Chordoma Disease Market

Market CAGR for chordoma disease is being driven by the rising elderly population. The rise in the elderly population, rising government initiatives, investments in R&D by pharmaceutical companies, and demand for minimally invasive surgery for chordoma treatment are projected to be the main factors driving market expansion. The absence of health insurance coverage, cost increases, and side effects from radiation and chemotherapy therapy are anticipated to impede market expansion.

Opportunities anticipated to support the market growth include the emergence of unexplored markets, the growth of emerging markets in developing nations, the opening of new healthcare facilities, and the development of novel therapeutics.

Men are shown to have a higher prevalence than women by a factor of two. Additionally, most tumor instances happen in people between 50 and 70. About two out of every five chordomas (40%) spread in the area of the skull, while the remaining chordomas grow in the spine's vertebrae. The Endoscopic Endonasal Approach (EEA), created by UPMC, is the surgical procedure of choice for chordomas of the base of the skull. The inoperable tumors are reached using this minimally invasive approach by passing through the nasal canals.

The advantages of EEA surgery include quicker healing, no deformity, and no incisions to close.Over the projection period, the market would experience growth due to the increasing number of bone cancer incidences. For instance, primary bone cancer is uncommon and makes up considerably less than 1% of all newly diagnosed tumors, according to the National Cancer Institute. According to the American Cancer Society's forecast for 2022, there will be 3,910 new cases of bone cancer diagnosed in the USA, leading to 2,100 fatalities. Less than 1% of all malignancies are primary bone cancers, rare cancers that begin in the bones.

Adults are more likely to develop secondary bone cancers (often called bone metastases) than primary ones.

Government programs for treating bone cancer are anticipated to grow in the market. For instance, the VERDI project, supported by the European Commission, created inventive multifunctional nanoplatforms that may mend difficult-to-treat bone ailments utilizing a special, adaptable, and scalable technology. The Innovative Manufacturing Cooperative Research Centre (IMCRC) donated $A2.36 million in cash, and Stryker jointly sponsored the project. Therefore, the industry is being driven by an increase in government activities.Thus, driving the Chordoma Disease market revenue.

The Global Chordoma Disease Market Industry is witnessing a rise in the incidence of chordoma, a rare type of bone cancer that primarily affects the skull and spine. This increase is attributed to improved diagnostic techniques and heightened awareness among healthcare professionals. As more cases are identified, the demand for effective treatment options is likely to grow. In 2024, the market is projected to reach 4.34 USD Billion, reflecting the urgent need for innovative therapies. The growing patient population is expected to drive research and development efforts, thereby enhancing the overall market landscape.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Chordoma Disease market will dominate this market; because there are now several clinical trials for bone cancer treatments taking place in the region, mostly in the United States, it is anticipated that the region will expand its market share. New chemotherapies are being tested in several studies. Researchers are also considering novel applications for the portfolio of currently approved medicines.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2  CHORDOMA DISEASE MARKET SHARE BY REGION 2023 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Chordoma Disease market accounts for the second-largest market share due to ongoing technological developments in cancer diagnoses. Further, the German Chordoma Disease market held the largest market share, and In all of Europe, the market for Chordoma Disease in the UK has the quickest expansion rate.

Between 2023 and 2032, the market for Chordoma Disease in Asia-Pacific is anticipated to develop quickly. This is because of the strategic actions taken by major companies, the significant growth in cervical screening programs run to raise awareness and screening, the increase in R&D, and technical developments. Moreover, China’s Chordoma Disease market held the largest market share, and the Indian Chordoma Disease market was the fastest-growing market in the Asia-Pacific region.

Leading industry companies are making significant R&D investments to diversify their product offerings, which will drive the Chordoma Disease market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Chordoma Disease industry must provide affordable products to grow and thrive in a more competitive and challenging market environment.

Local manufacturing to cut operating costs is one of the key business tactics manufacturers use in the  Chordoma Disease industry to help clients and expand the market sector. Major players in the Chordoma Disease market, including Bavarian Nordic and others, are attempting to increase market demand by investing in research and development operations.

Bavarian Nordic is a fully integrated biotechnology firm dedicated to creating novel, risk-free treatments for cancer and infectious disorders. They have developed a wide range of proprietary and co-developed product candidates to enhance the health and quality of life of children and adults using their live viral vaccine platform, MVA-BN. They provide the Strategic National Stockpile of the United States and other government stockpiles with its non-replicating smallpox vaccine, IMVAMUNE. The vaccine is authorized in Canada and the European Union (where it is sold under IMVANEX). The United States is now conducting registration studies.

The United States is now conducting registration studies. Their infectious disease pipeline includes a proprietary RSV program in addition to vaccine candidates for Ebola, HPV, HBV, and HIV, which are developed through a strategic partnership with Janssen, in addition to their long-standing collaboration with the U.S. government on the development of IMVAMUNE and other medical countermeasures. Additionally, in partnership with the National Cancer Institute, they have created a portfolio of active cancer immunotherapies that aim to change the course of the disease by inducing a strong and widespread anti-cancer immune response while preserving an advantageous risk-benefit profile.

The U.S. (FDA) granted orphan drug status to Bavarian Nordic A/S's BN-Brachyury, a brand-new cancer vaccine recommended for the treatment of chordoma.

The primary goals of Guangzhou, China's top biotechnology company, Bio-Thera Solutions Ltd., are the research and development of novel therapeutics for the treatment of cancer, cardiovascular,autoimmune,  and various other serious unmet medical needs, and the development of biosimilars for currently available, labeled biologics to treat many kinds of cancer-related and autoimmune disorders. The business, a pioneer in developing next-generation antibodies, has moved five candidates into late-stage clinical trials and submitted an application for marketing authorization for one candidate. The company also has several interesting candidates in early clinical trials and IND-enabling investigations, concentrating on novel targets in autoimmune and immuno-oncology illnesses.

In January 2019 According to a licensing agreement between Bio-Thera Solutions Ltd. (hereafter referred to as "Bio-Thera") and Cipla Limited for BAT1706, a bevacizumab biosimilar, Cipla will have the sole right to market and distribute the medication in a few emerging regions. Currently licensed for six indications, including metastatic colorectal cancer, recurrent glioblastoma, and non-squamous non-small cell lung cancer, BAT-1706 is a mAb biosimilar of Genentech's Avastin.