Seattle, WA -- (SBWIRE) -- 11/11/2019 -- The cancer of melanocytes— a type of pigment cells – is known as melanoma. A major factor causing this skin cancer is high exposure to ultraviolet rays. There are three types of melanoma that include, cutaneous, mucosal, and ocular. Cutaneous melanoma is the cancer of skin, mucosal melanoma of mucous membrane in the mouth and nasal passage, and ocular melanoma of eye. Early diagnosis and treatment can increase survival rate in melanoma. Melanoma spreads to other body parts as well, thereby increasing the complexity of treatment. Rare genetic conditions such as xeroderma pigmentosum also increase the risk of melanoma. The condition is diagnosed with biopsy of any skin lesion.
Increasing prevalence of melanoma is expected to propel growth of the market. For instance, according to Cancer Research Institute, in 2016, there were around 76,000 people diagnosed with melanoma in the U.S. Moreover, increasing R&D of drugs for the treatment of melanoma is expected to boost growth of the global melanoma treatment market over the forecast period. For instance, drugs such as seviprotimut-L by Polynoma, talimogene laherparepvec (T-VEC) by Amgen Inc., and zelboraf by Roche and Genetech are under development for the treatment of cutaneous melanoma. Selumetinib by AstraZeneca is under development for the treatment of ocular melanoma.
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In 2011, Yervoy, a monoclonal antibody drug was developed by Bristol-Myers Squibb for the treatment of melanoma and was the first drug to receive The U.S. FDA approval. Moreover, immunotherapy drugs such as opdivo and keytruda received the U.S. FDA approval.
Increasing use of targeted therapy, which include BRAF inhibitors in the treatment of melanoma is also expected to boost growth of the market. Targeted therapy has low adverse effects compared to chemotherapy. Moreover, increasing adoption of combination therapies is also contributing to the market growth. Combination therapies have low side effects and offer better outcomes. Increasing focus on personalized medicine and anti-melanoma drugs is expected to boost growth of the market over the forecast period.
The market in North America is expected to account for the largest market share over the forecast period, owing to factors such as high prevalence of melanoma, favorable reimbursement policy, increasing per capita income, developed healthcare sector, and increasing R&D activities in the region for melanoma drugs. The market in Europe is driven by increasing cases of melanoma and R&D of new therapies. Moreover, Europe is expected to account for the second largest market share over the forecast period. Fewer cases of skin cancer, lack of awareness, and high cost of melanoma drugs is expected to lead to moderate growth of the market in Asia Pacific.
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Major players operating in the global melanoma treatment market include, Amgen Inc., Sanofi, Merck & Co. Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Polynoma LLC, AstraZeneca, Takeda Pharmaceutical Company, Genetech Inc., and Novartis AG.
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