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Malignant Melanoma Treatment Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033 | The Business Research Company
Malignant Melanoma Treatment Global Market
The malignant melanoma treatment market size is expected to see rapid growth in the next few years. It will grow to $10.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to personalized medicine, global health initiatives, expanded genomic profiling, value-based healthcare models, patient-centric approaches. Major trends in the forecast period include integration of artificial intelligence (ai), early detection technologies, real-world evidence and data analytics, precision medicine integration, combination therapies.
Market Overview -
Malignant melanoma treatment refers to the medical interventions and therapies aimed at managing and potentially curing malignant melanoma, a type of skin cancer that develops from melanocytes, the cells responsible for producing the skin pigment melanin. The treatment of malignant melanoma offers several advantages critical for the well-being and potential recovery of individuals diagnosed with this aggressive form of skin cancer.
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Rising Ultraviolet (UV) Radiation Exposure To Fuel Malignant Melanoma Treatment Market
The increasing exposure to ultraviolet (UV) radiation is expected to propel the growth of the malignant melanoma treatment market going forward. Ultraviolet (UV) radiation is a type of electromagnetic radiation with a wavelength shorter than that of visible light but longer than X-rays. Malignant melanoma development is significantly influenced by exposure to ultraviolet (UV) radiation, especially UVA (315-400 nm) and UVB (280-315 nm). UV radiation can damage the DNA in skin cells, leading to mutations that cause the cells to grow and divide uncontrollably, forming a tumor. For instance, in May 2021, according to a report published by The Environmental Protection Agency, a US-based government agency, overexposure to UV radiation from the sun is predicted to cause more than 106,000 new instances of melanoma, the most severe type of skin cancer, in 2021. This is around 6,000 predicted cases more than in 2020. Therefore, the increasing exposure to ultraviolet (UV) radiation is driving the growth of the malignant melanoma treatment market.
Competitive Landscape -
Major companies operating in the malignant melanoma treatment market report are Johnson & Johnson Private Limited, Pfizer Inc., Hoffmann-La Roche AG, Bayer AG, Novartis AG, Merck & Co. Inc., GlaxoSmithKline plc, Bristol-Myers Squibb Company, Sanofi S.A., AstraZeneca plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Daiichi Sankyo Company Limited, Mylan N.V., Chugai Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Limited, bioMérieux SA, Ono Pharmaceutical Co. Ltd., Exelixis Inc., Array BioPharma Inc., Pierre Fabre Group, Clinigen Group, Iovance Biotherapeutics Inc., X4 Pharmaceuticals Inc., Mirati Therapeutics Inc., Moleculin Biotech Inc., Polynoma LLC, Enzon Pharmaceuticals Inc., Northwest Biotherapeutics Inc.
Increasing Focus On Product Approvals To Drive The Revenues
Major companies operating in the malignant melanoma treatment market are focused on developing innovative drugs and getting them approved to sustain their position in the market. Drug approvals for malignant melanoma treatment are increasing due to the need for more effective and safer treatments, such as Opdualag, which provides a new therapeutic option. Opdualag is a fixed-dose combination of two immunotherapy drugs, nivolumab, and relatlimab-rmbw, for treating unresectable or metastatic melanoma. For instance, in March 2022, Bristol Myers Squibb, a US-based pharmaceutical company, received approval for Opdualag from the Food and Drug Administration, a US-based federal agency used to treat specific kinds of melanoma administered as a single intravenous infusion. It is a first-in-class, fixed-dose combination of nivolumab and relatlimab for treating adult and pediatric patients 12 or older with metastatic or unresectable melanoma. Relatlimab-rmbw is a human IgG4 monoclonal antibody that binds to the LAG-3 receptor. Opdualag is an important addition to BMS's portfolio of cancer treatments, and its launch has been successful, contributing to the company's growth.
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Key Segments -
The malignant melanoma treatment market covered in this report is segmented -
1) By Treatment: Immunotherapy, Radiation Therapy, Chemotherapy, Other Treatments
2) By Disease Type: Lentigo Maligna Melanoma, Acral Lentiginous Melanoma, Nodular Melanoma, Superficial Spreading Melanoma
3) By End-User: Hospitals, Specialty clinics, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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