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What Are the Projected Market Size and Growth Rates for the Advanced Melanoma Market From 2025 To 2029?

In recent times, there has been substantial growth in the advanced melanoma market. The market, which is worth $3.77 billion in 2024, is projected to inflate to $4.13 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 9.4%. Factors contributing to this upsurge during the aforementioned period include the authorization of dacarbazine, the progression of interferon therapy, the presentation of ipilimumab, increased use of radiation therapy, the advent of combination therapies, the endorsement of nivolumab, and the introduction of pembrolizumab.

In the upcoming years, the advanced melanoma market is anticipated to experience robust growth. It is projected to expand to $5.90 billion in 2029 with a compound annual growth rate (CAGR) of 9.3%. Factors contributing to the projected growth during the forecast period include advancements in novel checkpoint inhibitors, personalized medicine, adoptive cell therapy development, increased use of combination therapies, bispecific antibodies emergence, oncolytic virotherapy expansion and an increased attention on early detection tools. Key trends during this period are expected to be AI-based diagnostic tools, mRNA-based cancer vaccines, gene editing via crispr, engineering of oncolytic viruses, liquid biopsy technologies, wearable devices for health monitoring, advanced techniques for imaging, research via 3D bioprinting, modeling of tumor microenvironments and nanotechnology-fueled drug delivery systems.

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Which Factors and External Forces Are Driving Demand in the Advanced Melanoma Market?

The upward trend in cases of serious sunburns is anticipated to fuel the expansion of the advanced melanoma market in the future. Intense burns on the skin due to extreme exposure to ultraviolet (UV) radiation, leading to redness, pain, swelling, and occasional blistering, define severe sunburns. The surge in the number of serious sunburn incidences is attributed to prolonged exposure to UV radiation, failure to take appropriate measures for sun protection, escalated outdoor activities during peak UV times, and temperature elevations due to climate change. Serious sunburns, particularly repetitive ones or those happening at an early age, can result in skin cell DNA damage, potentially leading to genetic mutations that instigate melanoma. For instance, Melanoma Focus, a UK-based charity committed to backing the melanoma community, reported in May 2024 that there were 201 hospital admissions due to sunburn in 2022-23, including 89 children and 25 babies below one year of age. Additionally, 66% of UK adults aged 16-65 recollected being sunburned as children, and 65% had experienced serious sunburn with blisters at least once. These figures increased to 77% for those having light, pale, or white skin. As such, the rising instances of severe sunburn cases are promoting the growth of the advanced melanoma market.

Which Segments in the Advanced Melanoma Offer the Most Growth?

The advanced melanoma market covered in this report is segmented –

1) By Therapeutics: Chemotherapy, Biological Therapy, Targeted Therapy, Immune Therapy

2) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy

3) By End-User: Hospitals, Cancer Research Centres, Academic Institutes, Diagnostic Centers, Ambulatory Surgical Centers, Other End Users

Subsegments:

1) By Chemotherapy: Alkylating Agents, Antimetabolites, Topoisomerase Inhibitors, Other Chemotherapy Drugs

2) By Biological Therapy: Monoclonal Antibodies, Interferons, Interleukins

3) By Targeted Therapy: BRAF Inhibitors, MEK Inhibitors, KIT Inhibitors, Other Targeted Therapies

4) By Immune Therapy: Immune Checkpoint Inhibitors, Cancer Vaccines, Oncolytic Virus Therapy, Adoptive Cell Transfer

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What Are the Fastest-Growing Geographies in the #Which Factors and External Forces Are Driving Demand in the Advanced Melanoma Market?# Market?

North America was the largest region in the advanced melanoma market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced melanoma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which Cutting-Edge Market Trends Are Expected to Drive theAdvanced Melanoma Market’s Growth?

Leading corporations in the advanced melanoma market are putting their efforts into creating novel products like personalized vaccines. This will enhance the effectiveness of treatments, providing tailor-made treatment options that could result in improved patient outcomes and an extension of life. A tailor-made vaccine for advanced melanoma is a cancer treatment specifically created for a patient, based on the distinctive genetic alterations present in their cancer. For example, in April 2023, the US-based firms, Merck & Co. Inc. (a pharmaceutical company) and Moderna Inc. (a biotech company), were awarded the Priority Medicines (PRIME) scheme recognition by the European Medicines Agency (EMA). This was for their experimental personalized mRNA cancer vaccine, mRNA-4157/V940, which is employed in conjunction with Merck’s anti-PD-1 therapy, KEYTRUDA (pembrolizumab) for supplementary treatment of high-risk stage III/IV melanoma patient post complete resection. The mRNA-4157/V940, unique cancer vaccine, includes a single synthetic mRNA that codes up to 34 neoantigens. It is formulated and manufactured based on the individual mutational signature of the patient’s tumor.

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What Are the Key Elements That Define the Advanced Melanoma Market?

Advanced melanoma refers to melanoma skin cancer that has spread beyond the original site to other parts of the body. It includes stage III (spread to nearby lymph nodes) and stage IV (metastasized to distant organs l), which is more challenging to treat and often requires a combination of therapies, such as immunotherapy, targeted therapy, chemotherapy, or radiation.

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