Market Overview:
Skin cancer commonly develops in skin cells that are regularly exposed to sun. The most common types of skin cancer are basal cell carcinoma (BCC), squamous cell carcinoma (SCC), and melanoma. Skin cancer drugs are designed to treat skin cancer by targeting specific molecules involved in tumor growth and metastasis. Some key chemotherapeutic drugs used for skin cancer treatment include hydroxyurea, carboplatin, cisplatin, doxorubicin, methotrexate, pemetrexed, bleomycin, and paclitaxel.
Market key trends:
One of the major trends in the skin cancer drugs market is the availability of advanced treatment options for melanoma. melanoma is the most deadly type of skin cancer. However, some of the newly developed drugs such as immune checkpoint inhibitors have shown promising results for treatment of advanced melanoma. For instance, drugs such as pembrolizumab, nivolumab, ipilimumab used alone or in combination have shown significant improvement in overall survival rates for melanoma. Similarly, BRAF inhibitors such as vemurafenib and dabrafenib in combination with MEK inhibitors have also emerged as an effective targeted therapy option for BRAF mutation-positive melanoma. The approval and availability of such novel drugs with high response rates are expected to boost the growth of skin cancer drugs market over the forecast period.
Porter's Analysis
- Threat of new entrants: The threat of new entrants is moderate as high costs for R&D and regulatory requirements impose significant barriers. However, large number of startups are entering the market with focus on specific gene therapies.
- Bargaining power of buyers: The bargaining power of buyers is moderate since there are many established players offering diversified product portfolio. However, rise in generic drugs increase competition.
- Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of alternative raw material suppliers and lack of product differentiation.
- Threat of new substitutes: Threat of new substitutes is high due to ongoing development of innovative drugs and drug delivery technologies. Gene therapy is emerging as potential substitute.
- Competitive rivalry: high due to presence of many large global players and regional players focusing on specific therapies and geographical expansion.
Key Takeaways
- The global Skin Cancer Drugs Market Demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing prevalence of skin cancer, advancements in drug delivery systems, and approval of novel drugs.
- North America holds the major share in skin cancer drugs market owing to growth in healthcare spending, availability of advanced treatments, and high diagnosis rates. Asia Pacific exhibits fastest growth due to large patient base, improving access to healthcare, and raising awareness.
- Key players operating in the skin cancer drugs market are Novartis, Merck, Roche, Amgen, Pfizer, Sun Pharma, Bristol-Myers Squibb, AstraZeneca, Johnson & Johnson, Valeant, Daiichi Sankyo, Takeda, LEO Pharma, Mylan, Sanofi, Regeneron, Eli Lilly, Bayer, Gilead Sciences, and Astellas Pharma. These players are adopting strategies such as acquisitions, partnerships and collaborations, new product launches to strengthen their market position.
For more details on the report, Read-
https://www.insightprobing.com/skin-cancer-drugs-market-growth-demand-and-overview/
A recent report published by TheBusinessResearchCompany on Skin Cancer Drugs Market provides in-depth analysis of segments and sub-segments in the global as well as regional.The Skin Cancer Drugs Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global skin cancer drugs market.
The report covers the skin cancer drugs market’s segments- actinic keratosis (AK), basal cell carcinoma (BCC), squamous cell carcinoma (SCC), melanoma, hospitals, cancer research centers, clinics, chemotherapy, immunotherapy, targeted agents & other drugs.Skin Cancer Drugs Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.It covers all the regions, key developed countries and major emerging markets.
It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Companies in the skin cancer market are increasingly looking for strategic alliances with other companies in the market.
