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An increase in medical infrastructure and advancement in technologies are among the major factor projected to impel the growth of the Bone Cancer Market

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- Bone Cancer Market size is valued at $ 1,223 Million and is anticipated to grow at a CAGR of 5.4% during the forecast period 2020-2025. The Bone Cancer Market growth rate is attributed to the rise in the prevalence of cancer is generating high demand for effective medications and treatments in the global market. Bone cancer can be benign or malignant. Persistent bone pain, lump over bones, and weakness of bones are some of the common symptoms of the disease. If such symptoms remain unchecked, then bone cancer becomes life-threatening. Thus, timely diagnosis and treatment of the disease are crucial. This provides the developmental background for market growth. From improvements made to enhance timely diagnosis and treatment, in order to increase the survival rate to many governmental organizations taking initiatives to increase awareness about bone cancer is anticipated to propel the Bone Cancer Market during the forecast period 2020-2025.

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Key Takeaways

1. North America dominated the Bone Cancer Market with a share of 37% in the year 2019.

2. The factors such as rising awareness amongst the population for bone cancer coupled with an increase in medical infrastructure and advancement in technologies are amongst the major factor projected to impel the growth of the Bone Cancer Market.

3. Favorable reimbursement policies, increasing healthcare expenditure, and rising R&D investments by the market key players are the key factors owing to the growth in the segment during the forecast period 2020-2025.

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Segment Analysis

Primary bone Cancer (Sarcomas) segment held the largest share in the market over Secondary Bone Cancer as it is classified into various types amongst which osteosarcoma is the most common type affecting the bones owing to its high prevalence amongst children and teenagers. Also, the cells causing it is further classified into high intermediate and low grade depending on the ways of treatment. In adults, over 40% of primary bone cancers are caused by chondrosarcomas According to The American Cancer Society’s estimates for cancer of the bones and joints for 2020 revealed that over 56% of the osteosarcoma affected are among children and teenagers. Furthermore, R&D is being performed at various medical centres and other institutions across the globe owing to the high prevalence of various types of primary bone cancers.

2. On the basis of therapy type, the chemotherapy segment held the major share of the market in terms of revenue and is estimated to grow with a CAGR of 4.3%. The reason is attributed to the presence of FDA-approved drugs. Chemotherapy of Bone Cancer is believed to rise effectively as researchers are also looking and testing for new chemo drugs, and trying to find better ways to use the drugs that are already present. Furthermore, as bone cancer is amongst some of the most common cancer types and doctors are trying to find out chemo drugs that might reduce the side effects by studying the way the brain develops and works as the survivors grow older which is anticipated to further expand the consumption rate over the projection period of 2020-2025.

3. North America dominated the Bone Cancer Market with a share of 39% in 2019. The application of Bone Cancer has grown rapidly over the last few years owing to the growing awareness amongst doctors and mostly because in the U.S. many clinical trials are underway for bone cancer therapies while most of them are for finding new chemo drugs. According to the estimates by the American Society of Clinical Oncology, the United States witnessed 3,450 new cases of bone cancer and an unexpected 1,590 deaths due to bone cancer in the year 2018. Doctors and researchers are also trying to find out new ways to use the existing approved drugs like the addition of bisphosphonate called zoledronic acid (Zometa) to the bone cement, used in filing the space left after a giant cell tumour that decreases the chances of a tumour returning back to that place are to cater the Bone Cancer Market in the forecast period of 2020-2025.

Competitive Landscape:

The top 5 players in the Bone Cancer Industry are -

1. Pfizer Inc.
2. Amgen Inc.
3. Novartis AG
4. Eli Lilly and Company
5. Debiopharm Group

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