New York, July 11, 2023 (GLOBE NEWSWIRE) --
The global neoplasm treatment market is projected to grow at 10% CAGR between 2023 and 2035. The market is anticipated to garner a revenue of ~USD 400 Billion by the end of 2035, up from a revenue of ~USD 170 Billion in the year 2022. The market growth can be attributed to the growing number of people suffering from malignant tumors and cancer worldwide. In accordance with the World Health Organization (WHO), over 10 million people have died because of cancer in 2020, which is a significant increase from the 9.6 million that died in 2018.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-3898
The National Cancer Institute estimates that there were 1,806,590 new cancer cases diagnosed in the United States in 2020 and 606,520 new cancer deaths were reported. Neoplasm treatment for cancer involves the use of targeted medications, radiation, and/or surgery to destroy cancer cells. These treatments can be used alone or in combination to help remove or reduce the size of a tumor, control cancer growth, and reduce the risk of recurrence.
Global Neoplasm Treatment Market: Key Takeaways
- The market in North America is forecast to grow the fastest in the upcoming years
- The malignant segment is expected to show the greatest growth over the next few years
- A substantial growth rate of market will be observed in the Asia Pacific region
Excessive Exposure to Tobacco Smoke to Boost Market Growth
A large number of people are exposed to tobacco smoke, which increases the risk of developing serious health conditions. It is estimated that nearly 40 million U.S. adults still smoke cigarettes, and more than 3.3 million middle and high school students use tobacco products, including e-cigarettes. Tobacco smoke contains a range of harmful chemicals, many of which are known to contribute to the risk of cancer. American Cancer Society statistics state that smoking causes nearly 20 percent of cancers and 30 percent of cancer deaths in the country. The chemicals in tobacco can damage cells in the body and cause them to divide more rapidly, leading to the formation of tumors. This, in turn, increases the need for Neoplasm Treatment. These chemicals can also damage the DNA in the cells, leading to genetic mutations which can result in abnormal cell growth. This can cause cells to divide too quickly, forming tumors which can then contribute to the development of cancer. As a result, people who are exposed to smoke are more likely to develop cancer, which is anticipated to drive the demand for neoplasm treatment.
Global Neoplasm Treatment Market: Regional Overview
The global neoplasm treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Cases of Breast Cancer to Drive the Market Growth in the North America Region
The neoplasm treatment market in North America region is estimated to garner the largest revenue by the end of 2035. A high prevalence of breast cancer cases is present in the region. According to the Centers for Disease Control and Prevention, about 264,000 breast cancer cases are diagnosed in women in the United States each year, while about 2,400 cases occur in men. Breast cancer kills approximately 42,000 women and 500 men in the United States each year. Breast cancer death rates are higher among black women than among white women. Additionally, North American women tend to have higher levels of hormones, such as estrogen, which can increase the risk of developing breast cancer. Neoplasm treatment for breast cancer usually involves a combination of surgery, radiation, and/or chemotherapy. Surgery involves removing the tumor, while radiation and chemotherapy are used to destroy any remaining cancer cells and reduce the risk of the cancer coming back. Furthermore, technological advancements in cancer treatments, such as advancements in immunotherapy, targeted therapies, and personalized medicines, are contributing to the growth of the regional market. Additionally, the increasing availability of funds and grants from governments and private entities to support the research and development of advanced cancer treatments is also projected to fuel the growth of the market in North America.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-3898
Increasing Geriatric Population Suffering from Cancer to Drive the Growth in the Europe Region
The neoplasm treatment market in Europe region is estimated to garner the highest CAGR by the end of 2035 backed by the region witnessing growth in geriatric population. Approximately 21% of the EU population was 65 years and older in 2022. The EU's median age increased to 44.4 years in 2022, which means half of the population was older than that age. With 19% of the world's elderly population, Europe leads the way in the elderly share of the population. [R1] As people age, the cells in the body become more vulnerable to damage due to environmental factors, such as UV radiation and pollutants, which can lead to the formation of tumors. This increased risk of tumors in the elderly population is expected to drive regional neoplasm treatment market growth. Additionally, the increasing number of cancer patients, growing government initiatives towards cancer awareness, the rising demand for personalized treatments, and the availability of advanced treatment facilities are some of the other factors driving the growth of the market in the region. For instance, every year, European Week Against Cancer (EWAC) runs from May 25 to 31 with World No Tobacco Day on May 31. [R2] Governments in Europe have been investing in campaigns to increase awareness of the importance of early diagnosis and treatment for cancer. This increased awareness has led to more people seeking treatment for neoplasms, thereby driving regional market growth.
Neoplasm Treatment Segmentation by Type
- Malignant
- Benign
The malignant segment is anticipated to hold the largest revenue by the end of 2035 owing to the growing demand for advanced treatments for malignant diseases as a result of the rising prevalence of cancer. Additionally, increasing government initiatives to promote healthcare technology innovation, increasing investment in healthcare infrastructure, and the introduction of innovative treatments for malignant diseases are also contributing to the growth of the segment. The high prevalence of malignant neoplasms, such as lung cancer and liver cancer, and the growing need for effective treatments. There are estimated to be 238,340 new cases of lung cancer in the United States for 2023 (117,550 new cases in men and 120,790 new cases in women), and 127,070 new deaths (67,160 new cases in men and 59,910 new cases in women). [R3] Malignant neoplasms are caused by the uncontrolled growth of abnormal cells in the body. These cells can rapidly spread to other parts of the body, making them hard to detect and treat. As a result, effective treatments are needed to prevent the spread of these cells and to improve the overall quality of life for those affected by them.
Purchase Copy of this Report @ https://www.researchnester.com/purchage/purchase_product.php?token=3898
Neoplasm Treatment Segmentation by End User
- Specialty Clinics
- Hospital
- Cancer Research Center
- Others
The hospitals segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment can be attributed primarily to the growing number of hospitals around the world providing health care services. According to data reported in 2020, Japan has more than 8,000 hospitals. Furthermore, Korea's number of hospitals has increased to more than 4,000 by 2020. Hospitals have the resources to provide comprehensive and effective treatments for neoplasms. Additionally, hospitals are more accessible to a wider population than other healthcare settings, so more people seek treatment there. Additionally, hospitals are often the first point of contact for neoplasm treatment and can provide comprehensive diagnostic services, treatment plans, and follow-up care. Hospitals are typically better equipped than other healthcare settings to provide a range of treatments, from surgery to radiation therapy and chemotherapy.
Few of the well-known market leaders in the global neoplasm treatment market that are profiled by Research Nester are Thermo Fisher Scientific Inc., Bayer AG, Merck & Co., Inc., Novartis AG, Abbott Laboratories, Exelixis, Inc., Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche, Amgen Inc., and other key market players.
Recent Development in the Global Neoplasm Treatment Market
- January 18, 2022: Exelixis Inc. reported successful outcomes for Cabozantinib combined with immunotherapies in advanced colorectal cancer patients. The combination of Cabozantinib and immunotherapy resulted in a statistically significant reduction in the risk of progression or death, compared with immunotherapy alone, in patients with advanced colorectal cancer.
- November 22, 2021: Merck & Co. has announced the complete acquisition of Acceleron Pharma Inc., in order to explore medical research opportunities. Merck & Co. has stated that the acquisition grants them access to Acceleron Pharma's extensive research pipeline, which includes treatments for cancer.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
