February 27, 2020
Solid Tumor Cancer Treatment

Sales of Solid Tumor Cancer Treatment to Surpass US$ 424.6 Bn by 2027

The global solid tumor cancer treatment market was valued at US$ 121.3 billion in 2018 and is expected to reach US$ 424.6 billion by 2027, increasing to CAGR by 15.0 per cent from 2019 to 2027.

According to research findings of the International Agency for Research (IARC) on Cancer in association with the World Health Organization (WHO) in 2018, approximately 18,1 million new cases have been reported. They also argue that 1 in 6 women and 1 in 5 men are likely to develop cancer during their lifetime.

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Breast cancer is dominant in the indication market for the treatment of solid tumors. Hormonal imbalance during the menstrual cycle, poor lifestyle and low or no breast-feeding are the main factors responsible for its increasing prevalence in the female population worldwide. A significant increase in the prevalence of lung cancer worldwide is expected due to a significant increase in the number of smokers and an alarming increase in air pollution.

Chemotherapy is currently the largest market in the treatment segment for solid tumor cancer. The availability of its generic version at an affordable cost increases its popularity in cancer treatment. It is used alone or in combination to treat tumors in different parts of the human body. Biological molecules, such as immunotherapy and targeted therapy, are gaining prominence in cancer treatment due to their excellent pharmacodynamic characteristics, ensuring minimal side effects and maximum therapeutic efficacy. Favorable reimbursement scenario further increases its demand for cancer treatment.

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Pharmaceutical companies spearheading the solid tumor cancer treatment market are AstraZeneca, Plc., Amgen, Inc., B. Braun Melsungen AG, Bristol Myers Squibb & Company, Eli Lilly & Company, F.Hoffman La-Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc. and Olympus Medical Systems.

North America currently holds a 33.6 per cent market share in the regional market for solid tumor cancer treatment. According to the research cited by the Center for Disease Control and Prevention, in the ten-year period 2010-2020, approximately 1 million cases in the United States will be reported in the male population and 900,000 in the female population annually. Europe has a market share of 30.2 per cent due to the supportive regulatory environment provided by the European Medical Agency (EMA) for the development and sale of medicines used in the treatment of solid tumor cancer. Asia Pacific, with a share of 19.5 per cent, is keen to see magnificent growth in the near future as a result of increasing public health awareness of cancer and its treatment and development of healthcare infrastructure.

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Key Market Movements:

  • Significant rise in the diagnosis of new cases of cancer worldwide
  • Recent approval of biologics exhibiting excellent pharmacodynamic properties with minimal side effects
  • Affordable reimbursement scenario for medicines employed for the treatment of solid tumor cancer

Key questions answered in this report

  • Which are the major biopharmaceutical companies actively providing medicines for the treatment of solid tumor cancer?
  • Which organic and inorganic market growth strategies are being considered for performing market assessment?
  • What is the disease etiology and prevalence rate of common types of cancer worldwide?
  • What does biologics comprise of and what will be its CAGR during the growth period?
  • What is the market size in developed regions such as North America and Europe?

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