Increasing Cancer cases in the World to boost Solid Tumor Treatment Market Growth

 

Solid Tumors Treatment Market
Solid Tumor Treatment Market 

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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