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  • Melanoma Therapeutics Market Analysis | 2023-2028

    Melanoma Therapeutics Market Analysis | 2023-2028

    Melanoma Therapeutics Market Analysis | 2023-2028
    Report code - SRHL252 Delivery - 2 Weeks
    Melanoma Therapeutics Market Size, Share, Dynamics, Forecast, and Growth Analysis - 2 See more...

    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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    What are melanoma therapeutics?

    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 radiations are 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 on the melanoma therapeutics market

    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, the 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.

    Melanoma Therapeutics Market Highlights

    Market Size in 2022

    USD 5.82 billion

    Market Size in 2028

    USD 11.05 billion

    Market Growth (2023-2028)

    11.19% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Key players operating in the melanoma therapeutics 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).

    Market Dynamics

    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, technological developments further boost the market expansion. Moreover, favourable 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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    Segment Analysis

    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 America 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 increasing incidence of melanoma and other skin cancers in the region.
    • In 2013, as per 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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    Critical Questions answered in the report -

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the global market?
    • What is the market share of the top vendors?

    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 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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    Target Audience

    Here is the list of the group of customers that the melanoma therapeutics market hopes to have the greatest opportunity to convert-

    • Melanoma therapeutics companies
    • Melanoma therapeutics vendors
    • Cancer companies
    • Skin care organizations
    • R&D companies

    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.

    Frequently Asked Questions (FAQs)

    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 radiations are the prime cause of melanoma.

    The melanoma therapeutics market was estimated at USD 5.82 billion in 2022.

    The melanoma therapeutics market is likely to reach USD 11.05 billion in 2028.

    The melanoma therapeutics market is expected to witness an impressive growth of 11.19% CAGR in the foreseeable future.

    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) and AB Sciences (France) are among the key players in the market.

    North America witnessed the highest share in the market in 2022.

    Growing incidence of melanoma skin cancers, the high adoption rate of these therapeutics among patients, technological developments are the factors driving the growth of the market.

    Melanoma therapeutics companies, Melanoma therapeutics vendors, Cancer companies, Skin care organizations, R&D companies are the target audience in the market.