The Global Orthopedic Oncology Industry is expected to grow at a significant rate in the coming years, driven by several factors including increasing oncology cases around the globe, and advances in diagnostic and treatment techniques to stand at US$ 1.1 Billion in 2022, and it is further projected to expand at a CAGR of 6.5% over the forecast period (2023-2033).
With a more diverse healthcare infrastructure, a higher prevalence of orthopedic oncology patients and a strong emphasis on research and innovation, the global population has grown. Several reasons are driving the orthopedic oncology market, including technical developments in imaging techniques such as MRI and CT scans, which allow for more precise tumor detection and diagnosis. Advances in surgical techniques, such as limb-salvage surgery and reconstructive operations, have also improved patient outcomes and boosted demand for orthopedic oncology. Concurrently, targeted treatments and immunotherapies for the treatment of bone and soft tissue tumors are being developed.
In general, the orthopedic oncology diagnostics market will likely expand more in the next years. This market provides people a cheap and convenient way to improve their smile.
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Key Takeaways from Global Orthopedic Oncology Industry Study
- By diagnostic techniques, the diagnostic imaging section accounts for 3% of the total market in 2022. This most frequently used technique for tissue diagnostics from images provided the most accurate insights into the cancer stage.
- By cancer stage, stage I cancer accounts for 9% of the total market share in 2022. Healthcare systems and policies in many countries prioritize early detection and treatment of cancer to reduce healthcare costs.
- By indication, osteosarcoma contributes to 6% of the total market in 2022. Orthopedic oncology has made significant advancements in limb-salvage surgeries for osteosarcoma patients; the expertise in this field has contributed to a higher prevalence of osteosarcoma treatment.
- When considering end users, hospitals accounted for around 9% of the global market share in 2022. Orthopedic oncology provides specialized care for patients with bone and soft tissue tumors, hospitals provide comprehensive care to these patients, including accurate diagnosis, advanced treatment options and long-term follow-up care.
- North America dominated the global market in 2022 with the U.S. contributing around US$ 300.3 Million in 2022.
“Technology advancements and the increasing occurrence of bone and soft tissue tumours are driving the expansion of the orthopedic oncology market, which is expected to rise until 2033.” says an analyst of Future Market Insights.
Global Orthopedic Oncology Industry Competition
Companies within this market sphere actively seek partnerships and acquisitions as the key strategy to maintain their foothold in the market.
- In July 2022, Hitachi, Ltd. was chosen by UW Health to provide the infrastructure to support proton therapy at UW Health Eastpark Medical Centre. Noteworthy in bringing together an experienced proton provider and a large university medical center with a track record of developing and implementing cutting-edge technology.
- In January 2021, Hologic finalized the $64 million acquisition of Somatex Medical Technologies GmbH. Hologic considers Somatex’s products, which consist of minimally invasive devices for tumor diagnostics, biopsy, and interventional specialty, as potential to expand the company’s breast health care portfolio’s knowledge and abilities.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the orthopedic oncology market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032. The global orthopedic oncology market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on diagnostic techniques (diagnostic imaging, [x-ray imaging, MRI imaging, CT imaging, PET imaging, and ultrasound imaging] bone biopsy [biopsy needles, and biopsy trays & kits]), by cancer stages (stage I, stage II, stage III, and stage IV), by indication (osteosarcoma, chondrosarcoma, Ewing sarcoma, and chordroma) by end user (hospital, diagnostics centers, and specialty orthopedic clinics), across seven key regions around the world.
Key Market Segments Covered in the Global Orthopedic Oncology Industry Research
By Diagnostic Techniques:
- Diagnostic Imaging
- X-ray Imaging
- MRI Imaging
- CT Imaging
- PET Imaging
- Ultrasound Imaging
- Bone Biopsy
- Biopsy Needles
- Biospy Trays & Kits
By Cancer Stage:
- Stage I
- Stage II
- Stage III
- Stage IV
By Indication:
- Osteosarcoma
- Chondrosarcoma
- Ewing Sarcoma
- Chordoma
By End User:
- Hospitals
- Diagnostic Centres
- Specialty Orthopedic Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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