Merkel cell carcinoma (MCC) is a rare form of skin cancer that forms in the skin cells known as Merkel cells or touch receptors. It often appears as a solitary red, purple, or skin-colored nodule on sun-exposed areas such as the head and neck regions. MCC grows and spreads rapidly causing swelling of nearby lymph nodes. Merkel cell carcinoma treatment includes radiation therapy, chemotherapy, and surgery. Depending on the stage of the cancer, treatment options may involve a combination of these therapies.
The Merkel Cell Carcinoma Market is estimated to be valued at US$ 2.51 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Merkel Cell Carcinoma Market are Merck, Incyte Corporation, Kartos Therapeutics, Inc., Bristol-Myers Squibb, and Amgen Inc. Merck and Incyte Corporation are leading pharmaceutical companies offering immunotherapies for Merkel cell carcinoma treatment.
Rising incidence of Merkel cell carcinoma worldwide is a key factor driving the market growth. According to studies, MCC incidence rates have tripled over the past 20 years. Increasing exposure to ultraviolet radiation from sun exposure is contributing to the rising caseload of MCC.
Ongoing research and development activities for developing effective treatment options is fueling market growth. Pharmaceutical companies are engaged in developing monoclonal antibody therapies, immune checkpoint inhibitors, and combination therapies to improve treatment outcomes in Merkel cell carcinoma.
Market Trends
Growing preference for targeted therapy - Introduction of immune checkpoint inhibitors and targeted monoclonal antibody therapies is revolutionizing Merkel cell carcinoma treatment. Drugs like avelumab and pembrolizumab offer more efficacious treatment with fewer side effects compared to chemotherapy.
Rising focus on combination therapies - Combination of chemotherapy with immunotherapy is emerging as a promising treatment approach. Ongoing clinical trials are evaluating efficacy of combining chemotherapies like cisplatin with immune checkpoint inhibitors. Such combination regimens may achieve high response rates.
Market Opportunities
Development of novel drug candidates - Several biotech companies are working on developing novel drug candidates like anti-PD-L1 monoclonal antibodies, vaccines, and oncolytic virus therapies to treat Merkel cell carcinoma. Success of such candidates can reap high returns.
Increasing screening and early diagnosis - Initiatives to raise awareness about MCC and incorporate screening of high-risk groups can help detect MCC at early stages. This provides scope for intervening with curative therapies.
Impact Of COVID-19 On Merkel Cell Carcinoma Market Growth
The COVID-19 pandemic posed significant challenges for the Merkel cell carcinoma market. During the initial phases of the pandemic, patients avoided or delayed medical care due to fears of virus exposure or lockdowns, resulting in delayed diagnosis and treatment of Merkel cell carcinoma. This negatively impacted market growth in the short term. However, as the healthcare systems adapted to the pandemic by implementing strict safety protocols, the number of patients seeking treatment gradually increased. Though the market experienced a temporary dip, the long term impact is expected to be marginal. As the focus shifts to post-COVID recovery, efforts must be made to promote early detection and ensure uninterrupted access to care. Teleoncology can help maintain patient engagement and support. Vaccination drives must continue to alleviate pressure on hospitals and enable prioritization of cancer treatment. With prudent strategies, the market is well-positioned to get back on its pre-pandemic growth trajectory.
Geographical Regions With High Merkel Cell Carcinoma Market Valve Concentration
The United States represents the largest geographical market for Merkel cell carcinoma treatment in terms of value. This is primarily due to the high prevalence of the disease and well-developed healthcare infrastructure in the country. Within the US, states like Florida, California and Arizona have emerged as major hotspots with higher caseloads. These southern regions experience warmer and sunnier weather for most part of the year. Extensive sun exposure increases risk and has contributed to US retaining its top position. Europe is the second largest regional market led by markets like Germany, United Kingdom and France. However, the Asia Pacific region is witnessing fastest market growth driven by improving access to healthcare in India and China. Rising awareness among physicians and public regarding early detection is further propelling the APAC market.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
What Are The Key Data Covered In This Merkel Cell Carcinoma Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Merkel Cell Carcinoma Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Merkel Cell Carcinoma Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Merkel Cell Carcinoma Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Merkel Cell Carcinoma Market vendors
FAQ’s
Q.1 What are the main factors influencing the Merkel Cell Carcinoma Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Merkel Cell Carcinoma Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Merkel Cell Carcinoma Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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