Melanoma Therapeutics Market Analysis | 2023-2028

Market Insights

The melanoma therapeutics market was estimated at USD 5.82 billion in 2022 and is likely to grow at a CAGR of 11.19% during 2023-2028 to reach USD 11.05 billion in 2028.

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Market Dynamics

Introduction

Skin cancer generally is of three types­– squamous cell carcinoma, basal cell carcinoma, and melanoma. Melanoma is a type of skin cancer that forms from pigment-containing cells in the skin. It is more common in locations with a sunny climate and is the most serious of all types of skin cancers. UV radiation is the prime cause of melanoma.

As per WHO, around 132,000 cases of skin cancer occur almost every year. Further, around a 10% decrease in ozone levels is expected to lead to a rise of 4,500 skin cancer cases across the globe, which drives the product demand.

COVID-19 Impact

The COVID-19 pandemic has negatively affected the global market in 2020. As the whole healthcare industry and medical professionals are swamped in treating the COVID-19-affected patients and in the phase of vaccine production, cancer treatment was overlooked with postponing and delaying of cancer treatments. In India, as for surgeries, only 20% of them were performed, compared with those performed in the corresponding period in 2019.

Market Drivers

The growing incidence of melanoma skin cancers is one of the key factors driving product consumption.

Also, growing awareness, the high adoption rate of these therapeutics among patients, and and technological developments further boost the market expansion. Moreover, favorable government initiatives for curbing skin cancers result in increasing healthcare expenditure, thus offering ample opportunities to the industry players. However, economic crisis, lack of product awareness in developing countries, and regulatory issues hinder the global melanoma therapeutics market growth.

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Key Players

Key players operating in the market are:

• AstraZeneca (UK),
• Amgen, Inc. (The U.S),
• F. Hoffman-La Roche Ltd. (Switzerland),
• Bristol-Myers Squibb Company (The U.S),
• Novartis AG (Switzerland),
• Merck & Co., Inc. (The U.S),
• Daiichi Sankyo Company Limited (Japan),
• AB Sciences (France).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Therapy Type

Based on therapy, the market has been categorized into chemotherapy, immunotherapy, targeted therapy, and radiation therapy.

• Among these, the chemotherapy segment held a substantial market share in 2022.
• This can be ascribed to its high adoption rate in the past few years owing to the growing incidence of cancer, especially skin cancers.
• Chemotherapy includes a wide range of therapeutics that involve protein-related synthetically derived products.

Regional Insights

By region, the North American market witnessed the highest market share in 2022 and is projected to register a robust CAGR during the review period.

• This is majorly attributed to the increasing incidence of melanoma and other skin cancers in the region.
• In 2013, as per the CDC, over 71,943 people were affected by melanoma.
• According to the American Cancer Society, this number is projected to go up to 87,100 cases in 2017.
• These statistics highlight the need for drugs that help in the management of melanoma over the following years.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects melanoma therapeutics market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

?Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The melanoma therapeutics market is segmented into the following categories:

By Therapy Type

• Chemotherapy
• Immunotherapy
• Targeted Therapy
• Radiation Therapy

By Drugs Type

• Opdivo
• Yervoy
• Mekinist+Tafinlar
• Keytruda
• Cotellic
• Zelboraf
• Imlygic
• Generic Drugs

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.