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A recent report published by Infinium Global Research on melanoma drug market provides in-depth analysis of segments and sub-segments in global as well as regional melanoma drug market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional melanoma drug market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global melanoma drug market. According to the report, the global melanoma drug market is projected to grow at a CAGR of 12.56% over the forecast period of 2018-2024.
Melanoma is a form of skin cancer that arises when pigment-producing melanocytes cells mutate and become cancerous. The main cause of melanoma is intense, occasional UV exposure, especially in those who are genetically predisposed to the disease. Melanoma is classified into four stages. The initial stage of melanoma is only confined to the epidermis. In the secondary and tertiary stages, the cancer cells start spreading through the lymphatic systems. In the last stage, the cancer cells spread to distant lymph nodes and later on to other organs such as the lungs, liver and gastrointestinal tract. Treatment of melanoma depends on the stage of melanoma that includes surgery, chemotherapy, radiation therapy, biological therapy, and use of melanoma-targeted drugs. These drugs target and kill cancer cells by slowing or stopping the growth of cancer cells. These drugs help block the proteins on T cells that mediate cell immunity, therefore allowing these immune cells to attack melanoma cells.
An estimated 178,560 cases of melanoma is likely to be diagnosed in the U.S. in 2018. Of those, 87,290 cases will be non-invasive that are confined to the epidermis and 91,270 cases will be invasive. Melanoma accounts for about 1% of all skin cancers diagnosed in the United States but it causes most of the deaths. Melanoma is curable if detected early. It has 95% of the curing rate when detected early, but undetected cases result in the most deaths.
An increasing number of melanoma cases act as a major driver for the growth of the melanoma drugs industry. Melanoma is caused due to the rise in UV exposure from the sun’s rays and the rising use of indoor tanning devices. The rise in demand for treatment methods with low adverse effects and higher efficiency boosts this market. The risk of melanoma increases as people age. The average age of people when it is diagnosed is 63. However, melanoma is common even among those younger than 30. In fact, it is one of the most common cancers, especially among young women. However, these drugs are only effective if cancer cells have a certain genetic mutation. Along with these driving factors, time-consuming regulatory compliance restrains the growth of melanoma drug market. The uses of these drugs are unavoidable to treat melanoma. Moreover, the ongoing innovations in immuno-therapeutics with enhanced success rates provide opportunities for the growth of new entrants in the melanoma drug market.
Geographically, North America held the dominant share in the melanoma drug market. The rising awareness about diagnosis and cure of melanoma during initial stages drives the melanoma market in North America. The growing preference for immunotherapy also drives the melanoma drug market in this region. In the U.S., the number of people diagnosed with melanoma has risen sharply over the past 3 decades. In men and women above 50 years, the number of people diagnosed with melanoma has increased by 3% per year. Europe is the fastest growing region in the global melanoma drug market. The incidence of malignant melanoma is increasing at a significant rate in many European countries. In Asia-Pacific, improving healthcare services are expected to enhance the growth of the global melanoma drug market.
The report on global melanoma drug market covers segments such as the type of melanoma, and therapy. On the basis of the type of melanoma, the global melanoma drug market is categorized into superficial spreading melanoma, nodular melanoma, lentigo maligna melanoma, and acral lentiginous melanoma. On the basis of therapy, the global melanoma drug market is categorized into immunotherapy, chemotherapy, targeted therapy, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-Pacific region, rapid industrial growth in India and China offer substantial potential for the growth in the melanoma drug market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global melanoma drug market such as Novartis, Amgen, Roche, Bristol-Myers Squibb, Merck & Co., AstraZeneca, Eli Lilly, Johnson & Johnson, Celgene, and AbbVie Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global melanoma drug market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of melanoma drug market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the melanoma drug market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the melanoma drug market to understand the present and future trends in this market and formulate their strategies accordingly.
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