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“Global Malignant Melanoma Drug Market, Dosage, Price and Clinical Pipeline Outlook 2024” report highlights:
Global Malignant Melanoma Drug Market Overview
Dosage, Price and Patent Insight
Global Malignant Melanoma Drug Clinical Pipeline: 197 Drugs
Marketed Malignant Melanoma Drug Clinical Insight: 25 Drugs
Sales Analysis of Global Melanoma Therapeutics
Regional Analysis of the Melanoma Drug Market
Melanoma occurs due to mutations in the skin cells which ultimately lead to the formation of malignant tumors. These tumors commonly originate in the pigment-producing melanocytes in the basal layer of the epidermis. Being an advanced form of skin cancer, it is the cause of maximum number of skin cancer deaths. An insight into the prevalence of melanoma shows a rising trend amplified by the use of tanning beds and increased exposure of skin to ultraviolet rays in regions like the US, Europe and Australia which currently show much higher prevalence than the rest of the world.
Inspite of melanoma being a fatal form of skin cancer, its early detection makes it easily treatable. The melanoma market is flooded with traditional therapeutic approaches of chemotherapy, radiation therapy and surgery with many advanced therapies slowly entering the market. However, each of the traditional method have several limitations; thus leading to an increased need for better and efficient therapeutics.
Current market trends indicate that the malignant melanoma market is slowly shifting to advance and targeted therapeutic methods such as vaccine and immunotherapy. The recent FDA approvals of six biologics within six years has been a boost to the growth of malignant melanoma market with many key players investing heavily on the research and development of therapeutics that have shown promising therapeutic results in clinical studies of malignant melanoma.
The Targeted therapy segment of the malignant melanoma market is anticipated to be the most promising market of the future due to its high efficacy with minimum side effects. Further, sales analysis and future projections of existing therapeutics show exponential growth for the newly introduced biologics like Opdive and cotellic due to multifold increase in adoption rate, positive post marketing response and feedback from users.
The US currently leads the global malignant melanoma market due to large patient base, easy availability and affordability of the newly introduced biologics followed by Europe. Other regions such as Australia and New Zealand have also contributed significantly to the current market size. However, the increasing patient base in highly populated regions like China and India is estimated to shift the market size to these Asian regions by the year 2024.
Overall, the global melanoma market is anticipated to expand in value from US$ close to 5 Billion in 2016 to an estimated US$ 14 billion by 2024, representing a robust Compound Annual Growth Rate (CAGR) of 12%. The advancement in research and development of therapeutics, early entry and dominance of immunotherapeutics, strong investor base and a robust clinical pipeline ensures a bright future for the key players involved in the segment.
KuicK Research report on the global malignant melanoma is based on an in-depth analysis of the current market trends, Opportunities and Other dynamics that may have a significant impact on the market. Special emphasis has been put on the collection and analysis of latest data that will influence the market in the present and the future. Further, analysis of sales data, patent expiry, Cost analysis of therapeutics and collaboration between industries has been used to devise an accurate and efficient projection regarding the future of malignant melanoma market which clearly indicates it to be a key market in the future of skin cancer therapy.