Global Solid Tumors Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Solid tumors are created by the accumulation of aberrant tissues that do not contain any liquid or cyst in the case of cancer. There are two types of solid tumors: benign and malignant. The treatment of solid tumors is difficult, and it necessitates coordinated actions by a variety of healthcare professionals, including surgeons, radiologists, radiation specialists, oncologists, and others. As a result, chemotherapy, radiation, and/or surgery are used to treat the majority of solid tumors.

Data Bridge Market Research analyses that the solid tumors market was valued at USD 209.61 billion in 2021 and is expected to reach USD 901.27 billion by 2029, registering a CAGR of 20.0% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Solid tumors are heterotypic collections of a variety of cell types, including cancer cells, cancer stem cells, connective-tissue cells, and immune cells. For malignant solid tumors, surgery is currently the most appropriate therapeutic choice. Chemotherapy is usually used with other solid tumor treatments such as surgery and radiation. Solid tumor therapies are pharmaceuticals used to treat tumors including lung cancer, breast cancer, prostate cancer, colorectal cancer, cervical cancer, and others. Solid tumor therapeutics are continuing to lead the way in oncology treatments as an effective anti-cancer therapy in the global oncology therapeutics market.

Solid Tumors Market Dynamics

Drivers

• Increasing prevalence of different forms of metastatic cancers

The rising prevalence of different forms of metastatic cancer is estimated to enhance the market's growth. In 2012, the World Health Organization (WHO) estimated that 8.2 million people died worldwide as a result of various types of malignancies. Lung, colorectal, breast, and liver cancers were among the most common cancers, with lung, colorectal, and breast cancers being the most common. Brain tumors (medulloblastoma and glioma) and neuroblastoma are the most frequent solid tumors; rhabdomyosarcoma and osteosarcoma are less common solid cancers.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of solid tumors market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

Furthermore, rising initiatives by public and private organizations to spread awareness and growing demand for highly effective chemotherapeutic agents will expand the solid tumors market. Additionally, the sedentary lifestyle of people and increasing incidences of several cases of solid tumors will result in the expansion of solid tumors market. The rising level of disposable income and surging geriatric population are the major factors anticipated to flourish the market’s growth rate during the forecast period of 2022-2029.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the solid tumors market growth.   

Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for solid tumors market growth during the forecast period.

Restraints/Challenges

On the other hand, the high cost associated with the treatment will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the solid tumors market. Additionally, strict regulatory policies and lack of awareness among people will restrain and further impede the growth rate of the market during the forecast period of 2022-2029.

This solid tumors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the solid tumors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Solid tumors market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

Recent Development

• In May 2021, Amgen announced the U.S. Food and Drug Administration (FDA) approval for LUMAKRAS (sotorasib) for treating adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC), as determined by an FDA-approved test, who have received at least one prior systemic therapy. LUMAKRAS was given priority approval due to its high overall response rate (ORR) and short response time. Continued approval for this indication could be conditional on a confirmatory trial demonstrating and documenting clinical trials.

Global Solid Tumors Market Scope

The solid tumors market is segmented on the basis of site of origin, therapy type, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Site of Origin

• Prostrate Cancer
• Ovarian Cancer
• Bladder Cancer
• Pancreatic Cancer
• Others

Therapy Type

• Chemotherapy
• Immunotherapy
• Targeted Therapy
• Tyrosine kinase inhibitors
• Proteasome inhibitor
• Hedgehog pathway inhibitor
• Others

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Solid Tumors Market Regional Analysis/Insights

The solid tumors market is analyzed and market size insights and trends are provided by country, site of origin, therapy type, route of administration, end-users and distribution channel as referenced above.

The countries covered in the solid tumors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the solid tumors market because of the rising prevalence of solid tumors and technological advancement in the treatment in this region. Additionally, rising healthcare expenditure and the presence of major key players will further propel the market’s growth rate.

Asia-Pacific are expected to grow during the forecast period of 2022-2029 due to the increasing number of geriatric population and surging level of disposable income in this region. Also, development of healthcare infrastructure and rising government initiatives will further propel the market’s growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Solid Tumors Market Share Analysis

The solid tumors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to solid tumors market.

Some of the major players operating in the solid tumors market are:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (U.S.)
• Teva Pharmaceutical Industries Ltd. (Ireland)
• Sanofi (France)
• Pfizer Inc. (U.S.)
• GlaxoSmithKline plc (U.K.)
• Novartis AG (Switzerland)
• Merck & Co., Inc. (U.S.)
• Allergan (Ireland)
• AstraZeneca (U.K.)
• Johnson & Johnson Private Limited (U.S.)
• Hikma Pharmaceuticals PLC (U.K.)
• Bristol-Myers Squibb Company (U.S.)
• Bayer AG (Germany)
• Boehringer Ingelheim International GmbH. (Germany)
• Dr. Reddy’s Laboratories Ltd. (India)
• Gilead Sciences, Inc. (U.S.)
• Amgen Inc. (U.S.)
• Eli Lilly and Company (U.S.)
• AbbVie Inc. (U.S.)
• Lupin (India)
• Allergan (Ireland)

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