The global Metastatic Melanoma Therapeutics Market is estimated to be valued at US$ 8011.15 Mn in 2023 and is expected to exhibit a CAGR of 11.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Metastatic melanoma is the most dangerous type of skin cancer that has spread to other parts of the body. Metastatic melanoma therapeutics include immunotherapy, chemotherapy and targeted therapy. Immunotherapies boost the body's natural defenses to fight cancer and have shown promising results in treating advanced stages of melanoma.
Market key trends:
One of the key trends in the metastatic melanoma therapeutics market is the increasing availability of immunotherapies. Immunotherapies have revolutionized the treatment of metastatic melanoma by harnessing the power of the immune system. Drugs such as checkpoint inhibitors stimulate the body's own immune cells to attack cancer. Checkpoint inhibitors target specific checkpoints on immune cells to enhance immune response against cancer cells. The success of checkpoint inhibitor drugs such as Opdivo and Keytruda have boosted the demand for immunotherapies in recent years. Moreover, combination therapies using immunotherapies along with other treatment options such as targeted therapies are gaining traction.
Segment Analysis
The global metastatic melanoma therapeutics market can be segmented based on therapy, end user, and region. By therapy, the market is segmented into chemotherapy, targeted therapy, and immunotherapy. The targeted therapy segment dominated the market in 2022 owing to the higher success rate of targeted drugs as compared to chemotherapy. Targeted therapy drugs such as BRAF and MEK inhibitors have significantly improved patient outcomes.
Key Takeaways
The Global Metastatic Melanoma Therapeutics Market Size was valued at US$ 8011.15 Mn in 2023 and is expected to grow at a CAGR of 11.6% over the forecast period.
Regional analysis
North America dominates the global metastatic melanoma therapeutics market owing to the higher per capita healthcare expenditure and availability of advanced treatment options in the region. The Asia Pacific market is expected to grow at the fastest rate during the forecast period due to the improving awareness about melanoma and expanding coverage for advanced therapies in China and India.
Key players
Key players operating in the metastatic melanoma therapeutics market are Bristol-Myers Squibb Company, Novartis AG, Merck & Co., Inc., Genentech Inc., F. Hoffmann-La Roche AG., Amgen Inc., AstraZeneca, Daiichi Sankyo Company, Limited., AB Sciences., AgonOX, Inc., Eisai Co., Ltd, GlaxoSmithKline, plc., Pfizer, Inc., and Vical, Inc.
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