Major players in the skin cancer drugs market are Novartis AG, Bristol Myers Squibb, Eli Lilly, Meda, Sun Pharmaceutical Industries Ltd, Roche, Aqua Pharmaceuticals, Bausch Health, GlaxoSmithKline PLC and Pfizer Inc.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Skin Cancer Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245023/?utm_source=GNW
The global skin cancer drugs market will grow from $3.03 billion in 2022 to $3.41 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The skin cancer drugs market is expected to grow to $5.23 billion in 2027 at a CAGR of 11.3%.
The skin cancer drugs market consists of sales of vismodegib (Erivedge) and sonidegib (Odomzo).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Skin cancer drugs refer to chemotherapy drugs that are used to treat skin cancer.Skin cancer refers to aberrant skin cell proliferation, which most frequently appears on sun-exposed skin.
However, this prevalent type of cancer can also develop on parts of your skin that are not often exposed to sunlight.Skin cancer can be of various types including actinic keratoses, basal cell carcinoma, squamous cell carcinoma, or melanoma.
Examples of skin cancer drugs include 5-FU, Aldara, and Efudex.
North America is the largest region in the skin cancer drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the skin cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of skin cancer drugs are actinic keratoses (AK), basal cell carcinoma (BCC), squamous cell carcinoma (SCC), and melanoma.Actinic keratoses are broad, rough skin patches that can turn cancerous.
It commonly appears on sun-exposed regions such as the face, scalp, backs of the hands, and chest.It is especially common in fair-skinned persons.
Solar keratosis and senile keratosis are two terms for the same condition. The different classes of drugs include chemotherapy, immunotherapy, targeted agents and other drugs and are used in various sectors such as hospitals, cancer research centers, and clinics.
A significant rise in the prevalence of skin cancer is driving the demand for drugs for Skin Cancer. To treat such high cases of skin cancer, more new innovative skin cancer drugs are being manufactured.in 2022, according to The American Cancer Society, a US-based organization, approximately 99,780 new melanoma skin cancer is diagnosed and approximately 7,650 people are expected to die of melanoma skin cancer every year. . This is boosting the demand for skin cancer drugs and thus driving the market.
The increasing use of biologics and targeted therapies is acting as a restraint in the skin cancer drugs market.The targeted therapies drugs target melanoma cells only.
The chemical drugs attack any fast-dividing cells while targeted therapies only attack the skin cancer-causing melanoma cells.Thus, doctors prefer targeted therapies to treat skin cancer.
This is expected to affect the sales of conventional chemical skin cancer drugs and limit the growth of the market going forward.
Companies in the Skin Cancer Market are increasingly looking for Strategic Alliances with other companies in the market.Strategic Alliance would help companies to enhance their R&D capability, expedite the development process of new drugs, and reinforce their competitive position in the market.
For example, Leo Pharma has formed a strategic alliance with PellePharm, to develop a drug to treat a very rare form of skin cancer called Gorlin syndrome.MorphoSys and LEO Pharma strategically worked together to develop antibodies for the treatment of skin cancer.
Pfizer had entered into a strategic alliance with Merck KGaA to manufacture an innovative drug for skin cancer.
The European Medicines Agency (EMA) is the regulatory body that evaluates and supervises the production and sales of medicines for the safety and benefit of the customer, in the European Union Region.The manufacturers of skin cancer drugs and all other drugs need to comply with manufacturing practices specified by the EMA.
EMA also regulates and supervises the drug quality, checking for the intended use of the drug and whether the drug is meeting the requirement of a clinical trial. EMA also educates the patients regarding the risks associated with taking skin cancer drugs such as Tafinlar and Opdivo, what are the safety measures that are needed to be taken while consuming the drug, the benefits of the drug, and all other relevant information about such drugs.
In April 2022, Regeneron, a US-based biotechnology company acquired Checkmate Pharmaceuticals for $250 million.Through this acquisition, Regeneron expands its research efforts in immuno-oncology potential approaches for difficult-to-treat cancers.
Checkmate Pharmaceuticals is a US-based company operating in skin cancer drugs.
The countries covered in the skin cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The skin cancer drugs market research report is one of a series of new reports that provides skin cancer drugs market statistics, including skin cancer drugs industry global market size, regional shares, competitors with a skin cancer drugs market share, detailed skin cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the skin cancer drugs industry. This skin cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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