Melanoma Treatment Market Analysis
Melanoma Treatment Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018 – 2026
Melanoma is a type of skin cancer that develops from the pigment cells known as melanocytes. It is caused due to high exposure to ultraviolet rays, which leads to sunburn, especially at high altitudes. Melanoma is categorized into three: cutaneous, mucosal, and ocular. Cutaneous affects the skin, mucosal affects the mucous membrane in the mouth and nasal passage, and ocular affects the eye. However, early detection of melanoma helps in the treatment and increase survival rates. According to the American Academy of Dermatology 2015 report, the prevalence of melanoma is increasing and spreads to other body parts as well. As it spreads to other body parts, its treatment becomes much more complex. The rare genetic conditions such as xeroderma pigmentosum also increase the risk of melanoma and it is diagnosed with the biopsy of any skin lesion.
Melanoma Treatment Market Taxonomy:
The global melanoma treatment market is segmented as follows;
By Melanoma Type;
Development of new drugs fuels the melanoma treatment market
Several drugs in the market have already received FDA approval for melanoma treatment and some are under development. Drugs such as seviprotimut-L by Polynoma’s, talimogene laherparepvec (T-VEC) by Amgen Inc., and zelboraf, by Roche and Genetech together for the treatment of cutaneous melanoma are under development. Selumetinib is under development by AstraZeneca for the treatment of ocular melanoma. In 2011, Yervoy, a monoclonal antibody drug was developed by Bristol-Myers Squibb for the treatment of melanoma and it is the first drug to receive FDA approval. Immunotherapy drugs include opdivo and keytruda, which got FDA approval and created new opportunities in melanoma treatment market. When chemotherapy fails to deliver results, targeted therapy is used, which include BRAF inhibitors. Targeted therapy has limited side effects in comparison with chemotherapy. According to Cancer Research Institute, in 2016, there were around 76,000 people diagnosed with melanoma in the U.S. The development of novel drugs and combination therapy with limited side effects and better survival rates is expected to fuel the melanoma treatment market growth. The increased focus on personalized medicine with a huge investment in anti-melanoma drugs is expected to create new opportunities in near future. However, high price of combination therapies and clinical trial with side effects act as restraints for the melanoma treatment market.
Developed regions support the growth of melanoma treatment market
Melanoma treatment market, based on geography, is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the melanoma treatment market due to the high prevalence of melanoma in the region along with well-developed healthcare facilities and increased research and development on melanoma drugs. Moreover, reimbursement policy and increase in per capita income are expected to fuel the melanoma treatment market. Europe is the second largest market and is expected to grow significantly in near future due to increase in melanoma cases and development of novel therapies. Asia Pacific is expected to exhibit moderate growth due to fewer cases of skin cancer, lack of awareness, and high cost of melanoma drugs.
Key Players in the Global Melanoma Treatment Market
Some of the key players identified across the value chain of global melanoma treatment market are Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Genetech Inc., Novartis AG, Polynoma LLC, AstraZeneca, Amgen Inc., Sanofi, Merck & Co. Inc., and Takeda Pharmaceutical Company.