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. 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.
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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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.