Soft Tissue Sarcoma Market to Witness a Rise in Revenue Share of US$ 6,465.7 Million by 2030
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The rising rate of soft tissue sarcoma diagnoses drives the global market growth. The American Society of Clinical Oncology (ASCO) data shows that 13,130 Americans received an STS diagnosis in the United States in 2020. Additionally, it is likely that there will be about 13,400 new instances of soft tissue sarcoma in 2023, with 7,400 of those cases occurring in men and 6,000 in women. Thus, the increasing prevalence of the condition is linked to the expanding patient base, which ultimately raises the need for associated therapies and creates a foundation for market expansion.
For the treatment of advanced cases of the disease, the majority of soft tissue sarcoma market participants are developing cutting-edge drugs and therapies. The market consequently observes a robust pipeline from both established and emerging businesses. Moreover, effective reimbursement procedures are a key component in the development of the STS market. For instance, Yondelis was added to the National Health Insurance (NHI) reimbursement price list in Japan with a reimbursement price of around US$ 459.73 for 0.25mg and US$ 1843.31 for 1mg of the prescription. Yondelis has a permanent, medication-specific HCPCS code of J9352. As a result of growing purchasing power, one is able to cover out-of-pocket expenses.
Targeted Therapies to Generate the Highest Share
Targeted therapy is gaining popularity in the market for treating soft tissue sarcomas as it offers a more tailored and effective treatment plan than traditional chemotherapy. The US Food and Drug Administration and the European Medicines Agency, among other regulatory agencies, have approved numerous targeted treatments for soft tissue sarcoma (EMA). For the treatment of liposarcoma and leiomyosarcoma, the targeted drug trabectedin has received approval. It hinders cancer cells' ability to repair their DNA. Another example is imatinib, a medicine that targets the protein that feeds gastrointestinal stromal tumors (GISTs), a form of soft tissue sarcoma.
North America to Generate the Highest Revenue Share
North America dominated the global soft tissue sarcoma market, holding a sizable amount of revenue. The prevalence of soft tissue sarcoma, the presence of cutting-edge healthcare infrastructure, generous payment practices, and the existence of sizable market participants are factors supporting the region's expansion. For instance, the availability of modern diagnostic technologies like MRI and CT scans has aided in the early detection of soft tissue sarcoma in the region.
According to the American Cancer Society, 13,000 new cases of soft tissue sarcoma are reported each year in the US. The key factors contributing to the disease's growing incidence are the aging population and lifestyle changes. Modern healthcare infrastructure in North America is another important factor driving the growth of the soft tissue sarcoma market. The availability of contemporary healthcare facilities, such as fully-stocked hospitals and cancer treatment facilities, has raised the demand for cutting-edge soft tissue sarcoma treatments. The favorable cancer treatment reimbursement laws in the region also drive market growth.
Furthermore, the existence of prominent market players in North America, such as Pfizer Inc., Eli Lilly and Company, and Johnson & Johnson, has aided in the development of cutting-edge medicines for soft tissue sarcoma. These companies continuously invest in R&D initiatives to produce new and effective medicines for soft tissue sarcoma.
Companies Profile
Many significant market participants are participating in the fiercely competitive soft tissue sarcoma market. In order to increase their worldwide footprint, market participants are also pursuing a number of market advancements, such as new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other businesses. To grow and survive in a very competitive and growing market environment, competitors in the soft tissue sarcoma sector must offer affordable products.
GlaxoSmithKline plc (GSK), a multinational pharmaceutical company, creates and produces a variety of pharmaceuticals, vaccines, and consumer healthcare items. The company has operations in more than 150 countries and has about 95,000 workers worldwide. According to Astute Analytica, the company has developed cutting-edge therapies for a range of malignancies, including soft tissue sarcoma. The company's research and development efforts in this field are concentrated on finding novel targets and developing custom medications to address the distinct genetic abnormalities linked to various subtypes of soft tissue sarcoma.
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Eli Lilly and Company, a global pharmaceutical company, has expanded to become one of the largest pharmaceutical corporations in the world. The company is committed to developing novel oncology therapies for a variety of cancers, including soft tissue sarcoma. In addition, their research and development efforts in this field are concentrated on finding novel targets and developing custom medications to address the distinct genetic abnormalities linked to various subtypes of soft tissue sarcoma.
Some of the well-known companies profiled in the global soft tissue sarcoma market are:
Novartis
Eisai
Pharma Mar
Eli Lilly
Bayer/Loxo Oncology
Bayer
Pfizer
GlaxoSmithKline
Hospira
Roche
Other Prominent Players
Segmentation Analysis
The global soft tissue sarcoma market segmentation focuses on Therapy and Country.
By Therapy
Halaven
Gleevec
Vitrakvi
Lartruvo
Stivarga
Yondelis
Sutent
Votrient
Rozlytrek
Gemicitidien
Others
By Country
The US
Germany
France
Italy
Spain
The UK
Japan
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Aamir Beg
Astute Analytica
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