Global Melanoma Therapeutics Market 2016: Industry Growth, Research, Future Outlook to 2022

The global melanoma market has witnessed an unprecedented boost in market size, owing to a dynamically evolving nature of melanoma treatments over the past few years. The high demand of novel early stage and advanced melanoma therapies along with a booming patient base, has created an impending need for better therapies in the melanoma market. Although, a plethora of treatment options are available today, several immunotherapies and combination therapies are expected to enter the market. Large uptake of these novel treatments is expected due to their improved survival benefits and minimal side effects. Additionally, untapped patient population, especially, in the Europe and U.S. would lead to a higher uptake of novel treatments in the near future.

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According to the skin cancer foundation, ~an estimated total of 73,870 new diagnosed cases of melanoma are expected in 2015. With an expected death toll of 9,940 cases, melanoma would account for the majority of skin cancer deaths in 2015.

A strong emerging pipeline, rising incidences of melanoma cases and the increasing public awareness are the major factors driving the melanoma market. In addition, the growing interest of physicians towards novel therapies would fuel the market. Conversely, high costs incurred due to combination treatments and limited reimbursement is likely to curtail the market growth.

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For companies like Bristol Myers Squibb (BMS), apposite product positioning of novel treatments in order to avoid cannibalization of marketed products would be a key challenge to sustain in the melanoma market. However, untapped geographical regions, which include some parts of Europe and the Asia Pacific with a high undiagnosed patient population, would provide lucrative growth opportunities.

Few of the key strategies adopted by leading players in the market are new product launches and fast track approvals. Recently, Bristol Myers Squibb (BMS) received an FDA clearance for supplemental Biologics License Application (sBLA) of Opdivo. In late 2014, the Food and Drug Administration (FDA) granted a fast track approval for a drug called Keytruda, developed by Merck & Co.

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