Global Statistics Representing Bone Metastasis Market Scenario
According to the American Cancer Society, in 2018 around 164,690 new cases and about 29,430 deaths occurred from prostate cancer. Increase prevalence of breast cancer is driving the growth of the market. As per the Breast Cancer Association, in 2018, 266,120 new cases of invasive breast cancer were diagnosed in women in the U.S. Moreover, the other factors boosting the growth of the market include increasing geriatric population, growing healthcare expenditure, and rising R&D expenses by key players.
The cancers such as prostate, breast, and lung are most likely to spread to the bone. The spread of any type of cancer to bone can result in severe pain, hypercalcemia, pathologic fracture, and spinal cord or nerve root compression. According to the Modern Medicine Network, approximately 30% to 60% of patients with advanced lung cancer develops bone metastases. Moreover, some of the symptoms of the disease include Urinary incontinence, bowel incontinence, and hypercalcemia.
The global bone metastasis market was valued around USD 13,410 million in 2017 and expected to grow at a CAGR of 8.1% in the forecast period.
The global bone metastasis market is segmented by type, diagnosis, treatment, and end-user.
On the basis of type, the market segmented into osteolytic bone metastasis, osteoblastic bone metastasis, mixed bone metastasis and others. Osteolytic bone metastasis is expected to leading segment during forecast period.
Based on the diagnosis, the market is segmented into biopsy, blood test, imaging and others.
On the basis of treatment the market is segmented into medical therapies, surgery, medication and others.
Based on the end-user the market is segmented into hospitals & clinics, diagnostic centers, pharmacies and ambulatory surgical centers.
The global bone metastasis market is divided into major four regions such as North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East & Africa.
North America dominates the market due to the presence of a well-developed healthcare sector and growing prevalence of breast cancer in the region. Increasing research on cancer stem cell is boosting the demand of the market in future.
Europe is likely to stand second in the market owing to the increasing prostate cancer, government support, reimbursement policies in this region. According to the Cancer Research U.K, in males prostate cancer is the most common cancer, with around 47,200 new cases in 2015. Prostate cancer accounts for 26% of all new cancer cases in males in the UK.
Moreover, Asia Pacific is predicted to be the fastest growing region due to the presence of developing healthcare sector and growing prevalence of cancer are major drivers for the growth of the market. As per the American Cancer Society, 56% of the world’s population (3.8 billion), contributes 44% of all cancer cases (6.4 million out of 14.1 million) and 51% of all cancer deaths (4.3 million out of 8.2 million) worldwide, with China representing most of the cancer burden. It is estimated that the China alone accounts for 50% of all cancer cases in this region.
Additionally, Middle East and Africa holds the least share, this is mainly due to the presence of poor economies, stringent government policies, and lack of healthcare services, especially in the African region.
In January 2019, Exelixis received FDA approval for Cabozantinib (Cabometyx), which improves survival in renal cell carcinoma (RCC) Patients with Bone Metastases.
The market comprises of some of the major players including Bayer AG, Merck & Co., Inc., Pfizer Inc., Novartis AG, Pharmalucence Inc., Koninklijke Philips N.V., GENERAL ELECTRIC, Siemens AG, TOSHIBA CORPORATION, and others.
Bone Metastasis Market Segmentation
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