Global Bone Cancer Diagnosis and Therapeutics Market Research and Forecast 2022-2028

Global Bone Cancer Diagnosis and Therapeutics Market Research By Type (Primary Bone Cancer and Secondary Bone Cancer), By Diagnosis (MRI Scans, X-Rays, CT-Scan, Radionuclide Bone Sensors, Biopsy and Other), By Therapies (Radiation Therapy, Cryosurgery and Other) and By End-User (Multispecialty Hospitals and Cancer Research Centers) Forecast 2022-2028

The global bone cancer diagnosis and therapeutics market is growing at a considerable CAGR of 8.1% during the forecast period. Rising number of incidences in individual related to Paget disease is one of the prime factors affecting and driving the market. Increasing per capita healthcare expenditure, technology for stem cell transplants among others is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, lack of awareness in under developed nations with regards to diagnosis and therapeutics along with high cost involvement in treatment are some major factors constraints that are hindering the growth of the global bone cancer diagnosis and therapeutics market.

However, R&D and technological advancement are some of the key factors that are creating opportunities for the market. New product launches in the market are likely to drive the growth of the global bone cancer diagnosis and therapeutics market. For instance, in November 2020, BeiGene had officially notified the approval in China for its XGEVA (denosumab). This approval was received in China for the patients suffering due to bone metastasis from solid tumors along with patients having multiple myeloma in order to prevent skeletal-related events.

Impact of COVID-19 on the Global Bone Cancer Diagnosis and Therapeutics Market

The global bone cancer diagnosis and therapeutics market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic in the major economies had disrupted manufacturing and transportation activities. Moreover, the operations and procedures related to surgery were also interrupted due to the COVID-19 pandemic that had adversely impacted the market.

Segmental Outlook

The market is segmented based on type, diagnosis, therapies and end-user. Based on by type, market is segmented into primary bone cancer and secondary bone cancer. By diagnosis, market is segmented into MRI scans, x-rays, CT-scan, radionuclide bone sensors, biopsy and other. Further by therapies the market is segmented into radiation therapy, cryosurgery and other. By end user the market is segmented into multispecialty hospitals and cancer research centers.

Global Bone Cancer Diagnosis and Therapeutics Market by Type 2020 (%)

Global Bone Cancer Diagnosis and Therapeutics Market by Type

Based on the type, primary bone cancer holds significant share in the market. It is a type of cancer that occurs and begins in the bone. It may occur to the patient on the surface, in the outer layer or it can be observed from the center of the bone. The treatment is very necessary if it is left untreated it can spread to other body parts. Further, According to Australian institute of health and wealth around 250 Australians every year are been diagnosed with primary bone cancer. More than 30 types of bone cancer are considered in this category; however most commonly observed includes Osteosarcoma, Chondrosarcoma and Ewing’s sarcoma. This can be treated through surgery and various type of therapy given to patients.

Regional Outlooks

The global bone cancer diagnosis and therapeutics market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global bone cancer diagnosis and therapeutics market. Some factors that are boosting the market growth in North America are high expenditure in healthcare along with increasing prevalence of bone cancer. Additionally, development in technology and research projects conducted in the region is other factor to driving the growth of the market. For instance, In February 2020, one of the organizations catalyzing research initiatives named as Count Me In has set forth the launch of the project that name as osteosarcoma project. This project is considered as patient -partnered effort that supports accelerating research work for people in countries that include the US and Canada those who have been affected by osteosarcoma.

Global Bone Cancer Diagnosis and Therapeutics Market, by Region 2022-2028

Global Bone Cancer Diagnosis and Therapeutics Market, by Region

Asia-Pacific will have Considerable Growth in the Global Bone Cancer Diagnosis and Therapeutics Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing number of cancer patients along with growing geriatric population is likely to drive the growth of the regional market. Further, due to health availability, rising health care expenditure along with rising number of market player in India, China and South Korea are also some of the factors that are affecting and impacting the growth.

Market Player Outlook

Key players of the global bone cancer diagnosis and therapeutics market are Amgen Inc., Bayer AG, Merck & Co., Inc., Novartis AG, and Pfizer Inc. among others. To survive in the market, these players adopt different marketing strategies such as product launches and acquisition. For instance, in October 2020, Johnson & Johnson Services, had notified its acquisition of momenta pharmaceuticals, Inc. which is one of the companies that offers therapies. The acquisition was done for around $6.5 billion as this would play an important role for providing their assistance in advance patient care.

In September 2020, Bristol-Myers Squibb Co. had announced that the company has received approval and clearance from heath Canada for INREBIC. This would support in treating patients by offering them once in a day oral option who had been affected by rare bone marrow cancer. These new treatments would be helpful in effectively treating rare disorders.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bone cancer diagnosis and therapeutics market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.