Global Soft tissue sarcoma (STS) Market is projected to reach US$ 6,465.70 by 2030 from 3,595.41 Mn in 2022, growing at a CAGR of 7.4% during the forecast period.
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A rare and complex group of cancers known as soft-tissue sarcomas arise in the connective tissues of animal cells. With a higher incidence in the hands and legs, the tumors are frequently discovered in connective tissues such as nerves, tendons, muscles, blood vessels, and fibrous tissues.
Depending on the type of tumor, STS symptoms, and indicators might vary greatly. Nonetheless, a person with STS may notice a gradually expanding, painless lump in the affected location. The market is likely to develop due to the rising rate of soft tissue sarcoma diagnoses. The American Society of Clinical Oncology (ASCO) predicts that 13,130 Americans will receive an STS diagnosis in the US in 2020.
Factors Influencing the Market Growth
Market Driver
Emerging Novel Therapies
The majority of market participants for soft tissue sarcoma are working to create cutting-edge medications and therapies for the treatment of advanced cases of the disease. As a result, the market sees a healthy pipeline from both established companies and new ones. Better therapy is made possible by this clinical research, which also lays the groundwork for market expansion.
Moreover, adequate reimbursement practices are a crucial factor in the STS market’s expansion. Yondelis and Halaven, for example, are covered by insurance. Yondelis, for instance, has a permanent, medication-specific HCPCS code of J9352 and was added to the National Health Insurance (NHI) reimbursement price list in Japan in 2015 with a reimbursement price of roughly USD 459.73 for 0.25mg and USD 1843.31 for 1mg of the drug. The rising purchasing power results in able to pay for out-of-pocket charges.
Rising Incidence of Soft Tissue Sarcoma
The American Cancer Society predicts that there will be around 13,400 new cases of soft tissue sarcoma in 2023, with 7,400 occurring in men and 6,000 in women. Also, 5,000 people will likely pass away in the same year owing to soft tissue sarcomas. The increasing prevalence of the condition is linked to the expanding patient base, which ultimately raises the need for associated therapies and creates a foundation for market expansion.
Generally, soft tissue sarcomas are fatal due to delayed diagnosis and advanced stages of the disease. Localized sarcomas account for 60% of sarcoma cases, locally progressed sarcomas account for 18%, and metastatic sarcomas account for 15% of cases.
Market Restraint
High Cost of Treatment and Adverse Events
The high cost of STS therapies due to the cost of research and development, the cost of creating equipment, the cost of radiation therapy and surgery, and the cost of insurance are the main hurdles in the market. For instance, the third and second lines of treatment for STS will cost over USD 20,000 and USD 10,000, respectively. This might prevent people from using medicines that are already on the market, which would prevent the market from expanding in the future.
Moreover, few of the commercial medications demonstrate side outcomes in STS treatment. For instance, Eli Lilly announced in 2019 that Lartruvo harms a fetus when taken by a pregnant woman, and the company pulled the medication off the market as a result. As a result, patients are less likely to choose treatment, which hinders the market’s expansion.
Targeted Therapies to Account for the Highest Share
In the market for treating soft tissue sarcomas, targeted therapy is gaining momentum because it provides a more individualized and efficient course of action than conventional chemotherapy. Using medications that specifically target the chemical or genetic changes fueling the growth and spread of cancer cells is known as targeted therapy.
Many targeted medicines for soft tissue sarcoma have received regulatory agency approval, including from the US Food and Drug Administration and the European Medicines Agency (EMA). For instance, trabectedin, a targeted medication, has been licensed for the treatment of liposarcoma and leiomyosarcoma. It works by interfering with DNA repair pathways in cancer cells. Imatinib, a targeted medication that blocks the activity of the protein that fuels gastrointestinal stromal tumors (GISTs), a subtype of soft tissue sarcoma, is another illustration.
Since they have been proven to be successful in clinical trials, targeted therapies are gaining popularity. Some studies have even shown improvements in patient quality of life and survival rates. In comparison to conventional chemotherapy, which can harm both healthy and malignant cells, they also carry a decreased risk of side effects.
Targeted therapy does present some difficulties, though. Drug resistance, in which cancer cells build defenses against a drug’s effects, is a significant problem. This may result in the disease progressing and therapy failure. The high price of targeted medicines presents another difficulty and may restrict access for some individuals.
Despite these obstacles, targeted therapy will keep expanding in the soft tissue sarcoma market as additional medications are created and licensed and as researchers look for strategies to combat resistance and enhance treatment outcomes.
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Regional Overview
North America dominated the soft tissue sarcomas industry, which generates a sizeable portion of its income. The high incidence of soft tissue sarcoma, the availability of cutting-edge healthcare infrastructure, benevolent reimbursement policies, and the existence of significant market participants are elements that contribute to the region’s growth.
Each year, the American Cancer Society estimates that 13,000 new instances of soft tissue sarcoma are discovered in the US. The aging population and changes in lifestyle are the main causes of the disease’s increased incidence. Also, the availability of cutting-edge diagnostic tools like MRI and CT scans has helped North Americans detect soft tissue sarcoma early on.
Another significant element fueling the expansion of the soft tissue sarcoma market in North America is the area’s state-of-the-art healthcare infrastructure. The demand for cutting-edge soft tissue sarcoma therapies has increased with the accessibility of modern healthcare facilities like well-equipped hospitals and cancer treatment centers. The favorable cancer treatment reimbursement rules in the area have also significantly contributed to market expansion.
Furthermore, the development of cutting-edge therapies for soft tissue sarcoma has been facilitated by the existence of significant market participants in North America, including Pfizer Inc., Eli Lilly and Company, and Johnson & Johnson. In order to create novel and efficient therapies for soft tissue sarcoma, these businesses continually spend on research and development projects.
Although having a sizable market share, North America’s market growth is predicted to slow down because of market saturation and the availability of alternative treatment choices. Nevertheless, the region is likely to keep holding the top spot in the worldwide soft tissue sarcoma market due to its well-established healthcare system and technological developments.
Leading Competitors
Some of the reputed competitors in the global soft tissue sarcoma market are:
- Novartis
- Eisai
- Eli Lilly
- Pharma Mar
- Bayer
- Bayer/Loxo Oncology
- GlaxoSmithKline
- Pfizer
- Roche
- Hospira
- Other Prominent Players
Segmentation Outline
The global soft tissue sarcoma market segmentation focuses on Therapy and Country.
- By Therapy
- Halaven
- Gleevec
- Vitrakvi
- Lartruvo
- Stivarga
- Yondelis
- Sutent
- Votrient
- Rozlytrek
- Gemicitidien
- Others
- By Country
- The US
- Germany
- France
- Italy
- Spain
- The UK
- Japan
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