Global Bone Cancer Drug Market to Surpass US$ 1,654.0 Million by 2028, Says Coherent Market Insights (CMI)
/EIN News/ -- SEATTLE, Aug. 18, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Global Bone Cancer Drug Market is estimated to be valued at US$ 1.170.5 million in 2021 and is expected to exhibit a CAGR of 5.1% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Bone Cancer Drug Market:
Key trends in the market includes launch of research project which is expected to drive the global bone cancer drug market growth over the forecast period. For instance, in February 2020, Count Me In, a non-profit research initiative, launched the Osteosarcoma Project, a patient-partnered effort that enables people in the U.S. and Canada who have been affected by osteosarcoma to accelerate research.
Key Market Takeaways:
The global bone cancer drug market is expected to exhibit a CAGR of 5.1% during the forecast period due increasing launches of new drugs and regulatory approvals for bone cancer drug expected to drive the market over the forecast period. For instance, in June 2018, Amgen is one of the world's leading biotechnology companies announced that the U.S. Food and Drug Administration (FDA) had approved the supplemental Biologics License Application (sBLA) for XGEVA (denosumab) to expand the currently approved indication for the prevention of skeletal-related events in patients with bone metastases from solid tumors to include patients with multiple myeloma. The approval is based on data from the pivotal Phase III '482 study, the largest international multiple myeloma clinical trial ever conducted, which enrolled 1,718 patients.
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Among type, osteosarcoma segment estimated to hold a dominant position in the global bone cancer drug market in 2021. Osteosarcoma is the most common type of cancer affecting bones, and it mostly occurs in children and young adults. Based on the cells, osteosarcoma is classified as high, intermediate, and low-grade. For instance, according to the American Cancer Society, 2019, about 800 to 900 new cases of osteosarcoma are diagnosed in the U.S. every year, with about half of these occurring in children and teenagers.
On the basis of treatment, chemotherapy segment accounted for the largest market share in the global bone cancer drug market over the forecast period. For instance, in April 2020, EMD Serono, the biopharmaceutical business of Merck KGaA, Darmstadt, Germany in the U.S. and Canada, and Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) had approved the supplemental Biologics License Application (sBLA) for BAVENCIO (avelumab) for the maintenance treatment of patients with locally advanced or metastatic urothelial carcinoma (UC) that has not progressed with first-line platinum containing chemotherapy.
Competitive Landscape:
Key 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, F. Hoffmann-La Roche Ltd, and Teva Pharmaceutical
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Market Segmentation:
-
Global Bone Cancer Drug Market, By Type:
- Multiple Myeloma
- Osteosarcoma
- Chondrosarcoma
- Ewing’s Sarcoma
-
Global Bone Cancer Drug Market, By Treatment Type:
- Targeted Therapy
- Chemotherapy
- Radiation Therapy
- Surgery
-
Global Bone Cancer Drug Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
-
Global Bone Cancer Drug Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
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