Skin Cancer Drugs Market is segmented By Cancer Type Segment (Melanoma, Non-melanoma, Basal cell carcinoma, Squamous cell carcinoma., Merkel cell cancer), By Drug Class (Chemotherapy, Immunotherapy, Targeted Therapy, Others), By End-User Segment (Hospital, Clinics, Cancer Research Institutes, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Skin Cancer Drugs Market is estimated to reach high CAGR of 10.2% during the forecast period (2024-2031).
Skin Cancer Drugs are the most common type of cancer caused due to abnormal growth of skin cells. It is estimated that 90% of skin cancer drugs are caused majorly due to solar and artificial ultraviolet radiation (UV). The drug used to treat skin cancer is called skin cancer drugs. There are many drugs available in the market to treat skin cancer.
Skin Cancer Drugs Market
| Metrics | Details |
| Market CAGR | 10.2% |
| Segments Covered | By Cancer Type, By Drug Class, By End-User, 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 |
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Skin Cancer Drugs Market Dynamics
Skin Cancer Drugs Market growth is driven by the increasing incidence of skin cancer, extensive R&D pipelines, and rising awareness about skin cancer.
A solid emerging pipeline for skin cancer treatment will drive market growth.
A robust emerging pipeline for skin cancer drugs is expected to drive the market over the forecast period. Merck & Co, Inc announced its phase 3 KEYNOTE-716 (NCT03553836) trial investigating pembrolizumab (Keytruda) had met its primary endpoint of recurrence-free survival (RFS) for the treatment of patients with surgically removed stage II melanomas. Based on that data, the FDA has accepted a new supplemental biologics license application (sBLA) for pembrolizumab to treat patients 12 aged years or older with stage IIB or IIC melanoma following removal and has set a Prescription Drug User Fee Act (PDUFA).
The FDA has given fast-track designation for nemvaleukin alfa, an investigational engineered interleukin (IL) variant immunotherapy, to treat mucosal melanoma. This comes after the FDA granted orphan drug designation to nemvaleukin alfa to treat mucosal melanoma. Thus many drugs for the treatment of skin cancer are approved by FDA.
This will lead to the introduction of novel drugs that will transform this previous stagnant market and will improve treatment options for patients. Mainly, treatment strategies for specific patient subsets have shifted towards more-targeted treatments. Evidence from the late-stage melanoma pipeline indicates that this trend will continue. Research and development have gained much attention in the past few decades of skin cancer treatment due to rapidly increasing incident cases. More clinical trials have been investigated to find effective therapeutics with high safety and efficacy levels.
Some more recent drug approvals like the targeted therapies Tafin approved for BRAF-positive melanoma, immune checkpoint inhibitors Keytruda (pembrolizumab) and Opdivo (nivolumab). Amplimexon of Amplimed is the phase 2 stage of development. Aside from Onxeo is in phase 1 clinical trials. Other products like Trilexium of Kazia are preclinically developed now. These factors will drive the growth of the market in the forecast period.
Complications related to chemotherapy are likely to hamper market growth.
However, chemotherapy drugs used to treat skin cancer can treat the disease effectively. But like other treatments, it often causes side effects. The side effects of chemotherapy are different for each person. They depend on cancer, location, drugs and dose, and general health. But because these drugs travel throughout the body, they can affect normal, healthy cells that are fast-growing, too. Damage to healthy cells causes side effects.
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively impacted healthcare systems globally and majorly on the skin cancer drugs market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types, including skin cancer. According to the Centers for Disease Control and Prevention (CDC) and many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, be postponed unless the risks outweigh the benefits and secure the hospital infrastructure for the treatment COVID-19 patients. Thus, the COVID-19 pandemic has impacted the skin cancer drugs market.
Skin Cancer Drugs Market Segment Analysis
The non-melanoma segment is expected to grow at the fastest CAGR during the forecast period (2022 - 2029)
Non-melanoma is expected to hold a significant market share in the cancer type. Around 2-3 million non-melanoma skin cancers and 132,000 melanoma skin cancers occur globally each year. According to the World Cancer Research Fund International, in 2018, non-melanoma skin cancer was the fifth most commonly occurring cancer in people, with over one million diagnoses worldwide. Thus, it is the most common malignancy in the United States, with substantial associated morbidity and cost, as well as relatively small but significant mortality.
According to Cancer Research UK, there are around 147,000 new non-melanoma skin cancer cases in the United Kingdom every year, more than 400 every day (2014-2016). In 2016, about 67,700 new cases in females and 88,700 new cases in males were registered.
Treatment for non-melanoma skin cancer is usually successful. Unlike the other types of cancer, there's a significantly lower risk that cancer will spread to other parts of the body. Treatment for non-melanoma skin cancer is ultimately successful in approximately 90% of cases. Hence, the increasing rates of non-melanoma skin cancer and its success rates after treatment will drive the market's growth in the forecast period.
Skin Cancer Drugs Market Geographical Analysis
North America region holds the largest market share of the global skin cancer drugs market.
North America is expected to dominate the market in the forecast period. As per the American Academy of Dermatology, skin cancer is the most common cancer in the United States. Most cases of melanoma, the deadliest kind of skin cancer, are caused by exposure to ultraviolet (UV) light. It is estimated that approximately 9,500 people in the United States are diagnosed with skin cancer every day. Furthermore, as per the estimates of the American Cancer Society, in 2018, there were around 91,270 new cases of melanoma in the United States and approximately 9,320 deaths due to this disease.
Furthermore, an increase in awareness about the treatment of melanoma and improved healthcare facilities and infrastructure drives the market. In July 2014, the Office of the Surgeon General released The Surgeon General's Call to Action to Prevent Skin Cancer, establishing skin cancer prevention as a high priority for our nation. The Call to Action described prevention strategies that work and called on all community sectors to address skin cancer as a significant public health problem. Since the Call to Action release, a growing community of partners at the national, state, and local levels has taken great strides to help prevent skin cancer in the United States. These factors drive the growth of the skin cancer drugs market in the forecast period.
Skin Cancer Drugs Market Competitive Landscape
The skin cancer drugs market is the highly competitive presence of local and global companies. Some of the key players contributing to the market's growth include Amgen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Sanofi S.A., Merck & Co., Inc., Novartis AG, Sun Pharmaceutical Industries Ltd, Daiichi Sankyo Co., GlaxoSmithKline, 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 Skin Cancer Drugs 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 Inc. is an independent biotechnology medicines company that discovers, develops, manufactures, and markets medicines for grievous illnesses. The Company focuses on human therapeutics and innovating novel drugs based on cellular and molecular biology.
Product Portfolio:
IMLYGIC: IMLYGIC (talimogene laherparepvec) is a prescription medication used to treat a type of skin cancer called melanoma when it is on the skin or in lymph glands.
