PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1123109
PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1123109
Global Skin Cancer Diagnosis and Therapeutics Market Research By Type (Melanoma and Non-Melanoma), By Therapy (Surgery treatment, Radiotherapy, Chemotherapy, Targeted therapy, Immunotherapy, and Others), By Diagnosis (Dermatoscopy, Biopsy, Blood test, X-rays, and Others), Forecast, 2021-2027
The global skin cancer diagnosis and therapeutics market are growing at a considerable CAGR of around 7.5% during the forecast period. The factor driving the growth of the market include the prevalence of skin cancer, rising incidence of skin cancer, increasing R&D pipelines. The risk factors for skin cancer include sunlamps and tanning booths, sunlight, and certain medical conditions. As per the American Cancer Society exposure to the sun is the most unavoidable risk factor for all skin cancers. According to (World Health Organization) WHO, it is estimated that more than 1,20 million people across the globe are diagnosed with non-melanoma cancer in 2021. According to the estimates of the Skin Cancer Foundation, one in every five Americans is likely to be diagnosed with a kind of skin cancer during their lifetime.
Furthermore, other factors such as government initiatives, advancement of immunotherapies, and the addition of current therapies are driving the growth of the global skin cancer diagnosis and therapeutics market. Moreover, the high cost of skin cancer therapy even with the major technological benefits in the field of cancer treatment, the cost of therapies remains high. Additionally, a strict regulatory environment and the lack of awareness about the disease and its progression is another factor that hinders market growth. However, The Side effect of radiation therapy is skin irritation in the area of the body that is being treated. There are also long-term side effects such as lung problems, and changes in skin color, which hamper the growth of the market.
Impact of COVID-19 on the Skin Cancer Diagnosis and Therapeutics Market
The global skin cancer diagnosis and therapeutics market are hardly hit by the outbreak of COVID-19 since December 2019. The market is financially affected by the COVID-19. Due to the COVID-19 pandemic the skin cancer patients experience temporary delays in getting treatment and diagnosis. However, The increasing concern of skin cancer is likely to uplift the market during the forecast period.
The market is segmented based on type, therapy, and diagnosis. Based on type the market is segmented into melanoma and non-melanoma. Based on therapy the market is segmented into surgery treatment, radiotherapy, chemotherapy, targeted therapy, immunotherapy, and others. Based on diagnosis the market is segmented into dermatoscopy, biopsy, blood test, X-Rays, and others.
Global Skin Cancer Diagnosis and Therapeutics Market Share by Type, 2020 (%)
Global Skin Cancer Diagnosis and Therapeutics Market Share by Type
The Non-Melanoma segment projected to dominate the global skin cancer diagnosis & therapeutics market
Based on the skin cancer type, non-melanoma is a primarily driven segment due to the increasing cases of non-melanoma skin cancer. According to WHO (World Health Organization), it is estimated that more than 1,20 million cases people across the globe are diagnosed with non-melanoma cancer in 2021. Canadian Cancer Society (CCS) states that non-melanoma skin cancer is the most communal cancer detected among Canadians. Around 80% of non-melanoma skin cancer is basal cell carcinoma. Additionally, The treatment for non-melanoma skin cancer is frequently effective as compared to the other type of cancer. Non- melanoma cancer has a low risk to spread to the other part of the body. In around 90% of cases, the treatment is effective. Hence the success rates after the treatment of non-melanoma skin cancer have driven the growth of the market.
The global skin cancer diagnosis and therapeutics market are analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global skin cancer diagnosis and therapeutics market. Some factors are boosting the market growth in the region. According to the American Academy of Dermatology, Skin cancer is one of the most common cancer in the US and Canada. An estimated 106,110 new cases of invasive melanoma and 101,280 cases of in situ melanoma will be diagnosed in the US in 2021. It is projected that around 9,500 people in the US are diagnosed with skin cancer every day. The rising cases of skin cancer in the region is the main factor driving the growth of the market.
Global Skin Cancer Diagnosis and Therapeutics Market, by Region 2021-2027
Global Skin Cancer Diagnosis and Therapeutics Market, by Region
Asia-Pacific will Have Considerable Growth in the Global Skin Cancer Diagnosis and Therapeutics Market
Asia-Pacific is expected to witness significant growth in the global skin cancer diagnosis and therapeutics market. The market is increasing due to the prevalence of skin cancer disease, and the large population base in the region. The Government approval for skin cancer drugs, Increasing health care infrastructure in the region also drives the growth of the market.
Market Player Outlook
The Key players of the global skin cancer diagnosis and therapeutics market include Pfizer Inc., Merck & co. Inc., Bristol Myers Squibb co., Novartis International AG, Sanofi, Bausch Health Companies Inc. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, In July 2020, F. Hoffmann-La Roche Ltd. received approval for Tecentriq plus Cotellic and Zelboraf from the US Food and Drug Administration (FDA) for the treatment of patients having mutation-positive advanced melanoma.
The Report Covers
Market value data analysis of 2020 and forecast to 2027.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global Skin Cancer Diagnosis and Therapeutics market
Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where in the market.