Bone Cancer Treatment Market Analysis
Bone Cancer Treatment Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Bone Cancer Treatment Market Overview
Cancer is one of the most prevalent fatal chronic disorders with a high mortality rate due to its extremely invasive nature and prolonged duration of disease. Bone cancer is a type of cancer in which the bone tissues grows in an uncontrollable manner. This growth may be benign or malignant. In most cases bone cancer results from other cancers such as lung cancer, kidney cancer, prostate cancer, and breast cancer, which is also called secondary or metastatic bone cancer. The major and primary symptom of bone cancer is severe bone pain, which usually intensifies with time. In addition to pain, symptoms such as weight loss, fever, fatigue, muscle pain, bone crack, osteoporosis and osteopenia are also identified. Diagnosis of bone cancer includes understanding patient’s history and reasons causing pain. Besides, bone cancer can be diagnosed using imaging techniques such as computerized tomography (CT), bone scan, magnetic resonance imaging (MRI), positron emission tomography (PET) scanning, and biopsy tests.
Bone cancer treatment market can be classified on basis of type and treatment available for bone cancer
The bone cancer treatment market is analyzed on the basis of type of bone cancer into primary bone cancer and secondary bone cancer. Primary bone cancer originates from fast and uncontrollable growth of the bone and other related tissues. Types of primary bone cancer include osteosarcoma, chondrosarcoma, Ewing’s sarcoma, spindle cell sarcoma, and chordoma. Secondary bone cancer, also called metastatic bone cancer, arises due to spreading of cancer cells from different parts of body. It is also referred as metastatic bone cancer.
On the basis of therapies or treatments available, the global bone cancer treatment market is classified as radiation therapy, chemotherapy, cryosurgery, and surgical treatments. The major surgical practices used to treat bone cancer are limb amputation surgery and limb salvage surgery or limb sparing surgery. In radiation therapy, high energy X-rays or gamma-rays are used to destroy tumors. Chemotherapy is a pharmacological treatment that involves the use of anti-cancer drugs. Major drugs include strontium-89 chloride, bisphosphonates, methotrexate, and doxorubicin, among others. Cryosurgery is sometimes used in lieu of conventional surgery to kill tumors.
Increasing disease incidence creating favorable growth environment for Bone cancer treatment market
Developed markets such as the U.S., U.K., Japan, Canada, Australia, Germany, and Spain have a robust healthcare infrastructure that provides patients with easy access to advanced healthcare facilities, which aids in early diagnosis of bone cancer. According to the American Cancer Society (ACS), approximately 3,300 new cases of bone cancer are expected to be diagnosed in 2016, resulting in around 1,490 deaths in the same year. Moreover, the ACS sates that in adults over 40% of primary bone cancers are chondrosarcomas. This is followed by osteosarcomas (28%), chordomas (10%), Ewing tumors (8%), and malignant fibrous histiocytoma/fibrosarcomas (4%). According to 2016 Cancer.Net estimates, 3,300 people of all ages in the U.S. would be diagnosed with primary bone cancer. New cases of bone cancer being diagnosed would propel growth of the bone cancer treatment market in the U.S. On the other hand, rising incidence rate in Asia Pacific is expected to be a major growth factor for the global bone cancer treatment market, supported by growing awareness among the populace.
Global players involved in the bone cancer treatment market
Major players involved in bone cancer treatment market include Amgen Inc., Actavis plc, Novartis International AG, Debiopharm Group, Pfizer, Inc., and Eli Lilly and Company.
Dr. Andre Roodt, a researcher at the University of Free State has developed pain relieving drug for bone cancer patients in December 2016. The drug is a liquid radioactive isotope that can detect cancer in the body. Innovation in treatment options would lead to better therapeutic outcomes.
Key developments in the bone cancer treatment market
Key players in the market are focused on gaining product approvals to expand their product portfolio. For instance, in August 2019, the U.S. FDA approved Celgene Corp's Inrebic – a JAK inhibitor that blocks inflammation-causing Janus kinases enzymes— for bone marrow cancer treatment.
Moreover, major companies are adopting acquisition strategies to enhance their market share. For instance, in January 2019, Bristol-Myers Squibb announced to acquire Celgene Corp. in a US$ 74 billion deal.
Research and development of material that replicates human bone tissue is expected to offer lucrative opportunities for market players. For instance, in August 2019, a team of researchers from the Oregon Health and Science University published a research in the journal Nature Communications on the successful development of bone models replicating the key hallmarks of the bone cellular and extracellular microenvironment.