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Metastatic Bone Disease Treatment Market Size
Metastatic Bone Disease Treatment Market size is anticipated to experience substantial growth from 2024 to 2032, driven by increased healthcare spending and a growing elderly population. A significant portion of newly identified cancer cases affects individuals aged 60 and above, with a median age of 66 years at the time of diagnosis.
According to the World Health Organization (WHO), it is projected that by 2030, one in six people will be aged 60 or older. Given that age is a risk factor for cancer, the global prevalence of metastatic bone disease is expected to rise. This condition occurs when cancer cells break away from the primary site and spread to the bones, either as the initial indication of cancer or years after treatment. While all types of cancer can metastasize, bone metastasis is more common in prostate and breast cancers. Cognizance of early diagnosis and treatment will bolster the industry expansion.
Metastatic Bone Disease Treatment Market Trends
One significant trend contributing to the expansion of the market is the infusion of funds into cancer research. For example, in September 2022, the Oversight Committee of the Cancer Prevention and Research Institute of Texas (CPRIT) planned to approve over USD 49 million in new research grants, aiming to advance cancer therapies. Additionally, the increasing burden of breast cancer among middle-aged and older women in the U.S. is expected to drive the demand for diagnosis and treatment of metastatic bone disease in the coming years.
Metastatic Bone Disease Treatment Market Analysis
In terms of treatment, the radiation therapy segment is poised to hold a substantial market share by 2032, attributed to the increasing awareness of the role of radiation oncologists in treating bone metastases, even in the absence of symptoms. Radiation therapy proves effective in preventing complications of bone lesions and improving the survival rates of patients with advanced cancers. The demand for radiopharmaceuticals capable of managing pain and other symptoms is expected to further strengthen the industry outlook.
The hospitals end-use segment is expected to witness a commendable progression rate through 2032 propelled by the abundant availability of resources in hospitals, which not only provide effective treatment & support but also offer educational resources about cancer and its treatments. Moreover, favorable reimbursement policies for drugs and the delivery of high-quality care services will favor metastatic cancer bone disease treatments in hospital settings.
North America metastatic bone disease treatment market is anticipated to experience significant developement between 2024 and 2032, primarily due to the high incidence of prostate cancer. According to the American Cancer Society, nearly 299,010 new prostate cancer cases are expected to be diagnosed in the region in 2024. Moreover, the rising regulatory approvals for cancer treatment technologies, alongside the growing elderly population prone to chronic diseases will drive robust demand for targeted therapy for bone metastases, influencing regional market dynamics in the coming years.
Metastatic Bone Disease Treatment Market Share
Some of the prominent metastatic bone disease treatment industry players include:
- Fresenius Kabi
- Novartis
- Boston Scientific Corporation
- F. Hoffmann-La Roche
- Bayer
- Medtronic
- Eli Lilly and Company
- Merck
- C. R. Bard (BD)
These companies are strategically focusing on expanding their product portfolio, forming collaborations, and making acquisitions to strengthen their position in the global market.
Metastatic Bone Disease Treatment Industry News
- In March 2023, AstraZeneca and Merck announced that the U.S. FDA and ODAC would work together to bring Lynparza, a drug to be used for the treatment of adult patients suffering from metastatic castration-resistant prostate cancer.