New York, United States , June 13, 2023 (GLOBE NEWSWIRE) -- The Global Metastatic Bone Cancer Market Size is to grow from USD 19.7 Billion in 2022 to USD 38.9 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.04% during the forecast period.
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Bone metastasis is the term for when malignant cells spread to the bone from different parts of the body. Different terms for bone metastasis include metastatic bone disease and secondary bone malignancy. The propensity to spread to the bones exists in almost all cancers. On the other hand, certain cancers, including breast and prostate cancer, immediately migrate to the bones. Early-life diagnoses of cancer enhance a person's risk of developing bone metastases. Furthermore, cancer patients who have the illness in an advanced stage are more susceptible to bone metastases. Bone metastases commonly develop in the pelvis, thigh, and spine. Bones metastatic disease might manifest before other symptoms of the disease and after cancer treatment. Bone metastases can cause pain in the bones, broken bones, weakness, and high blood calcium levels that result in nausea, vomiting, constipation, and confusion. According to the Modern Medicine Network, between 30% and 60% of people with advanced lung cancer have bone metastases.
The market for metastatic bone disease is expected to grow quickly because of growing healthcare expenses and an aging population. The rise in cancer prevalence throughout the world, advantageous reimbursement circumstances, stringent regulatory rules ensuring higher product quality, increased financing for cancer research, and the approval of new treatments are the main factors driving the global market for metastatic bone disease. Additionally, the market for bone metastatic bone disease would rise throughout the projection period as a result of rising technological advancements, the development of new products, and clinical trials. Furthermore, The Food and Medication Administration's (FDA) slow drug approval procedure and the high cost of cancer treatment are the key issues inhibiting the bone metastasis sector from expanding. The absence of diagnostic tools is another factor that limits the market revenue growth of bone metastases.
Browse key industry insights spread across 210 pages with 135 Market data tables and figures & charts from the report on "Global Metastatic Bone Cancer Market Size, Share, and COVID-19 Impact Analysis, By Cancer Type (Osteoblastic Bone Metastasis and Osteolytic Bone Metastasis), By Diagnosis (Biopsy, Blood Test, Imaging, & Others), By Therapy (Chemotherapy, Hormone Therapy, Targeted Therapy, Immunotherapy, Radiopharmaceuticals), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032" Get Detailed Report Description Here:
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The osteoblastic bone metastasis segment is dominating the market with the largest market share during the forecast period.
The worldwide metastatic bone cancer market is divided into osteoblastic bone metastasis and osteolytic bone metastasis based on the type of cancer. Due to the frequent development of osteoblastic bone metastases in women with underlying breast cancer, the osteoblastic bone metastasis segment is leading the market with the biggest revenue share over the projection period. The high prevalence of breast cancer in comparison to other cancer types is anticipated to contribute to the segment's leading share throughout the forecast year. The original lesion is lytic and destructive despite the regional bone-formation response. Solid tumors including breast, prostate, thyroid, lung, and kidney cancer may develop osteolytic metastases. Significant bone loss is yet another common adverse effect of multiple myeloma.
The biopsy segment is dominating the largest market growth over the forecast period.
The global metastatic bone cancer market is segmented based on the method of diagnosis into biopsy, blood test, imaging, and others. The biopsy category is dominating the market in each of these categories. During a bone biopsy, samples of the bone are removed and checked for the presence of cancerous or other abnormal cells (either during surgery or with a specific biopsy needle). A bone biopsy takes a sample of the bone's outer layers as opposed to a bone marrow biopsy, which uses the bone's inside. Imaging studies are also performed to look for any symptoms or indications that might point to bone metastases. X-rays, bone scans, CT scans, and MRIs are just a few of the tests that might be carried out.
The chemotherapy segment is influencing the largest market share during the forecast period.
The chemotherapy, hormone treatment, targeted therapy, immunotherapy, and radiopharmaceutical segments of the worldwide market for metastatic bone cancer are based on the type of therapy they use. This market is being dominated by the osteoblastic bone metastasis segment, which has the greatest market share throughout the projection period. This is because this segment uses medications to either kill or limit the proliferation of cancer cells. Chemotherapy is an option for systemic administration (intravenously or orally) and is successful in eradicating cancer cells throughout the body, including those that have spread to the bones.
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North America is leading the market with the largest market growth over the forecast period.
North America is leading the significant market growth during the forecast period due to breast cancer growing more prevalent there and the region has a strong healthcare economy. As a result of consuming more highly processed foods, sugary beverages, gaining weight, getting Type 2 diabetes, leading a sedentary lifestyle, and drinking more alcohol, the region has experienced a rise in cancer incidence. With more studies being done on cancer stem cells, the market demand is anticipated to rise. The expansion of the local market is further aided by the presence of multinational corporations like Merck & Co., Inc., and Pfizer, Inc.
Europe is predicted to be the second fastest-growing region during the forecast period.
Europe is anticipated to develop at the greatest growth rate throughout the projection period owing to the increased incidence of prostate cancer, local government aid, and insurance reimbursement methods. Approximately 47,200 new instances of prostate cancer are diagnosed per year, making it the most common illness affecting males, according to Cancer Research U.K. Prostate cancer represents 26% of new instances of male cancer in the UK. Early adoption of cutting-edge medical technology for cancer diagnostics and high cancer awareness is anticipated to promote the region's market growth over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Metastatic Bone Cancer Market include Merck, Amgen, F. Hoffmann-La Roche, Eli Lilly and Company, Novartis, Bayer, Fresenius Kabi, Boston Scientific Corporation, Medtronic, C. R. Bard, and others.
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Recent Development
In March 2022, The FDA permitted Novartis Pluvicto as the first targeted radioligand therapy for the treatment of metastatic castration-resistant prostate cancer.
In June 2021, the acquisition of PSMA Therapeutics Inc. and Noria Therapeutics Inc. by Bayer was announced. The acquisition expands Bayer's current cancer portfolio's reach.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Metastatic Bone Cancer Market based on the below mentioned segments:
Global Metastatic Bone Cancer Market, By Cancer Type
- Osteoblastic Bone Metastasis
- Osteolytic Bone Metastasis
Global Metastatic Bone Cancer Market, By Diagnosis
- Biopsy
- Blood Test
- Imaging
- Others
Global Metastatic Bone Cancer Market, By Therapy
- Chemotherapy
- Hormone Therapy
- Targeted Therapy
- Immunotherapy
- Radiopharmaceuticals
Metastatic Bone Cancer Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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