The bone cancer treatment market is witnessing a CAGR of 4.9% during the forecast period of 2022-2027.
During the early stages of COVID-19, there was a significant reduction in the number of cases treated at the musculoskeletal oncology departments, which have affected the number of surgical volumes. The massive reduction in musculoskeletal oncology services may have drastic consequences for affected patients and the overall market growth. However, several precautionary guidelines were issued by the respective government authorities to initiate the delayed or postponed bone cancer treatments, enabling patients to acquire safe access to treatment during the COVID-19 pandemic.
Certain factors driving the market growth include the increasing global burden of bone cancer and government initiatives for bone cancer awareness. The incidence of bone cancer is on a steady rise and needs to be addressed at the earliest to reduce the burden of bone sarcoma across the world.
According to estimates by the American Society of Clinical Oncology, the United States is estimated to witness 3,610 new cases of bone cancer and an expected 2,060 deaths due to bone cancer in 2021. The chemotherapeutic drugs approved for the treatment of bone cancer do not have an effective treatment regime, as it always varies according to the prevailing conditions and the way the patient’s body responds to the drug. Hence, the associated side effects, risks, and limitations of the treatment are limiting the growth of the bone cancer treatment drug market.
Key Market Trends
Osteosarcoma is Expected to Hold the Largest Share in the Market Over the Forecast Period
The COVID-19 pandemic has disrupted surgical procedures, chemotherapy timings, and frequent hospital visits. In addition, a radical change in the osteosarcoma surgical plan was also observed due to the COVID-19 pandemic. In the bone cancer type segment of the market, among all primary bone cancers, osteosarcoma is expected to have the largest market size over the forecast period.
Osteosarcoma is the most common type of cancer affecting the bones, and it mostly occurs in children and young adults. Based on the cells, osteosarcoma is classified as high-, intermediate-, and low-grade. According to the American Cancer Society, 2019, about 800 to 900 new cases of osteosarcoma are diagnosed in the United States every year, with about half of these occurring in children and teenagers.
Research on osteosarcoma is done at various medical centers, university hospitals, and other institutions across the world. Many advancements have taken place in the treatment of osteosarcoma in the past few decades. Osteosarcoma can be treated by surgery, radiation therapy, chemotherapy, targeted therapy drugs, etc.
Thus, research related to the bone cancer treatment market is increasing, owing to the high prevalence of osteosarcoma globally.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
In North America, the COVID-19 pandemic largely affected the United States region, which led to disruptions in many surgical procedures. However, currently, the surgical procedures are being carried out with precautionary measures, which will further lead to steady growth of the market.
North America currently dominates the bone cancer treatment market, and it is expected to continue its stronghold for a few more years. According to the American Cancer Society estimates for 2022, around 3,910 new cases will be diagnosed along with 2,100 deaths due to bone cancer. The same source stated that primary bone cancers (cancers that start in the bones) are uncommon, accounting for less than 1% of all cancers. In adults, cancers that spread to the bones from other organs are much more common than primary bone cancers. Osteosarcoma is the most common type of primary bone cancer overall, followed by chondrosarcoma and Ewing sarcomas.
Region is expected to increase its market share in the future, owing to the fact that, currently, in the region, mainly in the United States, many clinical trials are underway for bone cancer therapies. Some studies are testing new chemo drugs. Researchers are also looking for new ways to use the existing approved drug portfolio. For instance, doctors are studying whether adding a bisphosphonate called zoledronic acid (Zometa) to the bone cement, which is used in filling the space left after removing a giant cell tumor, may decrease the chances of that tumor returning in that place. In February 2020, Count Me In, a non-profit research initiative, launched the Osteosarcoma Project, a patient-partnered effort that enables people in the United States and Canada who have been affected by osteosarcoma to accelerate research. This is likely to boost the regional growth over the forecast period.
The bone cancer treatment market is highly competitive and consists of a considerable number of significant players. All of the existing players in the market are either legacy suppliers of treatment options, like chemotherapy and radiation therapy, or are concentrating on clinical trials for novel bone cancer approaches, including targeted therapy and immunotherapy. Companies like Bayer AG, Amgen, Novartis AG, and Pfizer Inc., among others, are expected to hold substantial shares in the bone cancer treatment market.
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1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Burden of Bone Cancer
4.2.2 Increasing Government Initiatives for Bone Cancer Awareness
4.3 Market Restraints
4.3.1 Unavailability of Effective Treatment and Side Effects
4.3.2 High Cost of Cancer Therapies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Primary Bone Cancer
18.104.22.168 Ewing Tumor
22.214.171.124 Other Bone Cancer Types
5.1.2 Secondary Bone Cancer (Metastatic Bone Cancer)
5.2 Treatment Type
126.96.36.199 Other Chemotherapies
5.2.2 Targeted Therapy
5.2.3 Radiation Therapy
5.2.5 Other Treatments
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.3.5 South America
184.108.40.206 Rest of South America
6.1.3 Bayer AG
6.1.4 Hikma Pharmaceuticals
6.1.5 Johnson & Johnson
6.1.6 Novartis AG
6.1.7 Pfizer Inc.
6.1.8 Recordati Group
6.1.9 Takeda Pharmaceutical Company
6.1.11 Eli Lilly and Company
6.1.13 Spectrum Pharmaceuticals Inc.
A selection of companies mentioned in this report includes:
- Bayer AG
- Hikma Pharmaceuticals
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Recordati Group
- Takeda Pharmaceutical Company
- Eli Lilly and Company
- Spectrum Pharmaceuticals Inc.