Nasopharyngeal Cancer Market Display Significant Growth by 2022
In 2015, American Society of Clinical Oncology (ASCO) estimated 3200 to be diagnosed with NPC in U.S. The prevalence rate is fairly rate, as one in out of every 100,000 population are diagnosed with this chronic disorder. However, over the last few years, there has been a dramatic rise in prevalence rate of nasopharyngeal cancer. This is mainly attributed to increasing tobacco and alcohol consumption. The global prevalence of nasopharyngeal cancer is likely to peak by the end of forecast period. In developing region, nasopharyngeal cancer is widely prevalent in South East Asia such as China. Various symptoms of nasopharyngeal cancer are lump in the neck, hearing loss, stuffiness, numbness, frequent headaches, fatigue, blurred, weight loss etc.
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Increasing geriatric population, rise in consumption of tobacco, increasing health awareness, changing lifestyle, are key driving factors for nasopharyngeal cancer treatment market. Also, rapid adoption of technologies in healthcare premises is expected to further boost nasopharyngeal cancer treatment market. This trend is likely to be seen in developing regions where healthcare expenditure is increasing at a significant rate. Developed regions are witnessing since accessibility for nasopharyngeal cancer treatment and procedure is easily accessible and available, the demand for nasopharyngeal cancer market has increased. Companies are investing heavily in developing regions to offer effective treatment solutions for higher care quality, greater efficiency and better patient outcomes.
With so many advantages of nasopharyngeal cancer market, it has few disadvantages too. High cost of the treatment and side effects are acting as a barrier for nasopharyngeal cancer market.
The nasopharyngeal cancer market has grown substantially at a healthy CAGR due to increasing number of patients with nasopharyngeal cancer. With rapid technological advancement and innovation, nasopharyngeal cancer market is expected to grow globally. North America is the largest market for nasopharyngeal cancer treatment, however, Asia Pacific is expected to witness fastest growth during the forecast period.
The nasopharyngeal cancer market is expected to register a significant CAGR over the forecast period. Depending on geographic regions, nasopharyngeal cancer market is segmented into seven key regions: North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America along with Europe is expected to dominate the global nasopharyngeal market throughout the forecast period, however, Asia Pacific is expected to witness fastest growth during the forecast period. Increasing healthcare awareness along with increasing spending on IT and healthcare technologies in developing regions is expected to boost overall demand for effective treatment of nasopharyngeal cancer market. Though there has been an alarming increase in incidence rate of nasopharyngeal in Latin America, ineffective public policy formulation mechanism along with low healthcare expenditure has led to moderate growth in the region. Latin America and MEA are expected to witness moderate growth during the forecast period.
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Some of the key market players for Nasopharyngeal Cancer Market market are Cyclacel Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd, Sanofi, Merck & Co., Inc., CELGENE CORPORATION, BioDiem Ltd
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