Melanoma Drugs Market

Melanoma Drugs Market Size

[170+ Pages Research Report] to surpass USD 18.2 billion by 2032 from USD 5.72 billion in 2021 at a CAGR of 11.1% throughout the forecast period 2022-32

Melanoma Drugs are the treatment for Melanoma disease, the most aggressive cancer among others. The Food and Drug Administration (FDA) has so far approved four medications for melanoma (dacarbazine, interleukin-2, ipilimumab, and vemurafenib). Few new medications, despite attempts to create them, have shown any clinical benefits. Although ipilimumab and vemurafenib have generated a lot of interest over the past several years, dacarbazine, which was approved in 1975, continues to be the gold standard in chemotherapy. Better clinical outcomes for individuals with metastatic melanoma may be attained by combining dacarbazine or other chemotherapeutic drugs with novel pharmacological agents. However, the most effective treatment for melanoma will depend on the size and stage, the general health of the patient, and particular preferences.

Market Highlights

The Melanoma Drugs Market is expected to project a notable CAGR of 11.1% in 2032.

Melanoma Drugs Market to surpass USD 18.2 billion by 2032 from USD 5.72 billion in 2021 at a CAGR of 11.1% in the coming years, i.e., 2022-32. The rising incidence of melanoma skin cancer diagnoses and the increased survival rates offered by these treatments are the main factors propelling the growth of the global Melanoma Drugs Market. Moreover, the market is being driven by rising awareness of melanoma early detection and treatment, as well as the availability of cutting-edge therapies.

Figure - Market Analysis of Melanoma Drugs Market

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Melanoma Drugs Market: Segments

The Targeted Therapy segment is expected to grow with a higher CAGR during 2022-32

Melanoma Drugs Market is categorized on the basis of Therapy into Chemotherapy, Immunotherapy, Targeted Therapy, and Radiation Therapy. In the past years, the immunotherapy segment accounted for the majority of the Melanoma Drugs Market. This is due to an increase in pharmacological approvals and the efficiency of immunotherapy-related medications. Owing to the advantages including fewer side effects and greater efficacy of targeted therapy medications, the targeted therapy market is predicted to expand at a profitable CAGR. For the treatment of patients who cannot be cured by intense cytotoxic chemotherapy, advances in genetics have paved the way for the creation of targeted cancer medicines.

The Hospitals segment is expected to grow with a higher CAGR during 2022-32

Melanoma Drugs Market is categorized on the basis of Application into Hospitals, Clinics, and Others. With a larger market share, the Hospital Segment dominated the Global Melanoma Drugs Market in the previous years and is expected to continue its dominance during the forecast period. The sophisticated and advanced technologies and techniques available at hospitals to treat patients quickly and efficiently and give them a greater survival rate are credited with the growth of hospital segments.

Figure - Market Analysis of Global Melanoma Drugs

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Market Dynamics

Growth Drivers

The Growing Number of Melanoma Skin Cancer Patients

The rising number of people worldwide affected by melanoma skin cancer is the main reason behind the expansion of the global Melanoma Drugs Market. These medications offer treatment in various combinations that are tailored based on the severity of the cancer and offer a higher probability of survival. The most common treatments for this condition are chemotherapy and immunotherapy; recently, however, more people with melanoma skin cancer have made chemotherapy a more popular option. These factors are fueling the global Melanoma Drugs Market.

Growing Cases of Different Types of Skin Cancers and Increasing Demand for Cost-Effective Therapeutics

Drug companies have a chance to increase their market share in emerging nations due to the high prevalence of skin allergies, melanoma, and other skin cancer forms. Leading businesses are inspired to manufacture cost-effective and highly potent medicines due to the growing demand for reasonably-priced therapies in developing nations of the Asia Pacific and the Middle East and Africa. In the upcoming years, it is anticipated that these factors will support the market's overall growth.

Restraint

High Costs of Melanoma Treatment and Associated Side Effects

Skin malignancies with melanoma require expensive treatment. Many people across the globe cannot afford the several cycles of chemotherapy, tests, medicines, and procedures needed to treat melanoma skin cancer since even one cycle of therapy is highly expensive. This is a significant factor hindering the growth of the global Melanoma Drugs Market. Moreover, the associated adverse effects, such as weight loss, anemia, hair loss, fatigue, susceptibility to infections, change in taste, sour mouth, and others, are significantly impeding the growth of the global melanoma drugs market.

Recent Developments

• To increase the scope of its immuno-oncology pipeline, Bristol-Myers Squibb Company purchased Cormorant Pharmaceuticals in July 2016.
• In 2013, the Indian government gave its approval for the creation of State Cancer Institutes and Tertiary Care Cancer Centers, which drove the regional market to a major extent.

Melanoma Drugs Market: Key Players

• Novartis

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Roche Holding AG
• GlaxoSmithKline
• Pfizer
• Merck Group
• Bristol Myers Squibb (BMY)
• Amgen
• Genentech
• Eisai Co. Ltd.
• Janssen Biotech
• BeiGene Ltd.
• Iovance Biotherapeutics
• AB Science
• Grand Pharmaceutical (China) Co. and Ltd
• Navidea Biopharmaceuticals
• Other Prominent Players

Melanoma Drugs Market: Region

Melanoma Drugs Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. With a larger market share in previous years, North America region has dominated the global Melanoma Drugs Market. The trend is expected to continue during the projected period as well. The high rate of melanoma skin cancer diagnoses and the presence of the most sophisticated healthcare system in the world are credited with this region's growth.

Latin America is also anticipated to account for a sizeable portion of the market due to the expanding melanoma prevalence in the region, rising awareness of melanoma diagnostic and treatment options, and rising healthcare spending.

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Impact of Covid-19 on the Melanoma Drugs Market

Governments from all across the world collaborated with pharmaceutical and biotech businesses to combat the COVID-19 outbreak, from assisting in the creation of vaccinations to preparing for problems with the supply of medicines. Due to the lack of medications in many industrialized nations, the increased demand for medications has created enormous potential for producers of COVID-19 management therapies. In light of this, the pharmaceutical and biotechnology sector is anticipated to experience rapid expansion in the next years due to the need for COVID-19 vaccines and medications. The Melanoma Drugs Market is then predicted to be significantly impacted by this.

Melanoma Drugs Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Melanoma Drugs Market report also contains analysis on:

Melanoma Drugs Market Segments:

• By Therapy 
  • Chemotherapy
  • Immunotherapy
  • Targeted Therapy
  • Radiation Therapy
• By Application
  • Hospitals
  • Clinics
  • Others 
• Melanoma Drugs Market Dynamics
• Melanoma Drugs Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Melanoma Drugs Market Report Scope and Segmentation

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