Solid Tumor Therapeutics Market Size (2024 - 2029)

Solid Tumor Therapeutics Market Analysis

The Solid Tumor Therapeutics Market size is estimated at USD 191.58 billion in 2024, and is expected to reach USD 283.83 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).

The factors driving the growth of the solid tumor therapeutics market include the increasing incidence of cancer, surging research and development activities in solid tumor therapeutics, and rising drug approvals. In addition, increasing government initiatives for cancer awareness are also expected to drive market growth during the forecast period. The high burden of cancer is expected to boost the demand for solid tumor therapeutics for cancer treatment, propelling the market’s growth. For instance, according to the European Breast Cancer Coalition's report published in October 2023, one in 11 women in the European Union were diagnosed with breast cancer before the age of 74.

According to January 2024 statistics published by Breast Cancer Now, about 55,000 women are diagnosed with breast cancer in the United Kingdom every year. The same source reported that 46,000 people are diagnosed with breast cancer in England every year, followed by 4,700 in Scotland, 2,800 in Wales, and 1,500 in Northern Ireland. Thus, the high burden of breast cancer worldwide is expected to accelerate the demand for solid tumor therapeutics for breast cancer, thereby boosting the market’s growth during the forecast period.

In addition, rising strategic initiatives by market players to launch advanced solid tumor therapeutics augment the market growth. For instance, in August 2023, Impilo Therapeutics, Inc. launched to enable nucleic acid-based medicines to treat solid tumor cancers effectively. The company signed an agreement with Lisata Therapeutics, Inc. for the targeted delivery of nucleic acid-based drugs for solid tumor cancer indications.

Therefore, owing to the factors above, such as the high burden of cancer, rising clinical trial developments, and increasing product launches, the market studied is anticipated to grow during the forecast period. However, stringent regulatory reforms and price erosion due to generic competition are expected to restrain the growth of this market.

Solid Tumor Therapeutics Industry Segmentation

As per the report's scope, solid tumor therapeutics are pharmaceuticals that specifically treat various cancers, such as breast, lung, colorectal, prostate, and cervical cancer. Solid tumors are abnormal tissue masses that usually do not contain cysts or liquid areas.

The solid tumor therapeutics market is segmented by cancer type, drug type, and geography. By cancer type, the market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, and other cancer types. By drug type, the market is segmented into carboplatin, cisplatin, gemcitabine, paclitaxel, doxorubicin, bevacizumab, erlotinib, sunitinib, everolimusa, and other drug types. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.