatment Market- Key Insights
As per the analysis shared by our research analyst, the global Bone Cancer Treatment Market is estimated to grow annually at a CAGR of around 5.50% over the forecast period (2024-2032)
Based on type segmentation, the primary bone cancer category was predicted to show maximum market share in the year 2023
Based on treatment segmentation, chemotherapy was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Bone Cancer Treatment Market is segmented on the basis of Type, Treatment, End-user, and Region.
Based on type, the market is categorized into Primary bone cancer (Ewing sarcoma, Osteosarcoma, Chondrosarcoma, Other primary bone cancer) and Secondary bone cancer. The primary bone cancer category led the market in 2023. Primary bone cancer, sometimes referred to as bone sarcoma, is cancer that starts in the bone and does not spread to other organs. This distinguishes it from bone cancer that has spread from other parts of the body, often known as secondary or metastatic bone cancer. Specialized treatment approaches, including radiation therapy, targeted therapies, and limb-sparing procedures, are usually required for primary bone cancer. In addition, compared to other cancers like lung or breast cancer, primary bone cancer is comparatively uncommon. Its scarcity does not, however, lessen its significance. Primary bone cancer is a focus of study and therapeutic development due to its very low incidence.
By treatment, the market is segregated into Targeted and immunotherapy (Denosumab, Sunitinib, Imatinib, Other targeted & immunotherapies), Radiation therapy, Surgery, and Chemotherapy (Doxorubicin, Etoposide, Cisplatin, Cyclophosphamide, Other chemotherapies). In 2023, the chemotherapy category became the leading force in the global market for the treatment of bone cancer. Chemotherapy is a systemic treatment that travels through the bloodstream to all parts of the body. This feature enables it to target cancer cells in the original bone tumour as well as any possible metastases or organ spreads. Chemotherapy works very well in reducing tumours, even ones that are located in difficult-to-reach places like bone tissue. Chemotherapy can be extremely important in limiting the growth and spread of bone cancer, particularly in patients with advanced stages of the illness or significant metastases. Following surgery, chemotherapy is frequently used as an adjuvant treatment. Removing any cancer cells that may have remained after surgery lowers the chance of recurrence in cases of primary bone cancer. Neoadjuvant treatment, or chemotherapy, is sometimes given prior to surgery.
Bone Cancer Treatment Market- Geographical Insights
Geographically, the Bone Cancer Treatment Market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The market for bone cancer treatments in North America is distinguished by its well-developed healthcare infrastructure, substantial emphasis on research and development, and high healthcare spending. Innovative bone cancer treatment options are encouraged to be developed and adopted by the region's strong reimbursement policies and regulatory structure. Many biotechnology and pharmaceutical companies in North America are also actively working on creating new treatments for bone cancer, such as immunotherapies, targeted medicines, and personalized medicine strategies. The market is also growing as a result of the region's rising incidence of bone cancer, especially among the elderly population.
Throughout the projected period, the Asia-Pacific market is expected to grow at the quickest rate, providing participants in the bone cancer treatment industry with significant growth prospects. A significant patient pool is implied by factors like the Asia-Pacific region's enormous and expanding population. It is anticipated that the need for bone cancer treatment will rise as access to healthcare improves. In Asia-Pacific nations, rapid industrialization and changes in lifestyle are causing a rise in cancer cases, particularly bone cancer. This tendency calls for the market for bone cancer treatments to grow. The region's sizable and varied patient population is making it a centre for clinical studies.
The bone cancer treatment market is highly fragmented, mainly because many competitors are operating both locally and globally, such as Pfizer Inc., Baxter International Inc., Advaxis Inc., Amgen Inc., Atlanthera, Bayer AG, and others. Various companies that all contribute to the overall dynamics of the market defines the competitive landscape. This division results from the competition for market share between established industry players, newcomers, and specialist solution suppliers. The use of a variety of tactics to increase the company's visibility highlights the diversity of market players. Globally, businesses in the industry under study are putting themselves in a strategic position by pursuing aggressive expansion plans. For instance, Zetagen Therapeutics' ZetaMet technology was designated a breakthrough product by the Centers for Devices and Radiological Health (CDRH) of the U.S. Food and Drug Administration (FDA) in December 2021. It demonstrates ZetaMet's promise as a cutting-edge therapy for metastatic bone diseases. This aided the business in accelerating the review and development process.
February 2024: Telix declared its intention to purchase QSAM Biosciences, Inc. and its primary experimental medication, Samarium-153-DOTMP (153Sm-DOTMP). A U.S.-based business called QSAM creates therapeutic radiopharmaceuticals for bone cancer, both primary and metastatic. The company was able to expand its clientele and break into unexplored markets thanks to this acquisition.
October 2023: Zetagen Therapeutics released ZetaMet's preliminary clinical study results in the peer-reviewed journal Pain Management. This includes information on ZetaMet's effectiveness and safety in patients with bone metastases.
March 2023: CADD522, a novel medication, was created by researchers at the Universities of Sheffield and East Anglia to treat patients with primary bone malignancies. In preclinical models, this medication increased survival rates by 50%.