Basal Cell Carcinoma Treatment Market - Growth, Trends, and Forecasts (2023 - 2028)

The basal cell carcinoma treatment market is anticipated to grow with a CAGR of 9.3% during the forecast period. The major factors attributing to the growth of the market are the increasing prevalence of skin malignancies, rise in various environmental factors, which leads to more UV exposure and increasing geriatric population who are more susceptible to skin diseases.

According to the Skin Cancer Foundation, about 90% of nonmelanoma skin cancers are correlated with exposure to ultraviolet radiation, and Basal cell carcinoma is the most common form of skin cancer. It is estimated that 4.3 million cases of BCC are diagnosed in United States every year. However, high susceptibility of basal cell carcinoma to remain under-diagnosed and the high cost of the treatment are the constraints to the growth of the market.

Key Market Trends

Surgery for Basal Cell Carcinoma is Expected to be the Fastest Growing Segment

The most common method used for the treatment of basal cell carcinoma is surgical excision. In this procedure, the surgeon cuts out the cancerous lesion and a surrounding margin of healthy skin. The surplus is inspected under a microscope to be sure there are no cancer cells. Excision might be recommended for basal cell carcinomas that are less likely to recur, such as those that form on the chest, back, hands, and feet.

Surgical excision has established to be more efficient due to its lowest possible recurrence rates, maximum cure rates, and top cosmetic results among all the treatment approach for basal cell carcinoma, leading to their high demand. It is expected that surgical excision to remain dominant over the next few years, confirming the dominance of the surgical segment.

According to the American Academy of Dermatology, it is expected that 95,830 noninvasive melanoma cases will be diagnosed in United States in 2019, which pushes the growth of the market further.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall basal cell carcinoma treatment market, throughout the forecast period. This is due to the factors such as the rising incidence of geriatric population, rising awareness of advanced treatments, favorable reimbursement scenario, high prevalence of basal cell carcinoma in this region.

In the North America region, United States holds the largest market share due to factors such as an increasing number of geriatric populations, along with a growing number of basal cell carcinoma in the country, is anticipated to stimulate the demand in this region. According to the American Academy of Dermatology, it is estimated that approximately 9,500 people in United States are diagnosed with skin malignancies every day. Thus, rising cases of the skin malignacies expected propel the growth of the market.

Competitive Landscape

The Basal Cell Carcinoma Treatment market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Merck & Co. Inc., Bausch Health Companies, F. Hoffmann-La Roche Ltd., Mylan N.V., Sun Pharmaceuticals Ltd., Allergan Inc., Perrigo Company plc, Strides Arcolab Ltd.

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