Laryngeal Cancer Therapeutics Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the Laryngeal Cancer Therapeutics market size evolved in recent years?
In recent years, the market size for laryngeal cancer therapeutics has experienced significant growth. It’s projected to expand from $3.06 billion in 2024 to $3.27 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.7%. This growth in the historic period is due to various factors such as a rising incidence of laryngeal cancer, advancements in treatment methods, clinical trial activities, government support and funding, as well as enhanced patient awareness and education.
What are the predictions for the laryngeal cancer therapeutics market size in the coming years?
In the coming years, a significant surge is anticipated in the size of the laryngeal cancer therapeutics market, with projections indicating a growth to $4.15 billion in 2029, maintaining an average growth rate (CAGR) of 6.2% annually. The expected growth during this period is associated with advancements in targeted and immunotherapy, the merger of genomic medicine, an increasing elderly population, worldwide health alliances, and a broader scope of telemedicine. The forecast period is also set to witness several key trends such as progressive medical research, advances in immunotherapy, the emphasis on personalized medicine and biomarkers, combination therapies, patient-focused care, and enhancements in healthcare policies and accessibility.
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What key factors are fueling the growth of the laryngeal cancer therapeutics market?
The laryngeal cancer therapeutics market is projected to grow due to the rising prevalence of tobacco use. Tobacco is derived from Nicotiana plants’ leaves and is commonly used for smoking, chewing, and sniffing. Tobacco consumption is a primary risk factor in developing laryngeal cancer and significantly affects its treatment results. The treatment for laryngeal cancer involves strategies to confront the impact of tobacco use on the disease and its management. For example, the 2024 National Youth Tobacco Survey released by the US Food and Drug Administration, a US federal body, reported in October 2024 that approximately 2.25 million, or 1.1% of all students were currently using tobacco products, including 1.58 million high school students (10.1%) and 640,000 middle school students (5.4%). Additionally, about 760,000 students (2.8%) reported current use of any combustible tobacco product, while roughly 840,000 (3.0%) reported use of multiple tobacco products. Hence, the growing prevalence of tobacco use is fuelling the expansion of the laryngeal cancer therapeutics market. The laryngeal cancer therapeutics market is also anticipated to benefit from the increasing demand for chemotherapy. Chemotherapy entails medical treatments using drugs to attack and manage different cancers. It offers considerable value in treating advanced-stage laryngeal cancer by preserving portions of the larynx, limiting laryngeal cancer cell spread, reducing symptoms, and enhancing the patient’s life quality. As of January 2022, the American Cancer Society, a US health organization, estimated that the number of cancer survivors in the US reached 18,060,100 in 2022. Further, UK cancer charity Macmillan Cancer Support reported in June 2022 that three million people were living with cancer in 2022, a figure expected to surge to nearly 3.5 million by 2025 and four million by 2030 in the UK. Thus, the rising demand for chemotherapy is also propelling the laryngeal cancer therapeutics market’s growth.
How is the global laryngeal cancer therapeutics market divided into key segments?
The laryngeal cancer therapeutics market covered in this report is segmented –
1) By Treatment Type: Chemotherapy, Immunotherapy, Other Treatments
2) By Route Of Administration: Oral, Parenteral
3) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
4) By End-User: Hospitals, Homecare, Specialty Centers, Other End-Users
Subsegments:
1) By Chemotherapy: Neoadjuvant Chemotherapy, Adjuvant Chemotherapy, Palliative Chemotherapy
2) By Immunotherapy: Checkpoint Inhibitors, Monoclonal Antibodies, Cancer Vaccines
3) By Other Treatments: Radiation Therapy, Targeted Therapy, Surgery
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Who are the key firms paving the way for growth in the laryngeal cancer therapeutics market?
Major companies operating in the laryngeal cancer therapeutics market report are Pfizer Inc., F. Hoffmann La Roche Ltd., Merck & Co., AbbVie Inc., Novartis AG, Bayer AG, Sanofi-Aventis LLC, Bristol Myers Squibb, AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Eli Lilly and Company, Amgen Inc., C.H. Boehringer Sohn AG & Co. KG., Regeneron Pharmaceuticals Inc., Incyte Corporation, Aurobindo Pharma Ltd., Cipla Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals LLC, Lupin Limited, Seagen Inc., Exelixis Pharmaceuticals Inc., BeiGene Ltd., Taiho Pharmaceutical Co. Ltd., Genentech Inc., Mirati Therapeutics Inc.
Which trends are expected to transform the laryngeal cancer therapeutics market?
Prominent businesses within the laryngeal cancer treatment market are employing innovative technologies such as Zeno AI to cater to a larger customer spectrum for increased sales and revenue. Zeno AI is an AI-powered solution used in real-time cancer detection and classification within the Ear, Nose, and Throat (ENT) area. For example, in September 2022, WSK Medical B.V., an AI software firm based in the Netherlands, introduced ‘Zeno AI’, a real-time AI system for early throat cancer detection. Zeno AI is used during an endoscopic examination of the throat (laryngoscopy) to swiftly locate and classify laryngeal lesions on endoscopic videos. The intention behind Zeno AI is to support ENT surgeons with the early detection and diagnosis of laryngeal cancer, thus reducing analysis duration and facilitating quicker care plans.
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What regions are contributing significantly to the growth of the laryngeal cancer therapeutics market?
North America was the largest region in the laryngeal cancer therapeutics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laryngeal cancer therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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