New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Solid Tumor Cancer Treatment Global Market Report 2023" - https://www.reportlinker.com/p06466433/?utm_source=GNW
Inc., Novartis AG, Pfizer Inc., Olympus Medical Systems, Astellas Pharma Inc., Celgene Corporation, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Ltd., and Celldex Therapeutics Inc.
The global solid tumor cancer treatment market is expected to grow from $174.11 billion in 2022 to $200.53 billion in 2023 at a compound annual growth rate (CAGR) of 15.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The solid tumor cancer treatment market is expected to reach $337.47 billion in 2027 at a CAGR of 13.9%.
The solid tumor cancer treatment market includes revenues earned by entities by treating solid tumor cancer through hormonal therapy, targeted drugs, and immunotherapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Solid tumor cancer treatment refers to a treatment of an aberrant mass of tissue that does not generally contain cysts or liquid regions.Solid tumours include cancers of the brain, ovary, breast, colon, and other organs.
The majority of the tumour’s cells are created by cancer stem cells through division.
North America was the largest region in the solid tumor cancer treatment market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of treatment for solid tumor cancer are chemotherapy, targeted therapy, immunotherapy, hormone therapy, and surgical procedures.Chemotherapy refers to a therapy that uses drugs to stop the division or kill cancer cells in order to stop their proliferation.
They are used for several applications, including breast cancer, cervical cancer, colorectal cancer, lung cancer, prostate cancer, and others, and are used by various end-users, such as hospitals, research institutes, and homecare.
The increasing incidence of cancer significantly contributes to the growth of the solid tumor cancer treatment market going forward.Cancer is a severe disorder in which the body’s cells reproduce fast and uncontrollably, resulting in abnormal growth.
Solid tumor cancer treatment refers to a treatment that is used to remove the solid tumor from the body of patients who have cancer. For instance, in September 2020, according to the report released by the National Cancer Institute, a US-based government agency, a projected 1,806,590 new cancer cases were identified in the US, while 606,520 people passed away from the illness. 1,730 cancer-related deaths and 16,850 new cancer diagnoses among kids and teenagers aged 0 to 19 are projected for 2020. By 2040, it’s anticipated that there will be 29.5 million new instances of cancer each year, and 16.4 million people will die from cancer. Further, according to a report by the American Cancer Society, the estimated number of new cancer Cases in 2021 was 1,898,160, which increased to 1,918,030 in 2022. Therefore, an increasing incidence of cancer is driving the growth of the solid tumor cancer treatment market.
Product innovations have emerged as a key trend gaining popularity in the solid tumor cancer treatment market.Major companies operating in the solid tumor cancer treatment market are focusing on innovating new products and treatments to sustain their position in the market.
For instance, in March 2022, Shanghai Henlius Biotech, a China-based biopharmaceutical company, launched the PD-1 inhibitor HANSIZHUANG, its first innovative monoclonal antibody.It was developed for the treatment of adults with advanced, unresectable or metastatic MSI-H (microsatellite instability—high) solid tumors that have not responded to prior conventional treatments.
The approval of HANSIZHUANG gives patients with MSI-H solid tumors fresh hope and better matches the demand for clinical treatment and tumor medicine. It also fosters the high-quality development of China’s biopharmaceutical industry and empowers domestic precision immunotherapy for cancer.
In March 2021, Takeda Pharmaceutical Company, a Japan-based multinational pharmaceutical company, acquired Maverick Therapeutics for $525 million.The acquisition provides Takeda access to Maverick’s T-cell engager COBRA platform and a diverse development portfolio, including TAK-186 (MVC-101) and TAK-280, the latter’s main development candidate (MVC-280).
With this acquisition, Takeda would be able to expand its novel immuno-oncology portfolio to advance its redirected immunotherapies against solid tumors. Maverick Therapeutics Inc. is a US-based biotechnology company that provides T-cell targeted immunotherapies for solid tumor cancers.
The countries covered in the solid tumor cancer treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The solid tumor cancer treatment market research report is one of a series of new reports that provides solid tumor cancer treatment market statistics, including solid tumor cancer treatment industry global market size, regional shares, competitors with a solid tumor cancer treatment market share, detailed solid tumor cancer treatment market segments, market trends and opportunities, and any further data you may need to thrive in the solid tumor cancer treatment industry. This solid tumor cancer treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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