According to Future Market Insights research, during the projected period, the global orthopedic oncology market is expected to grow at a CAGR of 6.5%. The market value is projected to increase from USD 1.2 Billion in 2023 to USD 2.3 Billion by 2033. The orthopedic oncology market was valued at USD 1.1 Billion at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 7.2% in 2023.
Market Outlook:
Data Points | Market Insights |
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Market Value 2022 | USD 1.1 Billion |
Market Value 2023 | USD 1.2 Billion |
Market Value 2033 | USD 2.3 Billion |
CAGR 2023 to 2033 | 6.5% |
Market Share of Top 5 Countries | 54.1% |
Key Market Players | General Electric (GE) Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Hitachi Medical Systems, Hologic, Shimadzu Medical Systems, Carestream Health, Canon Medical Systems, FUJIFILM Medical Systems, Ziehm Imaging, Planmed Oy, EOS imaging, Medtronic plc, Stryker Corporation, Cook Medical, Zimmer Biomet, Biopsybell, Becton Dickenson & Company, and Teleflex Inc. |
Orthopedic oncology is a specialized field of medicine which focuses on diagnosing and treatment of bone and soft tissue tumors, both benign and malignant, within the musculoskeletal system. The orthopedic oncology market is driven by multiple factors such as increasing incidences of bone and soft tissue tumours, and advancements in diagnostic techniques and treatment modalities. The field involves orthopedic surgeons, radiologists, and pathologists to give comprehensive care to patients with bone and soft tissue cancer.
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The market value for orthopedic oncology was around 0.6% of the overall USD 191.3 Billion of the global cancer diagnostics market in 2022. The diagnostics of orthopedic oncology expanded at a CAGR of 6.3% from 2017-2022, due to the increasing cases of musculoskeletal cancer.
Orthopedic oncology emerged as a distinct field in the late 1960s and early 1970s when orthopedic surgeons recognized the need for specialized care for patients with bone and soft tissue tumors. The development of advanced imaging techniques such as magnetic resonance imaging (MRI) and computed tomography (CT) scans greatly improved the ability to diagnose and stage tumors accurately, enabling better treatment planning.
Several macroeconomic factors have been affecting the market among which healthcare spending has had a crucial impact on the market.
According to the journal Inquiry 2019, healthcare spending on treatment for cancer has also risen dramatically during the last two decades. Cancer research has resulted in advancements in the early detection and management of cancer during the last several decades, leading to decreases in overall mortality and incidence attributable to cancer.
According to data from the Agency for Healthcare Research and Quality, $57 billion was invested in treatment for cancer in 2001, rising to $88.3 billion in 2011,8 and the National Cancer Institute predicted that national projections of cancer care expenses might reach $173 billion by 2020.
Musculoskeletal tumours represent an uncommon and diverse group of tumours. Sarcomas of the bone and cartilage account for less than one per cent of all cancers in humans. Their prevalence is much higher in youngsters than in adults. The market is affected by the availability of innovative treatment options including targeted therapies and immunotherapies.
The number of cancer patients globally is increasing, and technological developments such as image reconstruction programmes, imaging equipment, biomarkers, as well as artificial intelligence algorithms are helping in imaging techniques and surgical techniques are influencing the orthopedic oncology industry.
Techniques such as magnetic resonance imaging (MRI) and computed tomography (CT) scan aid in tumour diagnosis and assessment, while limb-salvage surgeries and reconstructive procedures have improved patients' health.
The orthopedic oncology market is likely to expand in the future years, owing to factors such as the rising prevalence of bone and soft tissue tumours, technological developments, and the development of novel treatment options.
High treatment expenses, including surgeries, radiation therapy, and chemotherapy, are one of the factors that could limit the growth of the orthopedic oncology market. Patients face financial constraints as a result, limiting their access to effective care, particularly in underdeveloped nations.
Another issue will be the scarcity of clinical data and research possibilities. The lack of cutting-edge medicines for patients and poor progress in cancer research impede the development of new treatment choices and creative remedies.
The USA occupies 26.2% share in global market in 2022.
According to the American Cancer Society 2021, Americans are at risk of chondrosarcoma for a variety of causes, including advanced age, enchondroma or multiple enchondromatosis, which is connected to mutations in the IDH1 or IDH2 genes. People who have received radiation therapy (typically to treat another type of cancer) have an increased risk of acquiring bone cancer, according to the Centre for Disease Control and Prevention 2020.
These factors make the USA population more favourable to the orthopedic oncology market. Along with this USA has a well-developed healthcare system with advanced medical infrastructure for the diagnosis and treatment of tumor, thus making the USA a prominent market for orthopedic oncology.
China’s revenue generation on orthopedic oncology diagnosis in 2022 was USD 105.0 Million.
According to Medical Express 2022, In the year 2022, China would have 4.82 million new instances of cancer and 3.21 million deaths due to cancer. The basic occurrence rate for primary bone malignancies was 1.76/100,000 Chinese standard population (ASIRC) as per Clinical Cases in Mineral and Bone Metabolism data from 2012.
China has a strong emphasis on research and development in the field of cancer treatment. As per an article in The Lancet Oncology 2021, The country invests significantly in medical research and clinical trials, and the development of innovative therapies. This focus on research and innovation attracts leading experts and encourages collaboration between the healthcare and pharmaceutical industries. Thus making China a highly lucrative market for orthopedic oncology.
In 2022, India held a dominant share of the East Asia market and contributed around USD 87.9 Million.
The country's rapidly growing economic condition of the middle-class population has increased spending on healthcare and discretionary income. India has a well-developed healthcare system with excellent medical facilities, research institutions, and specialised cancer hospitals.
Recently, in January 2022, Ayushman Bharat approved bone marrow transplants, which are frequently advised to cancer patients. With a population of 1.4 billion, India has a high probability of orthopedic oncology cases. The healthcare scheme is a strength for the population with low socioeconomic backgrounds; as the government of India bears the maximum cost, more and more patients will opt for treatment, resulting in the growth of the orthopedic oncology market in India.
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The market value of diagnostics imaging used for diagnosis is USD 715.1 Million, representing a sizable 62.3% global market share in 2022. Recently, the Musculoskeletal Tumour Society and the American Academy of Orthopedic Surgeons 2018, agreed upon a clinical practice suggestion titled Use of Imaging before Referral to an orthopedic oncologist.
In the absence of credible data, conventional radiographs are a reasonable diagnostic tool that should be explored during the first evaluation of a soft-tissue tumour. Diagnostics imaging is recommended in orthopedic oncology because it provides precise anatomical details, aids in staging and treatment planning, monitors therapy response and reduces invasiveness and patient pain.
Stage I of cancer contributes to 36.9% market share in 2022 and is expected to grow with a CAGR of 8.0%. In general, the initial stage of cancer is curable and has a higher possibility of success than the subsequent phases. As a result of the increased emphasis on detection and diagnosis, a greater percentage of patients are recognised and treated in stage I.
Medical technological advancements and growing awareness of the need for early diagnosis have resulted in enhanced screening procedures and increased involvement in cancer screening programmes.
By indications, osteosarcoma accounted for a predominant share of the global market, with a revenue share of 45.6% in 2022.
According to an article published in Société Internationale de Chirurgie Orthopédique et de Traumatologie 2018, Osteosarcoma (OS) is a type of main malignant bones tumour that affects 3.4 per million individuals globally each year. With an annual incidence of 5.6 cases per million adolescents below the age of 15, OS is the third most frequent cancer during adolescence, after only lymphomas and brain tumours. The greatest prevalence occurs during the second decade of adulthood.
Osteosarcoma was once assumed to be a radioresistant malignancy. However, advances in radiotherapy that makes it possible for the secure delivery of high doses of radiation are encouraging for patients with inoperable or insufficiently resected axial bones. It is aggressive and grows quickly, with an elevated risk and chance of spreading to other regions of the body; hence, it is prevalent in orthopedic oncology.
The hospitals have a considerable presence in the orthopedic oncology market, accounting for 48.9% of end users and exhibiting a prominent Compound Annual Growth Rate (CAGR) of 6.0%.
Hospitals are well-equipped with types of equipment and instruments for the diagnosis and treatment of orthopedic cancer. The doctors, nurses and other staff are readily available for treatment and care, and the patient with special care can be admitted to hospital wards. The physicians can observe and treat patients 24*7 in the hospital. Hence these factors make hospitals major benefitting end users in the market.
Collaborations and partnerships among hospitals, healthcare providers, research institutions, and technology businesses can encourage innovation and hasten orthopedic oncology diagnosis and treatment. Many pharmaceutical industries are involved in Research and Development and the development of drugs for the treatment of orthopedic cancer. Among the well-known players in this field are:
Deep learning is being used by the AI-powered platform to boost automation and make MRI scanning more efficient for hospitals dealing with concerns such as staff burnout and rising electricity expenditures.
The research institutions and medical schools have formed an innovative collaboration to advance personalised medicine and provide consumers with high-quality, cost-effective healthcare.
Similarly, recent developments related to the company’s active within the orthopedic oncology market space have been tracked by the team at Future Market Insights, which are available in the full report.
Attribute | Details |
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Forecast Period | 2023 to 2033 |
Historical Data Available for | 2017 to 2022 |
Market Analysis | USD Million for Value |
Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA) |
Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Russia, India, Thailand, China, Indonesia, Malaysia, Japan, South Korea, Australia, New Zealand, GCC countries, Türkiye Northern Africa and South Africa. |
Key Market Segments Covered | Diagnostic Techniques, Cancer Stage, Indications, End User, and Region |
Key Companies Profiled | General Electric (GE) Healthcare; Siemens Healthineers; Koninklijke Philips N.V.; Hitachi Medical Systems; Hologic; Shimadzu Medical Systems; Carestream Health; Canon Medical Systems; FUJIFILM Medical Systems; Ziehm Imaging; Planmed Oy; EOS imaging; Medtronic plc; Stryker Corporation; Cook Medical; Zimmer Biomet; Biopsybell; Becton Dickenson & Company; Teleflex Inc. |
Report Coverage |
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Pricing | Available upon Request |
In 2023, the market is valued USD 1.2 billion.
Until 2033, the market will experience a 6.5% CAGR.
Growing prevalence of bone and soft tissue tumors drives market growth.
Stage I will expand at an 8.0% CAGR through 2033.
General Electric (GE) Healthcare, Siemens Healthineers, and Koninklijke Philips N.V. are some key players.
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