Solid Tumors Treatment Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
A solid tumor is an abnormal mass or lump of tissues without liquid or cysts. It is not necessary that tumor should always be cancerous. On the basis tumor nature, it can be classified as the malignant tumor (cancerous) and the benign tumor (non-cancerous). Based on the cell type, tumors can be classified as carcinomas, sarcomas, and lymphomas. The Solid tumors might occur in several places such as muscle, bone, and organs. Treatments for solid tumors include prevention of tumor and combination of surgery, chemotherapy, and radiation therapy. However, new forms of treatment are emerging in the market.
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Emerging trend of Biosimilars therapy is expected to propel the growth of solid tumors treatment market
According to data published in International Journal of Pharma Sciences and Research (IJPSR) in 2011, there were around 9 million deaths due to cancer. In 2015, 11.4 million people are expected to die in 2030, among this prevalence of cancer maximum is due to solid tumors. Growing prevalence of solid tumors is the major driving factor for the growth of solid tumors treatment market. Additionally, some other factors fuelling the growth of solid tumors treatment market include unmet demand for cancer treatment and rising investment in the research and development of cancer drugs. However, increase in the volume of generic therapeutic products, the high cost of cancer therapy, and growing drug patent cliff are some of the restraints that might hinder the growth of solid tumors treatment market.
Moreover, the emerging trend of biosimilars is contributing to the growth of solid tumors treatment market due to their low cost and their similarity to originator compound. For instance, some of the biologics available for solid tumors treatment includes Herceptin, MabThera, Avastin, and Erbitux. The advantages of this biosimilars to overcome the limitations of generic drugs in the treatments is expected to propel the growth of solid tumors treatments market.
Rising incidences of solid tumor cases in North America is the factor contributing to the growth of solid tumor treatment market
Regional segmentation of Solid Tumors Treatment market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Africa, and the Middle East. North America dominates in the solid tumors treatment market due to the presence of well-established healthcare infrastructure, and rise in the number of solid tumor cases. For instance, According to the data provided by Centers for Disease Control and Prevention (CDC) in 2013 around 230,815 females and 2109 men in the U.S. were diagnosed with breast cancer. Asia Pacific is expected to grow in the solid tumors market due to the increase in healthcare expenditure, rising patient population, medical tourism, and increasing affordability of people in this region.
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Advanced drug therapy is expected to help the industry players to sustain in the solid tumors treatment market
Key industry players operating solid tumors treatment market include Abbott Laboratories Inc., Biogen Idec Incorporated, AstraZeneca Plc., Johnson & Johnson Company, Amgen Inc., Bristol Myers Squibb Company, GlaxoSmithKline Plc., Sanofi, and Baxter International Incorporated. Advancements in the cancer therapy such as nanomedicines used for the treatment of cancer might help the industry players to provide effective patient care in the solid tumors treatment. Whereas, stringent regulatory policies for drug manufacturing may restrain the growth of the market. For instance, by regulations provided by the Indian government in late 2012, there are cap prices of 348 drugs on Essential Drug List (EDL), and drug manufacturers need to keep the cost of their drugs below the ceiling price.
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