The latest report on Melanoma Drug Market (by type of melanoma (superficial spreading melanoma, nodular melanoma, lentigo maligna melanoma, acral lentiginous melanoma), therapy (immunotherapy, chemotherapy, targeted therapy)) provides complete and deep insights into the market dynamics and growth of melanoma drug industry. Latest information on market risks, industry chain structure melanoma drug cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential melanoma drug growth factors. 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.
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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 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 are 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.
Increasing Number of Melanoma Cases act as a Major Driver for the Growth of the Melanoma Drugs Industry
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.
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North America Held the Dominant Share 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 drugs market. The incidence of malignant melanoma is increasing at a significant rate in many European countries. In Asia- Pacific, the improving healthcare services are expected to enhance the growth of the global melanoma drugs market.
Market Segments of Global Melanoma Drug Industry
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.
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Key Players in the Melanoma Drug Market
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.
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- Comprehensive analysis of global as well as regional markets of the melanoma drug.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.