The global solid tumor cancer treatment market size was estimated at USD 185.97 billion in 2022 and is projected to hit around USD 532.42 billion by 2032, growing at a CAGR of 11.09% during the forecast period 2023 to 2032.
Solid tumor cancer is a grown solid mass that can occur on any body part. Solid tumor cancer refers to the condition in which abnormal cells divide without control. After cardiovascular and infectious diseases, cancer is considered the world's third most lethal disease. Solid tumors can occur on bones, muscles, or any organ. In medical terms, not all solid tumors are referred to as cancer, but solid tumors with cancerous cells are called malignant tumors. Solid tumor cancer includes cancer of the lungs, breasts, skin, head, neck, colon, prostate, and bladder. A biopsy is a process widely used to detect solid tumor cancer in the body in which tissue from a tumor is removed and sent to a pathologist for testing. Other measures oncologists take to detect solid tumor cancer are Magnetic Resonance Imaging (MRI) and Computed tomography (C.T.) scan.
The global solid tumor cancer treatment market aims to provide early and advanced treatment to reduce the mortality rate caused by cancer across the globe. Every type of systematic therapy done in solid tumor cancer treatment inhibits the growth of cancer cells. Reliable tumor treatment that includes regular chemotherapy sessions is widely preferred by oncologists that shrink the tumor and stop the spread of cancer. Life prolongation and reduction of suffering are primary aims followed by hospitals, oncologists, specialty centers, and pharmaceutical companies involved in the solid tumor cancer treatment market.
The solid tumor cancer treatment market is broadly divided into two types. Pharmaceuticals and treatments are widely imposed to treat solid tumor cancer. Surgery is also considered the most appropriate way to fight against solid tumor cancer. The current healthcare standard to treat solid tumor cancer includes chemotherapy, surgery, and radiotherapy options. Chemotherapy is used with surgery and continuous medication during the solid tumor cancer treatment phase. Solid tumors at early stages are treated with chemotherapy sessions and sometimes surgeries. But advanced solid tumor cancer patients have comparatively low chances of responding to the treatment. Thus, the solid tumor cancer treatment market demands advanced therapeutic approaches for cancer treatment. The solid tumor cancer treatment market is focused on innovating methods that help boost the body's anti-cancer immune surveillance mechanism. This method is seen as an essential mechanism in the solid tumor cancer treatment market. The prevalence of cancer has increased due to solid tumors. Thus, the rising demand for solid tumor cancer treatment to reduce mortality is seen as a leading factor in boosting the research, development, and investment in the solid tumor cancer treatment market.
Report Scope of the Solid Tumor Cancer Treatment Market
|Market Size in 2022||USD 185.97 Billion|
|Market Size by 2032||USD 532.42 Billion|
|Growth Rate from 2023 to 2032||CAGR of 11.09%|
|Forecast Period||2023 to 2032|
|Largest Market||North America|
|Segments Covered||By Type, By Treatment, By Route of Administration, By End-Users|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
The solid tumor cancer treatment market is expected to grow in the forecasted 2023-2032 owing to increasing government initiatives, rising investments in the research and development (R&D) sector, innovation of advanced medicine, and a rise in testing for early detection of cancer. The rise in the number of various cancers across the globe drives the growth of the solid tumor cancer treatment market. Increasing healthcare infrastructure in developing countries welcomes advanced medical treatment. The advancement in the oncology department brings change to the solid tumor cancer treatment market.
The global solid tumor cancer treatment market was affected during the Covid-19 pandemic, but the market has shown significant growth post-Covid-19 pandemic. Due to multiple driving factors, the global solid tumor cancer treatment market is likely to boost in the forecast period. The advancement in therapies for the treatment of solid tumor cancer is one of the major driving factors in the market. Increased use of nanomedicines in the therapy is another driver for the solid tumor cancer treatment market, which has also attracted investors.
The awareness of self-health care has increased the demand for early screening, which contributes to the growth of the solid tumor cancer treatment market. The research, production, and need for biosimilars have recently increased. The rapidly growing demand for biosimilars is another driving factor for the solid tumor cancer treatment market. Biosimilars are drugs produced in a similar structure as biological medicine, and they help reduce the overall cost of solid tumor cancer treatment.
The solid tumor cancer treatment market carries few restraints. The high cost associated with the treatment and medications is a significant restraint for the market. The price range for an advanced drug's research and development (R&D) is another factor that hampers the solid tumor cancer treatment market. Along with this, the threat of failed therapy and prolonged side effects of chemotherapy and cancer drugs are also seen as restraining factors for the growth of the solid tumor cancer treatment market.
In 2020, the World Health Organization (WHO) declared Covid-19 as a pandemic. Afterward, the lockdown was imposed in every country across the globe to contain the spread of Coronavirus. The restrictions imposed due to the pandemic impacted the visits of cancer patients to hospitals and negatively impacted the growth of the market. The trade market was disrupted during the period, hampered the cancer drug supply chain. However, the Covid-19 pandemic boosted online/remote consultancy for oncologists (doctors who treat cancer) across the globe.
On the other hand, the reduction in biopsies and delay in surgeries related to solid tumor cancer affected the market growth. During this period, oncologists suggested oral medications to deal with the disease. Many oncologists prefer treatment methods such as oral or homecare that patients can self-administer at home to avoid the infection of rapidly spreading virus. The critical period fueled the growth of solid tumor cancer treatment-related pharma companies as people sought self-administrative treatment methods at home. However, the number of biopsies and surgeries as part of solid tumor cancer treatment raised after the lockdown was eased, which showed significant growth for the solid tumor cancer treatment market during the post-Covid-19 pandemic.
On a positive note, the uncertain spread of the deadly Coronavirus has forced people to choose early diagnosis and advanced self-care measures owing to health concerns. Post Covid-19 pandemic, the solid tumor cancer treatment market is focused on providing advanced healthcare to cancer patients, speeding up the availability of treatment, and adopting new technologies/approaches to treat solid tumor cancer.
The solid tumor cancer treatment market is segmented by type into Sarcomas and Carcinomas. Carcinoma is a prevalent type of solid tumor cancer detected in the diagnosis process. In carcinomas, tissue is formed in epithelial cells, which are found in the skin, glands, or organ linings. Increasing numbers of patients with adrenocortical carcinomas are likely to propel the growth of the solid tumor cancer treatment market. Adrenocortical carcinoma is a condition in which a solid tumor is formed in adrenal glands located under the kidney. In sarcomas, a solid tumor is formed in the blood vessel, bones, or lymph vessels.
By treatment, the solid tumor cancer treatment market is segmented into Chemotherapy, Immunotherapy, and Targeted therapy. Chemotherapy holds the largest share of the solid tumor cancer treatment market. In this treatment type, the cancer drugs are inserted into the body with an inserting tube using a needle. Sometimes, chemotherapy is done by providing medicines that can be consumed orally. Although it carries significant risks of side effects, chemotherapy is seen as the most potent treatment to kill rapidly growing cancer cells.
Stomach, skin, prostate, and sarcoma cancers can be treated with immunotherapy. Immunotherapy is administered directly into the body by injection into a vein or muscle. It acts on the immune system of solid tumor cancer patients. Targeted therapy is also one of the essential therapies conducted in the treatment of solid tumor cancer owing to its benefit. Targeted therapy kills cancer cells by not damaging healthy cells. Healthcare providers or oncologists may suggest targeted therapies if other treatments fail to be ineffective.
Route of Administration Insights
By route of administration, the solid tumor cancer treatment market is segmented into Oral, Parenteral, and Others. In the oral way of administration, the medicine or drugs are given by mouth in the form of liquid, capsule, or tablet. Oncologists suggest an oral route in chemotherapy at the early stage of cancer. The parenteral route of administration is commonly used in the treatment of solid tumor cancer treatment in which the drugs are given by injection or infusion. The utilization of the parenteral route of administration is seen in growing the solid tumor cancer treatment market as it allows the drugs to be absorbed quickly and predictably into the cancer patient's body. On the other hand, the parenteral route of administration as treatment of solid tumor cancer is expensive compared to the oral route of administration which hampers the segment growth in the solid tumor cancer treatment market.
By end-users, the solid tumor cancer treatment market is segmented into Hospitals, Research institutes, Homecare, and Others. Hospitals are the fastest growing end-user for the solid tumor cancer treatment market owing to the increasing prevalence of types of cancer. Hospitals are developing by providing specialty centers for solid tumor cancer treatment. Additionally, they are considered the fastest-growing segment with growing healthcare infrastructure in developing countries such as India, Indonesia, Iran, Kenya, and others. At the same time, research institutes play an essential role in the growth of the solid tumor cancer treatment market by providing advanced drugs and technology for better healthcare services.
By region, the solid tumor cancer treatment market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The North American region dominates the solid tumor cancer treatment market owing to the rising technical advancement and an increasing number of cancer patients. Along with this, the presence of significant investors in research and development (R&D) in the region contributes to the growth of the solid tumor cancer treatment market. The Asia Pacific region is likely to show a significant increase during the forecast period of 2022-2030 due to developing healthcare infrastructure.
Considering the growth of the Europe region, Germany is likely to boost the development of the solid tumor cancer treatment market because of an increasing number of clinical trials being conducted in the country. The rapidly increasing number of female patients with breast cancer and rising targeted therapies to control the spread of cancer are other factors to propel the growth of the solid tumor cancer treatment market. The Middle East and Africa contribute a negligible market share among all regions. But increasing the R&D sector with the presence of investors is anticipated to boost the solid tumor cancer treatment market in golf countries. Rising medical expenditure is likely to show significant growth in the market for the Middle East region.
Key Market players:
Some of the primary critical players in the solid tumor cancer market are F.Hoffman- La Roche Ltd., Mylan N.V., Sanofi, Pfizer, Merck & Co, Allergan, AstraZeneca, Novartis AG, Bayer AG, and Lupin.
Segments Covered in the Report:
By Route of Administration
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