New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Melanoma Therapeutics Global Market Report 2023" - https://www.reportlinker.com/p06486480/?utm_source=GNW
, Daiichi Sankyo Company Limited, F. Hoffman-La Roche Ltd., Pfizer Inc., GlaxoSmithKline PLC, Bayer AG, AbbVie Inc., and Johnson & Johnson Private Limited.
The global melanoma therapeutics market is expected to grow from $3.29 billion in 2022 to $3.67 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The melanoma therapeutics market is expected to reach $5.57 billion in 2027 at a CAGR of 11%.
The melanoma therapeutics market includes revenues earned by entities by providing stereotactic radiosurgery, stereotactic ablative radiation therapy, intralesional therapy, and palliative therapy .The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Melanoma therapeutics refers to a treatment procedure used for the treatment of melanoma, a type of skin cancer that develops in the melanocytes. They work by targeting abnormal cells either by killing them directly or by preventing them from growing and multiplying.
North America was the largest region in the melanoma therapeutics market in 2022.The regions covered in melanoma therapeutics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the melanoma therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The main types of melanoma therapeutic drugs are monoclonal antibodies, small-molecule inhibitors, and others.Monoclonal antibodies are therapeutic proteins made in the laboratory and have the ability to bind to specific targets, such as antigens present in cancer cells.
The various therapies are included, such as surgery, radiation therapy, immunotherapy, targeted therapy, and chemotherapy, and are administered by several routes of administration, including oral and injectables. The types of cancer are included, including superficial spreading melanoma, nodular melanoma, lentigno maligna melanoma, acral lentiginous melanoma, amelanotic melanoma, and others, which are diagnosed by using dermatoscopy, entinel lymph node biopsy, blood test, x-ray, ultrasound, and CT scan.
The increasing incidence of melanoma is expected to propel the growth of the melanoma therapeutics market going forward.Melanoma refers to a skin cancer that originates from melanocytes.
Melanoma therapeutics are the therapies and drugs used to treat melanoma patients to alleviate cancer.Thus, the increasing incidence of melanoma boosts the sales of melanoma therapeutics.
For instance, in May 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, around 57,000 melanoma deaths and 325,000 new cases of the illness were expected to occur globally in 2020.Moreover, according to IARC (International Agency for Research on Cancer) scientists, cutaneous melanoma instances will rise by more than 50% to more than 500 000 cases annually, and melanoma-related deaths will increase by more than two-thirds to almost 100,000 cases annually between 2020 and 2040.
Therefore, the increasing incidence of melanoma is driving the growth of the melanoma therapeutics drug market.
Product innovations have emerged as a key trend gaining popularity in the melanoma therapeutics market.Major companies operating in the melanoma therapeutics market are developing new and innovative therapies to strengthen their position in the market.
For instance, in January 2022, Immunocore, a UK-based biotechnology company, developed KIMMTRAK (tebentafusp-tebn) and received approval from the FDA to treat metastatic uveal melanoma.KIMMTRAK is the first and only therapy approved for treating unresectable or metastatic uveal melanoma after a successful phase 3 clinical trial clinically demonstrated an overall survival of almost 22 months.
It is a brand-new bispecific protein with anti-CD3 immune-effector activity linked to a soluble T cell receptor. This is the first compound created with Immunocore’s ImmTAC technology platform that aims to reroute and activate T lymphocytes so they can identify and eliminate tumor cells.
In April 2022, EMZ Partners, a Germany-based investment firm acquired a majority stake in FotoFinder Systems GmbH for an undisclosed amount.With this partnership, FotoFinder Systems GmbH plans to expand its product offering and reach new markets.
FotoFinder Systems GmbH is a Germany-based company that provides skin visualization equipment used in melanoma therapeutics.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The melanoma therapeutics market research report is one of a series of new reports that provides melanoma therapeutics market statistics, including melanoma therapeutics industry global market size, regional shares, competitors with a melanoma therapeutics market share, detailed melanoma therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the melanoma therapeutics industry. This melanoma therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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