The global Melanoma Therapeutics market size is expected to be worth around US$ 22.4 billion by 2030, according to a new report by Vision Research Reports.
The global Melanoma Therapeutics market size was valued at US$ 14.2 billion in 2020 and is anticipated to grow at a CAGR of 21.21 % during forecast period 2021 to 2030.
Increasing incidence of chronic diseases such as melanoma, skin cancer, and skin allergies is an important driver of the market.
According to the CDC, over 71,943 people were affected by melanoma in 2013. The American Cancer Society estimates that this number will go up to 87,100 in 2017, thus highlighting the need for melanoma drugs over the forecast period.
Increasing number of FDA approvals and the introduction of novel therapeutics with enhanced efficacy are also anticipated to present growth opportunities. Within a period of 6 years, i.e., from 2011 to 2016, around eight biologics have been approved for the treatment of this disease, which includes Opdivo, Yervoy, Cotellic, Zelboraf, Keytruda, Mekinist, Tafinlar, and Imlygic.
Companies are undertaking various R&D activities to find new indications for existing products and the development of innovative molecules. For instance, in September 2014, the U.S. FDA approved patented drug Keytruda (Merck & Co., Inc.) to treat metastatic melanoma, thereby extending the therapeutic application of its product. This drug was initially approved for the treatment of non-small cell lung cancer.
Furthermore, many pharmaceutical companies in the U.S., Europe, and Asia Pacific are focusing on the development of new biologics. For instance, in March 2017, Daiichi Sankyo Company, Limited announced a collaborative drug discovery project—Take a New Challenge for Drug discovery (TaNeDS)—to facilitate new drug development through collaborations. Moreover, it entered into a strategic research collaboration with AgonOX, Inc. to develop new immunotherapy drugs for the immuno-oncology segment. The approval of novel products over the forecast period is anticipated to boost the market growth.
chemotherapy captured around 7% of the therapy segment in terms of revenue. This can be attributed to its high adoption rate in the past few years due to the increasing incidence of cancer, especially skin cancers. Chemotherapy includes a broad range of therapeutics that involve proteins and other synthetically derived products.
Immunotherapy held the largest share of the therapy segment. This can be attributed to the effectiveness of drugs used in immunotherapy and an increase in their approvals. Strong emerging pipeline for melanoma treatment is expected to drive the immunotherapy segment over the forecast period.
Targeted therapy is anticipated to grow at a lucrative CAGR of about 18% owing to benefits such as limited adverse effects and higher efficiency of targeted therapy drugs. Advancements in genomics have led to the development of targeted cancer therapies for the treatment of patients who are incurable by intensive cytotoxic chemotherapy.
The radiation therapy segment is expected to exhibit steady growth over the forecast period owing to the increasing number of advanced melanoma cases and the use of radiation as an adjuvant therapy post-surgery. Radiation therapy is rarely used as a primary treatment. It is only administered to patients in stage 4, who cannot be treated with surgery.
The branded drugs segment held the largest revenue share in 2020 due to patent exclusivity. The presence of a large patient base and higher consumption of biologics are contributing toward its dominance. Moreover, the availability of fewer generics as well as increased adoption of branded drugs in the treatment of melanoma has boosted the growth of the branded drugs segment.
Branded drugs are expected to lose their market share over the forecast period due to the patent expiration of notable brands such as Yervoy and Imlygic. Imlygic is expected to lose its patent protection in 2021, which will result in reduced revenue for Amgen, Inc. Similarly, Yervoy is expected to lose its patent exclusivity in the U.S. in 2022 and in Europe in 2020.
Generics are anticipated to gain momentum over the forecast period for the treatment of melanoma. Generics are cost-effective, easy to develop, and receive approval in lesser time as compared to biologics, and this is expected to fuel the growth of this segment over the forecast period.
There is a strong emerging pipeline of melanoma drugs. Many of these drugs are under clinical trials. For instance, the products of companies such as Celgene Corporation; Eisai Co., Ltd.; Moleculin Biotech, LLC; and Prima BioMed Ltd. are under phase 2 of clinical trials. Similarly, there are several companies focused on developing new therapeutics. These factors are expected to fuel market growth.
North America held a dominant share of the market as of 2020 owing to the rising incidence of melanoma and other skin cancers in the region. According to the CDC, over 71,943 people were affected by melanoma in 2013. As per the American Cancer Society, this number is expected to go up to 87,100 cases in 2017. These statistics highlight the need for drugs that help in the management of melanoma over the coming years.
The U.S. government has developed favorable reimbursement policies for the treatment of these diseases in an attempt to fulfill unmet patient needs. This is expected to provide a healthy platform for growth to the North American market. Furthermore, owing to the patent expiration of biologics in the coming years, numerous new players are expected to enter the market in this region. The existing players are undertaking various strategic initiatives to improve their revenue share. For instance, in July 2016, Bristol-Myers Squibb Company acquired Cormorant Pharmaceuticals to broaden its immuno-oncology pipeline.
The Asia Pacific market is expected to grow at a lucrative rate owing to the constant rise in the incidence of skin cancer coupled with increased demand for cost-efficient therapeutics. Owing to the presence of a large number of clinical research organizations, several pharmaceutical firms are drawn to this region for the production of effective and cheaper drugs.
Furthermore, an increase in government initiatives for improving health care facilities in this region is another factor contributing to market growth. For instance, the Government of India approved the establishment of State Cancer Institutes and Tertiary Care Cancer Centers in the country in 2013, which is expected to boost the regional market to a certain extent.
AstraZeneca; Amgen, Inc.; F. Hoffmann-La Roche Ltd.; Bristol-Myers Squibb Company; Novartis AG; Merck & Co., Inc.; Daiichi Sankyo Company, Limited; and AB Sciences.
The Middle East and Africa
The Melanoma Therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Melanoma Therapeutics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Melanoma Therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Melanoma Therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Melanoma Therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Melanoma Therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Melanoma Therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Melanoma Therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Melanoma Therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Melanoma Therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Melanoma Therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Melanoma Therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Melanoma Therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Melanoma Therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Melanoma Therapeutics market. These factors have benefited the growth of the global market for Melanoma Therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Melanoma Therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Melanoma Therapeutics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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