The global Metastatic Melanoma Therapeutics market is expected to reach US$ 13,828.9 Mn by 2028 from US$ 6,432.3 Mn in 2020, at a CAGR of 11.6%. The base year considered for the study is 2020 and the forecast period 2021-2028.
Melanoma is a severe form of cancer, commonly known as skin cancer. The population residing at higher altitude levels or in the close proximity to the equator, are the most susceptible to melanoma, as the symptoms are prominently initiated post-exposure to Ultraviolet (UV) radiation that results in blistering sunburns. If diagnosed early in stage 0, melanoma can be surgically cured to almost 100%; however, when the disease metastizes in a body, it becomes strenuous to treat it due to the availability of a restricted range of treatment options. The selection of treatment line or systemic drug therapy entirely depends on the stage of melanoma.
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Metastatic melanoma is the most severe stage (IV) of skin cancer that occurs when melanoma penetrates the skin deeper to reach various parts of a body, predominantly the subcutaneous tissue layer under the skin, lungs, bones, liver, brain, and lymph nodes. In the most severe case of metastasis, the gastrointestinal tract, adrenal glands, spleen, and heart can also be affected. Currently, only a limited set of therapies are available to promisingly treat burgeoning cases of metastatic melanoma patients. The disease thus requires more efficient and effective treatment options.
High incidence of melanoma leading to large patient pool is one major factor driving the global metastatic melanoma therapeutics market growth. Melanoma of the skin is the 19th most prevalent cancer in both men and women, according to the World Cancer Research Fund. Globally, the number of cases reported were nearly 300,000 new cases in 2018, which will boost the growth of global metastatic melanoma therapeutics market.
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The objectives of this study are as follows:
To define, describe, and forecast the global Metastatic Melanoma Therapeutics market by product & service, technique, design, application, end user, and region
To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To analyze market opportunities for stakeholders and provide details of the competitive landscape for the key players
To forecast the size of the market with respect to five regions: North America, Europe, Asia Pacific, and the Rest of the World
To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
To track and analyze competitive developments in the Metastatic Melanoma Therapeutics market, such as agreements, collaborations, acquisitions, product launches, expansions, and R&D activities
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This report segments the Metastatic Melanoma Therapeutics market into product & service, technique, design, application, end user, and region. Based on products & services, the market is segmented into test kits and testing services. In 2020, the test kits segment accounted for the largest share of the total market. The growing demand for Metastatic Melanoma Therapeutics in research as well as diagnostics to understand the genetic variability of chronic disorders is propelling the growth of this Metastatic Melanoma Therapeutics market segment.
Based on design, the Metastatic Melanoma Therapeutics market is segmented into predesigned and customized panels. The customized Metastatic Melanoma Therapeutics segment is expected grow at the highest CAGR during the forecast period. This growth is attributed to the evolving needs of the emerging therapeutic and diagnostic application sectors and the increasing number of clinical and preclinical research studies.
The Metastatic Melanoma Therapeutics market is fragmented with the presence of several small and big players. Prominent players in this market include Bristol-Myers Squibb Company, Novartis AG, Merck & Co., Inc., Genentech Inc., F. Hoffmann-La Roche AG., Amgen Inc., AstraZeneca, Daiichi Sankyo Company, Limited., AB Sciences, AgonOX, Inc., Eisai Co., Ltd, GlaxoSmithKline, plc., Pfizer, Inc., and Vical, Inc.
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