Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Sarcoma Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global sarcoma drugs market has grown strongly in recent years. It will grow from $1.28 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%.The expansion observed in the historical period can be ascribed to factors such as the development of healthcare infrastructure, the establishment of treatment guidelines, the influence of patient advocacy groups, advancements in diagnosis methods, and a heightened awareness of the respective diseases. North America was the largest region in the sarcoma drugs market in 2023.
The global sarcoma drugs market is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period is linked to various factors, including the increasing demand for novel therapies, rising investments in healthcare, the emergence of precision medicine, advancements in clinical trials and discoveries, and ongoing research and development activities. Key trends expected during this period encompass advancements in immunotherapy, the adoption of combination therapies, initiatives for early diagnosis, ongoing biomarker research, and a growing emphasis on a patient-centric approach.
The escalating incidence of soft tissue sarcoma is expected to drive the growth of the sarcoma drugs market. As reported by the American Cancer Society in January 2023, approximately 13,400 new cases of soft tissue sarcomas are anticipated to be diagnosed in the United States, with an estimated 5,140 deaths attributed to this form of cancer in the same year. Consequently, the increasing prevalence of soft tissue sarcoma is a significant factor propelling the growth of the sarcoma drugs market.
The growing demand for chemotherapy is poised to contribute to the expansion of the sarcoma drugs market. A report from Healthcare IT News in February 2022, citing the Union for International Cancer Control (UICC), predicted a rise in the demand for cancer chemotherapy from 10 million to 15 million by 2040. This surge in demand underscores the increasing reliance on chemotherapy, thereby driving the growth of the sarcoma drugs market.
The development of new and innovative therapies has emerged as a prominent trend gaining traction in the sarcoma drugs market, with major companies actively pursuing advancements to strengthen their market positions. A notable example is Aadi Bioscience, a US-based biopharmaceutical company, which introduced Fyarro in November 2021. Fyarro, a sirolimus protein-bound particle, represents a novel cancer medication designed for the treatment of an ultrarare and aggressive form of sarcoma known as advanced perivascular epithelioid cell tumor (PEComa). Aadi Bioscience envisions Fyarro becoming a standard care option for patients with PEComa, emphasizing its potential impact on advancing treatment options for this specific sarcoma.
Major companies in the sarcoma drugs market are strategically focusing on obtaining product approvals to drive market revenues. Genentech Inc., a US-based biotechnology company, received FDA approval in December 2022 for tecentriq (atezolizumab), a monoclonal antibody. Tecentriq is indicated for the treatment of adult patients with advanced alveolar soft part sarcoma (ASPS), marking the first-ever approved treatment for this uncommon soft tissue sarcoma. The medication targets the PD-1/PD-L1 pathway, blocking immune system suppression and offering a promising therapeutic option for individuals diagnosed with ASPS.
In March 2023, Pfizer Inc., a prominent US-based pharmaceutical company, completed the acquisition of Seagen Inc. for $43 billion. This strategic move positions Pfizer Inc. as a leader in cancer care and doubles the size of its oncology portfolio. Seagen Inc., a biotechnology company, is known for its focus on developing new cancer therapies. The acquisition underscores Pfizer's commitment to advancing its capabilities in the oncology space through strategic partnerships and expansion of its product offerings.
Report Scope
Markets Covered:
1) By Treatment Type: Chemotherapy; Targeted Therapy
2) By Disease Indication: Malignant Bone Tumors; Soft Tissue Sarcomaz
3) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies; Other Distribution Channels
Key Companies Mentioned: Amgen Inc.; Bayer AG; Eisai Co. Ltd.; Eli Lilly and Company; GlaxoSmithKline plc
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- Amgen Inc.
- Bayer AG
- Eisai Co. Ltd.
- Eli Lilly and Company
- GlaxoSmithKline plc
- Genentech Inc.
- Aadi Bioscience
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Services Inc.
- Novartis AG
- Pfizer Inc.
- AgonOX Inc.
- Daiichi Sankyo Company Limited
- Merck & Co. Inc.
- Abbott Laboratories
- AbbVie Inc.
- Amneal Pharmaceuticals LLC
- Pharma Mar SA
- Bristol-Myers Squibb Company
- Fresenius Kabi AG
- Ipsen SA
- Radiopharm Theranostics
- Baxter Healthcare Corporation
- Akeso Biopharma
- AstraZeneca plc
- BeiGene Ltd.
- Bausch Health Companies Inc.
- Celgene Corporation
- Shenzhen Chipscreen Biosciences Co. Ltd.
- Teva Pharmaceuticals Industries Ltd.
- Monopar Therapeutics Inc.
- Incyte Corporation
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Roche Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/dpy33r
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