Global Bone Cancer Market - 2023-2030

Global Bone Cancer Market - 2023-2030

The Global Bone Cancer Market reached US$ 1.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 1.7 Billion by 2030. The Global Bone Cancer Market is expected to exhibit a CAGR of 4.8% during the forecast period 2023-2030.

Bone cancer can begin in any bone in the body, but it most commonly affects the pelvis or the long bones in the arms and legs. Bone cancer is rare, making up less than 1 percent of all cancers. Noncancerous bone tumors are much more common than cancerous ones. Swelling and redness (inflammation) over a bone can make movement difficult if the affected bone is near a joint.

The major driving forces are the rising incidence of bone cancer, growing research and development activities, promising pipeline studies, and increasing government initiatives for bone cancer awareness.

Market Dynamics

An Increase in the Incidence of Inherited Genetic Syndrome is Driving the Bone Cancer Market

The primary factor driving the Bone Cancer Market is the incidence of an inherited genetic syndrome. Several people are suffering from bone cancer because of the inheritance from the previous generation.

For instance, according to National Cancer Institute’s article published on April 25, 2023, Li-Fraumeni Syndrome (LFS) is a rare, inherited disorder that leads to a higher risk of certain cancers. NCI has evaluated families with LFS since the syndrome was first recognized in 1969. It was estimated that almost 50,000 people in the U.S. suffer from this disease every year.

Rise in Technological Advancements is Demanding the Global Bone Cancer Market Growth

The introduction of new technologies and developments in the treatment of bone cancer has been the driver for the bone cancer market. For instance, on October 12, 2022, bone marrow transplantation was developed at Fred Hutchinson Cancer Center, which boosts the tumor-fighting capacity of donated cells without making Graft (vs) Host Disease worst.

Side Effects Associated with the Treatment Can Hamper the Market Growth.

Possible side effects of radiation therapy depend on what area of the body is being treated and how much radiation is used. Short-term problems can include effects on skin areas that receive radiation, ranging from mild sunburn-like changes and hair loss to more severe skin reactions. Radiation to the abdomen or pelvis can cause nausea, diarrhea, and urinary problems. Thus side effects associated with the treatment can hamper the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic epidemic is recognized throughout the world to have adverse effects in a variety of areas. It hurt hospital costs and the length of hospital stay in bone and soft tissue tumor treatment. The COVID-19 pandemic has had a negative impact on many medical fields.

For example, in cancer treatment, the effects of COVID-19 have led to adjustments in treatments such as anticancer drugs and immunotherapy and have caused treatment delays or discontinuation of treatments.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine War has profoundly impacted all aspects of healthcare, including non-communicable diseases such as cancer. Since the invasion of Ukraine in February 2022, there has been significant disruption to the care of people with cancer, as with almost every other aspect of daily life. In 2020, the global cancer observatory reported 162 000 new cancer cases in Ukraine, with over 84 000 deaths.

Segment Analysis

The Global Bone Cancer Market is segmented based on cancer type, treatment, and end user.

The Radiation Therapy Segment Holds the Dominant Position in the Market Over Forecast Period

Radiation therapy holds the most significant market share of 20.4%. Radiation is a better choice for people who want to avoid the side effects of surgery, such as leaking urine and erection problems. It is better for people with other health problems that make surgery too risky.

According to NIH, the report published on March 14, 2022, says that an average of 6,50,000 patients receive radiation therapy every year. Thus increase in the number of patients uptaking radiation therapy expands the market growth.

Geographical Analysis

Asia Pacific accounted for 23.6% of Market Share Owing to disease prevalence and Increasing Technological advances.

Due to the increase in the incidence or occurrence of inherited bone cancer disorder, there is a rapid increase in technological advancements, which holds Asia-Pacific capturing around 23.6% in the bone cancer market growth.

For instance, according to WHO, an estimated 2.3 million people developed cancer in 2020, out of which 1.4 million died of cancer. Thus India has the highest population developing bone cancer. So the advancements and developments have been rising continuously, paving the way for expanding the bone cancer market.

Competitive Landscape

The major global players in the bone cancer market include Amgen, Eli Lilly and Company, Bayer AG, Novartis, Bristol-Myers Squibb Company, Merck & Co., Inc., PfizerInc., and F Hoffman-La Roche.

Why Purchase the Report?
• To visualize the Global Bone Cancer Market segmentation based on cancer type, treatment type, end-user, and region,as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of bone cancer market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Bone Cancer Market Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies