The Head and Neck Cancer Drugs Market is estimated to be valued at US$ 1,986.3 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Head and neck cancer comprises various types of malignant tumors that originates in the oral cavity and throat region. Head and neck cancer drugs include chemotherapy, immunotherapy, targeted therapy, and radiotherapy drugs used for treating cancer of oral cavity, larynx, throat, nose, sinuses and lymph nodes in the neck. With increasing disease prevalence and growing awareness about available treatment options, the demand for head and neck cancer drugs is growing significantly.
Market key trends:
The head and neck cancer drugs market is witnessing high growth owing to rising prevalence of head and neck cancer worldwide. According to WHO, around 740,000 new cancer cases and around 400,000 cancer deaths are reported each year globally. Majority of cases occur in less developed regions where the disease is caught at later stages. Increasing adoption of targeted therapy drugs and development of combination therapies for achieving better cure rates is supporting the market growth. For instance, drugs used in combination with immunotherapy are showing promising results. Also, novel drug delivery methods such as nanoparticles are being explored by key players to enhance the therapeutic efficacy of drugs for improved patient outcomes. These factors are expected to drive robust growth of the global head and neck cancer drugs market over the forecast period.
Porter’s Analysis
Threat of new entrants: The head and neck cancer drugs market has moderate threat of new entrants as research and development requires high capital investments and getting regulatory approval is also a long process.
Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are many established brands offering varied treatment options. However, demand for innovative drugs is growing.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to presence of many raw material suppliers and contract manufacturing companies in this market.
Threat of new substitutes: Threat from substitutes is low as new cancer drugs treat different cancer types or targeted towards certain mutations.
Competitive rivalry: Intense as major players focus on R&D to develop new drugs and combination therapies.
SWOT Analysis
Strength: Growing prevalence of head and neck cancers, rising awareness, and availability of reimbursed treatment options.
Weakness: High costs associated with R&D of new drugs, lengthy approval process.
Opportunity: Growth prospects in emerging markets, pipeline drugs targeting specific mutations.
Threats: Patent expiries of blockbuster drugs, safety concerns over certain therapies.
Key Takeaways
The Global Head And Neck Cancer Drugs Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of cancer worldwide. The market size for 2023 is US$ 1,986.3 Mn.
Regionally, North America dominates the market currently due to supportive reimbursement policies and growing adoption of high-priced drugs. Asia Pacific is expected to grow at fastest pace owing to rising healthcare spending and patient population.
Key players operating in the head and neck cancer drugs market are Merck & Co., Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Astrazeneca Plc., Fresenius Medical Care AG & CO. KGAA, and F. Hoffmann-la Roche Ltd. (Genentech, Inc.), among others. Major players focus on drug innovation through combinations and targeted therapies.
Head and Neck Cancer Market Research Report: By type (Laryngeal, Pharyngeal, Salivary Gland, Oral Cavity, Nasopharyngeal), by Diagnosis (Blood Test, Endoscopy, others), by Treatment (Chemotherapy, Surgery, Others), by End-User – Global Forecast Till 2027Head and Neck Cancer Market – OverviewThe incidence of cancer has grown rapidly over the past few years at an alarming rate, among which head and neck cancer has a huge chunk.
Reports that evaluate the medical device industry have been made accessible by Market Research Future, which creates reports on several industry verticals that review the market development and prospects.
The market is anticipated to pursue growth strategies with a CAGR of 9.5% in the forecast period.The surge in alcohol and tobacco consumed globally is often cited as a key factor contributing to the head and neck cancers.
Substantial developments seen in the oncology field are expected to improve the treatment methods for this type of cancer and will open up new avenues for market progress in the approaching period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/5798 Segmental AnalysisThe segmentation of the head and neck cancer market is conducted on the basis of the type of head and neck cancer, diagnosis, region, treatment type, and end-user.
Based on the type of head and neck cancer, the market is segmented into laryngeal cancer, salivary gland cancer, pharyngeal cancer, nasopharyngeal cancer, lip and oral cavity cancer, and others.
By end-users, the market is segmented into specialty clinics, hospitals, and ambulatory surgical centers.Detailed Regional Analysis The regional assessment of the head and neck cancer market comprises of regions such as the Americas, Europe, Middle East, Asia Pacific, and Africa.
