Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions
Melanoma is a skin cancer type that involves an abnormal and uncontrollable growth of the skin cells, often developed in areas exposed to unusual higher levels of UV light or HPV infections. With an exception of melanoma, most skin cancers are not life threatening and can be effectively treated through surgery or through a therapeutic regimen that includes chemotherapy, immunotherapy and targeted agents alone or in combination.
Globally, the incidence of melanoma is gradually increasing mainly due to depleting ozone level coupled with a gradual increase in UV radiation entering the Earth’s surface. According to the World Health Organization, a 10% ozone depletion is likely to result in an additional 300,000 non-melanoma and 4,500 melanoma cases. Approximately, 287,723 people are expected to develop melanoma by the end of 2018, with Europe and North America representing over 50.1% and 24.8% of the new cases respectively. Such high proportions of incident cases highlight increased need for melanoma drugs in these regions over the forecast period.
Major market drivers include rapidly growing incidence of melanoma, environmental changes, raising awareness, increase in number of FDA fast track approvals, and increasing adoption of novel therapeutics and combination therapies are anticipated to present future growth opportunities for this market. Conversely, high cost associated with combination treatment, stringent regulations, delayed regulatory approvals and limited reimbursement, treatment side-effects are likely to restrict the market growth during the review period.
By region, North America dominates the global melanoma therapeutics market. Furthermore, Asia-pacific is expected to witness highest growth rate followed by Europe during the forecast period. In Asia-pacific, China (7, 379new melanoma cases, 2018), India (3,048new melanoma cases, 2018) and Japan (1,818new melanoma cases, 2018) are expected to be the fastest-growing melanoma therapeutics markets.
A high commercial demand of well-tolerated novel therapies along with a booming patient base in North America and Europe, has created a lucrative opportunity for drug developers in the melanoma therapeutics market. Immunotherapies with checkpoint inhibitors and BRAF/MEK drug classes are continuing to gain a strong foothold in the melanoma therapeutics market with a number of recent approvals such as avelumab (Bavencio®), ipilimumab (Yervoy®), pembrolizumab (Keytruda®), nivolumab (Opdivo®), dabrafenib (Tafinlar) and binimetinib (Mektovi). Several promising immunotherapies and combination therapies are set to reach the market with the next five years. During the forecast period, an increase in uptake of novel treatments is expected mainly due to their improved survival benefits, treatment outcomes, and minimal side effects.