Global Bone Cancer Market Highlights:
Market Research Future (MRFR) has published a detailed report asserting the Global Bone Cancer Market is anticipated to project steady growth during the forecast period of 2016-2022. Formation of tumor or abnormal tissue growth in the bones can lead to bone cancer. The primary bone cancer covers less than 0.2% of all the other cancers. However, the risk of bone cancer triggered due to metastasis or spread of other cancerous tissues from different parts of the body is comparatively high.
The rapid development in healthcare infrastructure and increasing research and development expenditure by the companies in the global bone cancer market is anticipated to fuel the expansion of the market on a global level. The worldwide bone cancer statistics suggests that the survival rate of children and adults diagnosed with bone cancer at an early stage is about 85%. This high survival rate is acting as an aspiration for the patients to receive proper treatment to annihilate bone cancer which is aiding the expansion of the global bone cancer market. The unavailability of complete treatment is creating multiple opportunities for the growth of the global bone cancer market.
The increasing awareness regarding bone cancer among the population of all the regions of the world is anticipated to drive the global bone cancer market during the forecast period. The skyrocketing technological advancement and progress in diagnosis and treatment techniques are some of the factors driving the global bone cancer market. Increasing investments by multinational companies in cancer research are anticipated to drive the global bone cancer market towards higher verticals.
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The Global Bone Cancer Market has been segmented on the basis of type, treatment, and end-users. Based on type, the bone cancer market has been segmented into osteosarcoma, multiple myeloma, chondrosarcoma, Ewing’s sarcoma and others.
On the basis of treatment, the bone cancer market has been segmented into radiation therapy, chemotherapy, surgical treatments and others. Among these treatments for bone cancer, the chemotherapy segment is anticipated to project rapid growth during the forecast period due to the inclination if population towards the oral or parenteral consumption of cancer treatment drugs such as bisphosphonates, strontium-89 chloride, doxorubicin, methotrexate, and others.
In surgical treatments segment, limb amputation surgery, limb salvage surgery, and limb-sparing surgery are the major surgical practices involved in the treatment of bone cancer. The radiation treatment includes the use of high energy gamma rays or x-rays for treating the cancerous cells.
Based on end-users, the bone cancer market has been segmented into clinics, hospitals, cancer care centers and others.
Detailed Regional Analysis:
The global bone cancer market has been geographically segmented into North America, Europe, Asia-Pacific and the Middle East and Africa. Among these regions, North America is leading the global bone cancer market due to the presence of well-developed healthcare infrastructure and willingness of the population to pay high prices for receiving proper treatments.
The North America region is followed by Europe in terms of market size. The increasing acceptance of high-quality drugs and rapid technological advancement is driving the bone cancer market in this region.
Furthermore, the fastest growth of the bone cancer market is anticipated to be projected by the Asia-Pacific region owing to the increasing awareness regarding the diagnosis and treatment process of bone cancer and other bone diseases in this region.
The increase in research and development expenditure for new product launch and focus of leading players towards strategic mergers and acquisitions for the expansion of their businesses is strengthening the competition in the global bone cancer market. In February 2018, AstraZeneca announced its spinning off six early-stage experimental drugs into Viela Bio, a new company focusing on biotechnology which is valued at USD $250 Mn. This spinoff is fueling the expansion of AstraZeneca in the global market.
The key players in the global bone cancer market are AstraZeneca plc, Amgen, Inc., Actavis plc, Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Co., F. Hoffmann-La Roche, GlaxoSmithKline plc, Novartis International AG, Pfizer Inc., Sanofi S.A. and others.
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