Metastatic Bone Disease Treatment Market size is set to observe commendable growth over 2023-2032, given an increase in healthcare expenditure and the growing elderly population. A majority of newly diagnosed cancer cases is affecting adults aged 60 years and above, with 66 being the median age during the time of diagnosis.
According to data from the WHO, by 2030, 1 in 6 people will be aged 60 years or over. Since age is a risk factor for cancer, the prevalence of metastatic bone disease is expected to rise globally. Bone metastasis occurs when cancer cells break away from the original site and spread to the bones. The metastatic tumor may appear as the first sign of cancer or occur years after its treatment. While all cancer types can metastasize, prostate and breast cancers are most likely to spread to the bone.
A prominent trend contributing to the metastatic bone disease treatment market expansion is the introduction of funds to support cancer research. Citing an instance, in September 2022, the Oversight Committee of the CPRIT (Cancer Prevention and Research Institute of Texas) planned to approve over USD 49 million in new research grants. This initiative was taken as part of its mission to promote the development of cancer therapies. Furthermore, the growing burden of breast cancer among middle-aged and older women in the U.S. will boost metastatic bone disease diagnosis in the upcoming years.
Based on treatment, the radiation therapy segment is set to account for a considerable share of the metastatic bone disease treatment industry by 2032. The growing awareness about the role of radiation oncologists in treating widespread bone metastases in the absence of symptoms is one of the growth drivers. Radiation therapy is effective in warding off complications of bone lesions and extending the survival rate of patients with advanced cancers. The capability of radiopharmaceuticals to control existing pain and other symptoms will boost its demand and in turn, strengthen the industry outlook.
Metastatic bone disease treatment market size from the hospitals end-user segment will depict an appreciable growth rate over the forecast period, driven by the extensive availability of resources. Apart from the provision of effective treatment and support, hospitals provide educational resources about cancer and its treatments to patients. Additionally, the availability of favorable reimbursement policies for drugs and the delivery of quality-of-care services will augment the adoption of metastatic cancer bone disease treatments in hospital settings.
North America metastatic bone disease treatment industry value is expected to rise appreciably between 2023 and 2032, on account of the high incidence of prostate cancer. As per statistics from the American Cancer Society, in 2022, nearly 268,490 new prostate cancer cases were expected to be diagnosed in the region. In addition, the increasing regulatory approvals for cancer treatment technologies and the rising elderly population prone to chronic diseases will create robust demand for targeted therapy for bone metastases and foster regional market dynamics over the forthcoming years.
The competitive landscape of the global metastatic bone disease treatment market consists of companies such as Medtronic, Fresenius Kabi, Boston Scientific Corporation, C. R. Bard (BD), Eli Lilly and Company, Novartis, F. Hoffmann-La Roche, Bayer, and Merck, among others. These companies are focusing on product range expansions, collaborations, and acquisitions to boost their foothold in the global market.