Global Bone Cancer Drugs Market, By Drug Type ( Antimetabolites, Anthracyclines, Antibiotics, and Others (RANK ligand inhibitors, etc.)), By Disease Indication (Multiple Myeloma, Osteosarcoma, Chondrosarcoma, and Ewing’s Sarcoma), By Distribution Channel, Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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) as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as merger and acquisition, and this is expected to drive the global bone cacner drugs market growth. For instance, in August 2022, Ipsen Pharma, a global biopharmaceutical company, announced the completion of the definitive merger agreement. Through this agreement,Ipsen acquired Epizyme, Inc. (Epizyme)., a clinical stage biopharmaceutical company. Under this transaction, Ipsen will acquire all outstanding shares of Epizyme for US$ 1.45 per share plus a US$ 1.00 per share contingent value right (CVR). At the time of completion, Epizyme now operates as "one Ipsen entity". Ipsen is also acquiring Epizyme's lead oral SETD2 inhibitor development candidate, EZM0414, which received FDA Fast Track Designation in 2021 and is currently being evaluated in a recently initiated Phase I/Ib study in adult patients with relapsed or refractory multiple myeloma
Global Bone Cancer Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
The severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection, which initially surfaced in Wuhan (province of Hubei, China), in the final months of 2019, has been dubbed "coronavirus disease 2019" or COVID-19 by the World Health Organization (WHO). The economies, social norms, and healthcare systems of every nation on the planet were severely harmed by this virus' rapid spread and devastating effects.
There were three main ways that COVID-19 influenced the economy: by directly by impacting supply and demand, indirectly by disrupting distribution networks, and economically by having an effect on businesses and financial markets. Due to the shutdown, various nations including Brazil, China, India, and others experienced issues with the transit of goods from one location to another.
COVID-19 had a mixed impact on the global bone cancer drugs market. COVID-19 pandemic has prompted a rapid restructuring of healthcare activities, resulting in limited access to clinics, disruptions in early detection, and changes in treatment plan for various types of cancer. In the first year of the COVID-19 pandemic, a delay in sarcoma diagnosis but not in initiation of treatment was observed.
Global Bone Cancer Drugs Market: Key Developments
On June 06, 2023, St. Baldrick's Foundation, a non profit organization and their five funding partners announced its support to a new grant - The Fight Osteosarcoma Together (FOT) Super Grant, in order to achieve a significant effect for children fighting osteosarcoma.
On April 13, 2023, The American Cancer Society (ACS), the largest nongovernmental, nonprofit cancer research funding source in theU.S., approved funding for 90 new Extramural Discovery Science (EDS) research and career development grants totaling more than US$ 45 million. In 2023, the grants will support researchers at 67 institutions across theU.S.
In June 2022, The Centers for Disease Control and Prevention (CDC) announced first-year funding of US$ 215 million, as part of a five-year US$ 1.1 billion investment in three national cancer prevention and control programs.
In December 2021, Zetagen, a clinical stage pharmaceutical company, announced that it had received a two-year, US$ 2 million grant from the National Cancer Institute of the National Institutes of Health (NIH). The grant will be used for Phase 2 clinical and commercial development of its ZetaMet technology
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Bone Cancer Drugs Market”- Forecast to 2030, Global bone cancer drugs market, By By Drug Type (Antimetabolites, Anthracyclines, Antibiotics, and Others (RANK ligand inhibitors, etc.)), By Disease Indication (Multiple Myeloma, Osteosarcoma, Chondrosarcoma and Ewing’s Sarcoma), By Distribution Channel, Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/bone-cancer-treatment-market-93
Key Takeaways of the Global Bone Cancer Drugs Market:
- Global bone cancer drugs market is expected to exhibit a CAGR of 5.2% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global bone cancer drugs market.
- Among disease indication, the multiple myeloma segment is expected to hold a dominant position in the global bone cancer drugs market during the forecast period due to increasing prevalence of disease such as multiple myeloma. For instance, according to article published by American Cancer Society in January 2023, multiple myeloma is a relatively rare cancer. In the U.S., the lifetime risk of developing multiple myeloma is 1 in 132 (0.76%). The American Cancer Society estimated thatin the U.S.for 2023, about 35,730 new cases will be diagnosed (19,860 in men and 15,870 in women) for multiple myeloma
- Among region, North America is expected to be the dominant region in the global bone cancer drugs market, owing to increasing merger and acquisition by key market players in the region. For instance, in November 2022, Merck & CO., a science and technology company, and Imago BioSciences, Inc., a clinical stage company, entered into a definitive agreement under which Merck & Co., through a subsidiary, will acquire Imago for US$ 36.00 per share in cash for an aggregate net asset value of approximately US$ 1.35 billion.
- Major players operating in the global bone cancer drugs market are Advaxis, Inc., Cellectar Biosciences, Inc., OPKO Health, Inc., Pfizer Inc., Amgen Inc., Novartis AG, Eli Lilly and Company, Debiopharm Group, Merck & Co., Bayer AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical, F. Hoffmann-La Roche Ltd, and Teva Pharmaceutical
