The global Skin Cancer Drugs Market is estimated to be valued at US$ 8 Bn in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Skin cancer drugs are used to treat melanoma and non-melanoma skin cancers such as basal cell carcinoma and squamous cell carcinoma. These drugs work by either inhibiting the growth and division of cancer cells or by boosting the immune system's ability to fight cancer cells. Skin cancer drugs provide non-invasive treatment options and help avoid disfiguring surgeries.
Market key trends:
The rising popularity of teletherapy as a treatment option for skin cancer is fueling market growth. Teletherapy uses radiation therapy to treat cancer from a distance and doesn't require patients to physically visit a radiation oncology clinic on a daily basis. This provides convenience to patients especially for those in remote areas facing lack of access to specialized cancer care centers. In addition, teletherapy reduces time spent by both patients and medical staff on daily transportation to therapy sites and waiting at clinics. It is also more cost-effective compared to conventional radiation therapy given the reduced need for physical infrastructure. Furthermore, rising prevalence of skin cancer due to increased exposure to ultraviolet radiation is another key trend spurring demand for skin cancer drugs across the globe.
Segment Analysis
The global skin cancer drugs market is segmented based on therapeutics, and distribution channel. Based on therapeutics, the market is segmented into Basal Cell Carcinoma (BCC), Squamous Cell Carcinoma (SCC) and Melanoma. Melanoma holds the largest share in the market and is expected to remain the dominant segment over the forecast period due to high prevalence rate of malignant melanoma across the globe. Melanoma accounts for over 75% of skin cancer deaths.
Key Takeaways
The Global Skin Cancer Drugs Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing incidence of skin cancer across the world.
Regional analysis North America holds the largest market share currently and is expected to dominate the market over the forecast period. This is attributed to factors such as higher healthcare spending, increasing awareness about early detection and treatment of skin cancer. Asia Pacific region is anticipated to register fastest growth rate over the forecast period owing to large patient pool, rising medical tourism industry and improved access to healthcare.
Key players operating in the skin cancer drugs market are Novartis, Merck, Roche, Amgen, Pfizer, Sun Pharma, Bristol-Myers Squibb, AstraZeneca, Johnson & Johnson, Valeant, Daiichi Sankyo, Takeda, LEO Pharma, Mylan, Sanofi, Regeneron, Eli Lilly, Bayer, Gilead Sciences, Astellas Pharma.Key players are focusing on new product launches, partnerships and agreements to gain maximum market share. For instance, in 2022, Sun Pharma launched Oncoval, a novel cancer combination drug for treating metastatic melanoma.
A recent report published by TheBusinessResearchCompany on Skin Cancer Drugs Market provides in-depth analysis of segments and sub-segments in the global as well as regional.The Skin Cancer Drugs Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global skin cancer drugs market.
The report covers the skin cancer drugs market’s segments- actinic keratosis (AK), basal cell carcinoma (BCC), squamous cell carcinoma (SCC), melanoma, hospitals, cancer research centers, clinics, chemotherapy, immunotherapy, targeted agents & other drugs.Skin Cancer Drugs Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.It covers all the regions, key developed countries and major emerging markets.
It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Companies in the skin cancer market are increasingly looking for strategic alliances with other companies in the market.
