Global Solid Tumor Therapeutics Market - 2023-2030

Global Solid Tumor Therapeutics Market - 2023-2030

The Global Solid Tumor Therapeutics Market reached US$ 194.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 565.6 million by 2030. The Global Solid Tumor Therapeutics Market is expected to exhibit a CAGR of 14.8% during the forecast period 2023-2030.

Personalized medicine techniques have more potential in tumors’ molecular and genetic aspects. Based on the tumor profiles of individual patients, treatment plans can be more precisely targeted and effective, reducing side effects and improving patient outcomes. To find and develop innovative therapies for solid tumors more research and development is required.

Market Dynamics

The growing collaboration among key players to develop advanced treatments for solid tumors is boosting the global solid tumor therapeutics market growth during the forecast period.

In October 2022, Inceptor Bio, a leader in cell therapy biotechnology, and Avectas, a pioneer in cell engineering technology, announced their partnership to advance the design and production of CAR-T cell treatments of the future for the treatment of solid tumors. According to the agreement, Inceptor will use Avectas' SOLUPORE technology instead of electroporation to engineer T cells to produce a healthier T cell product.

The CAR-T cell approach used by Inceptor Bio, which aims to improve the quality of the modified T cells and ultimately increase their endurance in the tumor microenvironment, is well matched to Avectas' SOLUPORE technology. The CAR-T cell treatment platform from Inceptor Bio and Avectas' SOLUPORE delivery could enhance the performance and efficacy of the modified cells.

Technological advancements are boosting the global solid tumor therapeutics market growth during the forecast period.

In October 2022, Inceptor Bio, a leader in cell therapy biotechnology, and Avectas, a pioneer in cell engineering technology, announce their partnership to advance the design and production of CAR-T cell treatments of the future for the treatment of solid tumors.

According to the agreement, Inceptor will use Avectas' SOLUPORE technology instead of electroporation to engineer T cells to produce a healthier T cell product. The CAR-T cell approach used by Inceptor Bio, which aims to improve the quality of the modified T cells and ultimately increase their endurance in the tumor microenvironment, is well matched to Avectas' SOLUPORE technology. The CAR-T cell treatment platform from Inceptor Bio and Avectas' SOLUPORE delivery could enhance the performance and efficacy of the modified cells.

FDA approval and research activities provide solid tumor therapeutics global solid tumor therapeutics market growth opportunities.

In June 2022, the human leukocyte antigen A (HLA-G) targeting chimeric antigen receptor (CAR) T-cell therapy IVS-3001 from Invectys and CTMC received FDA clearance for the treatment of solid tumors. Following IND clearance. The first-in-human, open-label, single-arm phase 1/2a study will assess the therapy's safety, tolerability, clinical activity, and pharmacokinetics in patients with HLA-G+ solid tumors that have failed or been intolerant to standard-of-care therapies and are locally advanced, unresectable, or metastatic and have been confirmed by histology or pathology.

COVID-19 Impact Analysis

The COVID-19 pandemic has significantly impacted the solid tumor therapeutics market. The pandemic has affected regular healthcare services, such as cancer screenings and diagnostic tests. As a result, the diagnosis of solid tumors and the start of subsequent therapy have been delayed. Delayed diagnosis might lead to more severe disease stages when therapy is administered, affecting the regimen’s effectiveness.

As of 2023, the COVID-19 situation is recovering and all healthcare facilities are accessible to patients leading to increasing demand for the solid tumor therapeutics market worldwide.

Russia-Ukraine Conflict Analysis

The impact of the Russia-Ukraine war on the solid tumor therapeutics market is complex and multifaceted In the impacted areas, the violence has caused the destruction and interruption of the healthcare infrastructure. Patients may have difficulty receiving timely and adequate treatment and excellent tumor therapies because hospitals, clinics, and other medical facilities may have been destroyed or rendered inaccessible.

Segment Analysis

The Global Solid Tumor Therapeutics Market is segmented based on cancer type, drug type, end-user, distribution channel, and region.

The breast cancer segment is expected to hold a dominant position in the market over the forecast period.

The breast cancer segment accounted for the highest market stake, accounting for approximately 27.6% of the solid tumor therapeutics market in 2022. According to a study published in an NCBI article in 2022, the tumor is removed, which causes discomfort or difficulties to go away.

Breast cancer is the most prevalent cancer among women, accounting for more than 1 in 10 new cancer diagnoses yearly. It is the second most frequent cancer-related death among women worldwide. Breast cancer develops slowly, and most cases are found through routine screenings.

Geographical Analysis

The increasing prevalence of cancer, increasing FDA approvals, and advancement in solid tumor therapeutics dominate the North American region.

North America is expected to dominate the solid tumor therapeutics market, accounting for around 40.8%. Lung cancer is diagnosed in the United States every two and a half minutes, and it claims the lives of more than 356 of our friends, neighbors, and loved ones every day. However, there is optimism now because more Americans are surviving lung cancer than ever before.

The survival rate has grown by 21% nationally to 25% over the previous five years. Still, it has remained much lower among communities of color, at 20%, even though the disease remains the top cause of cancer deaths. This year's report also looks at the relevance of advances in lung cancer research, which offer better treatment options, and the potentially life-saving potential of lung cancer screening, which can identify the disease at an earlier stage when it's more treatable.

Competitive Landscape

The major global players in the market include Sanofi, Amgen Inc., AstraZeneca PLC, Baxter International Inc., Biogen Inc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, and GlaxoSmithKline PLC among others.

Why Purchase the Report?
• To visualize the Global Solid Tumor Therapeutics Market segmentation based on the cancer type, drug type, end-user, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous solid tumor therapeutics market-level data points 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 Solid Tumor Therapeutics Market Report Would Provide Approximately 69 Tables, 78 Figures And 195 Pages.

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