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What Long-Term Growth Rate is Expected for the Advanced Melanoma Market Between 2025 and 2034?

The market size for advanced melanoma has seen a robust growth in the past few years. This market is projected to expand from $3.77 billion in 2024 to $4.13 billion in 2025, recording a compound annual growth rate (CAGR) of 9.4%. Factors that contributed to the growth during the historical period include the authorization of dacarbazine, the progression of interferon therapy, the introduction of ipilimumab, the adoption of radiation therapy, the development of combination therapies, the approval of nivolumab, and the debut of pembrolizumab.

Expectations are high for the advanced melanoma market and it is predicted to undergo robust growth in the coming years. The worth of the market is set to increase to $5.90 billion by 2029, with a compound annual growth rate (CAGR) of 9.3%. The expansion in the forecasted period can be credited to the innovation of new checkpoint inhibitors, the growing preference for personalized medicine, advancements in adoptive cell therapy, the increasing application of combination therapies, the introduction of bispecific antibodies, the broadening use of oncolytic virotherapy, and an increasing emphasis on preliminary detection tools. The forecast period is also expected to witness emerging trends like AI-based diagnostic tools, mRNA-based cancer vaccines, CRISPR-based gene editing, oncolytic virus engineering, liquid biopsy technologies, wearable devices for health monitoring, advanced imaging techniques, 3D bioprinting for research, tumor microenvironment modelling, and nano-technology based drug delivery systems.

How Are the key drivers expanding the growth of the Advanced Melanoma Market?

The advanced melanoma market’s expansion is projected to be propelled by a rising incidence of severe sunburns. Excessive exposure to ultraviolet (UV) radiation results in severe sunburns, causing intense skin burns, redness, pain, swelling, and occasionally, blisters. The growing number of severe sunburn cases can be attributed to extended UV radiation exposure, insufficient sun protection measures, increased outdoor activities during peak UV hours, and hotter temperatures resulting from climate change. DNA damage in skin cells caused by severe sunburns, particularly recurring or early age cases, can lead to genetic mutations igniting melanoma. For example, as reported by Melanoma Focus, a UK charity dedicated to the melanoma community, in May 2024, there were 201 hospital admittances due to sunburn in 2022-23, which included 89 kids and 25 infants under one year of age. Moreover, 66% of UK adults aged 16-65 remembered getting sunburned during their childhood, and 65% had experienced extreme sunburn with blisters at least once. The figure escalated to 77% for individuals with light, pale, or white skin. Thus, the rising incidence of severe sunburn cases fuels the advanced melanoma market’s growth.

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What Are the Key Firms That Are Driving Transformation in the Advanced Melanoma Market?

Major companies operating in the advanced melanoma market are Pfizer Inc., F Hoffmann-La Roche Ltd, Merck & Co. Inc., Bristol-Myers Squibb, AstraZeneca AG, Novartis AG, GlaxoSmithKline Plc, Amgen Inc., BioNTech SE, Regeneron Pharmaceuticals, Genentech Inc., Exelixis Inc., Dynavax Technologies, Replimune Group, Immunocore Holdings plc, Xencor Inc., Agenus Inc., Nektar Therapeutics, Iovance Biotherapeutics, Adaptimmune Therapeutics, Immutep Ltd., Lytix Biopharma

What Current Trends in the Advanced Melanoma Market Should Industry Players Pay Attention To?

Leading organizations in the advanced melanoma market are concentrating on the creation of innovative products such as personalized vaccines. This is in a bid to enhance treatment efficiency, counteract resistance mechanisms, and provide customized treatment solutions that could result in improved patient results and extended survival. Personalized vaccines for advanced melanoma are specifically designed cancer treatments for each patient, taking into account the distinct genetic mutations in their tumor. For example, Merck & Co. Inc., a pharmaceutical company based in the US, in collaboration with Moderna Inc., a US-based biotech firm, earned Priority Medicines (PRIME) scheme recognition from the European Medicines Agency (EMA) in April 2023. This was for their experimental personalized mRNA cancer vaccine, mRNA-4157/V940, when used with Merck’s KEYTRUDA (pembrolizumab), an anti-PD-1 therapy, as an adjuvant treatment in patients with Stage III/IV melanoma at high risk following total resection. mRNA-4157/V940, the personalized cancer vaccine, consists of a solo synthetic mRNA that codes for up to 34 neoantigens, and its design and production are based on the patient’s tumor unique mutational signature.

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How Are Market Segments in the Advanced Melanoma Industry Positioned for Long-Term 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

What Regions Are Driving Expansion in the Advanced Melanoma 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.

What Key Parameters Define the Advanced Melanoma Market’s Scope?

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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