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Melanoma Therapeutics Market Estimated to Experience a Hike in Growth by 2021

Press Release   •   Feb 22, 2017 01:24 EST

The market for skin diseases and treatment are increasing significantly due to the rising prevalence of skin disorders such as skin cancer, skin infections, and skin allergies. Skin cancer may be of three types: basal cell carcinoma, squamous cell carcinoma, and melanoma. Melanoma refers to the type of skin cancer which forms from pigment-containing cells in the skin. It is more common in locations with a sunny climate and is most serious of all skin cancers. UV radiations are the primary causes of melanoma. However, genes can also cause melanoma. Treatments available for melanoma include surgery, radiation therapy, and pharmacotherapy. Adjuvant therapy, immunotherapy, and chemotherapy are the different types of therapies available in the market. The global market for melanoma therapeutics is increasing at a significant rate due to increase in the prevalence of melanoma and improvement in healthcare facilities. Moreover, government initiatives and technical advancements boost growth of the melanoma therapeutics market.

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North America dominates the global market for melanoma therapeutics due to increasing prevalence on melanoma and technical advancements in the region . In addition, increased awareness regarding the treatment of melanoma and improved healthcare facilities further drive the North American market for melanoma therapeutics. The Asia melanoma therapeutics market is expected to witness high growth rate in the next few years followed by Europe. China and India are expected to be the fastest-growing melanoma therapeutics markets in Asia due to a large population base and increasing prevalence of melanoma in these countries. Some of the key driving factors of the melanoma therapeutics market in emerging countries are increasing awareness and improved healthcare facilities.

Factors such as increased awareness, technological advancements, and high adoption rate of this therapeutics among patients have driven the global melanoma therapeutics market . In addition, government initiatives have driven the market for melanoma therapeutics. However, factors such as lack of awareness in some developing regions and high cost associated with the therapy are restraining growth of the global melanoma therapeutics market. Moreover, economic crisis and regulatory issues are restraining the melanoma therapeutics market from growing.

Growing population and economies in the developing countries such as India and China are expected to create substantial opportunities for the global melanoma therapeutics market. Innovation of medicines with better efficiency is expected to create substantial opportunities for the global melanoma therapeutics market. Availability of new drugs, with more efficacies, in the pipeline is expected to offer good opportunities for the global market for melanoma therapeutics.

However, reluctance among people to undergo therapies and surgeries is one of the major restraints for growth of the global melanoma therapeutics market. One of the latest trends in the global melanoma therapeutics is adoption of combination therapies.

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Some of the major companies in the global market for melanoma therapeutics are Bristol-Myers Squibb Co., Merck and Co., Inc., and F. Hoffmann-La Roche, Ltd. Some other companies with significant presence in the global market for melanoma therapeutics are AB Science S.A., Amgen, Inc., Celgene Corp., Daiichi Sankyo Co., Eisai Co., Ltd., GlaxoSmithKline, plc., Pfizer, Inc., and Vical, Inc.

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