Transparency Market Research (TMR) has published a new report titled, “Metastatic Bone Disease Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global metastatic bone disease market was valued at US$ 12,450.0 Mn in 2017 and is projected to expand at a CAGR of 8.1% from 2017 to 2025. Rise in incidence rate of cancer across the globe, favorable reimbursement scenario, stringent regulatory policies assuring better product quality, increase in cancer research funding and new drug approvals, and surge in cancer awareness programs by governments and patient support organizations drive the global metastatic bone disease market. Improved hospital infrastructure in the developed markets such a North America and Europe and rise in medical tourism in Asia Pacific are expected to propel the market during the forecast period.
Favorable Reimbursement Scenario to Augment Market
Metastatic bone disease treatment is covered under the Medicare Act in the U.S., while the National Health Service (NHS) provides reimbursement assistance in the U.K. Moreover, large number of public and private insurance firms offer complete or partial financial aid and reimbursement for the treatment of metastatic bone disease. Favorable reimbursement scenario in the U.S. and Europe, where metastatic bone disease is highly prevalent, is expected to fuel the growth of the market in the near future.
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Emerging Markets in Developing Countries
Prevalence of diseases such as cancer, diabetes, and neurological disorders has increased due to rise in geriatric population and changing lifestyles in developing economies. These factors are anticipated to drive demand for better diagnosis and prevention of cancer in the near future.