The global skin cancer treatment market generated $7.2 billion in 2021, and is estimated to reach $14.5 billion by 2031, manifesting a CAGR of 7.3% from 2022 to 2031. Skin cancer is the most prevalent type of cancer across the globe. Melanoma or non-melanoma skin cancer (NMSC) are the two main categories of skin cancer. Due to inadequate diagnostic standards and underreporting, it is challenging to pinpoint the exact incidences of skin cancer. Head and neck are common areas where skin malignancies are found, which can cause serious morbidity during diagnosis and treatment. Medicated treatment options include chemotherapy, immunotherapy, and targeted therapy. Sunscreen use is essential for proper sun safety. The primary etiological component in the emergence of cutaneous cancers is ultraviolet (UV) sun radiation. Majority of NMSC and melanoma cases can be attributed to UV exposure.
Increase in prevalence of skin cancer cases including melanoma and non-melanoma are the major factors contributes, to drive the growth of skin cancer treatment market size. For instance, according to the Skin Cancer Foundation, U.S. has reported about 3.6 million populations with basal cell carcinoma and 1.8 million people with squamous cell carcinoma in 2022. From the same report it was estimated that, skin cancer is most common type of cancer in the U.S. 1 in 5 Americans will develop skin cancer and more than 2 people die with skin cancer.
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Covid-19 Scenario:
- Non-urgent cancer treatments were postponed due to possibility of cross-contamination among cancer patients in the hospitals. Also, hospital staff was shifted to take care of increase in number of patients infected with coronavirus. This, in turn, reduced the number of staff members to take care of cancer patients.
- According to the paper published by the name “The impact of Covid-19 pandemic on quality of life in skin cancer patients,” non-melanoma cancer patients were at a higher risk of infection by the Covid-19 disease and needed special and rapid treatment. This, in turn, raised the need for diagnosis and demand for cutting-edge and innovative medicines to effectively treat patients.
Based on therapy, the immunotherapy segment accounted for the highest share in 2021, contributing to more than three-fifths of the global skin cancer treatment market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the targeted therapy segment is expected to manifest the highest CAGR of 8.6% from 2022 to 2031. The report also analyzes the chemotherapy segment.
Based on distribution channel, the drug stores and retail pharmacies segment contributed to the highest share in 2021, holding nearly half of the market, and is expected to dominate in 2031. However, the online providers segment is projected to grow at the highest CAGR of 8.5% during the forecast period. The research also discusses the hospital pharmacies segments.
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Based on region, North America accounted for the highest share in 2021, holding more than two-fifths of the global market, and is expected to maintain its dominance by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 8.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global skin cancer treatment market analyzed in the research include Amgen Inc., Bristol Myers Squibb Company, F.Hoffman –La-Roche Ltd., GlaxoSmithKline Plc., LEO Pharm A/S, Novartis AG, Merck KGAA, Regeneron Pharmaceuticals, Pfizer Inc., and Sun Pharmaceuticals Industries Ltd.
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