Increasing Cancer cases in the World to boost Solid Tumor Treatment Market Growth
Solid Tumor Treatment Market (By Type: Sarcomas, Carcinomas; By
Treatment: Chemotherapy, Immunotherapy, Targeted Therapy; By Route of
Administration: Oral, Parenteral, Others; By End-Users: Hospitals, Research
Institutes, Homecare and Geography (North America, Europe, Asia-Pacific, and
Rest of the World) Size, Share, Outlook, and Opportunity Analysis, 2023-2030
The global Solid Tumor Treatment Market is estimated to be valued at
reach US$ 185.97 billion in 2022 and is expected to exhibit a CAGR of 11.9 %
over the forecast period, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
A solid tumor is an inflammation of irregular tissues that do not have
pouches of liquid, pus or air in it. Physicians segmented cancer in two groups
one is liquid tumors, such as leukemia and lymphoma, and the other one is solid
tumors, comprising tumors of the breast, pulmonary, prostate, colon, malignancy
and bladder. Chimeric antigen receptor T cell therapy has offered incredible
promise for the therapy of blood tumor such as leukemia and lymphoma. Anyhow,
utilizing CARs to cure solid tumors has been very stimulating. A group of
researchers at Memorial Sloan Kettering (MSK) has been executing on methods to
increase efficient CAR treatment for solid tumors.
Competitive Landscape:
Key players involved in the growth of global
solid tumors treatment market are Merck & Co, Allergan,Pfizer,
F.Hoffman- La Roche Ltd., Sanofi, AstraZeneca, Mylan N.V., Bayer AG, Novartis
AG, and Lupin.
Market Key Drivers:
Increasing prevalence of cancer across the globe is expected to augment
the growth of global solid tumor treatment market. For instance, as per Cancer
Journal around 1,958,310 new cancer cases were reported in 2023 across the
globe.
The rising use of nanomedicines in the industry for better curative
option is projected to drive the growth of the global solid tumor treatment
market. For instance, over the last two decades FDA and EMA have approved more
than 80 nanomedicines for marketing.
Covid-19 Impact Analysis:
The Covid-19 outbreak has adversely affected the growth of the global
solid tumor treatment market due to the restrictions imposed by regulatory,
less visits of cancer patients to hospitals. The trade market was interrupted
during the period, and this impeded cancer drug supply chain. The decrease in
biopsies and postponement in surgeries associated to solid tumor cancer impacted
the market growth. In this period, oncologists advised consumption of oral drugs
to deal with the disease.
Key Takeaways:
The global solid tumor treatment market is anticipated to exhibit a CAGR
of 11.9 % during the forecast period due to rising prevalence of breast cancer.
For instance, as per WHO, around 7.8 million women across the globe were
reported to suffer from breast cancer.
Among regions, North America, Europe, and Asia Pacific are expected to
witness robust growth in the global solid tumor treatment market due to rising
chronic disorders such as cancer, increasing geriatric population, rising use
of nanomedicines, growing product launches and approvals. For instance, as per
ACS, around 1.9 million people in US were reported to live with cancer in 2020.
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