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Skin Cancer Drugs Market To Reach USD 19.96 Million By Year 2032

The Skin Cancer Drugs market was worth USD 9.5 Billion in 2023. As such, the forecast is that the market is expected to reach USD 19.96 Billion by 2032 with a CAGR of 9.6% over the period from 2024 to 2032.

27-05-2024
shashidhar kotian
Healthcare
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence, titled, “Skin Cancer Drug Market by Drug Class, Cancer Type, Route of Administration, and Distribution channel.: Opportunity Analysis and Industry Forecast, 2024–2032,” The Skin Cancer Drugs market was worth USD 9.5 Billion in 2023. As such, the forecast is that the market is expected to reach USD 19.96 Billion by 2032 with a CAGR of 9.6% over the period from 2024 to 2032. Skin cancer drugs are medications used to treat various types of skin cancer, including basal cell carcinoma, squamous cell carcinoma, and melanoma. These drugs can be categorized based on their mechanisms of action and the specific types of skin cancer they target.

The skin cancer drugs market is experiencing significant growth, driven by the rising incidence of skin cancer globally, advancements in drug development, and increasing awareness of early diagnosis and treatment options. The market is primarily segmented into melanoma and non-melanoma skin cancers, with melanoma representing the more aggressive and lethal form. Key drivers include the aging population, heightened exposure to ultraviolet (UV) radiation, and a growing prevalence of tanning bed usage.

Immunotherapy and targeted therapy have revolutionized the treatment landscape for skin cancer. Immunotherapy drugs, such as checkpoint inhibitors (e.g., pembrolizumab and nivolumab), enhance the body’s immune response against cancer cells. Targeted therapies, like BRAF inhibitors (e.g., vemurafenib) and MEK inhibitors (e.g., trametinib), specifically target genetic mutations in melanoma cells, providing a more personalized treatment approach. Additionally, combination therapies that integrate both immunotherapy and targeted treatments are gaining traction due to their enhanced efficacy.

Melanoma, in particular, has witnessed a steady rise in its prevalence, making it a major concern for healthcare systems worldwide. This aggressive form of skin cancer has a high potential for metastasis if not detected and treated early. Consequently, there is a growing demand for effective treatments and therapies to combat melanoma and other forms of skin cancer.

The advancements in medical research and technology have led to the development of novel drugs and treatment modalities for skin cancer. Targeted therapies, immunotherapies, and combination therapies have emerged as promising approaches in the management of skin cancer, offering better outcomes and improved survival rates for patients.

The expansion of treatment options is advancements in medical research and technology. Breakthroughs in understanding the molecular mechanisms underlying skin cancer have led to the development of targeted therapies and immunotherapies. These treatments aim to selectively target cancer cells while minimizing damage to healthy tissue, offering improved efficacy and reduced side effects compared to traditional chemotherapy.

 Skin Cancer Drug Market, Segmentation

The Skin Cancer Drug market is segmented based on Drug Class, Cancer Type, Route of Administration, and Distribution channel.

Drug Class:

The Drug Class segment is further classified as Chemotherapy Drugs, Immunotherapy Drugs Targeted Therapy Drugs. Among these, the Chemotherapy Drugs sub-segment accounted for the highest market share. Chemotherapy drugs remain a cornerstone in the treatment of various cancers, including skin cancer. Within the broader category of skin cancer drugs, chemotherapy drugs play a significant role, often dominating the market due to their effectiveness in targeting rapidly dividing cancer cells. This dominance stems from several key factors. Chemotherapy drugs are versatile in their application across different types and stages of skin cancer. Whether it's basal cell carcinoma, squamous cell carcinoma, or melanoma, chemotherapy drugs can be adapted to target the specific characteristics of each cancer type.

Cancer Type:

The Cancer Type segment is further classified into Melanoma and non-melanoma. The Melanoma segment sub-segment accounted for the highest market share. Melanoma has historically been one of the most aggressive forms of skin cancer, often metastasizing to other parts of the body and presenting a significant challenge for treatment. However, targeted therapy drugs have shown remarkable efficacy in specifically targeting the genetic mutations driving melanoma growth, such as BRAF and MEK mutations. Drugs like vemurafenib, dabrafenib, and trametinib have demonstrated impressive response rates and survival benefits in patients with these mutations, leading to their widespread adoption in clinical practice.

Region:

North America dominates the global skin cancer drug market due to several key factors. The region boasts a high prevalence of skin cancer, particularly melanoma, which drives demand for effective treatments. The American Cancer Society estimates over 100,000 new melanoma cases annually in the United States alone. This high incidence necessitates robust medical responses, fostering a conducive environment for market growth.

Some of The Leading/Active Market Players Are-

  • Novartis (Switzerland)
  • Bristol Myers Squibb (USA)
  • Merck & Co., Inc. (USA)
  • Roche (Switzerland)
  • Pfizer Inc. (USA)
  • AstraZeneca (UK)
  • GlaxoSmithKline (UK)
  • Amgen (USA)
  • Celgene Corporation (USA)
  • Johnson & Johnson (USA)
  • Eisai Co., Ltd. (Japan)
  • Ipsen (France)
  • Takeda Pharmaceutical Company Limited (Japan)
  • AbbVie Inc. (USA)
  • Sanofi (France)
  • Bayer AG (Germany)
  • Sun Pharmaceutical Industries Ltd. (India)
  • Teva Pharmaceutical Industries Ltd. (Israel)
  • Mylan N.V. (USA), and Other Active Players

Key Industry Developments

  • In April 2024, Novartis announced that the U.S. Food and Drug Administration (FDA) approved Lutathera (USAN: lutetium Lu 177 dotatate / INN: lutetium (177Lu) oxo octreotide) for the treatment of pediatric patients 12 years and older with somatostatin receptor-positive (SSTR+) gastroenteropancreatic neuroendocrine tumors (GEP-NETs), including foregut, midgut, and hindgut NETs. This approval makes Lutathera the first therapy specifically reviewed and approved for use in pediatric patients with GEP-NETs.
  • In March 2023: Incyte announced that the U.S. Food and Drug Administration (FDA) has approved Zynyz™ (retifanlimab-dlwr), a humanized monoclonal antibody targeting programmed death receptor-1 (PD-1), for the treatment of adults with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC). The Biologics License Application (BLA) for Zynyz for this indication has been approved under accelerated approval by the U.S. FDA based on tumor response rate and duration of response (DOR). Continued approval of Zynyz for this indication may be contingent on verification and description of clinical benefit in confirmatory trials.

 Key Findings of the Study 

  • The melanoma segment holds the largest market share within the cancer type classification. Melanoma, being the most aggressive and lethal form of skin cancer, has seen significant advancements in treatment, particularly through targeted therapies like BRAF and MEK inhibitors (e.g., vemurafenib and trametinib), which have improved patient outcomes and survival rates.
  • North America, particularly the United States, leads the global skin cancer drug market. This dominance is driven by a high prevalence of skin cancer, especially melanoma, which necessitates advanced and effective treatment options. The region's well-established healthcare infrastructure, significant investment in medical research, and high awareness levels contribute to its market leadership. The American Cancer Society's estimates of over 100,000 new melanoma cases annually underscore the substantial demand for innovative skin cancer therapies.
Pristine Intelligence LLP

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