Nasopharyngeal Cancer Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM3102 | Last Updated On: May 18 2022 | Available Formats

> Global Nasopharyngeal Cancer Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Nasopharyngeal Cancer Market is segmented By Therapy (Chemotherpy, Immunotherapy, Radiation therapy, Others), By End User (Hospitals & Clinics, Ambulatory surgery centers Electronics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Nasopharyngeal Cancer Market is expected to grow at a CAGR of 4.7% during the forecasting period (2022-2029).

Nasopharyngeal cancer is a rare Therapy of malignant cancer that appears in the nasopharynx. It is the upper part of the throat behind the nose. The nasopharynx is situated at the base of the skull, directly above the roof of the mouth. Nasopharyngeal cancer generally starts in the squamous cells that track the nasopharynx. The exact sources of nasopharyngeal cancer are unknown; however, a few risk factors are linked with nasopharyngeal cancer. Exposure to the Epstein-Barr virus is deemed a common risk factor of nasopharyngeal cancer. Moreover, people with East Asian or Chinese ancestry are found to be more prone to cancer. Early symptoms of nasopharyngeal cancer involve sore throat, lump in the nose or neck, difficulty in breathing or speaking, difficulty in hearing, pain or ringing in the ear, and/or headaches

 

Market Dynamics

The nasopharyngeal cancer market has grown significantly at a strong CAGR due to the increasing patient count with nasopharyngeal cancer. With fast technological advancement and innovation, the nasopharyngeal cancer market is likely to grow globally.

Increasing awareness regarding nasopharyngeal cancer

There is a rising awareness of the diagnosis and treatment for nasopharyngeal cancer. Conventionally, the public perception concerning nasopharyngeal cancer was low due to the lack of government initiatives and relatively low incidence rate of the disease. To boost community awareness for ethnicities, which are prone to nasopharyngeal cancer, several primary healthcare centres have began awareness campaigns to enhance the awareness of nasopharyngeal cancer. Therefore, greater adoption of nasopharyngeal cancer diagnosis and treatment is being witnessed, which is driving the growth of the global nasopharyngeal cancer market.

High treatment cost of nasopharyngeal cancer

The high price of therapeutic procedures, such as chemotherapy, surgeries, and radiation therapy, results in out-of-pocket expenditure among non-insured cancer patients. The high price of drugs adds to the overarching financial burden of the treatment. This can act as a barrier for the global nasopharyngeal cancer treatment market. With so many advantages of the nasopharyngeal cancer market, it has a few disadvantages too. The high cost of the treatment and side effects are acting as a barrier for the nasopharyngeal cancer market.

COVID-19 Impact Analysis

The COVID-19 pandemic has hampered the growth of the nasopharyngeal cancer market, owing to the decline in hospital visits and the diagnosis rate of the disease amidst the pandemic. The major concern during the COVID-19 pandemic was to stay safe at home and boost immunity; which in turn, has declined the clinic visits, leading to the downfall in the nasopharyngeal cancer market in 2020.

 Segmentation Analysis

Based on therapy, the nasopharyngeal cancer market has been classified into chemotherapy, immunotherapy, radiation therapy and others

Radiation Therapy is Expected to Hold Significant Market Share in the Treatment Therapy Segment

Radiation therapy forms the main modality of treatment in nasopharyngeal cancer. Newer and advanced solutions of nasopharyngeal cancer treatment include a combination of both chemotherapy and radiotherapy techniques. These treatment modalities are at an early clinical phase and will make a commercial appearance late during the end of the forecast period.

Based on the End User, the animal stem cell therapy market has been classified into hospitals & clinics, ambulatory surgery centers and others 

The hospitals & clinics segment is anticipated to hold the largest share in the global market

The rapid adoption of technologies is expected to further boost the nasopharyngeal cancer treatment market. This trend is likely to be seen in emerging regions where healthcare expenditure is increasing at a considerable pace. Developed regions are observing since availability for nasopharyngeal cancer treatment and procedure is easily available, the demand for nasopharyngeal cancer market has increased. Companies are investing heavily in emerging regions to offer efficient treatment solutions for higher healthcare quality, greater efficiency and better patient outcomes.

Geographical Analysis

Based on geography, the study analyzes the animal stem cell therapy market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America is estimated to hold the largest share in the global market

North America is the largest market for nasopharyngeal cancer treatment; however, Asia Pacific is expected to witness the fastest growth during the forecast period. In Asia pacific, nasopharyngeal cancer is one of the most widespread cancers in the head and neck areas. Men are relatively two to three times more likely to grow it than women. The peak age of prevalence is between 50 and 60 years. This cancer is generally more common in Southeast Asia. Moreover, the five countries with the greatest incidence of nasopharyngeal cancer in the world were Indonesia, China, Vietnam, India and Malaysia, respectively. The standard incidence of nasopharyngeal cancer in the world was 1.2 per 100,000 (in men 1.7 per 100,000; in women, 0.7 per 100,000). Developed regions are witnessing that since accessibility for nasopharyngeal cancer treatment and procedure is easily accessible and available, the demand for the nasopharyngeal cancer market has increased. Companies are investing heavily in developing regions to offer effective treatment solutions for higher care quality, greater efficiency and better patient outcomes. Moreover, increasing healthcare awareness along with increasing spending on IT and healthcare technologies in developing regions is expected to boost overall demand for effective treatment of the nasopharyngeal cancer market. Though there has been an alarming increase in the incidence rate of nasopharyngeal in Latin America, ineffective public policy formulation mechanism along with low healthcare expenditure has led to moderate growth in the region. Latin America and MEA are expected to witness moderate growth during the forecast period.

Competitive Landscape

The animal stem cell therapy market is highly competitive, owing to the presence of big food brands. The key animal stem cell therapy players which are contributing to the growth of the global market include Biodiem Ltd., Bristol-Myers Squibb, Cyclacel Pharmaceuticals Inc., Eli Lilly And Co., GlaxoSmithKline Plc., Merck & Co., Inc., Novartis International AG, Ono Pharmaceutical Co., Safoni, Theravectys SA, among others. The major players are adopting new product launch and expansion strategies for global growth in the animal stem cell therapy market.   

Bristol Myers Squibb Co.:

Bristol Myers Squibb Co. employs in the discovery, expansion, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. The firm recommends chemically-synthesized drugs or small molecules, products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.  

Product Portfolio: The Company’s portfolio comprises Revlimid, Eliquis, Opdivo, Spryvol, Inrebic, Baraclude, among others

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