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Global Bone Cancer Drug Market, by Type (Multiple Myeloma, Osteosarcoma, Chondrosarcoma, and Ewing’s Sarcoma), by Treatment Type (Targeted Therapy, Chemotherapy, Radiation Therapy, and Surgery), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,170.5 Mn in 2021 and is expected to exhibit a CAGR of 5.1% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Increasing launches of new drugs and regulatory approvals for bone cancer drug are expected to propel growth of the global bone cancer drug market over the forecast period. For instance, in October 2020, Oncternal Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies, announced that the U.S. Food and Drug Administration (FDA) had granted rare pediatric disease designation for TK216, an investigational potentially first-in-class targeted small-molecule inhibitor of the E26 transformation-specific (ETS) family of oncoproteins, for treatment of Ewing sarcoma.

Global Bone Cancer Drug Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic has drastically affected several clinical trials. Various trials have been paused enrollment and researchers are facing multiple challenges associated with setting up remote visits, and performing laboratory and other study assessments. For instance, according to a survey conducted by Medidata Solutions, Inc. (a U.S. based technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies. The U.S. Food and Drug Administration (FDA) released guidelines on conducting clinical trials of medical products during the COVID-19 public health emergency in March 2020. The guidelines were further updated on July 02, 2020. The guidelines issued by the U.S. Food and Drug Administration (FDA) include general considerations to assist sponsors and researchers, which ensure the safety of trial participants, and compliance with good clinical practice (GCP) for the duration of the COVID-19 public health emergency

Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Bone Cancer Drug Market”-  Forecast to 2028, Global Bone Cancer Drug Market, by Type (Multiple Myeloma, Osteosarcoma, Chondrosarcoma, and Ewing’s Sarcoma), by Treatment Type (Targeted Therapy, Chemotherapy, Radiation Therapy, and Surgery), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/bone-cancer-treatment-market-93

Moreover, regulatory approvals for bone cancer drug is also expected to aid in growth of the global bone cancer drug market over the forecast period. For instance, in September 2018, Cellectar Biosciences, Inc. received Orphan Drug designation from the US FDA for CLR 131, a radioiodinated PDC therapy to be developed for the treatment of pediatric osteosarcoma. This US FDA’s Orphan Drug designation provides company to seven-year market exclusivity as well as increased engagement and assistance from the US FDA and incentives from the government

Key Takeaways of the Global Bone Cancer Drug Market:

  • The global bone cancer drug market is expected to exhibit a CAGR of 5.1% during the forecast period due to rising research and development collaboration by pharmaceutical companies is expected to boost growth of the market. For instance, in February 2021, 4D pharma plc a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs), a novel class of drug derived from the microbiome, announced a clinical trial collaboration and supply agreement with Merck KGaA, Darmstadt, Germany and Pfizer Inc. for BAVENCIO (avelumab), the first and only immunotherapy approved as a first-line maintenance treatment for patients with locally advanced or metastatic urothelial carcinoma. BAVENCIO is co-developed and co-commercialized by Merck KGaA, Darmstadt, Germany and Pfizer Inc.
  • Among type, osteosarcoma segment is accounted for the largest market share in global bone cancer drug market in 2021. For instance, in November 2018, Acrotech Biopharma, a subsidiary of Aurobindo Pharma received the U.S FDA approval for levoleucovorin (Khapzory) injection, a folate analog for the treatment of osteosarcoma and colorectal cancer in combination with fluorouracil. The approval of levoleucovorin represents major advances in the treatment of these patients through targeted mode of action.
  • Among regions, North America accounted for the largest market share in global bone cancer drug market in 2021. For instance, 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%). Furthermore, according to 2016 Cancer, net estimates, 3,300 people of all ages in the U.S. would be diagnosed with primary bone cancer.
  • Major players operating in the global bone cancer drug market include Advaxis, Inc., Cellectar Biosciences, Inc., OPKO Health, Inc., Pfizer Inc., Amgen Inc., Novartis AG, Eli Lilly and Company, Debiopharm Group, Merck & Co, Bayer AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical,  Hoffmann-La Roche Ltd, and Teva Pharmaceutical
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