Report Overview

The Global Melanoma drugs market size stood at USD 8.2 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Melanoma is a type of skin cancer that develops in the melanocyte cells that are responsible for producing melanin, the pigment that imparts colour to the skin. It occurs when unrepaired damage to skin cells leads to their rapid multiplication, thus forming malignant tumours. The primary cause of Melanoma is prolonged exposure to ultraviolet light. If detected and treated at an early stage, the disease is almost always curable. In recent years, there has been a rise in the number of new cases reported, due to changing environmental landscape. The market for its treatment has thus witnessed significant growth



Market Drivers

The entry of biosimilars in the market is expected to increase during the forecast period due to the patent expiration of key branded biologics. For instance, Amgens patent for Imlygic expires in 2021, and this is expected to offer opportunities for new players to enter the market, and, in turn, boost the market growth

The prevalence of skin allergies, melanoma, and other skin cancers in developing countries is high, which serves as an opportunity for drug companies to gain a larger share in these regions. Increasing demand for cost-efficient therapeutics in developing regions, such as Asia Pacific and Middle East & Africa, has encouraged major players to develop cheaper and effective drugs. These factors are expected to fuel the growth of the overall market in the coming years