Melanoma Therapeutics Market is segmented By Stage (Stage 0, Stage I, Stage II, Stage III, Stage IV), By Therapy (Surgery, Immunotherapy, Targeted Therapy, Chemotherapy, Radiation Therapy), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Melanoma Therapeutics Market is projected to grow at a CAGR of 11.43% during the forecast period 2022-2029. Melanoma is one of the serious types of skin cancer that develops from pigment-containing cells called melanocytes. Melanomas typically occur in the skin, but may rarely occur in the mouth, intestines, or eye. In women, the most commonly occur on the legs, while in men they are most common on the back. Moles, brown spots and growths on the skin are found to be the symptoms associated with the disease.

Melanoma Therapeutics Market Dynamics

Melanoma Therapeutics Market growth is driven by the rising prevalence of melanoma, improvement in healthcare facilities, government initiatives, and innovation of medicines with better efficiency.

The high demand for novel early-stage and advanced melanoma therapies will drive the market growth

The high demand for novel early-stage and advanced melanoma therapies along with a booming patient base has created an impending need for better therapies in the melanoma market. Although a plethora of treatment options are available today, several immunotherapies and combination therapies are expected to enter the market. Large uptake of these novel treatments is expected due to their improved survival benefits and minimal side effects. Additionally, the untapped patient populations, especially, in the Europe and U.S. would lead to a higher uptake of novel treatments in the near future. A strong emerging pipeline, rising incidences of melanoma cases the increasing public awareness are the major factors driving the melanoma market. In addition, the growing interest of physicians in novel therapies would fuel the market.

Some of the key branded biologics are getting their patents expired during the period of forecast; this leads to an increase in the entry of biosimilars in the market. For instance, Amgen’s patent for Imlygic is getting expires in 2021, and this is expected to offer opportunities for new biosimilars and the companies manufacturing them and hence driving the growth of the market. There is an increase in the number of FDA approvals and introduction of new drugs within a period of 6 years, from 2011 to 2016. Biologic drugs like OPDIVO, Yervoy, Cotellic, Zelboraf, Keytruda, Mekinist, Tafinlar, and Imlygic have been approved for the treatment of melanoma cancer.

Lack of awareness of the disease will hamper the growth of the market

However, lack of awareness of the disease and high costs associated with the therapy is going to hamper the market growth throughout the forecast.

COVID-19 Impact Analysis

The COVID-19 pandemic has resulted in delays in the diagnosis and treatment of patients with skin cancer, including patient presentational delays, diagnostic referral delays due to diagnostic capacity limitations, and treatment delays due to increased risk of COVID-19 transmission or health policy limitations on treatment capacity. According to an article published in July 2021 titled The impact of the COVID-19 pandemic on a diagnostic delay of skin cancer: a call to restart screening activities, studies from the UK Northern Cancer Network and US dermatology practices reported a significant decrease in skin cancer diagnoses during the lockdown months in 2020. Research conducted by the National Cancer Control Program in Ireland found a drop in skin cancer referrals during the lockdown. In addition, dermatologists from 36 countries estimated that one-fifth (21%) of melanoma cases went misdiagnosed and that one-third of skin check appointments were missed due to the epidemic.

Melanoma Therapeutics Market Segment Analysis

The immune therapy segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Immunotherapy is the use of medicines to stimulate a person’s immune system to recognize and destroy cancer cells effectively. There are several types of immunotherapies available that can be used to treat melanoma cancer. Immunotherapy is found to hold the largest share which can be attributed to the effectiveness of drugs used in immunotherapy and an increase in their approvals. There are currently many FDA-approved immunotherapy options for melanoma that helps in the growth of the market. For instance, in February 2021, the United States Food and Drug Administration has approved the PD-1 inhibitor Libtayo (cemiplimab-rwlc) as the first immunotherapy indicated for patients with advanced basal cell carcinoma (BCC) previously treated with a hedgehog pathway inhibitor (HHI) or for whom an HHI is not appropriate. Libtayo is now approved for patients with advanced stages of the two most common skin cancers in the United States.

Also, in June 2020, the United States Food and Drug Administration approved pembrolizumab (KEYTRUDA, Merck & Co., Inc.) for patients with recurrent or metastatic cutaneous squamous cell carcinoma (cSCC) that is not curable by surgery or radiation. There have also many advances in using immunotherapy drugs known as checkpoint inhibitors to treat melanoma. Thus the strong emerging pipeline for melanoma treatment is expected to drive the immunotherapy segment over the forecast period.

Melanoma Therapeutics Market

Metrics	Details
Market CAGR	11.43%
Segments Covered	By Stage, By Therapy, and By Region
Report Insights Covered	Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region	Asia Pacific
Largest Market Share	North America

Melanoma Therapeutics Market Geographical Analysis

The North American region holds the largest market share of the global melanoma therapeutics market

North America is expected to dominate the melanoma therapeutics market in the forecast period due to the increasing prevalence of melanoma and technical advancements in the region. According to the American Academy of Dermatology Association (AAD) 2022, Skin cancer is the most common cancer in the United States. AAD also estimated that one in five Americans will develop skin cancer in their lifetime. Also, approximately 9,500 people in the United States are diagnosed with skin cancer every day. Also, according to the American Cancer Society, about 99,780 new melanomas will be diagnosed in the United States in 2022, and around 7,650 people are expected to die of melanoma in the same year. These statistics highlight the need for drugs that help in the management of melanoma over the coming years.

The United States government has also developed favorable reimbursement policies for the treatment of melanoma diseases that are an attempt to fulfill unmet patient needs. This is expected to provide a healthy platform for growth in the North American market. Furthermore, the presence of numerous new players is expected to drive the overall market.

Melanoma Therapeutics Market Competitive Landscape

The melanoma therapeutics market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Bristol-Myers Squibb Co., Merck and Co., Inc., F. Hoffmann-La Roche, Ltd., AB Science S.A., Amgen, Inc., Celgene Corp., Daiichi Sankyo Co., Eisai Co., Ltd., GlaxoSmithKline, plc., Pfizer, Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the melanoma therapeutics market globally. For instance, In January 2019, Merck’s KEYTRUDA (pembrolizumab) received five new approvals in Japan, including adjuvant therapy for Melanoma.

Amgen Inc

Overview:

Amgen is one of the world's leading biotechnology companies. Amgen is a values-based company, deeply rooted in science and innovation to transform new ideas and discoveries into medicines for patients with serious illnesses.

Product Portfolio:

IMLYGIC: IMLYGIC (talimogene laherparepvec) is a prescription medication used to treat a type of skin cancer called melanoma. IMLYGIC may not help live longer and may not shrink cancer in organs.

Frequently Asked Questions

What is the Projected CAGR value of the Melanoma Therapeutics Market?

Melanoma Therapeutics Market is expected to grow at a CAGR of 11.43% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Melanoma Therapeutics Market during 2022-2029

Which is the fastest growing region in the Melanoma Therapeutics Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period

Melanoma Therapeutics Market