Melanoma Drugs Market worth USD 4.71 Billion by 2022

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Zion Market Research has published a new report titled “Melanoma Drugs Market by Therapy (Chemotherapy, Immunotherapy and Targeted Therapy) and Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global melanoma drugs market was valued at approximately USD 2.04 billion in 2016 and is expected to generate revenue of around USD 4.71 billion by end of 2022, growing at a CAGR of around 15.0% between 2016 and 2022.

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Melanoma is the type of cancer, in which the normal melanin-producing cells called melanocytes are turned into cancerous cells. Melanoma is usually, but not always cancer of the skin and is the most dangerous type of cancer. Mutation in melanin-producing melanocytes leads to uncontrolled division of cells forming the malignant tumor. Mainly there are three general categories of melanoma as Cutaneous, mucosal and ocular. Cutaneous melanoma is melanoma of the skin and is most common because most pigment cells are found in the skin. Mucosal melanoma is melanoma of mucous membrane of the body, including the mouth, the nasal passages, the throat, the vagina or the anus. The rare ocular melanoma or uveal melanoma occurs in the eye.

Global melanoma drugs market is primarily driven by growing incidences of target disease across the globe. Other major driving factors are the development of novel agents and combination therapy with lesser side effects and better survival. However, the high price of combination therapies and clinical trials coupled along with possible adverse events or side effects are the major restraints that may limit the growth of the market. Nonetheless increasing focus on personalized medicine coupled along with huge investment in anti-melanoma drugs research across the globe are likely to disclose the new avenues for melanoma drugs market in the near future.

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The melanoma drugs market is segmented on the basis of the different therapeutic segment including chemotherapy, immunotherapy and targeted therapy. FDA approved immunotherapy agents such as pembrolizumab and nivolumab, which are under pipeline studies of many key players. Thus immunotherapy segment is expected to grow at the fastest rate during the forecast period.

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global melanoma drugs market. North America is anticipated to remain the leading region over the forecast period. Demand for melanoma drugs was highest in North America especially in the U.S. Hence, Asia Pacific is expected to be the moderate growing region in melanoma drugs market during the forecast period. Moreover, the Middle East and Africa and Latin America are also expected to show moderate growth for this market in the years to come.

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Some of the key players in Melanoma drugs market include Amgen, Bristol-Myers Squibb, Hoffmann-La Roche Ltd, Genentech Inc., Janssen Biotech, Inc., Novartis International AG., Pfizer, Sanofi, Takeda Pharmaceutical Company Limited and Teva Pharmaceuticals among others.

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