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The global metastatic bone disease market size was USD 7.63 billion in 2022 and is expected to reach a value of USD 17.38 billion in 2032 with a CAGR of 9%.

NEW YORK CITY, NY, UNITED STATES, July 10, 2023/EINPresswire.com/ -- In 2022, the global Metastatic Bone Disease Market size was valued at USD 7.63 billion. It is projected to reach USD 17.38 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9% during the forecast period.

The primary driver of market revenue growth is the increasing incidence of cancer. According to the World Health Organisation (WHO), cancer is the second leading cause of death worldwide, with an estimated 9.6 million fatalities in 2018. Approximately 70% of cancer patients in advanced stages develop bone metastases. As cancer rates continue to rise, the demand for treatments for metastatic bone disease is expected to increase.

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Key players in the Metastatic Bone Disease Market:

• Amgen Inc.
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche Ltd.
• GlaxoSmithKline plc
• Merck & Co., Inc.
• Novartis AG
• Pfizer Inc.
• Sanofi SA
• Teva Pharmaceutical Industries Ltd.
• Takeda Pharmaceutical Company Limited

Another significant factor contributing to market expansion is the growing senior population. The likelihood of both cancer and bone metastases increases with age. The United Nations predicts that by 2050, there will be 1.5 billion elderly individuals worldwide, with low- and middle-income countries experiencing the most substantial growth in this demographic group. Since older patients are more likely to require therapy for metastatic bone disease, this shift in demographics is expected to drive the growth of market revenue.

Segments Covered in the Report –

By Type Outlook -

• Breast Cancer
• Lung Cancer
• Prostate Cancer
• Kidney Cancer
• Thyroid Cancer
• Others

By Diagnosis Outlook -

• Biopsy
• Blood Test
• Imaging
• Others

By Treatment Outlook -

• Drug Therapy
• Radiation Therapy
• Surgery
• Others

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Strategic development:

• In 2021, Bristol-Myers Squibb acquired MyoKardia, a clinical-stage biopharmaceutical company specializing in cardiovascular disease treatment. The purpose of the $13.1 billion acquisition was to enhance Bristol-Myers Squibb's product portfolio in the cardiovascular disease market, which includes metastatic bone disease.

• Similarly, in 2020, Novartis AG announced its acquisition of The Medicines Company, a biopharmaceutical company focused on innovative drugs for cardiovascular disorders. With a $9.7 billion deal, Novartis aimed to strengthen its market share in the metastatic bone disease sector.

• Furthermore, Sanofi SA acquired Principia Biopharma Inc., a clinical-stage biopharmaceutical company specializing in small molecule treatments for immune-mediated disorders, in 2020. The $3.7 billion acquisition was driven by Sanofi's desire to expand its pharmaceutical offerings in the market for autoimmune diseases, including metastatic bone disease.

• Lastly, Amgen Inc. acquired Five Prime Therapeutics, Inc., a clinical-stage biotechnology company dedicated to researching and developing novel protein therapies, in 2020. The $1.9 billion deal aimed to broaden Amgen's product options in the metastatic bone disease segment of the cancer medicines market.

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