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

In recent times, the melanoma therapeutics market size has seen fast growth. It is projected to escalate from $4.05 billion in 2024 to $4.51 billion in 2025, with a compound annual growth rate (CAGR) of 11.4%. This growth during the historic period is linked to changes in therapy guidelines, heightened awareness and early detection, regulatory authorizations and clinical trials, the development of combination therapies, and advancements in surgical methods.

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

In the coming years, we can anticipate a swift expansion in the melanoma therapeutics market. It’s predicted to reach a value of “$6.84 billion by 2029, with a compound annual growth rate (CAGR) of 10.9%. This growth over the predicted period can be credited to factors such as the emergence of new treatment modalities, advancement in personalized medicine, biomarker identification, and support from regulatory bodies for innovation and enhancements in immunotherapy. The major trends during this forecast period include evolution in treatment guidelines, incorporations of telemedicine in oncology, heightened patient advocacy and awareness, progressive biomarker research, and the advent of combination therapies.

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

The melanoma therapeutics market is set for expansion due to an increase in melanoma cases. Melanoma is a type of skin cancer that originates from melanocytes and melanoma therapeutics involve the use of drugs and treatments to help patients manage this cancer. So, a rise in melanoma cases naturally results in a surge in the demand for melanoma therapeutics. For instance, the Australian Institute of Health and Welfare, an agency providing statistics and information on Australia’s health and welfare, reported in August 2024 that approximately 209,000 new cancer diagnoses are projected by 2034 in Australia, seeing a considerable rise from the anticipated 169,000 cases in 2024. This increases indicates the ramifications of a growing population and escalating cancer rates. Moreover, by 2024, it’s forecasted that cancer will be responsible for nearly 3 out of every 10 deaths in the country. Thus, the rising cases of Melanoma fuel the growth of the melanoma therapeutics drug market.

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

The melanoma therapeutics market covered in this report is segmented –

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, Lentigo Maligna Melanoma, Acral Lentiginous Melanoma, Amelanotic Melanoma, Other Cancer Types

5) By Diagnosis: Dermatoscopy, Sentinel Lymph Node Biopsy, Blood Test, X-ray, Ultrasound, CT Scan

Subsegments:

1) By Monoclonal Antibodies: Checkpoint Inhibitors, Targeted Monoclonal Antibodies, Conjugated Antibodies

2) By Small Molecule Inhibitors: BRAF Inhibitors, MEK Inhibitors, Other Kinase Inhibitors

3) By Other Drug Types: Chemotherapy Agents, Immunotherapy Agents, Adjuvant Therapies

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Who are the key firms paving the way for growth in the melanoma therapeutics market?

Major companies operating in the melanoma therapeutics market include AstraZeneca plc, Eli Lilly and Company, Merck & Co. Inc., Novartis AG, Sanofi S.A., AB Science S.A, Amgen Inc., Daiichi Sankyo Company Limited, F. Hoffman-La Roche Ltd., Pfizer Inc., Bayer AG, AbbVie Inc., Johnson & Johnson Private Limited, The Bristol-Myers Squibb Company, Nektar Therapeutics, Immutep Ltd., Partner Therapeutics lnc., Idera Pharmaceuticals Inc., Oncolys BioPharma Inc., Iovance Biotherapeutics lnc., AIM ImmunoTech Inc., Infinity Pharmaceuticals lnc., Spring Bank Pharmaceuticals lnc., Incyte Corporation, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Eisai Co.Ltd., Seattle Genetics Inc., Regeneron Pharmaceuticals Inc., Bio-Rad Laboratories Inc., Myriad Genetics Inc.

Which trends are expected to transform the melanoma therapeutics market?

The growing trend of product innovation is increasingly noticeable within the melanoma therapeutics market. Prominent players are producing novel and advanced therapies to bolster their market standing. For example, in January 2022, Immunocore, a biotechnology firm based in the UK, created KIMMTRAK (tebentafusp-tebn), which received the FDA’s approval for the treatment of metastatic uveal melanoma. KIMMTRAK, having completed a successful phase 3 clinical trial, is the first and only approved therapy for treating unresectable or metastatic uveal melanoma, showcasing an overall survival duration of nearly 22 months. It is an innovative bispecific protein that combines anti-CD3 immune-effector activity and a soluble T cell receptor. It holds the distinction of being the first compound developed using Immunocore’s ImmTAC technology platform, which seeks to redirect and activate T lymphocytes for the detection and eradication of tumor cells.

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What regions are contributing significantly to the growth of the melanoma therapeutics market?

North America was the largest region in the melanoma therapeutics market in 2024. The regions covered in the melanoma therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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