Market Outline: Melanoma Treatment Market
Melanoma is the more serious type of cancer which develops in cells of skin called melanocytes that produce melanin. Melanoma not only affects skin but it also affects eyes and rarely, affects internal organs such as the intestine. The exact cause of melanoma is not clearly known, but the exposure of skin to UV radiation or tanning lumps and beds increases risk of developing melanoma.
Market Dynamics: Melanoma Treatment Market
Melanoma treatment market is primarily driven by the increase in number of people suffering from melanoma coupled with the advancements and new drug approvals such as keytruda, vemurafenib, dabrafenib and nivolumab for the treatment of melanoma. In addition, growing number of drug developments, current pipeline drugs and their expected approvals during the forecast period projected to boost the melanoma treatment market over the forecast period. Furthermore, increase in government support and R&D activities to fight against cancer coupled with various initiatives by government and non-government organizations expected to bolster the market growth over the forecast period.
Upsurge in the global melanoma prevalence rates and pipeline drugs for the treatment of melanoma projected to boost the global melanoma treatment market at significant rates over the forecast period. According to World Health Organization (WHO), there is continuous increase in global prevalence of melanoma worldwide and estimated to be 132,000 melanoma skin cancers occurs every year. Companies in marketplace are focused on development of the new drug treatments and identification of different noel targets for the treatment of melanoma. For instance, binimetinib is being developed by Array BioPharma under phase 3 clinical trials for various types of cancers including melanoma. Furthermore, companies also focus on collaborations and acquisitions to develop the new drug treatments and expanding their portfolio in melanoma treatment market.
Global melanoma treatment market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Scope: Melanoma Treatment Market
Melanoma treatment market is segmented based on treatment, class of drugs, distribution channel
Based on treatment, the market is segmented into
- Targeted Therapy
- Radiation Therapy
- Biological Therapy
Based on class of drugs, the market is segmented into
- MEK Inhibitors
- Monoclonal Antibodies
- BRAF Inhibitors
Based on the distribution channel, the market is segmented into the following:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regional Analysis: Melanoma Treatment Market
Geographically, global melanoma treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America melanoma treatment market expected to grow at significant rates due to the high prevalence of the disease in the region. According to American Cancer Society, the rates of melanoma are raising from past 30 years and about 91,270 new melanomas will be diagnosed in 2018. In addition, favourable reimbursement policies in the region coupled with the increase in disposable income are expected to boost the market share of the region over the forecast period. Europe melanoma treatment market projected to grow at notable rates owing to the factors such as growing prevalence of melanoma, presence of key market players in the region and increase in R&D towards the development of new treatments for cancer backed with growing government funding. Asia Pacific melanoma treatment market projected to have the lucrative growth opportunity due to growing healthcare expenditure by the population and increase in R&D investments by the companies and government in the region.
- Hoffmann-La Roche Ltd. (Switzerland)
- Bristol-Myers Squibb (U.S.)
- Novartis AG (Switzerland)
- Genetech Inc. (U.S.)
- AstraZeneca plc (U.K.)
- Polynoma LLC (CK Life Sciences) (Hong Kong)
- Sanofi S.A. (France)
- Amgen Inc. (U.S.)
- Takeda Pharmaceutical Company (Japan)
- Merck & Co. Inc. (U.S.)
Notable Market Developments:
- In September 2017 Merck Sharp & Dohme launched its blockbuster drug Keytruda in India for the treatment of unresectable or metastatic melanoma.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market