Solid Tumor Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The solid tumor therapeutics market is expected to register a CAGR of 15% during the forecast period. The major factors that are responsible for the growth of this market include new product approvals in ovarian, pancreatic, and prostate cancers, and increasing government initiatives for cancer awareness. In addition, the other crucial driving factor is the increasing incidence of cancer. For instance, cancer has a significant impact on societies across the world. The most common cancers in 2016 were breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, bladder cancer, melanoma of the skin, non-Hodgkin lymphoma, thyroid cancer, kidney and renal pelvis cancer, leukemia, endometrial cancer, and pancreatic cancer.

Cancer rates could further increase by 50%, to 15 million new cases by 2020, as per the World Cancer Report. It also provides clear evidence that healthy lifestyles and public health action by governments and health practitioners could prevent this trend and prevent as many as one-third of all cancers, worldwide. The American Cancer Society, the leading body in cancer stats and figures, reports 1,685,210 estimated new cancer cases and 595,690 deaths, due to cancer in 2016, in the United States. Hence, the increasing number of patients is expected to drive the market during the forecast period.

However, factors, such as stringent regulatory reforms and price erosion due to generic competition may hinder the growth of this market.

Scope of the Report

Solid tumor therapeutics are pharmaceuticals that specifically treat various cancers, such as breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, and others. Solid tumors are an abnormal mass of tissue that usually does not contain cysts or liquid areas.

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Key Market Trends

Breast Cancer is Expected to Hold the Major Revenue Share in the Type of Cancer Segment

Breast cancer is one of the major cancer types for which new immune-based cancer treatments are currently in development. More than 80% of all cancers are caused by solid tumors that grow as a mass of cells in a particular organ, tissue or gland. According to the American Cancer Society, as of 2018, it is estimated that approximately 268,670 new breast cancer cases are expected in the United States. And even several major companies are investing in the development of new treatments for cancers. For example, Ibrance (palbociclib) by Pfizer is for the treatment of ER-positive, HER2-negative breast cancer and has been approved in February 2015. A trial of the use of two drugs in combination found that tumors were completely cleared in 11% of patients with HER2-positive breast cancer and were reduced to a “minimal” size in a further 17%. Nearly 90% saw a reduction in the number of cancer cells. Hence, with the entry of new drugs the segment is expected to continue its lead as the number of cases is also helping in the growth.

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