Market Size of Global Metastatic Cancer Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Metastatic Cancer Treatment Market Analysis
The metastatic cancer treatment market is expected to register a CAGR of 8.1% over the forecast period, 2022-2027.
The COVID-19 pandemic delayed treatment for patients seeking care for life-threatening conditions, including cancer. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in the diagnosis and treatment of metastatic cancer patients. Additionally, the severity of metastatic cancer has grown dramatically owing to the decline in hospital visits. It is also anticipated that treatment interruptions will reduce the likelihood that people with cancer will survive in the future. For instance, according to a study "Exploring metastatic breast cancer treatment changes during COVID-19 pandemic", it was observed that measures were undertaken to reduce access to hospitals for cancer patients in countries where the COVID-19 cases were massive, such as in Italy, which created a gap in between regular appointments. Moreover, elective surgeries, follow-up appointments, and initial cancer treatments were canceled or postponed, prioritizing hospital beds and care for those patients who were extremely affected by COVID-19. However, the metastatic cancer treatment market growth observed a significant increase in the later stages of the pandemic owing to the surge in metastatic cancer cases among the population. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction due to the significant increase in research and development of metastatic cancer treatment drugs.
Furthermore, the increasing prevalence of metastatic cancer, the surge in research and development activities, identification of new cancer drugs, and growing demand for stem cell therapy to treat metastatic cancer are boosting the growth of the studied market.
A growing patient population is likely to have a positive impact on the growth of the market over the coming years. For instance, according to Susan G. Komen Metastatic Breast Cancer Organization estimates in 2020, more than 168,000 women are living with metastatic breast cancer in the United States. Likewise, as per the data published by the American Cancer Society's Cancer Facts & Figures 2020, more than 90% of cancer-related deaths are caused by metastasis. After a person receives a successful course of therapy, annual tests, and/or five, ten, or more years after diagnosis, metastatic cancer may still develop.
Moreover, a surge in the number of strategic initiatives such as product approvals and developments, mergers and acquisitions, and joint ventures among the key market players is also anticipated to drive the market growth throughout the forecast period. For instance, in February 2022, AstraZeneca and Daiichi Sankyo's Enhertu received Food and Drug Administration approval, which is a prescription drug used to treat metastatic breast cancer and metastatic stomach cancer called gastroesophageal junction (GEJ) adenocarcinoma.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the high cost of oncology treatment is likely to impede the market's growth.
