Portland, OR, Oct. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global skin cancer treatment market generated $7.2 billion in 2021, and is estimated to reach $14.5 billion by 2031, manifesting a CAGR of 7.3% from 2022 to 2031. The report offers an extensive analysis of changing market dynamics, top segments, value chain, competitive landscape, and the Covid-19 pandemic impact. This report provides detailed information for market players, stakeholders, investors, and startups to help them devise strategies for gaining competitive edge and sustainable growth.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $7.2 billion |
Market Size in 2031 | $14.5 billion |
CAGR | 7.3% |
No. of Pages in Report | 251 |
Segments covered | Type, Therapy, Distribution Channel, and Region. |
Drivers | Increase in incidence of melanoma and non-melanoma type of cancer |
Surge in demand for immunotherapy and targeted therapy-based treatments | |
Opportunities | Supportive initiatives taken by government for the management of skin cancer |
Development of the advanced therapies for the effective skin cancer treatment | |
Restrains | High cost of chemotherapy and immunotherapy |
Covid-19 Scenario:
- Non-urgent cancer treatments were postponed due to possibility of cross-contamination among cancer patients in the hospitals. Also, hospital staff was shifted to take care of increase in number of patients infected with coronavirus. This, in turn, reduced the number of staff members to take care of cancer patients.
- According to the paper published by the name "The impact of Covid-19 pandemic on quality of life in skin cancer patients," non-melanoma cancer patients were at a higher risk of infection by the Covid-19 disease and needed special and rapid treatment. This, in turn, raised the need for diagnosis and demand for cutting-edge and innovative medicines to effectively treat patients.
The research provides detailed segmentation of the global skin cancer treatment market based on type, therapy, distribution channel, and region. The research discusses segments along with their sub-segments to identify the largest revenue-generating and fastest-growing segments for market players and startups. Market size and estimations for each segment and its sub-segment are offered in the report to identify the steps that can be adopted for achieving the growth.
Based on type, the melanoma segment held the highest share in 2021, accounting for more than four-fifths of the total share, and is projected to continue its leadership status during the forecast period. However, the non-melanoma segment is expected to manifest the highest CAGR of 8.8% from 2022 to 2031.
Based on therapy, the immunotherapy segment accounted for the highest share in 2021, contributing to more than three-fifths of the global skin cancer treatment market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the targeted therapy segment is expected to manifest the highest CAGR of 8.6% from 2022 to 2031. The report also analyzes the chemotherapy segment.
Based on distribution channel, the drug stores and retail pharmacies segment contributed to the highest share in 2021, holding nearly half of the market, and is expected to dominate in 2031. However, the online providers segment is projected to grow at the highest CAGR of 8.5% during the forecast period. The research also discusses the hospital pharmacies segments.
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Based on region, North America accounted for the highest share in 2021, holding more than two-fifths of the global market, and is expected to maintain its dominance by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 8.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global skin cancer treatment market analyzed in the research include Amgen Inc., Bristol Myers Squibb Company, F.Hoffman –La-Roche Ltd., GlaxoSmithKline Plc., LEO Pharm A/S, Novartis AG, Merck KGAA, Regeneron Pharmaceuticals, Pfizer Inc., and Sun Pharmaceuticals Industries Ltd.
The report analyzes leading players and highlights different strategies such as partnerships, collaborations, new product launches, expansion, and others adopted by them to increase their market share and strengthen their positions in the market. The report provides a detailed analysis that offer business performance, product portfolio, operating segments, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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