Bone Cancer Treatment Market Research, 2031
The global bone cancer treatment market was valued at $1.2 billion in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031. Bone cancer develops when abnormal cells proliferate uncontrollably in bone. It eradicates healthy bone tissue. Some bone tumors are malignant (cancerous). Malignant bone tumors can metastasize or cause cancer cells to spread throughout the body. While they can develop at any age, they are more common in children, teenagers and young adults than in older adults. Various treatments like chemotherapy, targeted therapy, radiation therapy and surgery are used to treat bone cancer.
Major factors that drive the bone cancer treatment market growth is rise in prevalence of cancer, increase in government initiatives and surge in product launch and & product approval. Increase in the bone cancer especially osteosarcoma is a major factor that drives the bone cancer treatment market. In addition, there is a definite upward trend in drug approval for bone cancer treatment over the past decade.
Furthermore, increase in government initiatives for bone cancer awareness worldwide and escalating demand for healthcare services is expected to majorly drive the market growth. Many governments organization are taking initiatives to create awareness about treatment of the bone cancer. Emerging economies of the Asia-Pacific and LAMEA regions present lucrative bone cancer treatment market opportunity for market players due surge in healthcare, industrial development and investments.
Impact of COVID-19
The COVID-19 outbreak is anticipated to have a negative impact on the bone cancer treatment market. A huge number of clinics and hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with COVID-19. Non-essential procedures took a potential backlog, owing to rapidly rising COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. Furthermore, other factors responsible for the impact on the market include limited availability of medical care, shortage of healthcare staff, and rise in burden of COVID-19 related hospitalization.
Delays in diagnosis and treatment due to health care facility closures and concern over COVID-19 exposure led in decreased access to care, which could cause a temporary decrease in cancer incidence followed by an increase in advanced illness and, eventually, higher mortality. As a result, COVID19 anticipated negative growth on the bone cancer treatment industry.
Market Segmentation
The global bone cancer treatment market is segmented on the basis of type, drug type , distribution channel and region. On the basis of type, the market is categorized into osteosarcoma, chondrosarcoma, Ewing sarcoma and other. By drug type, it is divided into immunotherapy & targeted therapy and chemotherapy. By distribution channel, it is segmented into hospitals pharmacies, drug store & retail pharmacies and online pharmacies.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Segment Review
By type, the bone cancer treatment market size is segmented into osteosarcoma, chondrosarcoma, Ewing sarcoma and other. The osteosarcoma segment generated maximum revenue in 2021 and also expected to continue trend throughout the forecast period, owing to increase in product launch and product innovation.
Depending on drug type, the market is divided into immunotherapy & targeted therapy and chemotherapy. The immunotherapy & targeted therapy segment dominated the bone cancer treatment market share in 2021, and also expected to continue the throughout the forecast owing to less harmful effects on health.
Depending on distribution channel, the bone cancer treatment market size is divided into hospitals pharmacies, drug store & retail pharmacies and online provider. The hospital pharmacies segment dominated the market in 2021 owing to as they offer the precise drug according to status of disease of patient. The online provider segment is expected to witness highest CAGR during the forecast period owing to increase in trend of online.
North America accounted for a majority of the global bone cancer treatment market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in bone cancer treatment industry., presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, in bone cancer treatment market forecast owing rise in geriatric population, development of healthcare infrastructure and increase in investments projects in the region.
The major players profiled in the report are Advaxis Inc., CancerVax, Inc, Cellectar Biosciences, Inc, Isofol Medical Ab, Pfizer Inc, Takeda Pharmaceutical Company Limited, Gradalis Inc. Hikma Pharmaceutical PLC, QSAM Biosciences, Inc., and Zentalis Pharmaceuticals.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bone cancer treatment market analysis from 2021 to 2031 to identify the prevailing bone cancer treatment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bone cancer treatment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bone cancer treatment market trends, key players, market segments, application areas, and market growth strategies.
Bone Cancer Treatment Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.8 billion |
 Growth Rate | CAGR of 4.5% |
 Forecast period | 2021 - 2031 |
 Report Pages | 294 |
 By Type |
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 By Drug type |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Cellectar Biosciences, Inc, Takeda Pharmaceutical Company Limited, Advaxis, Inc, Isofol Medical Ab, Gradalis Inc, Zentalis Pharmaceuticals, Pfizer, Inc, Hikma Pharmaceutical PLC, Cancervax, Inc, QSAM Biosciences, Inc. |
Analyst Review
This section provides opinions of top level CXOs in the global bone cancer treatment market. According to insights of CXOs, leading companies in the market, development of advanced and reliable bone cancer treatment drugs has led to extensive number of applications of this product. Increase in awareness for bone cancer treatment and better healthcare services are also expected to propel the bone cancer treatment market.
The bone cancer treatment industry holds high potential, owing to innovative concepts and multidisciplinary expertise demand for new technological advancements in creation of bone cancer treatment. Recommendations for key market players are anticipated to expand with introduction of new cost-effective products with lesser side effects. There has been a definite upward trend in drug approval for bone cancer drugs in the past decade is expected to drive the market growth. The market gains interest of healthcare companies, owing to its unmet demands in developing economies such as India and China where the population is growing rapidly along with cancer load.
Increase in utilization for targeted therapies, and personalization of medicines, are the upcoming trends of bone cancer treatment market.
Immunotherapy & targeted therapy is the leading application of bone cancer treatment market.
2021 is the base year of the bone cancer treatment market.
The global bone cancer treatment market was valued at $1,182.54 million in 2021, and is estimated to reach $1,831.36 million by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
North America is the largest regional market for bone cancer treatment.
Advaxis Inc., Pfizer Inc, Takeda Pharmaceutical Company Limited, Gradalis Inc. Hikma Pharmaceutical PLC, are the top companies to hold the market share in bone cancer treatment.
2021 to 2031 is the analysis period for bone cancer treatment market.
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