Press release
Bone Cancer Treatment Market Expected to Achieve 5.9% CAGR by 2029: Growth Forecast Insights
Bone Cancer Treatment
How Large Will the Bone Cancer Treatment Market Size By 2025?
The market size of bone cancer treatment has seen significant growth in the past few years. Projected growth indicates a rise from $1.3 billion in 2024 to $1.37 billion in 2025, maintaining a compound annual growth rate (CAGR) of 5.5%. The historical expansion has been driven by factors including the development of imaging technologies, enhancement of biopsy techniques, the discovery and forward motion in pharmaceuticals, betterments in healthcare framework, and advancements in supportive care services.
How Big Is the Bone Cancer Treatment Market Size Expected to Grow by 2029?
Expectations are high for robust expansion in the bone cancer treatment market size over the next several years. The market is estimated to reach $1.73 billion by 2029, with a compound annual growth rate (CAGR) of 5.9%. The anticipated growth during the forecast period can be attributed to adjustments in healthcare policies, a move towards patient-centric care models, telemedicine and remote monitoring developments, a rise in cancer patients, the lack of effective treatment options and side effects. The forecast period is set to see significant trends such as governmental initiatives for bone cancer awareness, technological progression in medical devices, amplified research and development activities, exploration and enhancement of gene-editing techniques, and a growing collaboration among academia, pharmaceutical companies, and healthcare institutions.
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Which Key Market Drivers Powering Bone Cancer Treatment Market Expansion and Growth?
The growth of the bone cancer treatment market is being fueled by the escalating rate of bone cancer. Bone cancer is characterized by malignancies that arise from bone tissue. The condition manifests when cells within the bone multiply and expand uncontrollably, leading to the formation of a mass or tumor. The aim of bone cancer treatments is to provide several benefits to patients diagnosed with the condition. Such therapies have been implemented in the treatment of various bone cancers by means of surgical interventions, limb preservation, pain relief, improved quality of life, and tumor control. This is further supported by data provided by the American Society of Clinical Oncology (ASCO), a US-based organization representing doctors. They predict that approximately 3,970 new instances of primary bone sarcoma will be identified in the US in 2023, with 2,160 men and 1,810 women being diagnosed. This is significantly higher than the 400 cases reported in 201 among 15 to 19-year-olds. Hence, the bone cancer treatment market is being propelled by the rising occurrence of bone cancer.
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Which Fast-Growing Trends Are Poised to Disrupt the Bone Cancer Treatment Market?
Prominent companies in the bone cancer treatment market are turning their focus towards the use of immunotherapy. This innovative treatment approach uses the immune system of the patient to combat cancer cells more effectively. One such example is MedPacto, a renowned drug developer based in South Korea, which was granted an orphan drug designation by the European Medicines Agency (EMA) in July 2023 for its drug vactosertib, designed for treating osteosarcoma. Vactosertib has a specific target, inhibiting the TGF-beta (transforming growth factor-beta) signalling pathway, known for its significant role in tumour progression and metastasis. This designation can be seen as a significant step towards the development of new treatment methods for osteosarcoma, suggesting that prospects could improve for patients suffering from this rare and aggressive type of bone cancer.
What Are the Emerging Segments in the 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Bone Cancer Treatment Industry?
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
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