Wilmington, Delaware, United States, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Head and neck cancer market was valued at US$ 1.6 billion in 2022. A CAGR of 6.8% is predicted from 2023 to 2031. Head and neck cancer market is expected to reach US$ 2.9 billion by the end of 2031. Healthcare services and cancer treatments are in demand as the global population ages.
Several organizations have increased their investments in research and development to drive the market for head and neck cancer treatment. A phase III study supporting a "new gold standard" of radiotherapy for head and neck cancer patients supports a precision radiotherapy technique. In new research, it has been demonstrated that the approach reduces swallowing issues after radiotherapy without compromising treatment effectiveness.
Innovative therapies are developed through the dynamics of competition between pharmaceutical and biotechnology companies. More affordable and effective treatments can be introduced as a result of market competition. Head and neck cancers are more common among the aging population.
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Key Findings of the Market Report
- Based on drug class, the anti-PD-1 monoclonal antibody segment is expected to drive demand in the future.
- Head and neck cancers are expected to be the most prevalent in North America by 2023.
- Head and neck cancers are expected to gain a market from hospital pharmacies.
- A steady growth rate is expected in Latin America and the Middle East and Africa during the forecast period.
Global Head and Neck Cancer Market: Key Players
Players are focusing on mergers & acquisitions, developing new products, and collaborating with government authorities. Manufacturers are bringing more innovative drugs and therapies to market with an eye toward improving patient quality of life. A large pipeline of drugs has been developed with regulatory support, greatly increasing the chances of finding treatments that are better than those currently available.
- Sanofi
- Pfizer
- Eli Lilly and Company
- F. Hoffmann-La Roche
- AstraZeneca
- Merck KgaA
- Bayer AG
- Bristol-Myers Squibb Company
- Bayer AG
- Galera
- Fresenius Kabi
- Teva Pharmaceuticals
Global Head and Neck Cancer Market: Growth Drivers
- The incidence of head and neck cancers, including those of the pharynx, oral cavity, and larynx, continues to rise. A number of factors contribute to the increase in the prevalence of cancers associated with human papillomavirus (HPV), such as tobacco use and alcohol consumption, and infection with human papillomavirus (HPV). As treatment options continue to advance, a variety of treatment options are available. This will lead to a growth of the market. A lot of research and development is going into targeted therapies and immunotherapies.
- Immunotherapy, particularly immune checkpoint inhibitors, can be used to treat head and neck cancers. Developing and approving immunotherapeutic drugs can have significant effects on the market. Personalized cancer treatment is becoming increasingly important as researchers continue to develop new biomarkers. Individualizing treatment plans based on biomarkers leads to better outcomes for patients.
- Head and neck cancers are diagnosed more accurately and early with advances in diagnostic technology, such as molecular testing and imaging methods. As a result, patients can enjoy better outcomes and receive more targeted treatment.
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Global Head and Neck Cancer Market: Regional Landscape
- Head and neck cancer is a major market in North America, with the highest revenue share in terms of the market size. Health care performance was positively impacted by government support, widespread awareness, favorable reimbursement policies, and easy access to quality care facilities.
- Due to the increased prevalence of head and neck cancer and the use of advanced medical technologies, it is expected to drive demand in coming years. Due to the presence of multiple players in the market and the high level of healthcare expenditures in North America, head and neck cancer is projected to remain a dominant market.
- Access to healthcare and advanced diagnostic services have contributed to early detection of head and neck cancer in North America. Government support, high awareness, and advanced medical technologies will likely keep North America dominant in the global head and neck cancer market over the forecast period.
Global Head and Neck Cancer Market: Segmentation
By Drug Class
- EGFR Inhibitors
- Mitotic Inhibitors
- Anti-PD-1 Monoclonal Antibodies
- Others
By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- E-commerce
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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