Skin Cancer Treatment Market Report (2022 to 2030) – Amgen Inc., Pfizer Inc., Merck & Co., Novartis AG and GlaxoSmithKline plc.

Pune, Oct. 17, 2022 (GLOBE NEWSWIRE) — According to the latest report published by Growth Plus Reports, the global skin cancer treatment market is expected to clock at US$ 17.49 billion by 2030 and to grow at a CAGR of 7.4% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Skin Cancer Treatment Market – Global Outlook & Forecast 2022-2030”

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The prevalence of skin cancer among the population is comparatively high among other cancers. Skin cancers, including melanoma, squamous cell cancer, basal cell carcinoma, and others, are caused by the abnormal development of skin cells. For skin cancer treatment, various therapies are employed, including chemotherapy, radiation, phototherapy, etc. The global market for skin cancer treatments is primarily driven by the growing patient population for skin cancer and the improved rates of innovative therapy approvals.

Market Drivers

The global skin cancer treatment market has witnessed promising growth in recent years. This progress can be attributed to the rising prevalence of skin cancer, increasing awareness, growing rates of novel treatment approvals, and rising government initiatives for early detection and treatment. Additionally, a strong product pipeline will also pave the way for further growth opportunities in the market. Conversely, the key market restraints are the side effects of chemotherapy and radiotherapy and the resultant mainstay preference for surgical procedures.

The skin cancer treatment market has been analyzed from four perspectives: type, therapy, end-users, and region.

Excerpts from ‘By Therapy Type Segmentation’

Based on therapies, the global skin cancer treatment market has been segmented into:

• Immunotherapy
• Targeted Therapy
• Radiotherapy
• Chemotherapy
• Others (Photodynamic Therapy, Biological Therapy, Cryotherapy, Etc.)

Currently, chemotherapy leads the global skin cancer treatment market in terms of revenue share. Chemotherapy is a primary method used for treating skin cancer as this method not only kills the targeted cancer cells and eliminates or reduces the risk of spread-out cancer cells (metastasis). These factors contribute to the greater uptake of chemotherapy for skin cancer treatment. However, high side effects and the resultant preference for surgical procedures challenge the growth of chemotherapy and radiation therapy segments.

The immunotherapy segment is anticipated to witness rapid growth during the forecast period. Immunotherapy focuses on boosting the patient’s immune system, thereby destroying the cancerous cells with the help of the immune system. Also, immunotherapy has minimal side effects on the patients, making it a more suitable option for skin cancer treatment, thus indicating the rapid adoption of immunotherapy.

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Excerpts from ‘By Region Segmentation’

The global skin cancer treatment market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

North America leads the global market with the largest revenue share owing to the high prevalence of skin cancer and increased drug and treatment approvals. Additionally, heightened technological innovations and the presence of multiple market players further establish the dominance of the North American market.

On the other hand, the Asia Pacific skin cancer treatment market shall be progressing rapidly. This growth can be attributed to the increasing government initiatives on early diagnosis and treatment of skin cancer and the high uptake of generic medicines. Furthermore, rapidly developing healthcare infrastructure and growing medical tourism in the Asia Pacific contributes to the market development.   

Excerpts from ‘Competitive Landscape’

Prominent players operating in the skin cancer treatment market are

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