Soft Tissue Sarcoma Market Poised for Growth, Expected to Reach $4.3 Billion by 2028
Soft Tissue Sarcoma Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Soft Tissue Sarcoma Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 3, 2024 /EINPresswire.com/ -- The soft tissue sarcoma market size has grown strongly in recent years, from $2.87 billion in 2023 to $3.13 billion in 2024, at a compound annual growth rate (CAGR) of 9.3%. The market is anticipated to continue its growth trajectory, reaching $4.3 billion by 2028 at a CAGR of 8.2%. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. This growth is driven by advancements in targeted therapies, increased focus on personalized medicine, and expansion of clinical trials for sarcoma treatments.
Increasing Healthcare Expenditure Propels Market Growth
The increasing healthcare expenditure is expected to propel the growth of the soft tissue sarcoma market. Healthcare refers to the organized provision of medical services, treatments, preventive care, and management of health-related issues for individuals or communities. Higher healthcare expenditures can result in increased funding for medical research, including cancer research. This can lead to advancements in understanding soft tissue sarcoma, discovering new treatment modalities, and improving overall patient outcomes. For instance, in the Economic Survey of 2022, an annual document of the Ministry of Finance, Government of India, India’s public expenditure on healthcare stood at 2.1% of GDP in 2021–22. Moreover, according to a survey of global medical insurers conducted by Willis Towers Watson Public Limited Company, a British-American company providing insurance services, healthcare benefit costs increased from 8.2% in 2021 to 8.8% in 2022 and are expected to grow again in 2023 to a high global average of 10%. Therefore, the increased healthcare expenditure will drive the growth of the soft tissue sarcoma market.
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Major Players and Market Trends
Major companies operating in the soft tissue sarcoma market include Pfizer Inc., Johnson & Johnson, Roche Holding AG, F. Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol Myers Squibb, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Merck & Co. Inc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Lupin Ltd., Philogen S.p.A., Taiho Pharmaceutical Co. Ltd., and Nanobiotix S.A.
Research Projects Drive Innovation
Major companies operating in the soft tissue sarcoma market are focusing on research projects such as the Leiomyosarcoma Project (LMS) to sustain their position in the market. Leiomyosarcoma Project (LMS) refers to a project that aims to advance scientific discovery and understanding of leiomyosarcoma, which is a rare and aggressive form of cancer that arises in smooth muscle cells, typically found in the walls of organs like the uterus, stomach, or intestines. For instance, in September 2022, Count Me In, a US-based non-profit cancer research initiative, launched the Leiomyosarcoma Project (LMS), inviting individuals with the rare cancer leiomyosarcoma to actively participate in research. This initiative aims to accelerate scientific discovery and enhance understanding of leiomyosarcoma by partnering with patients. Count Me In already runs the Osteosarcoma Project (OS), another rare cancer research effort, following a similar patient-partnered model. In these projects, patients are encouraged to share their health data, contributing to a collaborative and data-driven approach to advance research and improve outcomes for individuals with these rare cancers.
Segments:
The soft tissue sarcoma market covered in this report is segmented –
1) By Treatment: Targeted Therapy, Chemotherapy, Anti-Angiogenesis Drugs, Radiation Therapy, Other Treatments
2) By Route of Administration: Oral, Parenteral, Other Routes of Administration
3) By End-Users: Hospitals, Homecare, Specialty Centers, Other End-Users
Geographical Insights: North America Leading the Market
North America was the largest region in the soft tissue sarcoma market in 2023. Asia-Pacific is expected to be the fastest-growing region in the soft tissue sarcoma market report during the forecast period. The regions covered in the soft tissue sarcoma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Soft Tissue Sarcoma Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Soft Tissue Sarcoma Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on soft tissue sarcoma market size, soft tissue sarcoma market drivers and trends, soft tissue sarcoma market major players, competitors' revenues, market positioning, and market growth across geographies. The soft tissue sarcoma market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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