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How has the advanced melanoma market size evolved in recent years?

In recent times, the market size for advanced melanoma has seen substantial growth. Projection indicate an increase from $3.77 billion in 2024 up to $4.13 billion by 2025, indicating a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this growth within this historic period include endorsement of dacarbazine, advancements in interferon therapy, the launch of ipilimumab, increased utilization of radiation therapy, the inception of combination therapies, sanction of nivolumab, and the introduction of pembrolizumab.

What are the predictions for the advanced melanoma market size in the coming years?

The market for advanced melanoma is on track for substantial expansion in the coming years, shooting up to $5.90 billion in 2029 with a CAGR of 9.3%. This projected growth can be traced back to factors such as the rise of revolutionary checkpoint inhibitors, the growing adoption of personalized medicine and advancements in adoptive cell therapy. Other factors to be considered include an increasing preference for combination therapies, the emergence of bispecific antibodies, the expansion of oncolytic virotherapy, and an intensified focus on early detection methods. Significant trends to watch for include the advent of AI-supported diagnostic solutions, mRNA-oriented cancer vaccines, crispr-driven gene editing, development in oncolytic virus engineering, advances in liquid biopsy technologies, the proliferation of wearable health monitoring devices, cutting-edge imaging techniques, the use of 3d bioprinting for research, modeling of the tumor microenvironment, and nanotechnology-enabled drug delivery systems.

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What key factors are fueling the growth of the advanced melanoma market?

The rise in severe sunburn incidents is predicted to fuel the expansion of the advanced melanoma market. Severe sunburns are harsh skin burns triggered by excessive exposure to ultraviolet (UV) radiation, leading to symptoms such as redness, pain, swelling, and occasional blistering. The growing prevalence of severe sunburn is linked to extended exposure to ultraviolet (UV) radiation, inadequate sun protection methods, increased outdoor activities during the peak UV hours, and elevated temperatures due to global warming. Repeated or early-age severe sunburns have been found to inflict DNA damage in skin cells, potentially causing genetic mutations leading to melanoma. For example, Melanoma Focus, a UK charity committed to supporting individuals affected by melanoma, reported in May 2024 that there were 201 hospitalizations due to sunburn in the 2022-23 period, which included 89 children and 25 infants under a year old. Additionally, 66% of UK adults aged between 16 and 65 recalled having sunburns during their childhood, and 65% had experienced severe sunburn with blisters at least once. For those with light, pale, or white skin tones, this proportion increased to 77%. Consequently, the rise in severe sunburn cases is a key factor propelling the advanced melanoma market’s growth.

How is the global advanced melanoma market divided into key segments?

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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Who are the key firms paving the way for growth 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

How are evolving market trends shaping advanced melanoma Strategies?

Leading firms in the advanced melanoma market are concentrating their efforts on innovating new products, like personalized vaccines, in order to enhance treatment effectiveness, tackle resistance mechanisms and provide tailor-made treatment possibilities that could lead to superior patient results and longer survival. Specifically, personalized vaccines meant for advanced melanoma are cancer treatments created uniquely for every individual patient, based on the unique genetic mutations found in their tumor. For example, Merck & Co. Inc., a pharmaceutical company located in the US, and Moderna Inc., a US-based biotechnology firm, earned Priority Medicines (PRIME) scheme approval from the European Medicines Agency (EMA) for their experimental personalized mRNA cancer vaccine, mRNA-4157/V940, in April 2023. This was granted when used in combination with Merck’s anti-PD-1 therapy, KEYTRUDA (pembrolizumab) for the adjuvant treatment of high-risk stage III/IV melanoma patients post their complete resection. The personalized cancer vaccine mRNA-4157/V940 includes a single synthetic mRNA coding for up to 34 neoantigens and is designed and manufactured according to the patient’s unique tumor mutational signature.

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What regions are contributing significantly to the growth of 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.

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