Head and Neck Cancer Market to reach US$ 2,064.6 Mn by 2026 – TMR

TMR

4 years ago

Global Head and Neck Cancer Market – Snapshot

The global head and neck cancer market is driven by increase in the patient population, rise in health care infrastructure in developing economies, growth of the pharmaceutical industry, surge in research and development activity, increase in product approvals, and rise in government initiatives. An estimated 75% of head and neck cancers is caused due to consumption of alcohol and tobacco. However, high cost of treatment and high failure rate of late stage clinical trials are the major factors restraining the global market.

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The global head and neck cancer market has been segmented based on drug class, distribution channel, and region. In terms of drug class, the global market has been classified into EFGR inhibitors, mitotic inhibitors, anti-PD-1 monoclonal antibodies, and others. The anti-PD-1 monoclonal antibodies segment is projected to account for major share of the market by the end of the forecast period. Increase in research and development activity in the pharmaceutical industry, development of new products, and rise in mergers & acquisitions are expected to drive the segment during the forecast period. Based on distribution channel, the global head and neck cancer market has been classified into hospital pharmacies, retail pharmacies, and e-commerce. In terms of region, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Based on drug class, the anti-PD-1 monoclonal antibodies segment is anticipated to dominate the global head and neck cancer market. Increase in awareness, rise in demand for efficient drugs for treatment, and new product approvals are expected to propel the segment during the forecast period. For instance, in November 2016, Bristol-Myers Squibb received the FDA approval for Opdivo (nivolumab) for intravenous treatment of individuals with metastatic squamous cell carcinoma of the head and neck (SCCHN)

In terms of distribution channel, the hospital pharmacies segment dominated the global head and neck cancer market. Increase in patient population and improvement in health care infrastructure are expected to drive the segment during the forecast period.

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North America accounted for the largest share of the global market in 2017. Rise in prevalence of head and neck cancer (HNC), surge in health care expenditure, growth of the pharmaceutical industry, rise in mergers & acquisitions, and robust product pipeline are anticipated to drive the market in the region during the forecast period. Rise in demand for efficient drugs for treatment of HNCs in emerging economies such as China and India, growing pharmaceutical industry, and rapidly increasing patient population are anticipated to fuel the growth of the market in Asia Pacific during the forecast period. The head and neck cancer market in Latin America and Middle East & Africa is expected to be driven by rise in government initiatives to promote better health care facilities and increase in investment in health care sector during the forecast period. Growth of the health care industry, increase in the number of pharmaceutical companies, and rise in demand for therapeutics are expected to augment the market in these regions during the forecast period.

Major players operating in the global head and neck cancer market include Sanofi, Pfizer, Eli Lilly and Company, Merck KgaA, Bristol-Myers Squibb Company, Bayer AG, Galera, Fresenius Kabi, and Teva Pharmaceuticals. Increase in mergers & acquisitions, new product development, and strategic collaboration between major companies and governing authorities are expected to drive the global market during the forecast period. In October 2018, Sanofi received the FDA approval for TAXOTERE for the treatment of patients with head and neck cancer.