Bone Metastasis Market
The increasing prevalence of breast cancer, growing geriatric population, rising healthcare expenditures, and increasing R&D expenses by the key players are estimated to drive the market growth during the forecast period.
The Bone Metastasis Market is expected to reach USD 17.34 Billion by 2030 at 9.30% CAGR during the forecast period 2022-2030.
Bone Metastasis Market Trends and Analysis, by Type, Diagnosis, End User – Forecast Till 2030
Bone metastasis is a condition that occurs when cancerous cells from a non-bone site travel, i.e. metastasize, to bones. The spine, particularly the lower spine, the pelvis, and the thighs, are the most common sites for bone metastases. Bone metastasis can cause urinary and bowel incontinence, due to it being located quite close to both the urinary bladder and the rectal column, as well as hypercalcemia. While all cancers can manifest in this way, breast and prostate cancers are the likeliest sources of bone metastasis – 65-75% of patients suffering from breast or prostate cancers experience bone metastasis. The bone metastasis is not often targeted as a separate physiological condition, with the treatment of the original cancer remaining the top priority despite the metastasis. The pain resulting from bone metastases can, however, be combated with pain medication such as narcotics.
The rising geriatric population and the increasing prevalence of breast and prostate cancers is likely to be the major driver for the global bone metastasis market over the forecast period. The growing cultural awareness about breast and prostate cancer, thanks to the two being gender-exclusive diseases that can be marketed as such, is likely to remain a major driver for the global bone metastasis market, as breast and prostate cancers are among the most researched types of cancer in the world. The increasing healthcare expenditure, especially in developing economies, and high amount of efforts in R&D are also likely to drive the bone metastasis market over the forecast period.
On the other hand, the high costs of bone metastasis treatments and the lack of advanced healthcare facilities in emerging regions are likely to restrain the growth of the bone metastasis market in the coming years. The side effects related to bone metastasis treatment could also hamper the global bone metastasis market’s growth over the forecast period.
Major Key Players:
The Key Market Players are F. Hoffmann-La Roche Ltd (Switzerland)
Bayer AG (Germany), Merck & Co., Inc. (U.S.), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Pharmalucence Inc. (England), Koninklijke Philips N.V. (the Netherlands), GENERAL ELECTRIC (U.S.), Siemens AG (Germany), TOSHIBA CORPORATION (Japan), and others.
The global bone metastasis market report is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of type, the market is segmented into osteolytic bone metastasis, osteoblastic bone metastasis, mixed bone metastasis, and others. On the basis of diagnosis, the market is categorized into biopsy, blood test, imaging, and others. The imaging segment is sub-segmented into X-ray, bone scintigraphy, computerized tomography, magnetic resonance imaging, positron emission tomography, and others. On the basis of treatment, the market is segmented into medical therapies, surgery, medication, and others. The medical therapies segment is sub-segmented into chemotherapy, targeted therapy, hormone therapy, ablation therapy, and others. The surgery segment is sub-segmented into vertebroplasty, kyphoplasty, and others. The medication segment is sub-segmented into pain medications, bone building medications, and others. On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic centers, pharmacies, and ambulatory surgical centers.
The Americas is the leading contributor to the global bone metastasis market due to the high healthcare expenditure in developed countries such as Canada and the U.S. and the presence of an advanced healthcare sector that can handle complications related to cancer with relative ease. In the U.S., more than 300,000 new cases of invasive and non-invasive breast cancer are expected to be registered in 2018, while about 1 in 9 men is expected to be diagnosed with prostate cancer over their lifetime. This is likely to drive the demand from the bone metastasis market over the forecast period.
Europe is expected to remain the second largest regional segment of the bone metastasis market due to the consistent technological advancement in the healthcare sector and the increasing willingness of patients to spend more on effective cancer treatment.
Asia Pacific is likely to exhibit the highest growth in the global bone metastasis market over the forecast period due to the growing prevalence of cancer, whereas the Middle East and Africa market is likely to be dominated by the Middle East due to the lack of advanced healthcare facilities in most African countries.
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