Rockville, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The basal cell carcinoma therapy market report provided by Fact.MR examines significant drivers of growth that have effects on sales. The research provides in-depth analysis of important topics like basal cell carcinoma market drivers, opportunities, significant player strategies, and demand prediction. The report also evaluates current trends across several categories such as treatment type, end user, and region (2023 to 2033).
Fact.MR – A Market Research and Competitive Intelligence Provider: The global basal cell carcinoma treatment market is set to accelerate at a robust 9% CAGR between 2023 and 2033. Sales in the market are predicted to increase from US$ 6.3 billion in 2023 to US$ 15 billion in 2033.
Surging demand for innovative basal cell carcinoma treatments due to rising non-melanoma cancer prevalence is contributing to the demand in the market. Due to this increase in frequency, there is an escalating need for cutting-edge, novel therapeutic approaches for basal cell carcinoma. As a result, the rising prevalence of skin cancer is estimated to continue being a key driver propelling the acceleration of the global basal cell carcinoma therapy market.
According to a study conducted by the Skin Cancer Foundation, basal cell carcinoma is the most prevalent kind of skin cancer. Every year, 3.6 million new instances of basal cell carcinoma are thought to be detected in the United States.
As the awareness about skin cancer increases, so does the demand for non-surgical treatments for basal cell carcinoma. Non-surgical treatments such as topical creams, photodynamic therapy, cryotherapy, and laser therapy are becoming increasingly popular due to their effectiveness, affordability and minimal side effects.
These treatments offer less invasive options than surgery and help in reducing downtime and increasing recovery time. The increasing demand for these treatments is expected to drive the acceleration of the global basal cell carcinoma treatment market from 2023 to 2033.
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Based on treatment type, the surgery segment is anticipated to hold a sizable share between 2023 and 2033. This is attributed to the availability of variety of surgeries specifically designed to treat basal cell carcinoma.
Prominent surgical procedures for treating the condition include Mohs surgery, excision, and curettage and electrodesiccation. This has caused the surgical segment to take the lead in the market's development.
North America is anticipated to dominate the global market due to the rising prevalence of acute leukemia and initiatives launched by pharmaceutical companies to develop innovative formulations specifically for children. In North America, market acceleration is predicted to be boosted by an increase in advanced clinical phase studies and enhanced research and development efforts. Increased government and pharmaceutical organization efforts to increase manufacturer presence and escalating market awareness are also set to provide impetus for market expansion.
Key Takeaways:
- North America is estimated to account for around 50% share in the global basal cell carcinoma treatment market.
- Germany is slated to account for a significant market share in the Europe basal cell carcinoma treatment market from 2023 to 2033.
- Japan is poised to hold a sizeable portion of the Asia Pacific market for basal cell carcinoma treatment market between 2023 and 2033.
- Based on treatment type, the surgery segment accounts for around 50% share in the global basal cell carcinoma treatment market.
- On the basis of end user, the hospital sector is poised to account for a 40% share in the global market.
Growth Drivers:
- The market for treating basal cell carcinoma is being driven by an increase in occurrences of xeroderma pigmentosum and nevoid basal cell carcinoma syndrome.
- Rising intake of oral drugs is predicted to drive the demand for basal cell carcinoma treatment.
Restraints:
- The interval between the clinical development of basal cell carcinoma (BCC) and the patient's presentation for a final diagnosis and course of therapy is frequently delayed.
- The availability of alternative therapies and a lack of specialized training are set to impede market progress.
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Competitive Landscape:
Key players in the market are likely to make significant investments in the creation of ground-breaking therapies for basal cell carcinoma. Several other leading pharmaceutical firms are performing research studies to acquire extensive product approval for their existing cancer remedies.
For instance,
- In December 2022, in a Phase I/II study to examine the safety and effectiveness of MW005 in the therapy of low-risk skin cancers was published by MediWound Ltd., a highly integrated biopharma company that focuses into next cell therapy remedies for tissue repair and regeneration.
- In December 2022, the interim findings of part-one of an ongoing Phase IIb clinical study of STP705 for the treatment of Cutaneous Squamous Cell Carcinoma in Situ (isSCC) was released by Sirnaomics Ltd., a leading biopharmaceutical firm in the research and development of RNAi therapies.
Key Companies Profiled by Fact.MR
- Sanofi
- Allergan
- Novartis AG
- Bausch Health Companies Inc.
- Taro Pharmaceutical Industries Ltd.
- Mylan
- Roche
- Perrigo
- Sun Pharmaceuticals
More Valuable Insights on Basal Cell Carcinoma Treatment Market
In the latest study, Fact.MR offers a detailed study on global basal cell carcinoma treatment market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of basal cell carcinoma treatment through detailed segmentation as follows:
By Treatment Type:
- Surgery
- Drugs
- Radiation Therapy
By End User:
- Hospitals
- Specialty Clinics
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Questions Covered in the Basal Cell Carcinoma Treatment Market Report
- What is the projected value of the basal cell carcinoma treatment market in 2023?
- At what rate will the global basal cell carcinoma treatment market grow until 2033?
- Which are the factors hampering the growth in the basal cell carcinoma treatment market?
- Which region is expected to lead in the global basal cell carcinoma treatment market during 2023 to 2033?
- Which are the factors driving the basal cell carcinoma treatment market during the forecast period?
- What is the expected market value of the basal cell carcinoma treatment market during the forecast period?
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