The most recent market sizing data for the year 2023, with projections up to 2032, have been incorporated into The Business Research Company’s comprehensive global market reports.

According to The Business Research Company’s Melanoma Therapeutics Global Market Report 2023, the global melanoma therapeutics market is set to witness substantial expansion within the forecasted period.

Anticipated growth envisions the global melanoma therapeutics market to escalate from $3.29 billion in 2022 to $3.67 billion in 2023, reflecting a compound annual growth rate (CAGR) of 11.7%. It is further projected that by 2027, the global melanoma therapeutics market will reach a size of $5.57 billion, driven by a CAGR of 11.0%.

In 2022, North America emerged as the leader in terms of melanoma therapeutics market share.

Driving Factor:
The escalating incidence of melanoma is poised to propel the growth of the melanoma therapeutics market. Melanoma, a skin cancer originating from melanocytes, necessitates therapies and drugs for cancer patients’ relief. Thus, the rising prevalence of melanoma augments the demand for melanoma therapeutics. For instance, according to the World Health Organization’s data in May 2022, approximately 57,000 melanoma-related fatalities and 325,000 new cases were expected to surface globally in 2020. Moreover, scientists from the International Agency for Research on Cancer (IARC) forecasted that cutaneous melanoma cases will witness a surge of over 50% annually, exceeding 500,000 cases, while melanoma-related deaths are predicted to escalate by more than two-thirds, reaching nearly 100,000 cases annually between 2020 and 2040. This surge in melanoma instances is instrumental in propelling the growth of the melanoma therapeutics market.

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Notable Trend:
Product innovations have emerged as a significant trend gaining momentum within the melanoma therapeutics market. Leading market players are investing efforts in developing novel therapies to bolster their market standing. A notable example includes Immunocore, a UK-based biotechnology company, which unveiled KIMMTRAK (tebentafusp-tebn) in January 2022. The FDA granted approval for KIMMTRAK to treat metastatic uveal melanoma. This breakthrough therapy, following a successful phase 3 clinical trial demonstrating an overall survival of nearly 22 months, is the first approved for treating unresectable or metastatic uveal melanoma. KIMMTRAK, a novel bispecific protein endowed with anti-CD3 immune-effector activity linked to a soluble T cell receptor, stems from Immunocore’s ImmTAC technology platform. This technology aims to activate T lymphocytes for the identification and elimination of tumor cells.

Prominent Market Players:
Key players within the melanoma therapeutics market include AstraZeneca PLC, Bristol-Myers Squibb Co., Eli Lilly and Company, Merck & Co. Inc., Novartis AG, Hoffmann-La Roche AG, Sanofi S.A., AB Science S.A, Amgen Inc., Daiichi Sankyo Company Limited, F. Hoffman-La Roche Ltd., Pfizer Inc., GlaxoSmithKline PLC, Bayer AG, AbbVie Inc., and Johnson & Johnson Private Limited.

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Key Melanoma Therapeutics Market Segments
1) By Drug Type: Monoclonal Antibodies, Small Molecule Inhibitors, Other Drug Types
2) By Therapy: Surgery, Radiation Therapy, Immunotherapy, Targeted Therapy, Chemotherapy
3) By Route of administration: Oral, Injectable
4) By Cancer Type: Superficial Spreading Melanoma, Nodular Melanoma, Lentigno Maligna Melanoma, Acral Lentiginous Melanoma, Amelanotic Melanoma, Other Cancer Types
5) By Diagnosis: Dermatoscopy, Entinel Lymph Node Biopsy, Blood Test, X-ray, Ultrasound, CT Scan

The Melanoma Therapeutics Global Market Report 2023  offers a comprehensive overview of the melanoma therapeutics market’s size, trends, drivers, opportunities, strategies, and company analyses. The countries featured in the report encompass Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The primary seven regions covered are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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