Eye Melanoma Market Size Worth USD 9.56 Billion in 2032 | Emergen Research

Vancouver, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The global eye melanoma market size was USD 4.35 billion in 2022 and is expected to register a revenue CAGR of 8.3% during the forecast period. Eye melanoma market revenue growth can be attributed to increasing prevalence of eye cancer across the globe, numerous Research & Development (R&D) activities by market players, and rising demand for minimally invasive treatment procedures for treatment of eye cancers.

Medical technology is shaping the future of ophthalmology industry, which includes significant advancements in the development of advanced eye melanoma screening tools and devices. Major market players are contributing towards upgrading product portfolio by the development of these products. For instance, on 14 August 2023, The HEPZATO KIT (melphalan/Hepatic Delivery System) from Delcath Systems, Inc. received approval from the US Food and Drug Administration (FDA). This approval is specifically for the treatment of adult patients dealing with unresectable hepatic-dominant metastatic uveal melanoma.

According to the American Cancer Society, the choroid produces about 9 out of 10 eye melanomas. One of the significant reasons for the increment is supposed to be the ascent in the utilization of electronic gadgets. This might be because of harmful UV radiation that straightforwardly influences the eyes of users of cell phones, tablets, desktops, PCs, and other electronic gadgets. For instance, as per the American Cancer Society, people aged 60 years or more spend at least 5 hours each day utilizing laptops & desktops for internet browsing, which increases the prevalence of eye melanoma and is driving revenue growth of the global market.

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The recent trend for expanding use of notable biomarkers, including blood biomarkers, for the diagnosis and treatment of eye melanoma is creating opportunities for revenue growth of the global eye melanoma market. For instance, on 16 November 2022, as per the study published in MedPage Today, circulating tumor DNA (ctDNA) is being commonly used as a biomarker to track the status and progression of disease in many other cancers including eye cancers.

High cost associated with these eye melanoma treatments, along with lack of awareness regarding the early signs of eye cancer among individuals are expected to hamper revenue growth of the eye melanoma market. Due to its high cost, middle-class patients may not be able to afford the treatment. Early-stage eye cancer detections are crucial and much easier to treat.

Segment Insights

Site Insights:

On the basis of site, the global eye melanoma market is segmented into, uvea, conjunctiva, sclera, retina, and others.

The uvea melanoma segment accounted for largest revenue share in 2022. This is attributable to complete or partial loss of vision, blurred vision, or double vision, seeing floating spots, squiggly lines, or flashes of light. Eye melanoma is often called uveal melanoma. That is because around 95% of all eye melanoma starts in the uvea. In about 50% of people with uveal melanoma, the disease spreads to other parts of the body. Approximately 90% of the time, the melanoma spreads to the liver. It can also spread to other areas, including the lungs, skin, soft tissue, bone, and brain.

Treatment Insights:

On the basis of treatment, the global eye melanoma market is segmented into radiation therapy, surgery, laser therapy, immunotherapy, and others.

The radiation therapy segment accounted for largest revenue share in 2022. High demand for eye melanoma treatment using radiation therapy stems from its effectiveness in targeting and eliminating cancerous cells while preserving healthy surrounding tissues in the eye. Eye melanoma, a rare but serious form of cancer that develops in the pigment-producing cells of the eye, requires specialized treatment modalities to prevent the spread of the disease and preserve vision.

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End-Use Insights:

On the basis of end-use, the global eye melanoma market is segmented into hospitals & clinics, academic institutes, others.

The hospitals & clinics segment accounted for the largest revenue share in 2022 due to high increasing footfalls in hospitals & clinics for treatment of eye melanoma among patients owing to their broad frameworks, different scopes of methodology, specialized expertise, cooperative consideration approach, exploration, and development. Medical clinics have trained professionals for handling advanced ophthalmology-related procedures giving a complete scope of services to address and satisfy the issues of different patient populaces.

Regional Insights:

North America accounted for a relatively larger Market share than other region In the global eye melanoma market in 2022. The revenue growth of the market in this region because of increasing use of gadgets such as laptops, and PCs in the workplace leading to eye issues such as blurred vision, eye cancers, rising inclination of children and teenagers towards mobiles & laptops, and the developing geriatric populace. Rising cases of eye issues in the United States are triggering the requirement for effective treatment. According to the American Cancer Society, by the end of 2021, total of 3,320 eye cancers including new eye and orbit cancers (primarily melanomas) cases, were estimated to be recorded, out of which 1,750 in men and 1,570 in women.

Europe accounted for second-largest Market share in 2022. The revenue growth of the market in this region because of strong presence of an extensively evolved drug industry, rising demand for eye-related treatment, and increasing geriatric populace. For instance, on 25 February 2022, According to European Medicines Agency, out of every million, 5 to 11 people are affected by uveal melanoma. Also, development is ascribed to rising volume of ophthalmology procedures, advancements in surgeries are one of the factors responsible for revenue growth of the market in Europe.

Scope of Research

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Major Companies and Competitive Landscape

The global eye melanoma market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective eye melanoma solutions.

Some major players included in the global eye melanoma market report are:

• AbbVie Inc.
• Amgen Inc.,
• Astra Zeneca plc
• Bayer AG
• Bristol-Myers Squibb Company
• Carl Zeiss AG
• Castle Biosciences, Inc.
• Eli Lilly & Co.
• F. Hoffmann-La Roche Ltd,
• Gilead Sciences, Inc.
• GlaxoSmithKline Plc
• Johnson & Johnson Services, Inc.
• Koninklijke Philips N.V,
• Merck
• Novartis AG
• Optovue Incorporated
• Pfizer, Inc.
• Roche
• Sanofi
• Siemens
• Spectrum Pharmaceuticals, Inc.
• Others

Strategic Development

• On 31 October 2023, The FDA has approved the Swiss company iOnctura to explore a new drug application involving Roginolisib (IOA-244) for the treatment of various conditions, including solid and hematologic malignancies such as uveal melanoma. This approval reflects the company's commitment to advancing research in the field.
• On 22 June 2023, IDEAYA Biosciences, Inc. announced the first reported case of uveal melanoma (UM) patient who was treated with single-agent darovasertib as neoadjuvant therapy and was spared enucleation in an Investigator Sponsored Trial (IST).

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For the purpose of this report, Emergen Research has segmented the global eye melanoma market on the basis of site, treatment, end-use, and region:

• Site Outlook (Revenue, USD Billion; 2019-2032)

• • Uvea
  • Conjunctiva
  • Sclera
  • Retina
  • Others

• Treatment Outlook (Revenue, USD Billion; 2019-2032)

• • Radiation Therapy
  • Surgery
  • Laser Therapy
  • Immunotherapy
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
    • Rest of MEA

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