Head and Neck Cancer Therapeutics Market Size

Head & Neck Cancer Therapeutics Market Analysis

The Head and Neck Cancer Therapeutics Market is expected to register a CAGR of 9% over the forecast period.

The COVID-19 pandemic substantially impacted the head and neck cancer therapeutics market. The pandemic mainly affected cancer patients who were highly immunocompromised, subjecting them to extreme lockdowns and preventing them from the necessary treatment. Also, cancer screening and other health prevention services, along with elective surgeries, were postponed unless the risks outweighed the benefits and to secure the hospital infrastructure to treat COVID-19 patients. According to the article published by National Center for Biotechnology Information in April 2022, the pandemic postponed several elective surgeries, including head and neck surgeries in industrialized countries. This led to the postponement of almost 60% of the European Institute of Oncology (IEO) scheduled outpatient visits between March and April 2020. Hence, the involvement of medical personnel in the care of COVID-19 patients resulted in a delay in the treatment of head and neck cancer patients, which led to an increase in tumor growth, recurrences, and mortality rates. Thus, the COVID-19 pandemic has impacted the head and neck cancer diagnostics market. However, the situation is expected to improve gradually due to the surging demand for nonsurgical therapeutics like targeted therapy and chemotherapy.

Further, the surging prevalence of neck and head cancer, the increase in combination therapy demand for treating these cancers, and tremendous growth in the R&D activities for developing novel therapeutics for cancer treatment are among the major factors driving the growth of the market studied. Such factors are likely to boost the adoption of head and neck cancer therapeutics, thereby contributing to the growth of the market studied.

As per the American Society of Clinical Oncology (ASCO) August 2022, head and neck cancer is the seventh most occurring cancer globally, and more than 1.0 million cases are diagnosed yearly. Thus, the rising prevalence of head and neck cancer is significantly impacting the market growth. Additionally, the presence of many drug molecules under the pipeline and the subsequent approval of these drugs for the treatment of head and neck cancer is another factor responsible for market growth. For instance, in February 2021, Kura Oncology, Inc., a company focused on providing precision medicines for cancer treatment, received approval for its tipifarnib drug from the U.S. FDA. This drug provides therapy to patients suffering from metastatic or recurrent HRAS mutant head and neck squamous cell carcinoma (HNSCC). It is a potent drug that is orally administrable and selective in nature. Thus, owing to the surging number of drug approvals for the treatment of head and neck cancer the market studied is expected to have significant growth over the forecast period.

Moreover, in the recent few years, the prominent players are actively involving themselves in various strategic measures which are positively affecting the market growth. For instance, in December 2021, Sanofi SA announced the acquisition of Amu nix Pharmaceuticals, Inc., to boost and expand its oncology portfolio. The former will leverage the latter's clinically proven XTEN, and Pro-XTEN technologies, for the discovery and development of transformative T-cell engagers and cytokine-based therapies for the treatment of head and neck cancer. Thus, owing to the mergers and acquisitions, the market studied is expected to have significant growth over the forecast period.

Therefore, owing to the aforementioned factors the market studied is anticipated to witness growth over the forecast period. However, the various side effects associated with the prolonged use of head and neck cancer therapeutics are likely to impede market growth.