The global bone cancer treatment market is expected to register a CAGR of 4.9%, over the forecast period. Certain factors that are driving the market growth include increasing global burden of bone cancer and increasing government initiatives for bone cancer awareness. The incidence of bone cancer is on a steady rise and need to be wisely addressed at the earliest, in order to reduce the burden of bone sarcoma across the world.
According to the estimates by the American Society of Clinical Oncology, the United States was expected to witness 3,450 new cases of bone cancer, and an expected 1,590 deaths due to bone cancer in 2018. However, the chemotherapeutic drugs approved for the treatment of bone cancer do not have an effective treatment regime, as it always varies according to the prevailing conditions, and the way the patient’s body responds to the drug. The associated side effects, risks, and limitations of the treatment are limiting the growth of the global bone cancer treatment drugs market.
Key Market Trends
Osteosarcoma is Expected to Hold the Largest Share in the Market Over the Forecast Period
In the bone cancer type segment of the bone cancer treatment market, among all primary bone cancers, osteosarcoma is expected to have the largest market size, over the forecast period.
Osteosarcoma is the most common type of cancer affecting bones, and it mostly occurs in children and young adults. Based on the cells, osteosarcoma is classified as high-, intermediate-, and low-grade. According to the American Cancer Society, about 800 to 900 new cases of osteosarcoma are diagnosed in the United States every year, with about half of these occurring in children and teenagers.
Research on osteosarcoma is done at various medical centers, university hospitals, and other institutions across the world. Many advancements have taken place in the treatment of osteosarcoma in the past few decades. Osteosarcoma can be treated by surgery, radiation therapy, chemotherapy, targeted therapy drugs, etc.
Thus, research related to the bone cancer treatment market is increasing, owing to the high prevalence of osteosarcoma, globally.
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America currently dominates the bone cancer treatment market, and it is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the fact that, currently, in the region, mainly in the United States, many clinical trials are underway for bone cancer therapies. Some studies are testing new chemo drugs. Researchers are also looking for new ways to use the existing approved drug portfolio. For instance, doctors are studying whether adding a bisphosphonate called zoledronic acid (Zometa) to the bone cement, which is used in filling the space left after removing a giant cell tumor, may decrease the chances of that tumor returning in that place.
The global bone cancer treatment market is highly competitive and consists of a considerable number of significant players. All of the existing players in the global bone cancer treatment market are either legacy suppliers of treatment options, like chemotherapy and radiation therapy, or are concentrating on clinical trials for novel bone cancer approaches, including targeted therapy and immunotherapy. Companies, like Bayer AG, Amgen, Novartis AG, and Pfizer Inc., among others, are expected to hold a substantial market share in the bone cancer treatment market.
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