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Melanoma Drugs Market Trends

Report ID: GMI8769
Published Date: Mar 2024
Report Format: PDF

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Melanoma Drugs Market Trends

Rising number of melanoma cases globally, is a significant driver of the market. Melanoma is one of the most aggressive forms of skin cancer and has been on the rise globally over the past few decades.
For instance, as per the American Cancer Society, in 2023, there were an estimated 186,680 new cases of melanoma diagnosed in the U.S. Additionally, there were 7,990 deaths from melanoma in the same year.
Factors such as excessive exposure to ultraviolet (UV) radiation from the sun, a history of sunburns, genetic predisposition, and a compromised immune system contribute to the increasing incidence.
Thus, as the prevalence of melanoma grows, there is a greater demand for effective treatments. This has led to a surge in research and development activities aimed at discovering novel therapies and improving existing treatment options.
Therefore, the expanding patient pool, coupled with advancements in drug development, is propelling the growth of the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Melanoma drugs industry size was valued at USD 3.6 billion in 2023 and is expected to record USD 7.5 billion by 2032, attributed to the increasing incidence of melanoma globally, particularly in regions with high levels of ultraviolet (UV) radiation exposure.

Immunotherapy drugs segment size reached USD 1.6 billion in 2023, due to their remarkable efficacy and relatively favorable safety profiles compared to traditional treatments.

Demand for branded melanoma drugs is expected to reach USD 6.9 billion by 2032, driven by their strong brand recognition, extensive marketing efforts, and perceived efficacy and safety profiles.

North America recorded 39.2% of the global melanoma drugs market share in 2023 and may reach USD 2.9 billion by 2032, due to the advanced healthcare infrastructure, high awareness levels regarding melanoma, and significant R&D investments in oncology.