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Soft Tissue Sarcoma Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Soft Tissue Sarcoma Global Market Report 2024
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According to The Business Research Company's, The soft tissue sarcoma market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to limited treatment options, evolving understanding of sarcoma biology, growth in cancer research funding, rising prevalence of soft tissue sarcoma, expansion of healthcare infrastructure.
The soft tissue sarcoma market size is expected to see strong growth in the next few years. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to development of targeted therapies for soft tissue sarcoma, increasing focus on personalized medicine, expansion of clinical trials for sarcoma treatments, growing awareness and early detection initiatives,. Major trends in the forecast period include integration of immunotherapy in soft tissue sarcoma treatment, development of combination therapies, emphasis on patient-centric care models, rise in the use of liquid biopsies, advances in sarcoma genomics.
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Market Drivers and Trends:
The surge in cancer incidence is expected to propel the growth of the soft tissue sarcoma market going forward. Cancer is a broad category of illnesses that can develop in any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries, and either spread to other organs or invade neighboring body parts. The rise in cancer incidence increases the need for diagnostic procedures, therapeutic regimens, and supportive care choices to meet the unique requirements of patients with several types of cancer or sarcoma, which boosts the market for soft tissue sarcomas. For instance, in 2021, According to the American cancer society, 1.8 million new cancer cases diagnosed in 2020. Furthermore, according to September 2020 data published by the National Cancer Institute, a US-based government agency part of the National Institutes of Health, 1,806,590 new cancer cases were recorded, indicating that 43% of all cancer diagnosed in men in the United States in 2020, up from 1,752,735 in the previous year, i.e., 2019. Therefore, the surge in cancer incidence is driving the growth of the soft tissue sarcoma market.
Product innovation has emerged as a key trend gaining popularity in the soft tissue sarcoma market. Major companies operating in the soft tissue sarcoma market are concentrating on creating innovative products to strengthen their position in the market. For instance, In November 2023, Mercy, a US-based not-for-profit Catholic health care organization, introduced an innovative AI-driven texting program called The Chen Chemotherapy Model to proactively prevent hospitalizations related to chemotherapy. This program utilizes a smart texting platform that sends daily messages to chemotherapy patients seven days a week, excluding weekends and holidays. The texts present a list of symptoms, including diarrhea, pain, fever, fatigue, nausea or vomiting, or no symptoms. Patients can select and rate their symptoms, and based on their responses, the information may be escalated to their healthcare provider. The goal is to identify potential issues early and intervene before symptoms worsen, demonstrating Mercy's commitment to leveraging technology for improved patient care in the field of chemotherapy.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, Roche Holding AG, F. Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol Myers Squibb, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Merck & Co. Inc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Lupin Ltd., Philogen S.p.A., Taiho Pharmaceutical Co.Ltd., Nanobiotix S.A.
Soft Tissue Sarcoma Market 2024 Key Insights:
• The soft tissue sarcoma market size is expected to see strong growth in the next few years. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Surge In Cancer Incidence Driving Soft Tissue Sarcoma Market Growth
• Product Innovation Driving Advancements In Soft Tissue Sarcoma Market
• North America was the largest region in the soft tissue sarcoma market in 2023
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