Solid Tumour Therapeutics Market Overview and Analysis:
The Global Solid Tumor Cancer Treatment market size was estimated at USD 178.6 billion in 2022, registering a CAGR of 12.2% during the forecast period 2023 to 2030.
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Solid tumor therapeutics is a critical component of the ongoing battle against cancer. With advancements in medical science and the development of innovative therapies, there is hope for improved outcomes and a higher quality of life for individuals diagnosed with solid tumors. Tailored treatment plans and a multidisciplinary approach that may include surgery, radiation, chemotherapy, and targeted therapies contribute to the fight against these challenging malignancies.
The market under examination is poised for growth in the foreseeable future, primarily propelled by a surge in cancer cases, ongoing research and development efforts, a rise in drug approvals, particularly for prostate cancer. Furthermore, the market is anticipated to benefit from the increasing support of government initiatives aimed at enhancing cancer awareness, further fueling its expansion throughout the forecast period.
Solid Tumour Therapeutics Market Latest Trends:
The field of solid tumor therapeutics is rapidly evolving with advancements in research, technology, and treatment strategies. Immunotherapy, particularly immune checkpoint inhibitors, continues to be a major trend in solid tumor treatment. These therapies harness the body's immune system to target and attack cancer cells. Checkpoint inhibitors like pembrolizumab (Keytruda) and nivolumab (Opdivo) have gained approval for various solid tumors, including lung, melanoma, and bladder cancers. Combinations of immunotherapies and other treatment modalities, such as chemotherapy or targeted therapy, are being explored to enhance efficacy. Thus, due to all these advantages the segment is expected to witness significant growth over the forecast period.
Segmentation:
The Solid Tumor Therapeutics Market is segmented
By Cancer Type :
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Cervical Cancer
- Other Cancer Types
Drug Type :
- Carboplatin
- Cisplatin
- Gemcitabine
- Paclitaxel
- Doxorubicin
- Bevacizumab
- Erlotinib
- Sunitinib
- Everolimusa
- Other Drug Types
Geography
- North America
- Europe
- Asia-Pacific
- Middle East
- Africa
- South America
The report offers the value (in USD million) for the above segments.
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Drivers :
Increasing Cancer Cases
The aging of the population is a significant factor in the rising cancer incidence. As people live longer, their risk of developing cancer increases, as cancer is more common in older individuals. For instance, according to the European Breast Cancer Coalition 2022 report 1 in 11 women in the European Union develop breast cancer before the age of 74. Also, according to 2021 statistics published by Breast Cancer Now, about 55,000 women are diagnosed with breast cancer in the United Kingdom every year. The same source reported that 46,000 people are diagnosed with breast cancer in England every year, followed by 4,700 in Scotland, 2,800 in Wales, and 1,500 in Northern Ireland. Thus, the high burden of breast cancer worldwide is expected to accelerate the demand for solid tumor therapeutics for breast cancer thereby boosting the market growth during the forecast period.
Increasing Government Initiatives for Cancer Awareness
The growth of the market is driven by several factors, including the rising incidence of breast cancer and the increasing initiatives by various governments and NGOs to raise awareness about the early diagnosis of microcalcifications in breast tissue. In India, the incidence of breast cancer is on the rise, particularly in urban areas among women aged 30 to 40, as reported by the Indian Council of Medical Research (ICMR) 2020 National Cancer Registry Programme Report. Lack of knowledge has led to delays in diagnosis, making it a significant factor contributing to mortality rates. The Indian healthcare system is making significant progress due to economic growth and the expansion of ambulatory clinics, public hospitals, and diagnostic centers across the country. The penetration rate of diagnostic imaging is increasing with the expansion of these healthcare centers. In urban centers, several Tier-I hospitals are transitioning from analog mammography techniques to digital tomosynthesis or 3-D mammography to reduce the number of false positives associated with the analog version. In India, high unmet needs, increasing incomes, rising funding from various public and private organizations, and collaboration between different government organizations are expected to drive the overall growth of the market during the forecast period.
Restraints
Stringent Regulatory Reforms and Price Erosion Due to Generic Competition
Stringent regulatory reforms and price erosion due to generic competition are significant challenges in the field of solid tumor therapeutics. The drug approval process is becoming more demanding and time-consuming. Pharmaceutical companies must provide comprehensive evidence of a drug's benefit-risk profile, often requiring multiple phases of clinical trials. As a result the growth of the studied market may slow down over the forecast period.
COVID-19 Impact on Solid Tumour Therapeutics Market
The solid tumor therapeutics market was significantly impacted by COVID-19 in its initial phases due to supply chain restrictions and lockdown measures. According to an article published in the Vaccines Journal in December 2022, cancer treatments were delayed worldwide during the first year of the pandemic. Additionally, cancer patients were at a high risk of COVID-19 infection. The same article reported that 5% to 50% of cancer care screening and treatment was disrupted in all countries during the last quarter of 2021. Consequently, COVID-19 had a substantial impact on the studied market. However, with COVID-19 cases under control, the market has started to regain its pre-pandemic nature in terms of demand for various solid tumor therapeutics.
Segmental Analysis
Breast Cancer Segment is Expected to Witness Significant growth over the Forecast Period
Breast cancer is the most commonly occurring disorder among the population majorly seen in females with rising disorder. Breast cancer is mostly developed in the tissues of the breast. Symptoms of breast cancer are the formation of lumps in the breast, size, and shape difference of the breast, fluid coming out of the nipple, and irritating, scaly, red patches on the skin. It is a disorder that spreads the disease with increasing symptoms such as pain in the bones swelling of lymph nodes, breathing problems, and many more. Furthermore, the recent developments are expected to drive the growth of the studied market. For instance, In the year 2020 September, the Partnership of Natco Pharma with Lupin introduced Lapatinib Tablets, 250mg, in the U.S. after receiving approval for the Abbreviated New Drug Application from the (USFDA) U.S. Federal Drug Administration. Natco to be the first industry to the introduction of Lapatinib Tablet with 250mg. Thus, due to the above-mentioned reasons the segment is expected to witness significant growth over the forecast period.
Carboplatin Segment is Expected to Witness Significant Growth Over the Forecast Period
Carboplatin belongs to the group of medicines known as alkylating agents. It is used to treat cancer of the ovaries. Carboplatin is in a class of medications known as platinum-containing compounds. It works in a way similar to the anticancer drug cisplatin but may be better tolerated than cisplatin. Carboplatin works by killing, stopping, or slowing the growth of cancer cells. Thus, due to the above-mentioned reasons the segment is expected to witness significant growth over the forecast period.
North American Region is Expected to Witness Significant Growth Over the Forecast Period.
North America is expected to hold a significant share of the powered surgical instrument market due to the high burden of cancer cases, research and development spending, and the strong presence of market players. The region has a high burden of solid tumors such as breast, lung, and colorectal cancer, which drives market growth. According to the American Cancer Society 2023 statistics, around 1.9 million new cancer cases are estimated to be diagnosed in the United States in 2023, including an estimated 153 thousand colorectal cancer cases and 238.3 thousand lung and bronchus cancer cases. This high burden of new cancer cases in the region is projected to boost research and development efforts for developing advanced solid tumor therapeutics, thereby accelerating market growth.
Moreover, the United States government provided grants of USD 178 million, USD 346 million, and USD 479 million for the research and development of ovarian cancer, colorectal cancer, and lung cancer, respectively, in 2022. This high spending is projected to drive the development of advanced solid tumor therapeutics for these cancers, further augmenting the growth of the powered surgical instrument market in the region.
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Solid Tumour Therapeutics Market Competitive landscape:
The Solid Tumor Therapeutics Market is moderately competitive and has several major players. In terms of market share, few of the major players currently dominate the market with the rising need for cancer treatment and the increasing prevalence of cancer. However, the entry of a few smaller players in the market is accepted, and they may hold a substantial share. Some key market players are:
- Amgen Inc.
- AstraZeneca PLC
- F. Hoffmann-La Roche AG
- GSK Plc
- Eli Lilly and Company
Recent Development:
1. November 2022: Intensity Therapeutics announced that data from its ongoing phase 1/2 clinical trial demonstrating the efficacy and tolerability of INT230-6, either as monotherapy or in combination with pembrolizumab in patients with relapsed refractory and metastatic solid tumors, was presented at the 2022 Society for Immunotherapy of Cancer (SITC) Annual Meeting.
2. September 2022: Eli Lilly and Company received the United States Food and Drug Administration approval for Retevmo (selpercatinib capsules) for adult patients with locally advanced or metastatic solid tumors.
Frequently Asked Questions (FAQ) :
Q1. What is the current Solid Tumour Therapeutics Market size?
The Global Solid Tumor Cancer Treatment market size was estimated at USD 178.6 billion.
Q2. What is the Growth Rate of the Solid Tumour Therapeutics Market?
Solid Tumour Therapeutics Market is registering a CAGR of 12.2% during the forecast period.
Q3. What are the Growth Drivers of the Solid Tumour Therapeutics Market?
Increasing Cancer Cases and Increasing Government Initiatives for Cancer Awareness are the Growth Drivers of the Solid Tumour Therapeutics Market
Q4. What segments are covered in the Solid Tumour Therapeutics Market Report?
By Cancer Type, By Drug Type & Geography these segments are covered in the Solid Tumour Therapeutics Market Report.
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Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
