Global Neoplasm Treatment Market: Current Analysis and Forecast (2022-2028)

Global Neoplasm Treatment Market: Current Analysis and Forecast (2022-2028)

A neoplasm is an abnormal growth of cells in the body. It can be a small, non-cancerous growth or it can also be a cancerous or precancerous tumor. A malignant neoplasm can spread to other parts of the body. The rising prevalence of cancer and benign tumors are important factors that drive the market growth of neoplasm treatment. For instance, as per the World Health Organization (WHO), Cancer was the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

The Neoplasm Treatment Market is expected to grow at a steady rate of around 8% owing to the rising cases of cancer, increasing pollution, and rising consumption of alcohol that increases the risk of cancer. For instance, as per the European Environmental Agency, Exposure to pollution causes 10% of all cancer cases in Europe.

• Based on the type, the market has been categorized into malignant and benign. Among them, the malignant segment holds a dominant share of the market in 2020. Malignant tumors are cancerous tumors that grow at a rapid rate and spreads to other parts of the body. Malignant tumors are generally life-threatening tumors and are the prime cause of death across the globe. The increasing prevalence of cancerous tumors is an important driving factor for the growth of malignant tumor segments.
• Based on the treatment type, the market has been categorized into surgery, chemotherapy, targeted therapy, and others. Among them, the targeted therapy segment is anticipated to witness the fastest growth in the market. Targeted therapy is a type of cancer treatment that targets proteins that control the rate by which cancer cells grow, divide, and spread. Targeted therapy is used in the treatment of certain types of cancer such as leukemia and the increased prevalence of these types of cancer is attributed to the growth of the segment. For instance, as per the International Agency for Research on Cancer, in 2020, the new global cases of leukemia accounted for 474,519.
• Based on the end-user, the market has been categorized into hospitals, cancer research center, specialty clinics, and others. Among them, the hospital segment holds a prominent share of the market. This is mainly owing to the hospitals providing all facilities for the treatment of the diseases such as diagnostics, treatment, and critical care under a single roof.
• For a better understanding of the market adoption of the neoplasm treatment industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, North America is anticipated to hold a considerable market share. The major factors such as the presence of major economies like the United States in the region and the launch of new generic drugs for cancer treatment are responsible for the growth of the market in the region. For instance, in May 2022, Gland Pharma launched the cancer treatment drug Bortezomib for Injection in the US market.
• Some of the major players operating in the market are Eisai Co., Ltd.; Exelixis, Inc.; Thermo Fisher Scientific; Boehringer Ingelheim International GmbH; Bayer AG; Abbott; Merck & Co., Inc.; Teva Pharmaceutical Industries Ltd; Siemens Healthcare GmbH.; and Novartis AG.