BONE CANCER DRUGS MARKET ANALYSIS

Bone Cancer Drugs MarketSize and Trends

Global bone cancer drugs market is estimated to be valued at US$  1,286.4 Mn in 2023, and is expected to exhibit a CAGR of 5.2% during the forecast period (2023-2030).

Global Bone Cancer Drugs Market– Drivers

• Increasing prevalence of bone cancer: Increasing prevalence of bone cancer is expected to drive growth of the global bone cancer drugs market over the forecast period. For instance, in 2021, according to The American Society of Clinical Oncology, there were 3,610 new cases of bone cancer in the U.S. and 2,060 deaths due to bone cancer. According to the same source, primary bone malignancies, or tumors that begin in the bones are rare, and this accounts for less than 1% of all cancers. Adults are significantly more likely to get malignancies that originate in other organs but then spread to the bones. The most typical primary bone cancer is osteosarcoma, which is followed by chondrosarcoma and Ewing sarcomas.
• Increasing funding and investments by market players: Increasing funding and investments by key market players is expected to drive  the global bone cancer drugs market growth over the forecast period. For instance, in June 2022, Radius Health, Inc., a biopharmaceutical company, announced that it had agreed to privatization of the company under the term an acquisition worth up to US$ 890 million and a deal to merge with a subsidiary of two investment firms. Gurnet Point Capital and Patient Square Capital will pay US$ 10 per Radius share plus an additional US$ 1 per share if sales of Radius' lead drug, an osteoporosis drug sold as Tymlos, meet a certain threshold by 2025 to reach. Hence, this is expected to fuel the gloal bone cancer drugs market growth over the forecast period.

Figure 2. Global Bone Cancer Drugs Market Share(%), By Region, 2023