Global Melanoma Market – Industry Trends and Forecast to 2029

Melanoma Market Analysis and Size

The global melanoma market is expected to witness significant growth during the forecast period. In recent years, there has been an increase in the number of new cases observed due to climatic changes. These changes are increasing the occurrence of melanoma patients worldwide, raising the demand for proper treatment methods. Among the several treatments, the chemotherapy segment held a substantial market share in 2020. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the melanoma market in the forecast period 2022-2029. The expected CAGR of melanoma market is tend to be around 11.8% in the mentioned forecast period. The market was valued at USD 5.37 billion in 2021, and it would grow upto USD 13.11 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Melanoma is a kind of skin cancer wherein cancerous cells develops in pigment-producing cells called melanocytes. It can also affect in eyes and very rarely in the nose or throat. Patient suffering from the melanoma generally develops unusual growth in an existing mole. Melanoma is considered the deadliest of these three types of skin cancer. Genes and UV radiations are mainly responsible for causing melanoma. In addition to cancer, various skin allergies and skin infections are also rising, which works well for the skin treatment and therapeutics industry.  

Melanoma Market Scope and Segmentation

Global Melanoma Market Dynamics

Drivers

• Notable Developments in terms of Market Players

Recently, there have been some promising and innovative developments in the global melanoma market. The market has observed the presence of several noticeable market players with each of the players competing for more revenue and greater reach. Relentless research and development activities has played a critical role in the expansion of the share of the market and growing revenue for the market players. This boosts the market growth.

• Increasing Demand of Targeted Therapy

The rising demand for targeted therapy showed many advantages as it interferes with specific proteins involved in tumorigenesis focusing on specific molecular changes, which stop the growth of various types of cancers. Several significant factors influenced melanoma growth, including the fewer adverse effects of the therapy and the availability of several targeted therapeutics. This boosts the market growth.

• Increase in Skin Cancer

As per the records of WHO, around 132,000 cases of skin cancer occur each year. Furthermore, a 10% reduction in ozone levels is predicted to lead to an increase of 4,500 skin cancer cases worldwide. This is projected to increase the demand for these drugs during the forecast period.

Opportunities

• Growing Healthcare Infrastructure and Policies

The presence of large patient pool, having a strong presence of key players, ease of drug availability, a well-established healthcare infrastructure, favourable reimbursement policies in the healthcare system, rise in R&D, and innovation activities and higher adoption of advanced therapeutics may create opportunities for the market.    

• Increasing Demand for Retail Pharmacies

The rise in the number of drugs for mesothelioma delivered via retail pharmacies and the rise in the number of retail pharmacies in highly developed countries create opportunities for the market growth. In addition to this, patients choose retail pharmacies for purchasing drugs, as these are easily accessible.

• Growing Regulatory Approvals

The high emphasis and, subsequently the elevated investment in developing efficient treatment options are most likely to have an encouraging impact on the market's growth. Treatment recommendations depend on many factors, and the growing number of regulatory approvals has significantly impacted market growth. For instance, in 2021, Aldesleukin, Binimetinib, Braftovi, Cobimetinib Fumarate, Cotellic, Dabrafenib Mesylate were some of the approved drugs used for the treatment by FDA. The importance of major companies on introducing innovative treatment options and drugs will support the market growth in the coming years.

 Restraints/Challenges

• Unavailability of Appropriate Treatments

To treat conditions that are rare, many a times all treatments are not available, especially in under-developed countries. Severe patients need to be treated with advanced techniques, but these are sometimes unavailable in the hospitals and clinics. Thus, it hampers the market growth.

• High Cost

The huge expenditure associated with the several treatment methods such as chemotherapy, and targeted therapy which are in high demand in recent years hamper the market growth.

This global melanoma market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global melanoma market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Melanoma Market

The pandemic has significantly affected numerous diagnostic methods because of several restrictions and risk exposure of comorbidity patients. A drastic decrease in skin biopsies was seen early in the COVID-19 pandemic, which unreasonably affected the elderly, females, and certain geographic regions. However, efforts have been made by the government to contain the situation in the post-pandemic era.

Recent Development:

In 2020, FDA approved the drug selumetinib of AstraZeneca and Merck & Co. to treat neurofibromatosis type 1, or NF1, a rare and characteristically inherited disease that causes tumors to grow inside nerve sheaths. In addition to this, Merck joined AstraZeneca in developing and commercializing Koselugo as part of a deal that included the ovarian cancer drug Lynparza.

Global Melanoma Market Scope

The global melanoma market is segmented on the basis of treatment type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Treatment Type

• Chemotherapy
• Targeted Therapy
• Immunotherapy
• Others

Route of Administration

• Oral
• Parenteral
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Melanoma Market Regional Analysis/Insights

The global melanoma market is analysed and market size insights and trends are provided by treatment type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global melanoma market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing a positive growth for global melanoma market throughout the forecasted period due to the increase awareness about the diseases and rapidly disposable income.

North America dominates the market due  to the increase prevalence of melanoma, strong research and development activity by key players, high demand of targeted therapies and advanced healthcare facilities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Melanoma Market Share Analysis

The global melanoma market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global melanoma market.

Key players operating in the global melanoma market include:

• Johnson & Johnson Private Limited (U.S.)
• Mylan N.V. (U.S.)
• Sun Pharmaceutical Industries Limited(India)
• Sanofi S.A.( France)
• Bayer AG (Germany)
• Lilly (U.S.)
• Merck & Co., Inc. (U.S.)
• GSK plc (U.K.)
• Novartis AG (Switzerland)
• AbbVie Inc. (U.S.)
• Exelixis, Inc. (U.S.)
• Aptose Biosciences Inc. (Canada)

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