The sarcoma drugs market is gaining attraction due to the growing patient assistance programs, new product launches by the big pharmaceutical companies and the growing focus of these companies on R&D which is resulting in the development of novel and advanced therapeutics.
However, the costs of prescription drugs have been rapidly increasing, sometimes at a double-digit rate, for the past seven years. This has led to an increase in the overall healthcare expenditure, making drugs increasingly unobtainable for those with limited means.
According to the Kaiser Family Foundation, in 2018, more than 45 million Americans did not have health coverage, and millions of people were underinsured, with eight out of 10 uninsured people being from salaried families. Among those with health insurance, one out of 10 individuals, who are 65 years old or younger, and one in three persons, above 65 years of age, did not have prescription treatment coverage.
The Patient Assistance Programs (PAPs) emerged in an effort to help patients, who lack health insurance or prescription drug coverage, to get the medication that they require. These programs are generally provided by pharmaceutical corporations, which provide free or low-cost prescription drugs to patients who are suffering from serious diseases. Many states offer medication assistance programs, that vary from one state to another, and cater to the elderly, disabled, or those who are in financial need. Some of the programs are specific for conditions, like cancer.
Pharmaceutical companies donate certain drugs to foundations, which are then provided to the qualifying patients. Several big pharmaceutical companies, such as Pfizer and Eli Lilly, have also started these programs to help uninsured patients who are suffering from chronic diseases. Thus, due to a high number of PAPs, uninsured patients suffering from cancer can also undergo cancer therapies, which is expected to augment the growth of the market.
Key Market Trends
Chemotherapy to Dominate the Market
Chemotherapy is the most common form of therapeutics used to stop or slow down the growth of cancer cells. Surgery and radiation therapy work by removing, killing or damaging the cancer cells in a particular area, but chemotherapy works throughout the whole body. This means that chemotherapy can destroy and damage the cancer cells that have spread to the other parts of the body, away from the original tumor. Furthermore, according to the study published in 2015, on the trends in receiving chemotherapy for advanced cancer patients, at the end of life, the proportion of the patients receiving chemotherapy increased successively.
Some of the chemotherapy drugs for sarcoma include doxorubicin, ifosfamide, trabectedin, Temozolomide, etc. As chemotherapy is the primary treatment for sarcomas, it is expected that the market for chemotherapy will be growing in the future.
North America Holds the Largest Share in the Market
According to the estimates of the American Cancer Society, around 12,750 new soft tissue sarcomas will be diagnosed in the United States among which 7,240 will be men and 5,510 will be females. In terms of mortality, this society has stated that around 5,270 Americans are expected to die due to Sarcoma in the year 2019. It has been observed that around 40 people in 1 million suffer from Sarcoma in the United States every year.
To deal with this cancer, companies are focusing on developing drugs that will reduce the symptoms of Sarcoma. Due to the growing adoption of people to the novel therapeutics and rising focus of companies to establish their strong presence in the United States, it is expected that the market for sarcoma drugs will be witnessing high growth in this region over the forecast period.
Competitive Landscape
The sarcoma drugs market is highly consolidated and consists of a few players. In terms of market share, all the companies currently hold considerable share. However, with technological advancements and product innovations, mid-size to smaller companies are expected to penetrate the market and by introducing new drugs at cheaper prices. Hence, these new entrants are considered to hold a substantial share in the future.
Reasons to Purchase this report:
This product will be delivered within 2 business days.
However, the costs of prescription drugs have been rapidly increasing, sometimes at a double-digit rate, for the past seven years. This has led to an increase in the overall healthcare expenditure, making drugs increasingly unobtainable for those with limited means.
According to the Kaiser Family Foundation, in 2018, more than 45 million Americans did not have health coverage, and millions of people were underinsured, with eight out of 10 uninsured people being from salaried families. Among those with health insurance, one out of 10 individuals, who are 65 years old or younger, and one in three persons, above 65 years of age, did not have prescription treatment coverage.
The Patient Assistance Programs (PAPs) emerged in an effort to help patients, who lack health insurance or prescription drug coverage, to get the medication that they require. These programs are generally provided by pharmaceutical corporations, which provide free or low-cost prescription drugs to patients who are suffering from serious diseases. Many states offer medication assistance programs, that vary from one state to another, and cater to the elderly, disabled, or those who are in financial need. Some of the programs are specific for conditions, like cancer.
Pharmaceutical companies donate certain drugs to foundations, which are then provided to the qualifying patients. Several big pharmaceutical companies, such as Pfizer and Eli Lilly, have also started these programs to help uninsured patients who are suffering from chronic diseases. Thus, due to a high number of PAPs, uninsured patients suffering from cancer can also undergo cancer therapies, which is expected to augment the growth of the market.
Key Market Trends
Chemotherapy to Dominate the Market
Chemotherapy is the most common form of therapeutics used to stop or slow down the growth of cancer cells. Surgery and radiation therapy work by removing, killing or damaging the cancer cells in a particular area, but chemotherapy works throughout the whole body. This means that chemotherapy can destroy and damage the cancer cells that have spread to the other parts of the body, away from the original tumor. Furthermore, according to the study published in 2015, on the trends in receiving chemotherapy for advanced cancer patients, at the end of life, the proportion of the patients receiving chemotherapy increased successively.
Some of the chemotherapy drugs for sarcoma include doxorubicin, ifosfamide, trabectedin, Temozolomide, etc. As chemotherapy is the primary treatment for sarcomas, it is expected that the market for chemotherapy will be growing in the future.
North America Holds the Largest Share in the Market
According to the estimates of the American Cancer Society, around 12,750 new soft tissue sarcomas will be diagnosed in the United States among which 7,240 will be men and 5,510 will be females. In terms of mortality, this society has stated that around 5,270 Americans are expected to die due to Sarcoma in the year 2019. It has been observed that around 40 people in 1 million suffer from Sarcoma in the United States every year.
To deal with this cancer, companies are focusing on developing drugs that will reduce the symptoms of Sarcoma. Due to the growing adoption of people to the novel therapeutics and rising focus of companies to establish their strong presence in the United States, it is expected that the market for sarcoma drugs will be witnessing high growth in this region over the forecast period.
Competitive Landscape
The sarcoma drugs market is highly consolidated and consists of a few players. In terms of market share, all the companies currently hold considerable share. However, with technological advancements and product innovations, mid-size to smaller companies are expected to penetrate the market and by introducing new drugs at cheaper prices. Hence, these new entrants are considered to hold a substantial share in the future.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Eisai Co., Ltd.
- Johnson and Johnson
- Bayer AG
- Pfizer Inc.
- Fresenius Kabi AG
- Novartis AG
- Epizyme, Inc.
- Eli Lilly and Company
Methodology
LOADING...
