PUBLISHER: DataM Intelligence | PRODUCT CODE: 1043580
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1043580
The Global Skin Cancer Drugs Market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Skin Cancer Drugs is the most common type of cancer caused due to abnormal growth of skin cells. It is estimated that 90% of skin cancer drugs is caused majorly due to solar and artificial ultraviolet radiation (UV). The drug's use for the treatment of skin cancer is called skin cancer drugs. There are many drugs available in the market for the treatment of skin cancer.
The global skin cancer drugs market growth is driven by the increasing incidence of skin cancer, extensive R&D pipelines, and rising awareness about skin cancer.
Strong emerging pipeline for the treatment of skin cancer will drive the market growth
Strong emerging pipeline for skin cancer drugs is expected to drive the market over the forecast period. Merck & Co, Inc, announced its phase 3 KEYNOTE-716 (NCT03553836) trial investigating pembrolizumab (Keytruda) has met its primary end point of recurrence-free survival (RFS) for the treatment of patients with surgically removed stage II melanomas. Based on that data, the FDA has accepted a new supplemental biologics license application (sBLA) for pembrolizumab to treat patients 12 aged years or older with stage IIB or IIC melanoma following removal and has set a Prescription Drug User Fee Act (PDUFA).
The FDA has given fast track designation for nemvaleukin alfa an investigational engineered interleukin (IL) variant immunotherapy, for the treatment of mucosal melanoma. This comes after the FDA granted orphan drug designation to nemvaleukin alfa for the treatment of mucosal melanoma. Thus many drugs for the treatment of skin cancer is approved by FDA.
This will lead to the introduction of novel drugs that will transform this previous stagnant market and will improve treatment options for patients. Mainly, treatment strategies for specific patient subsets have shifted towards more-targeted treatments. Evidence from late-stage melanoma pipeline indicates that this trend is going to continue. Research and development have gained a lot of attention in the past few decades of skin cancer treatment due to rapidly increasing incident cases. More numbers of clinical trials have been investigated to find an effective therapeutics with high safety and efficacy levels.
Some more recent drug approvals like the targeted therapies Tafin that was also approved for BRAF-positive melanoma, and immune checkpoint inhibitors Keytruda (pembrolizumab) and Opdivo (nivolumab). Amplimexon of Amplimed is phase 2 stage of development. Aside from Onxeo is in phase 1 clinical trials. Other products like Trilexium of Kazia is preclinically developed now. These factors will drive the growth of the market in the forecast period.
Complications related to chemotherapy is likely to hamper the market growth
However, chemotherapy drugs use in the treatment of skin cancer can treats the disease effectively. But like other treatments, it often causes side effects. The side effects of chemotherapy are different for each person. They depend on the type of cancer, location, drugs and dose, and general health. But because these drugs travel throughout the body, they can affect normal, healthy cells that are fast-growing, too. Damage to healthy cells causes side effects.
The COVID-19 pandemic has negatively impacted healthcare systems globally and majorly on the skin cancer drugs market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types including skin cancer. According to the Centers for Disease Control and Prevention (CDC) and many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, be postponed unless the risks outweighed the benefits and secure the hospital infrastructure for the treatment of COVID-19 patients. Thus, the COVID-19 pandemic has impacted the skin cancer drugs market.
Non-melanoma segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Non-melanoma is expected to hold a significant market share in the cancer type. Currently, around 2-3 million non-melanoma skin cancers and 132,000 melanoma skin cancers occur globally each year. According to the World Cancer Research Fund International, in 2018, non-melanoma skin cancer is the fifth most commonly occurring cancer in people, with over one million diagnosis worldwide. Thus, it is the most common malignancy in the United States, with substantial associated morbidity and cost, as well as relatively small but significant mortality.
According to Cancer Research UK, there are around 147,000 new non-melanoma skin cancer cases in the United Kingdom every year, which is more than 400 every day (2014-2016). In 2016, around 67,700 new cases in females and 88,700 new cases in males have been registered.
Treatment for non-melanoma skin cancer is usually successful, as unlike the other types of cancer, there's a significantly lower risk that the cancer will spread to other parts of the body. Treatment for non-melanoma skin cancer is completely successful in approximately 90% of cases. Hence, the increasing rates of the non-melanoma skin cancer and its successful rates after treatment will drive the growth of the market in the forecast period.
North America region holds the largest market share of global skin cancer drugs market
North America is expected to dominate the market in the forecast period. As per the American Academy of Dermatology, skin cancer is the most common cancer in the United States. Most cases of melanoma, the deadliest kind of skin cancer, are caused by exposure to ultraviolet (UV) light. It is estimated that approximately 9,500 people in the United States are diagnosed with skin cancer every day. Furthermore, as per the estimates of the American Cancer Society, in 2018, there were around 91,270 new cases of melanoma in the United States, and approximately 9,320 deaths due to this disease.
Furthermore, an increase in awareness about the treatment of melanoma and improved healthcare facilities and infrastructure drives the market. In July 2014, the Office of the Surgeon General released The Surgeon General's Call to Action to Prevent Skin Cancer, establishing skin cancer prevention as a high priority for our nation. The Call to Action described prevention strategies that work and called on all community sectors to address skin cancer as a major public health problem. Since the release of the Call to Action, a growing community of partners at the national, state, and local levels has taken great strides to help prevent skin cancer in the United States. These factors are driving the growth of skin cancer drugs market in the forecast period.
The skin cancer drugs market is highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Amgen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Sanofi S.A., Merck & Co., Inc., Novartis AG, Sun Pharmaceutical Industries Ltd, Daiichi Sankyo Co., GlaxoSmithKline among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Skin Cancer Drugs Market globally. For instance, in January 2019, Merck's KEYTRUDA (pembrolizumab) received five new approvals in Japan, including adjuvant therapy for melanoma.
Amgen Inc. is an independent biotechnology medicines company that discovers, develops, manufactures, and markets medicines for grievous illnesses. The Company focuses on human therapeutics and concentrates on innovating novel medicines based on cellular and molecular biology.
IMLYGIC: IMLYGIC (talimogene laherparepvec) is a prescription medication used to treat a type of skin cancer called melanoma when it is on skin or in lymph glands.
The global skin cancer drugs Market report would provide an access to an approximately 40+ market data table, 45+ figures and 180 pages.
Global Skin Cancer Drugs Market- By Cancer Type
Basal cell carcinoma
Squamous cell carcinoma.
Merkel cell cancer
Global Skin Cancer Drugs Market- By Drug Class
Global Skin Cancer Drugs Market- By End-User
Global Skin Cancer Drugs Market- By Region
LIST NOT EXHAUSTIVE