Global Melanoma Therapeutics Market Value Forecast to Treble by 2020
LONDON, June 15, 2015 /PRNewswire/ --
Rising melanoma treatment population, evolving therapy algorithms, and continued uptake of new market entrants to drive growth, says GBI Research.
Analysis from business intelligence provider GBI Research - Melanoma Therapeutics Market to 2020- says that the global melanoma treatment market value will increase from $1.3 billion in 2013 to $3.6 billion by 2020, at an impressive Compound Annual Growth Rate (CAGR) of 15.4%.
Historically, melanoma has been considered a challenging disease to treat with pharmacotherapy. Cutaneous Melanoma (CM), one of the fastest-growing cancers worldwide, is by far the most common form of melanoma, accounting for approximately 90-95% of all cases.
However, understanding of melanoma pathophysiology and heterogeneity, and particularly CM, has developed considerably in recent years. This has led to the approval of several new drug agents indicated for CM since 2011, which have dramatically improved treatment options for patients and led to unprecedented market growth.
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Despite advances in melanoma therapy development, significant unmet needs remain, such as improved targeted treatment options for specific disease sub-sets, along with drugs that exhibit lower toxicity and more durable efficacy than currently-marketed therapies.
Analyst Fiona Chisholm: "The fastest melanoma therapeutics market growth will occur in Japan, the only major arena that remains largely dominated by generic drugs. As there are fewer treatment options and greater unmet needs, there will be a more positive impact on this market from new entrants with superior safety and efficacy profiles, in comparison to conventional chemotherapy drugs.
"Following Opdivo and Zelboraf's approvals in Japan in July and December 2014, respectively, Tafinlar, Mekinist and Yervoy are also likely to be approved by 2020 and will command premium pricing. As a result, the Japanese market will experience rapid and unprecedented expansion over the forecast period."
Key Findings Include:
- Surgery is the primary treatment option for most patients with resectable, early-stage melanomas. Patients with a high risk of recurrence following surgical resection, or those with unresectable or metastatic disease, are mostly treated with pharmacotherapy
- Since 2011, the advanced CM therapeutics market has become highly competitive due to the emergence of revolutionary immune checkpoint inhibitors and targeted therapies. Yervoy and Zelboraf were the first-to-market agents in these drug classes, respectively, and have since achieved significant sales revenues
- The current melanoma pipeline is strong and highly innovative, with several promising molecules in late-stage development having the potential to address important, unmet patient needs
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About GBI Research
GBI Research is a leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key healthcare industry influencers to ensure you stay up-to-date with the latest market trends.
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SOURCE GBI Research
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