DUBLIN, November 4, 2022 /PRNewswire/ — The “Global Melanoma Cancer Market Research and Forecast 2022-2028” report has been added to from ResearchAndMarkets.com offer.
The global melanoma cancer market is expected to have a considerable CAGR of around 12.3% during the forecast period. Melanoma is a skin cancer that develops in melanocyte cells, responsible for the production of melanin, a pigment that gives color to the skin. It is the most serious type of skin cancer and it seems to be increasing in people under 40, especially women. The disease is curable when recognized and treated at an early stage and therefore has a high success rate.
The increasing incidence of melanoma skin cancer globally is the major factor driving the growth of the market. For example, according to the American Academy of Dermatology Association report, approximately 9,500 people in the United States are diagnosed with skin cancer every day. More than one million Americans live with melanoma. Melanoma is the second most common form of cancer in women aged 15 to 29.
Rising adoption of immunotherapy and targeted therapy drugs for skin treatments, advancements in technology to improve treatment, increasing awareness in treatment and diagnosis are also driving the market growth. Government financial support for R&D of new drugs and therapies and growing number of regulatory approvals by the Food and Drug Administration are expected to boost the market during the forecast period.
However, some factors such as high costs associated with treatment and increasing use of generic drugs are hampering the growth of the market. Drugs such as cisplatin are generic, off-patent drugs and are manufactured by several cancer treatment companies around the world. Innovation in drug development, and resulting technological advancements and pipeline products are expected to create significant opportunities for the melanoma cancer market.
The global melanoma market is segmented on the basis of diagnosis and treatment. Based on therapy, the market is segmented into immunotherapy, targeted therapy, chemotherapy, and radiotherapy. On the basis of diagnosis, the market is further segmented into biopsy, computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET). Among these diagnostic methods, computed tomography is expected to have a major market share during the forecast period. A computerized tomography (CT or CAT scan) uses computers and rotating X-ray machines to create cross-sectional images of the body. Thus, the growing prevalence of melanoma will increase the demand for it, which, in turn, will further drive the market growth.
Immunotherapy is expected to have a major share in the melanoma cancer market
Among therapies, immunotherapy holds the major share of the market in 2020 and is expected to grow at a significant CAGR during the forecast period. Immunotherapy is the use of drugs to stimulate a person’s immune system to recognize and destroy cancer cells more effectively. Immunotherapies are considered the best for treating melanoma, due to fewer side effects than other therapies, and provide longer life by strengthening the immune system.
The U.S. Food and Drug Association has approved immunotherapy drugs for melanoma cancer, including Ipilimumab (Yervoy), which is an anti-CTLA-4 inhibitor, Pembrolizumab (Keytruda), Nivolumab (OPDIVO), Interleukin- 2 (IL-2, Aldesleukin( PROLEUKIN) Targeted therapy, however, is expected to witness considerable growth over the forecast period.
North America expected to dominate the global melanoma cancer market
Geographically, North America is expected to dominate the global melanoma market owing to the high prevalence of melanoma in the United States and Canada as well as a significant market share in the region. Well-developed healthcare infrastructure and reimbursement policies are some of the major factors contributing to the growth of the market in the region. The presence of major players in the market and the initiatives they are taking to generate more revenue by producing new drugs are also having a positive impact on the growth of the market. Europe is also expected to hold a major market share over the forecast period owing to the increasing number of skin cancer cases and the development of new drugs. Great Britain, Germanyand France are the major countries with high prevalence of melanoma cancer and contribute significantly to the market.
Main topics covered:
2. Overview and Market Overview
3. Competitive landscape
4. Market drivers
5. Market segmentation
6. Regional analysis
7. Company Profiles
- Abbott Laboratories
- Ab Sciences
- AbbVie Inc.
- Amgen, Inc.
- Astra Zeneca plc
- Bristol-Myers Squibb Co.
- Chateau Biosciences, Inc.
- Celgene Corp.
- Chinook Therapeutics, Inc.
- Daiichi Sankyo Co., Ltd.
- ENB Therapeutic
- Eisai Co Ltd.
- F. Hoffman-La Roche Ltd.
- GlaxoSmithKline PLC
- Incyte Corp.
- Iovance Biotherapeutics Inc.
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Novartis AG
- Pierre Fabre S.A..
- SciBase AB
For more information on this report, visit https://www.researchandmarkets.com/r/holbjr
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