The global metastatic cancer treatment market is projected to attain a market valuation of USD 111.16 Billion by 2027, expanding steadily at a CAGR of 7.3% through the forecast timeframe, according to a recent report by Emergen Research. The market is witnessing an escalating demand owing to rising incidences of cancers across the world. The debilitating disease significantly impacts the social and economic growth of the industry and accounts for the major burden on healthcare expenditure. It has been estimated that nearly 1,806,590 new cancer cases would be registered in the United States by 2020.
Escalating technological advancements and rising financial support for advancements in imaging technologies are significant factors contributing to the growth of the industry in the forecast timeframe. Additionally, factors such as increasing initiatives to conduct cancer awareness programs, expanding healthcare budget, augmenting geriatric population across the globe, and rising occurrences of metastatic cancer are adding traction to the market growth. The geriatric population are more susceptible to the disease and its recurrence and are majorly driving the demand for metastatic cancer treatment.
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Availability of effective treatments such as chemotherapy, hormone therapies, surgery, radiation therapy, and ablation therapy for stage IV cancer, also known as metastatic cancer, is also adding to the market growth. However, the high costs of treatments associated with the management of metastatic cancers are projected to impede the industry growth over the coming years.
Key Highlights from the Report:
- Lung cancer is the second most prevalent cancer in the male population and third leading cancer in women. Countries such as Serbia, New Caledonia, and Hungary accounted for the top three countries with the highest prevalence rate of cancer in 2018.
- Hospitals accounted for the largest share of the industry in 2019 and are expected to retain its leading position in the forthcoming years. The factors influencing the development of the segment are well-resourced operating & surgical rooms, availability of highly skilled professionals, and improved healthcare coverage.
- Specialty clinics are equipped with advanced radiotherapy machinery and skilled staff to manage the diagnosis of the disease and formulating an effective procedure for treatment of metastatic cancer.
- North America occupied the largest share of the industry in 2019 and is predicted to command market growth over the projected timeframe owing to the escalating adoption of cutting treatment technologies, growing prevalence of cancer, presence of state-of-the-art healthcare infrastructure, and increasing efforts taken by the government to raise awareness about cancer.
- Prominent firms operating in the industry are Johnson & Johnson, Bayer AG, Bristol Myers Squibb Company, AstraZeneca PLC, F. Hoffmann-La Roche AG, Pfizer Inc., Amgen Inc., Novartis AG, Merck & Co. Inc., and AbbVie Inc., among others.
- In 2019, Hologic, Inc. received U.S. FDA’s approval for the company’s 3DQuorum™ Imaging Technology. The technology works in association with Hologic’s Clarity HD™ high-resolution imaging solution that assists the radiologists to reduce the tomosynthesis image volume by 66%.
- Bayer, in 2020, signed a global license contract with Systems Oncology, LLC, for ERSO™ to be used in the pre-clinical developmental stage for ER-positive metastatic breast cancer.
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For the purpose of this report, Emergen Research has segmented the Global Metastatic Cancer Treatment Market on the basis of treatment type, application, end-user, and region:
Treatment Type Outlook (Revenue, USD Billion; 2017-2027)
- Hormone Therapy
Application Outlook (Revenue, USD Billion; 2017-2027)
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutes
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Insights into our Other Published Healthcare Reports:
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Patient Registry Software Market By Delivery, By Database, By Registry Type, By Function, By Software Type (Integrated, Standalone), By End-use (Government & Third-Party Administrators, Pharmaceutical Companies, Hospitals, Research Centers, Others), and By Region, Forecast to 2027
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Ambulatory EHR Market By Deployment (Cloud-based, On-premises), By Practice Size (Solo Practices, Large Practices, Small-medium-sized Practices), By Application, By End-use (Independent Centers, Hospital-owned Ambulatory Centers, Others), and By Region, Forecasts to 2027
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