PUBLISHER: The Business Research Company | PRODUCT CODE: 1428278
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428278
The term 'bone cancer treatment' encompasses the methodologies employed to address and combat bone cancer, a form of cancer originating in bone tissue. This treatment is applied to both primary bone cancers, originating within the bone, and secondary bone cancers, which initiate in another part of the body and subsequently spread to the bone.
The principal categories of bone cancer treatment include multiple myeloma, osteosarcoma, chondrosarcoma, and Ewing sarcoma. Multiple myeloma is a cancer affecting plasma cells, a subtype of white blood cells responsible for antibody production. Treatment modalities for multiple myeloma encompass various approaches such as chemotherapy, targeted therapy, radiation therapy, surgery, and others. The distribution channels for these treatments include hospital pharmacies, drug stores and retail pharmacies, as well as online pharmacies.
The bone cancer treatment market research report is one of a series of new reports from The Business Research Company that provides bone cancer treatment market statistics, including bone cancer treatment industry global market size, regional shares, competitors with a bone cancer treatment market share, detailed bone cancer treatment market segments, market trends and opportunities, and any further data you may need to thrive in the bone cancer treatment industry. This bone cancer treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The bone cancer treatment market size has grown strongly in recent years. It will grow from $1.22 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The historical period's growth can be credited to the development of imaging technologies, enhancements in biopsy techniques, discoveries and advancements in pharmaceuticals, improvements in healthcare infrastructure, and progress in supportive care.
The bone cancer treatment market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be ascribed to shifts in healthcare policies, a transition towards patient-centric care models, the proliferation of telemedicine and remote monitoring, a rising number of cancer patients, a lack of effective treatment options, and the prevalence of side effects. Notable trends expected in the forecast period encompass government initiatives aimed at raising awareness about bone cancer, technological advancements in healthcare devices, heightened research and development activities, exploration and progress in gene-editing techniques, and an increased collaboration between academia, pharmaceutical companies, and healthcare institutions.
The increasing prevalence of bone cancer is anticipated to fuel the expansion of the bone cancer treatment market. Bone cancer comprises a group of malignant tumors that originate in bone tissue, resulting from uncontrolled cell division and growth in the bone. Treatment strategies for bone cancer aim to provide several advantages to patients, encompassing surgical interventions, limb preservation, pain relief, improved quality of life, and effective tumor management. As per reports from the American Society of Clinical Oncology (ASCO) in February 2023, an estimated 3,970 new cases of primary bone sarcoma are expected to be diagnosed in the US, with 2,160 in men and 1,810 in women, reflecting an increase from 400 cases in 2013 among individuals aged 15 to 19. Thus, the increasing prevalence of bone cancer acts as a driving force for the bone cancer treatment market.
The growth of the bone cancer treatment market is further expected to be propelled by the rise in the geriatric population. The term 'geriatric population' refers to individuals aged 65 years and older. Bone cancer treatment is essential for this demographic as the disease often originates in the bone cells of long bones, and its incidence tends to increase with age. Advanced treatment options are available to address the specific needs of older adults and enhance treatment outcomes. According to the World Health Organization, globally, by 2030, 1 in 6 people will be 60 or older, and this age group is projected to double to 2.1 billion by 2050. In the UK, the House of Commons Library reported in June 2021 that by 2043, the senior population is expected to constitute 24% of the total population, reaching 17.4 million people. Hence, the rise in the geriatric population serves as a driving factor for the growth of the bone cancer treatment market.
The approval of innovative treatment technologies stands out as a prominent trend gaining traction in the bone cancer treatment market. Major players within the bone cancer treatment sector are strategically focused on developing cutting-edge treatment technologies and obtaining regulatory approvals to fortify their market position. For example, in December 2021, Zetagen Therapeutics, a clinical-stage biopharmaceutical company based in the US, secured breakthrough device recognition from the U.S. Food and Drug Administration (FDA) for its ZetaMet technology. This groundbreaking technology specifically targets metastatic bone cancer, offering a synthetic, small-molecule biologic approach to address such conditions. ZetaMet aims to resolve metastatic bone lesions, inhibit the growth of future lesions, stimulate T cells, and activate cells for healthy bone growth while preventing degradation. Its targeted attachment to the bone surface presents a promising and novel treatment option for patients with metastatic bone cancer.
Major players in the bone cancer treatment market are actively introducing next-generation drugs, including prescription medicines, to gain a competitive advantage. Prescription medicines are pharmaceutical drugs that can only be legally obtained with a written order from a qualified healthcare professional, such as a doctor or dentist. For instance, in September 2023, GSK plc, a UK-based pharmaceutical and biotechnology company, launched Ojjaara (Momelotinib), a prescription medicine designed to treat certain types of myelofibrosis (MF) in adults. Myelofibrosis is a rare form of bone marrow cancer that disrupts the normal production of blood cells. Ojjaara (Momelotinib) offers a novel and effective treatment option for patients grappling with bone cancer and anemia.
In November 2021, Merck & Co. Inc., a US-based pharmaceutical company, completed the acquisition of Acceleron Pharma Inc. for an undisclosed amount. Through this strategic move, Merck & Co. Inc. aims to bolster its extensive track record in addressing cardiovascular illnesses and further support its commercial development strategy, ultimately reaching more patients. Acceleron Pharma Inc. is a US-based clinical-stage biopharmaceutical company specializing in the development of medicines for bone cancer.
Major companies operating in the bone cancer treatment market report are 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.
North America was the largest region in the bone cancer treatment market in 2023. 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
The countries covered in the bone cancer treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The bone cancer treatment market includes revenues earned by entities by providing diagnosis and staging, supportive care, multidisciplinary care, biopsy, pain management, and psychosocial support services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bone Cancer Treatment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bone cancer treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bone cancer treatment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bone cancer treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
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