Global Solid Tumor Therapeutics Market – Overview
While suffering from cancer, solid tumors are generally formed due to an aggregation of the abnormal tissues. These tissues do not have any cyst or liquid. Such solid tumors can be of two types namely malignant and benign. It is tough to treat such solid tumors and it needs special attention and care from the healthcare professionals such as radiologists, oncologists, surgeon, and radiation specialists among others.
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Naturally, the majority of the solid tumors are treated with the help of surgery, chemotherapy, and/or radiotherapy. However, currently, getting rid of the solid tumor through surgery is the preferred treatment option. The solid tumor therapeutics is a type of pharmaceutical drugs that are designed to treat different types of cancers such as prostate cancer, cervical cancer, colorectal cancer, breast cancer, and lung cancer among others.
Global Solid Tumor Therapeutics Market – Notable Developments
Some of the key developments in the global solid tumor therapeutics market are listed below:
- In July 2019, GlaxoSmithKline PLC. announced that the company was successful in getting positive results from Phase 3 of its PRIMA research. This research is a placebo-controlled, double-blind, and randomized study of ZEJULA. It is a maintenance therapy for the patients suffering from the first line of ovarian cancer after undergoing platinum-based chemo. The research was concluded with a considerable statistic improvement in the development of the treatment of ovarian cancer in women regardless of the status of their biomarkers.
- In June 2019, Roche announced that the Ministry of Health, Labor, and Welfare of Japan has given its approval to Rozlytrek®. Rozylytrek® is a new line of product launched by Roche that used in treating both pediatric and adult patients diagnosed with NTRK (neurotrophic tyrosine receptor kinase) fusion-positive advanced recurrent solid tumors. The medicine is the first solid tumor therapeutic drug approved by the Japanese ministry that tries to tackle the NTRK gene fusion. These NTRK gene fusions are identified across a broad range of solid tumors such as salivary gland, pancreatic, breast, thyroid, and lung among others.
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Global Solid Tumor Therapeutics Market – Drivers and Restraints
Some of the key driving factors for the growth of the global solid tumor therapeutics market are listed below:
- Growth in product approvals: One of the primary reasons for the growth of the global market is the increasing number of product approvals in the market to treat different types of cancers such as prostate, pancreatic, and ovarian among others.
- Government initiatives: Governments across the globe are investing heavily in healthcare research and development activities to discover products that will help in battling cancer. Solid tumor therapeutics is one such drug. In addition to this, governments are undertaking numerous initiatives to generate awareness about cancer and related therapies. This is also helping in fueling the growth of the market.
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Global Solid Tumor Therapeutics Market – Regional Outlook
The global solid tumor therapeutics market is segmented into key geographical regions such as North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Of these mentioned regions, the global solid tumor therapeutics market is currently dominated by the North America segment. It is expected that the region will continue its growth rate and market dominance over the course of the given forecast period of 2019 to 2027. Some of the reasons behind the growth of the North America market is the rising incidences of cancer, highly developed healthcare infrastructure, and increasing awareness among people.