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Osteosarcoma is the most common form of bone cancer which commonly affects children, adolescents, and young adults. In rare cases, it may occur in soft tissue outside the bone. According to the American Society of Clinical Oncology, in children aged between 0-14, osteosarcoma makes up 2% of all cancers and in teens aged 15-19, it accounts for 3% of all cancers. On the other hand, 1 in 10 osteosarcomas occur in individuals aged over 60.
The key factors driving the market growth include increasing incidence of osteosarcoma across the globe, robust pipeline, rising number of new product launches, increasing demand for chemotherapy, and supportive regulatory bodies.
The recent outbreak of the SARS-CoV-2 virus had a slightly negative impact on the global osteosarcoma drugs market. This is majorly due to the enhanced community quarantine, delay in diagnosis, and temporary pause of elective healthcare in medical facilities resulting in delays in or rescheduling of planned diagnostic and therapeutic processes, and outpatient visits. The pandemic resulted in a decrease in the number of biopsies but it did not significantly impact the therapeutic process itself.
The report will cover the following key insights:
The targeted therapy segment is anticipated to witness a significant growth rate over the forecast period. Increasing research and development activities and the benefits of targeted therapy over chemotherapy are anticipated to supplement the segment growth.
Such increasing involvement of the research community in developing new targeted therapy is expected to drive the growth of the segment. Moreover, the increasing involvement of key players in the development of targeted therapy drugs also supplements segment growth.
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North America is expected to dominate the global osteosarcoma drugs market with a significant share in 2022. The major factors driving the regional market growth include the presence of well-established drug manufacturers, a high number of clinical trials for osteosarcoma, and the increasing prevalence of the disease in the U.S. For instance, according to the American Cancer Society, around 1,000 new cases of osteosarcoma are diagnosed every year in the U.S.
Moreover, increasing R&D spending and several initiatives undertaken by key players & research institutes also boosted the market growth. For instance, in 2022 the Osteosarcoma Institute (OSI) has invested a total of USD 1 million in two research projects related to osteosarcoma. Since 2017, the institute has invested more than USD 5 million in osteosarcoma research.
The report will include profiles of key players such as Pfizer Inc., Mylan N.V., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals, Inc., Teva Pharmaceuticals Industries Ltd., Novartis AG, Bristol-Myers Squibb Company, and Bayer AG.
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