According to the current analysis by Emergen Research, the global metastatic cancer treatment market size is forecast to exceed USD 111.16 Billion in terms of revenue, from USD 63.03 Billion in 2019, delivering a CAGR of 7.3% through 2027. The market growth is driven by rising incidences of metastatic cancer globally.
Metastatic cancer immensely impacts social and economic growth of countries worldwide and is a major contributor to global disease burden. In 2018, the global cancer burden had risen to 9.6 million deaths and 18.1 million new cases.
Hologic, Inc., a medical technology company received approval for its Imaging Technology 3DQuorum™, driven by Genius AI™, from the U.S. Food and Drug Administration in November 2019. With technological advancements, breast imaging would produce higher-resolution 3D images, and offer improved mammography experience for patents. The global metastatic cancer treatment industry is expected to showcase considerable growth on account of rise in technological advancements and increased investments in imaging technologies.
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Key Highlights From Report
- Based on application, the lung cancer sub-segment is expected to showcase a notably high growth rate on account of growing disease prevalence across the globe. In 2018, nearly 2 million new cancer cases were registered across the globe. Lung cancer is the most a common type of cancer occurring in men and women. France, Hungary, and Serbia, were the three countries with the highest lung cancer occurrence rate in 2018.
- Based on end-use, the specialty clinics sub-segment is forecast to contribute significantly to the metastatic cancer treatment market revenue share in the coming years. Specialty clinics are equipped with the requisite radiotherapy instrument, devices and also trained staff to assist in suitable treatment for metastatic cancer after diagnosis.
- In the regional landscape, North America accounted for the largest share of the metastatic cancer treatment market in 2019 and is expected to gain major traction through 2027 on account of rising incidence of cancer, major adoption of advanced treatment technologies, favourable government initiatives to create awareness regarding the disease, and presence of an established healthcare infrastructure in the region.
- Key players operating in the global metastatic cancer treatment market include Johnson & Johnson, Bayer AG, AstraZeneca PLC, Bristol Myers Squibb Company, Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Amgen Inc., Novartis AG, and AbbVie Inc., among others.
- In September 2020, Bayer, the Germany-based Pharmaceutical and Life Sciences Company signed a worldwide license contract with for ERSO™ with Systems Oncology, LLC. ESRO is being used in the pre-clinical development phase for metastatic breast cancer.
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
- Prostate Cancer
- Colorectal Cancer
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Clinics
- Research Institutes
- 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
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/metastatic-cancer-treatment-market