Global Solid Tumor Cancer Treatment Market Is Expected To Reach US$ 424.6 Bn By 2027
The latest market report published by Brisk Insights “Global Solid Tumor Cancer Treatment Market - Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global solid tumor cancer treatment market was valued at US$ 121.3 Bn in 2018, and is expected to reach US$ 424.6 Bn by 2027, expanding at a CAGR of 15.0% from 2019 to 2027.
As per the research findings of International Agency for Research (IARC) on Cancer in association with World Health Organization (WHO) in 2018, approximately 18.1 million new cases of cases were reported. They also claim that 1 in 6 women and 1 in 5 men are likely to develop cancer during their lifetime.
Breast cancer is dominating the indication segment for solid tumor cancer treatment market. The major factors hold responsible for its rising prevalence in female population worldwide is hormonal imbalance during the menstrual cycle, unhealthy lifestyle and low or no breastfeeding during lifetime. A significant spurt is expected to be seen in the prevalence rate of lung cancer throughout the globe on account of significant rise in the number of smokers and rising air pollution at an alarming rate.
Chemotherapy is currently the largest market in the therapy segment for solid tumor cancer treatment. Availability of its generic version at affordable cost increases its popularity in treating cancer. It is used alone or in combination for treating tumors in different parts of the human body. Biological molecules such as immunotherapy and targeted therapy are gaining prominence in cancer treatment on account of its excellent pharmacodynamic features ensuring minimal side effects and maximum therapeutic efficacy. Favorable reimbursement scenario further increases its demand in cancer treatment.
North America is presently holding 33.6% market share in the regional segment for solid tumor cancer treatment market. According to the research citing brought forward by Center for Disease Control and Prevention, in a span of 10 years form 2010-2020, in the United States approximately 1 million cases will be reported in men population and 900,000 in female population annually. Europe accounts for 30.2% market share on account of supportive regulatory environment provided by European Medical Agency (EMA) for the development and sale of medicines used in treatment of solid tumor cancer. Asia Pacific with a share of 19.5% is keen to register magnificent growth in the near future owing to the rising public health awareness regarding cancer and its treatment and developing healthcare infrastructure.
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.
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
Browse the full report Solid Tumor Cancer Treatment Market - Growth, Future Prospects, Competitive Analysis, 2019 – 2027 report at https://www.briskinsights.com/report/solid-tumor-cancer-treatment-market
The Global Solid Tumor Cancer Treatment Market is Segmented into:
By Indication (2017–2027; US$ Bn)
By Therapy (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)
*Complete segmentation list is on report page