Head & Neck Cancer Drug Market Increase in Use of Combination Therapy and Growth in Demand for Target Immune Therapy Are Expected To Boost the Market Growth in the Coming Years
Head and neck cancer drugs include chemotherapy and targeted & immunotherapeutic agents, which are used alone or in combination for treatment of the throat, larynx, nose, sinus, lips, salivary glands and oral cavity. The market for head and neck cancer treatment is expected to increase significantly more than expected due to the increase in the number of patients, increase in demand for combination therapies, progress in screening and diagnosis, and pipeline drug launches. For example, Ipilimumab, Atezolizumab, Avelumab, Durvalumab, Erlotinib, Afatinib and Bevacizumab.
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Based on drug class, the global head & neck cancer drugs market is categorized as chemotherapy agents, immunotherapy, and targeted therapy. Chemotherapy was the major revenue contributing segment in 2017, due to increase in adoption of chemotherapeutics for treatment of head & neck cancer along with radiation therapy and rise in demand for combination therapy. However, the market for immune therapeutic drugs is projected to exhibit the fastest market growth during the forecast period owing to strong presence of pipeline drugs, rise in usage of Yervoy & Keytruda along with the supportive reimbursement policies for usage of immunotherapy drugs in some countries.
According to sales channel, the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online stores. Currently, drug stores & retail pharmacies segment is major revenue contributor due to massive presence of these pharmacies. However, online providers segment is expected to show fastest market growth over the forecast period due to rise in preference for online purchasing of drugs over the traditional methods and increase in awareness about online pharmacy with rise in number of internet users.
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Key Findings of the Head & Neck Cancer Drugs Market:
Based on sales channel, the online stores segment is expected to experience fastest market and is projected to grow at a CAGR of 10.2% during the forecast period 2018-2025.
Depending on drug class, the chemotherapy segment held nearly half of the global market share in 2017, and is projected to grow at a CAGR of 4.0% from 2018 to 2025.
Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.7% during the forecast period.
North America accounted for nearly one-half of the global market share in 2017, and is expected to remain dominant throughout the forecast period. This was attributed to higher demand for head & neck cancer drugs, higher number target population, favorable reimbursement policies in healthcare system, increase in number of trained medical professionals with wide availability of the advance therapeutics. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to growing prevalence of head & neck cancer, upsurge in demand for head & neck cancer drugs with improvement in healthcare infrastructure.
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