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Head and Neck Cancer Therapeutics Market 2024-2033: Industry Outlook, Growth Insights, and Forecast Analysis
Head And Neck Cancer Therapeutics Global Market Report 2024
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According to The Business Research Company's, The head and neck cancer therapeutics market size has grown rapidly in recent years. It will grow from $1.55 billion in 2023 to $1.73 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to tobacco and alcohol consumption, human papillomavirus (hpv) infections, environmental exposures, treatment modalities evolution.
The head and neck cancer therapeutics market size is expected to see rapid growth in the next few years. It will grow to $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to immunotherapy advances, precision medicine approaches, awareness and early diagnosis campaigns, global aging population. Major trends in the forecast period include expanding role of targeted therapies, adoption of minimally invasive surgical techniques, integration of palliative care, exploration of novel biomarkers, patient-centric care models.
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Market Drivers and Trends:
The increasing prevalence of head and neck cancer is expected to propel the growth of the head and neck cancer therapeutics market going forward. Head and neck cancer refers to a disease in which cells start growing uncontrollably in the tissues of the head and neck region. Increasing cases increase the need for better diagnosis and treatment to help treat mutations and cancer cell abnormalities. For instance, in 2023, according to Cancer Research UK, a UK-based independent cancer research organization, the incidence of head and neck cancer in the UK is projected to rise by 3% between 2023 and 2025, while deaths due to head and neck cancers are expected to increase by 12% between 2023 and 2025. Therefore, the increasing prevalence of head and neck cancer is driving the head and neck cancer therapeutics market.
Major companies operating in the head and neck cancer therapeutics market are concentrating their efforts towards introducing new drug treatments for patients suffering from head and neck cancer therapeutics. Drug treatment refers to the use of pharmaceutical substances or medications to address, manage, or alleviate medical conditions, diseases, or symptoms in individuals. For instance, in October 2023, Coherus BioSciences Inc., a US-based biopharmaceutical company announced the FDA approval for its latest drug 'Loqtorzi'. It is also called toripalimab-tpzi and the approval was granted for the use of the drug in conjunction with cisplatin and gemcitabine as the initial treatment for adults diagnosed with metastatic or recurrent, locally advanced nasopharyngeal carcinoma. In the trial, adverse reactions occurred in fewer than 20% of patients, both when the treatment was used as a first-line option and when administered as a single-agent therapy.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Pfizer Inc., F Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi Aventis LLC, Bristol-Myers-Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Incyte Corporation, Ono Pharmaceutical Co. Ltd., Kyowa Kirin Co. Ltd., Hikma Pharmaceuticals PLC, Clinigen Group plc., Ligand Pharmaceuticals, Acceleron Pharma Inc., Taiho Pharmaceutical Co. Ltd., Boston Biomedical Inc., AB Science SA.
Head And Neck Cancer Therapeutics Market 2024 Key Insights:
• The head and neck cancer therapeutics market size is expected to see rapid growth in the next few years. It will grow to $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Unveiling The Surge In Head And Neck Cancer Fueling Advancements In Head And Neck Cancer Therapeutics Market
• Industry Leaders Drive To Introduce Cutting-Edge Drugs For Head And Neck Cancer
• North America was the largest region in the head and neck cancer therapeutics market in 2023
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