The size of the melanoma therapeutics market in the Asia Pacific was worth USD 0.91 billion in 2022 and is estimated to be growing at a CAGR of 16.40%, to reach USD 1.94 billion by 2027.
The melanoma market has seen an unparalleled boost in market size, owing to a vigorously developing nature of melanoma treatments over the recent past.
The elevated demand for innovative early-stage and advanced melanoma treatments along with a thriving patient base has generated an imminent need for improved therapies in the melanoma market. Even though many treatment choices are accessible today, various immunotherapies and combination therapies are anticipated to arrive on the market. Significant acceptance of these new treatments is projected due to their enhanced survival benefits and negligible side effects.
The growth of the Asia-Pacific Melanoma Therapeutics market is mainly due to the rise in melanoma cases and growing awareness towards it.
The APAC Melanoma therapeutics market is expected to be driven by the factors such as the increase in the incidences of melanoma cases among the people, growing awareness, and rising demand for melanoma therapeutics across the region. In addition, melanoma is one of the fastest-growing skin cancers in China, with high invasiveness and increased mortality rate among people is also expanding the market's growth.
In addition, the growing geriatric population, technological advancements in the treatment for developing innovative and enhanced therapies for treating melanoma are expected to fuel the market growth. Moreover, the initiatives taken by the government for creating healthcare awareness among the people are expected to influence the market growth positively.
On the other hand, the increasing investment and funding by the government and non-government for infrastructure development are expected to enable new market entrants. Key market players in the region are significantly focussing on the research activities for developing effective therapies and drugs for treating melanoma. The specific cause for this disease is more likely to provide lucrative growth opportunities for the market players. Exposure to ultraviolet radiation from the sunlight or beds raises the risk of developing melanoma. Also, the increasing awareness among people for pre-diagnosing the disease and its benefits are accelerating the growth rate of the APAC melanoma therapeutics market.
However, the increase in the high costs of the treatment and therapies of melanoma disease with the lack of poor reimbursements policies are restraining the market growth of the melanoma therapeutics market. In addition, the lack of accessing facilities and well-developed healthcare facilities are also hindering the market's growth. Furthermore, the strict government rules and regulations and stringent approval policies make the entry of the product more complex and hamper the market's growth. Also, the lack of awareness among the people about the treatment and therapies available in the market limits the development of melanoma therapeutics in the market in the APAC region.
This research report on the APAC melanoma therapeutics market has been segmented and sub-segmented into the following categories:
By Cancer Stage:
By Cancer Type:
The Asia-Pacific Melanoma Therapeutics market is projected to grow at the highest CAGR during the forecast period due to reasons such as a large population base and the rising prevalence of melanoma. China is the largest market for Melanoma Therapeutics in this region, followed by India.
APAC countries such as China and India are estimated to have lucrative growth in the market due to a high population and the increase in the prevalence of rising melanoma cases in the region. Also, the rise in awareness about the effects and the factors that causes melanoma with the treatment and therapies available in the market is propelling the market growth.
In Australia, melanoma is the third most common cancer and other skin cancer, as skin cancer accounts for 80 percent of all newly diagnosed cancers every year. Therefore, the number of new cases of melanoma in 2022 is expected to grow by 5.8 percent, which will help increase the demand for the market growth of melanoma therapeutics.
KEY MARKET PLAYERS:
A few promising companies operating in the APAC melanoma therapeutics market profiled in this report are Bristol-Myers Squibb Co., Merck and Co., F. Hoffmann-La Roche, Amgen Inc., Celgene Corp, Daiichi Sankyo, and Pfizer Inc.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com