Asia Pacific Skin Cancer Market Projected to Grow Radiantly By 2023; Asserts MRFR Unleashing Industry Forecast

Cancer is becoming one of the major problem across the globe. Skin cancer is the cancer that arise from the skin. Globally, more than 100 types of cancer are being observed but skin cancer is the most common form of cancer accounting for at least 30% of cases. The major cause for the skin cancer is overexposure to harmful radiation and HPV infections which increases the risk of skin cancer. Moreover, in more than 90% cases skin cancer is caused due to exposure to ultraviolet radiation from the sun. The skin cancers are bifurcated into three major types of cancer: basal cell skin cancer (BCC), squamous-cell skin cancer (SCC) and melanoma. Basal cell skin cancer is the most common type of the cancer.

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The major driving factor for the growth of the market are increasing incidence of skin cancer in Asia Pacific region. For instance, the incidence of skin cancer per 100,000 population is 20-25 in Japan, 11-12 in China. Continuous increasing prevalence of skin cancer in Japan has help to develop the skin cancer market in this region. Moreover, extensive R&D pipelines and increasing usage of combination therapies has provided fuel for the growth of the market. On other hand, side effects associated with the treatment, long approval time for the drugs and stringent regulatory guidelines has hindered the growth of the market.

The Asia Pacific market for skin cancer is growing continuously and expected to grow at a CAGR of 8.8% during the forecast period 2017-2023. According to a recent study report published by the Market Research Future, The Asia Pacific skin cancer market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a prominent CAGR during the anticipated period (2017 – 2023).

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Asia Pacific Skin cancer Market - Competitive Analysis
F. Hoffmann-la Roche Ltd. (Switzerland), Novartis International AG (Switzerland), Sun Pharma Industries Ltd. (India), Elekta AB (Sweden), Varian Medical Systems Inc. (US), Cannabis Science Inc. (US), Cellceutix Corp. (US), LEO Pharma A/S (Denmark), Moberg Pharma AB (Sweden), Mylan Pharmaceutical Inc. (US), Oncothyreon Inc. (US), Eli Lilly and Co. (US), Bristol Myers Squibb Co. (US), Boehringer Ingelheim GmbH (Germany), Aqua Pharmaceuticals LLC (US), Valeant Pharmaceuticals Inc (Canada), Meda AB (US), iCAD Inc. (Sweden), Merck & Co. Inc. (US) are some of the prominent players at the forefront of competition in the Asia Pacific Skin Cancer Market and are profiled in MRFR Analysis.

The market for skin cancer is characterised by the presence of several well-established and small players, the Asia Pacific market of skin cancer appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. Some of the companies are focusing on the development of the new product for the treatment while some of leading companies in this market is collaborating with other companies in order to minimize the competition and increase the product range.

For instance, Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in India. Company manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. To increases the skin cancer market company is trying to increase the range of products. In 2016, Sun Pharma has acquired skin cancer drug Odomzo for Asia Pacific markets from Swiss multinational company Novartis for $175 million. Sun Pharma is making significant investments, organically as well as through acquisitions, to build a pipeline of branded products, specialty drugs and complex generics to boost growth.

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F. Hoffmann-La Roche AG is a Swiss multinational company that operates under two division, Diagnostics and Pharmaceuticals. Wide range of products are manufacture by the company. In 2015, FDA approves Roche's Cotellic in combination with Zelboraf for the treatment of advanced melanoma.
Therefore, the growing acquisitions and and clinical approvals for various competitive products by the major players has spurred the growth of the market.

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