The Global Bone Cancer Drugs Market Is Witnessing High Growth Owing To the Increasing Incidence of Bone Cancer in the World

 

Bone Cancer Drugs

Bone Cancer Drugs Market, by Type (Multiple Myeloma, Osteosarcoma, Chondrosarcoma, and Ewing’s Sarcoma), by Treatment Type (Targeted Therapy, Chemotherapy, Radiation Therapy, and Surgery), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028.

The Global Bone Cancer Drugs Market is estimated to be valued at US$ 1,170.5 million in 2021 and is expected to exhibit a CAGR of 5.1% during the forecast period (2021-2028).

Market Overview:

Bone Cancer develops when cells within a bone or a bone-like tissue grow uncontrollably and form a mass of abnormal tissue called a tumor. Tumors of the bone are either benign (not cancerous) or malignant (cancerous). Surgery is the most common type of treatment for bone cancer. The doctor removes the tumor and some surrounding healthy tissue to prevent cancer from growing back. The surgeon may also use techniques to reduce the amount of healthy bone and tissue that is removed. Chemotherapy procedures use anti-cancer drugs, which are usually delivered through a vein, in order to kill cancer cells. However, this type of treatment is not effective for all types of bone cancer. Radiation therapy uses high-energy X-rays to destroy cancer cells in the bone or nearby tissues. This can help shrink tumors and relieve pain.

Competitive Landscape:

Major players operating in the global Bone Cancer Drugs Market include Teva Pharmaceutical, F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical, Bristol-Myers Squibb Company, Bayer AG, Merck & Co, Debiopharm Group, Eli Lilly and Company, Novartis AG, Amgen Inc., Pfizer Inc., OPKO Health, Inc., Cellectar Biosciences, Inc., and Advaxis, Inc.

Key Market Drivers:

The increasing incidence of bone cancer cases in the world is expected to augment the growth of the global bone cancer drugs market. For instance, according to the MD Anderson Cancer Center, over 3200 people are diagnosed with bone cancer in the United States, every year. Targeted therapy targets specific molecules that promote the growth of cancer cells. It sometimes replaces or improves the effectiveness of chemotherapy and radiation therapy. Denosumab is a monoclonal antibody that helps doctors fight cancer cells in the bone. This drug blocks the molecule that triggers osteoclasts to grow and attack the bones. It also makes the cancer cells more sensitive to other therapies that might be used to treat it. Moreover, increasing developments in cancer research programs are estimated to enhance the growth of the global Bone Cancer Drugs Market. 

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several developments in the global bone cancer drugs market. For instance, in December 2021, ZetaMet technology was approved by the FDA’s Centers for Devices and Radiological Health, in order to treat osteological interventions and metastatic bone cancers.

Key Takeaways:

·       North America is expected to dominate the growth of the global Bone Cancer Drugs Market, owing to the high prevalence of major companies in the region. For instance, in October 2020, Momenta Pharmaceuticals Inc. was acquired by Johnson & Johnson, in order to offer more potential to several disorders such as oncology, pulmonary hypertension, and others.

·       The Asia Pacific is estimated to witness high growth in the global bone cancer drugs market, owing to the increasing incidence of bone cancer in the region. For instance, according to the Cancer Council, around 300 Australians get diagnosed with bone cancer every year.