Osteosarcoma is a malignant tumor of bone in which there is a proliferation of osteoblasts. It is one the common type of cancer leading to the production of immature bones. The tumor is the mostly occurs in children and teens. It is more dominant in males than females. Intramedullary osteosarcoma, juxtacortical osteosarcoma, and extraskeletal osteosarcoma are three types of osteosarcomas, amongst which intramedullary osteosarcoma is the most prevalent.
As per studies conducted by American Cancer Society, cases of osteosarcoma accounts for about 2% of childhood cancers, and make up a much smaller percentage of adult cancers.
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Rising prevalence of osteosarcoma among children, increasing demand for new treatment of rare cancers such as osteosarcoma are key the drivers for the growth of the osteosarcoma market across the globe. Furthermore, rising awareness accelerate the development of the market. concentration of key players in developed countries are now engaged in innovative product development and research for offering products and services also boost the growth of the market.
Moreover, as per cancer research U.K, bone sarcoma rates increased by 22% in the last decade which is likely to impact positively on the growth of the market.
However, high cost of current treatment methods, and unavailability of alternative methods for treatment of osteosarcoma may slow the market growth during the forecast period.
According to the Agency for Healthcare Research and Quality (U.S.), patients with osteosarcoma typically hospitalized for about a week at a cost of USD 19,600 total, or USD 2,800 per day. This cost may increase in developing economies, which may result in low market growth.
The global osteosarcoma market is expected to grow at a CAGR of 6.40% during the forecast period 2017-2023.
The global osteosarcoma market is segmented on the basis of types, diagnosis, treatment, and end user.
On the basis of the types, it is further segmented into intramedullary osteosarcoma, juxtacortical osteosarcoma, and extra-skeletal osteosarcoma.
On the basis of the diagnosis, the market is segmented into biopsy, X-ray, MRI, CT Scan, bone scan, and others.
On the basis of the treatment, the market is segmented into chemotherapy, surgery, radiation therapy, and others.
On the basis of the end user, the market is segmented into hospitals & clinics, cancer research centers, and others.
The Americas dominates the global osteosarcoma market owing to the increasing prevalence of bone cancer, and increasing demand for technologically advanced devices for diagnosis and treatment of rare diseases. Additionally, availability of specialty healthcare diagnosis and treatment facilities, and strengthened healthcare system also influence the market growth. Key players in the market are focused on research and development activities for cancer.
Europe is the second largest osteosarcoma market. The growth of the osteosarcoma market is attributed to the availability of funds for R&D in the field of oncology. In Europe, Germany is the largest market, While, France and U.K are the second and third largest markets in the Europe. The growth of the market in Germany is attributed to rising awareness about use of medical devices for diagnosis of bone cancer, and increasing focus on R&D activities. Moreover, flourishing growth of the medical device industry and emphasis on product differentiation also influence the growth of the market.
Asia Pacific is expected to be the fastest growing osteosarcoma market owing to more number of developing nations in this region. For instance, countries like India and china are encouraging healthcare sector, which will boost the market growth. Increasing patient population in developing countries is directly increasing the demand for treatment methods resulting in growth of the market. There are over 100 types of cancer, which have affected human. According to a survey carried out by Pfizer, in 2012, 6.7 million of cancer cases were registered in Asia Pacific region, which is likely to increase continuously. Additionally, according to the American Cancer Society, in 2015, 4.2 newly diagnosed invasive cancer cases were registered in China.
The Middle East & Africa is expected to account for the least market share due to less availability of medical facilities and less development in the healthcare domain. However, countries like Qatar, Kuwait are focusing more on the healthcare domain and increasing medical facilities, which may boost the market growth in this region.
On the basis of type, intramedullary osteosarcoma is the fastest growing market and is expected to reach USD 62.19 million by 2023 from USD 36.34 million in 2016 at a CAGR of 6.81% during the forecast period of 2017-2023.
On the basis of diagnosis, biopsy is the fastest growing market, which is expected to reach USD 45.86 million by 2023 from USD 26.90 million in 2016, at a CAGR of 6.76% during the forecast period of 2017-2023.
On the basis of application, synthetic biology is the fastest growing market, which is expected to reach USD
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Some of the key players in this market are Pfizer (U.S.), Novartis (U.S.), Spectrum Pharmaceuticals, Inc. (U.S.), Hikma Pharmaceuticals (U.K), Baxter (U.S.), Advaxis Inc., Bellicum Pharmaceuticals (U.S.), and Inc. Isofol Medical AB (Sweden).
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