Melanoma Therapeutics Market Is Predicted To Grow Swiftly Due To Rising Incidence Of Melanoma And Other Skin Cancers Till 2025: Grand View Research, Inc.
The global melanoma therapeutics market is expected to reach
USD 12.4 billion by 2025, according to a new report by Grand View Research,
Inc. Increasing incidence of chronic diseases such as melanoma, skin cancer,
and skin allergies is an important driver of the market.
According to 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 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 include Opdivo, Yervoy, Cotellic, Zelboraf,
Keytruda, Mekinist, Tafinlar, and Imlygic.
Companies are undertaking various
R&D activities to find new indications for existing products and
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 treatment of non-small cell lung cancer.
Furthermore, many pharmaceutical
companies in the U.S., Europe, and Asia Pacific are focusing on 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. Approval of
novel products over the forecast period is anticipated to boost market growth.
U.S. melanoma therapeutics
market revenue by therapy, 2014 - 2025 (USD million)
Browse full research report on
Melanoma Therapeutics Market
Further key findings from the
report suggest:
- Targeted
therapy segment is expected to show lucrative growth owing to benefits
such as low adverse effects and higher efficiency
- Branded drugs
held a dominant share of the industry because of patent exclusivity
- Biologics,
such as Opdivo and Cotellic, are expected to exhibit lucrative growth over
the forecast period owing to increase adoption and advantages such
improved therapeutic effects
- The patent
for Yervoy will expire in 2022 in the U.S. and in 2020 in Europe. This is
expected to provide growth opportunities for new market entrants
- Asia Pacific
is expected to exhibit lucrative CAGR over the forecast period
- Key market
players are increasing R&D efforts for discovery and development of
novel drugs for the treatment of melanoma
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring relevant
and fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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