Global Solid Tumor Market Propelled by Rising Number of Solid Tumor Cases23 Feb 2016
Transparency Market Research has added a research report to its vast database on the pharmaceutical industry. The report, titled “Solid Tumor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” links the current and recent developments that have occurred in this market to the expected trends and influences.
The primary driver for the global solid tumor market is the increasing prevalence of cancer across the world. An increasing number of cases of solid tumors are being reported, along with a rising prevalence of metastatic cancer in all its different forms.
Other factors promoting the growth of the global solid tumor market are the high number of pipeline drugs that are currently waiting to be released into the market and the high demand for increasingly efficient chemotherapy-related agents.
As reported by the WHO, nearly 8.2 mn people died of various forms of cancer in 2012. The leading types of cancers to have caused these deaths are breast, colorectal, and lung cancers. Other cancers that commonly possess solid tumors are found in the brain, namely, brain cancers such as glioma and medullablastoma, along with neuroblastoma. Osteosarcoma and rhabdomyosarcoma are significantly less common types of solid tumors.
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The five major segments of the global solid tumor market according to the type of cancer are pancreatic cancer, ovarian cancer, bladder cancer, prostate cancer, and others.
Major drugs already present in the global solid tumor market include Avastin, Sutent, Jevtana, Afinitor, Taxotere, Zytiga, and Tarceva. Pipeline drugs in the market that are showing the most promising development rates include Xtandi, Votrient, AMG 386, and Abraxane.
North America dominated the global solid tumor market in 2014. The second largest region in the market was Europe. The growth of both these regions in the global solid tumor market can be attributed to the presence of highly advanced healthcare infrastructure, a high rate of diagnosis of solid tumors, and a steadily growing population. Both regions are also expected to grow faster in this market, owing to an increasing geriatric population.
On the other hand, the Asia Pacific solid tumor market is exhibiting the fastest CAGR, owing to major advancements in the healthcare infrastructure in the region and the growing trend of medical tourism. Asia Pacific also holds a high population density showing an increased diagnosis rate of cancers, promoted by increasing expenditure in healthcare and growing awareness levels.
Key players in the global solid tumor market are Kyowa Hakko Kirin Co., Ltd., GlaxoSmithKline plc, Johnson & Johnson, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Baxter International, Inc., Boehringer Ingelheim GmbH, Biogen Idec, Inc., Amgen, Inc., Abbott Laboratories, Inc., AstraZeneca plc, and Sanofi.
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