Solid Tumor Therapeutics Market Size
The Global Solid Tumor Therapeutics Market reached USD 194.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 565.6 million by 2031. The Global Solid Tumor Therapeutics Market is expected to exhibit a CAGR of 14.8% during the forecast period 2024-2031.
A solid tumor is a mass of abnormal cells developing in several organs. Drugs and other therapeutic modalities target and treat solid tumors with reliable tumor treatments. In clinical settings, many treatment modalities for solid tumors are routinely used.
By developing fresh immune checkpoint inhibitors, CAR-T cell therapies, and other immune-based therapeutics, there are opportunities to enhance the effectiveness and safety of immunotherapies further. Research is also being done to select better patients who will react to immunotherapy by finding biomarkers and prediction signs.
Market Scope
| Metrics | Details |
| CAGR | 14.8% |
| Size Available for Years | 2023-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Cancer Type, Drug Type, End-user, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
The increasing prevalence of cancer is driving the global solid tumor therapeutics market growth.
Older persons are disproportionately affected by cancer. In 2020, people 65 and older made up 60% of the expected new diagnoses and 73% of the estimated deaths. According to JRC specialists who researched the effect of population aging on the future cancer burden, the number of persons receiving a cancer diagnosis is predicted to rise by 21% in EU and EFTA nations by 2040 compared to 2020.
The world's population is aging, and older people are more likely to develop cancer. The number of people who are susceptible to cancer increases as life expectancy rises and healthcare quality improves. Cancer screening and detection have improved as a result of medical technological advancements and public awareness campaigns. As a result, more instances, even those in the earlier stages, are being diagnosed, which appears to be increasing in prevalence.
Active major players are driving the global solid tumor therapeutics market growth.
In June 2022, Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, expanded its off-the-shelf, iPSC-derived, cell-based cancer immunotherapy collaboration with ONO Pharmaceutical Co., Ltd. (ONO) to include the development of chimeric antigen receptor (CAR) NK cell collaboration candidates.
In addition, as part of the collaboration’s expansion, ONO will contribute novel binding domains targeting a second solid tumor antigen. Under the original Collaboration and Option Agreement entered into between Fate and ONO in September 2018, ONO has contributed novel binding domains targeting an initial solid tumor antigen, and Fate is currently conducting preclinical development of a multiplexed-engineered, iPSC-derived CAR T-cell product candidate for solid tumors.
Side effects associated with solid tumor therapeutics are hampering the global solid tumor therapeutics market growth.
Solid tumor therapies may cause a number of negative effects, just like any other drugs or medical procedures. The specific side effects can change based on the patient and the therapy being used. An increased risk of infections, low blood cell counts (anemia, neutropenia, or thrombocytopenia), mouth sores, peripheral neuropathy (numbness or tingling in the hands or feet), fatigue, loss of appetite, diarrhea or constipation, nausea, and vomiting are just a few of the side effects of chemotherapy.
Market Segment Analysis
The Global Solid Tumor Therapeutics Market is segmented based on cancer type, drug type, end-user, distribution channel, and region.
The prostate cancer segment is expected to hold a dominant position in the market over the forecast period.
The prostate cancer segment accounted for the highest market stake accounting for approximately 45.3% of the solid tumor therapeutics market in 2022. The most prevalent solid tumor in males overall and the second most common cause of cancer-related deaths in men is prostate cancer, an adenocarcinoma. Serial PSA and DRE measurements in serum were once utilized as screening tools, but recently, these assays have drawn criticism.
Prostate cancer is the most prevalent cancer in American men, except for skin cancer. According to the American Cancer Society in 2023, there will be around 34,700 new instances of prostate cancer and approximately 288,300 deaths from the disease in the United States.
Market Geographical Share
North America holds a dominant position in the global solid tumor therapeutics market.
North America is estimated to hold around 40.8% of the total market share throughout the forecast period. The cancer prevalence in the region is increasing, leading to a higher demand for screening and therapies, The rise in research and development, and active market players are the factors expected to boost regional growth over the forecast period.
In 2023, the United States is expected to see 1,958,310 new cancer cases and 609,820 cancer-related deaths. Behind lung cancer, prostate cancer is the second most common cancer among American males. Prostate cancer claims the lives of about 1 in 41 men. Although prostate cancer can be a devastating condition, the majority of men who are diagnosed with it do not pass away. In reality, more than 3.1 million American men who have received a prostate cancer diagnosis at some point are still alive.
Market Key Players
The major global players in the market include Sanofi, Amgen Inc., AstraZeneca PLC, Baxter International Inc., Biogen Inc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, and GlaxoSmithKline PLC among others.
Russia Ukraine Conflict Analysis
The Russia-Ukraine war may affect the solid tumor therapeutics market due lack of facilities being impacted during times of geopolitical instability and economic uncertainty. Healthcare professionals and patients have been forced to relocate due to the conflict.
There may be a dearth of experienced healthcare personnel because medical experts were compelled to leave the conflict areas. Due to the disruption of healthcare services and the lack of continuity of care, displaced patients may have trouble getting access to continued therapy, especially solid tumor therapies.
Artificial Intelligence Analysis:
Artificial intelligence (AI) is increasingly being used in the solid tumor therapeutics market to improve various aspects of drug discovery. Artificial intelligence is being utilized to hasten the development of solid tumor therapies.
AI algorithms are able to locate prospective therapeutic targets, create novel molecules, and improve drug candidates by analyzing enormous volumes of molecular data, including genomics and proteomics. This may speed up the develop of new treatments for solid tumors.
Key Developments
- In November 2022, the 2022 Society for Immunotherapy of Cancer (SITC) Annual Meeting will feature data from Intensity Therapeutics' ongoing phase 1/2 clinical trial showing the effectiveness and tolerability of INT230-6, either as monotherapy or in combination with pembrolizumab, in patients with relapsed refractory and metastatic solid tumors.
- In September 2022, Eli Lilly and Company's Retevmo (selpercatinib capsules) obtained approval from the US Food and Drug Administration for adult patients with locally advanced or metastatic solid tumors.
Why Purchase the Report?
- To visualize the Global Solid Tumor Therapeutics Market segmentation based on the cancer type, drug type, end-user, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous solid tumor therapeutics market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Solid Tumor Therapeutics Market Report Would Provide Approximately 69 Tables, 76 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
