Rockville , March 20, 2024 (GLOBE NEWSWIRE) -- The non-melanoma skin cancer market is estimated to be valued at US$ 5,068.7 million in 2024. The market is projected to grow at a CAGR of 5.7% through 2034. The market value is forecasted to jump to US$ 8,859.6 million by 2034.
The market for non-melanoma skin cancer treatment is witnessing an increase in demand due to the increasing number of patients. Soaring temperatures, as a result of global warming, are playing a considerable part in the rising number of people being afflicted with skin cancer. Advanced treatment options and the adoption of new technology are stimulating growth in the non-melanoma skin cancer market.
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Both private health institutions and public bodies are undertaking efforts to raise awareness about non-melanoma skin cancer. As a result of the campaigns, check-ups are becoming more frequent and skin cancers are being identified at an earlier stage. Thus, governments and private health institutions are propelling the non-melanoma skincare industry.
However, there are certain obstacles in the path of the market’s progress. The side effects of the treatment, such as hair loss and anemia, turn certain people off the treatment. The high cost associated with the treatment also has a negative impact on the reputation of the market.
| Report Attribute | Details |
| Value Projection (2034) | US$ 8,859.6 Million |
| Growth Rate (2024-2034) | 5.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 32 Tables |
| No. of Figures | 160 Figures |
“The integration of technology for producing novel forms of treatment is driving the market. Innovations like stereotactic body radiation therapy (SBRT) and spatially fractionated radiation therapy (SFRT) are used to reduce the side effects of the treatment. Thus, technological advancement presents a significant opportunity in the market,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Amgen Inc.
- Regeneron Pharmaceuticals Inc.
- Almirall
- Boehringer Ingelheim International GmbH
- Bristol-Myers Squibb Company
- Hoffmann-La Roche Ltd
- GlaxoSmithKline Plc
- Merck & Co., Inc.
- Novartis AG
- Eli Lilly and Company
- Sun Pharmaceutical Industries Ltd.
Key Takeaways from the Market Study
- The non-melanoma skin cancer market is projected to expand at a CAGR of 5.7% through 2034.
- The East Asia non-melanoma skin cancer market is expected to grow at a CAGR of 5.6% from 2024 to 2034.
- The non-melanoma skin cancer industry in China is expected to register a CAGR of 7.0% over the forecast period.
- The non-melanoma skin cancer industry in Mexico is expected to rise at a CAGR of 8.1% through 2034.
- Based on the treatment type, radiation therapy leads the market, with an expected market share of 88.6% in 2024.
In a Bid to Come up with Novel Treatments, Market Players Making Research and Development a Priority
To have higher success rates, players in the market are investing heavily in research and development. Partnerships with research institutes are also being sought. Some of the prominent companies in the market are Amgen Inc., Regeneron Pharmaceuticals Inc., Almirall, and Boehringer Ingelheim International GmbH.
Recent developments
- In November 2023, it was announced by DermaSensor that its elastic scattering spectroscopy (ESS) device was showing favorable results in the detection of skin cancers.
- In June 2023, Sirnaomics Ltd.’s siRNA treatment for squamous cell carcinoma advanced to late-stage testing.
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Country-wise Insights
North America accounts for the vast majority of the non-melanoma skin cancer market. Even if the share in the market is anticipated to decline over the projection period, North America is still a lucrative region in the industry. The North American market is expected to be worth $2,941.0 million in 2024, accounting for 58.0% of the total market. The market is estimated to grow at a 2.9% CAGR from 2024 to 2034. By 2034, the industry value in North America is expected to be US$ 3,930.0 million, with a 44.4% market share.
The non-melanoma skin cancer market in East Asia is predicted to grow faster than in North America. In 2024, East Asia's industry share is expected to be 0.8%, with a market value of $40.0 million. The market is estimated to grow at a CAGR of 5.6% over the forecast period. By 2034, East Asia's market value is expected to reach $78.0 million, with a 0.9% gain in market share.
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