Global Metastatic Melanoma Drugs Market Size

Metastatic Melanoma Drugs Market Analysis

The metastatic melanoma drugs market is expected to register a CAGR of 9.7% over the forecast period, 2022-2027.

COVID-19 pandemic has had a substantial impact on the metastatic melanoma drugs market initially. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in the treatment of cancer patients in hospitals and clinics, which includes metastatic melanoma patients as well. However, the sales of home-use metastatic melanoma drugs observed a significant increase during the pandemic. For instance, a cohort study was conducted for evaluating the impact of the covid-19 pandemic on melanoma and non-melanoma skin cancer inpatient treatment in Germany. It was published in May 2022 in the Journal of the European Academy of Dermatology and Venereology (JEADV) and the results of the study showed that since the beginning of the pandemic there has been a significant drop in the number of hospital admissions and surgical procedures for skin cancer patients. Furthermore, according to the article titled 'Melanoma Management during the COVID-19 Pandemic Emergency: A Literature Review and Single-Center Experience' published in the journal of National Center for Biotechnology Information (NCBI) in December 2021, a case study was performed where they compared the early diagnosis rate of melanoma in 2020 to that of 2018 and 2019 and a decrease in the early diagnoses of melanoma was observed during the pandemic; however, surgical interventions and systemic treatments for advanced cases were guaranteed. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction as the pandemic subsides eventually.

Further, the increasing incidence of metastatic melanoma, technological advancements for the treatment of metastatic melanoma and rising development of new biologics are among the major factors driving the growth of the studied market. Currently, factors such as rising exposure to ultraviolet rays, rising depletion of the ozone layer and increasing working hours in airplanes are also responsible for the increasing incidence of metastatic melanoma cases. Such factors are likely to boost the usage of metastatic melanoma drugs, thereby contributing to the studied market growth.

Moreover, according to an article titled 'Epidemiology of Melanoma' published in the journal of National Centre for Biotechnology Information (NCBI) in October 2021 worldwide incidence of melanoma has risen over the past few decades. The Annual incidence of melanoma is rising at a rapid rate of 4-6% in white-skinned populations in regions like North America, Europe, Australia, and New Zealand. Furthermore, according to the American Cancer Society, Inc. by the end of the year 2022 there will be 99,780 new cases of melanoma, and 7,650 people are expected to die due to melanoma in the United States. Therefore, the use of drugs that will be used to treat the patients affected with metastatic melanoma is poised to accelerate the metastatic melanoma drugs market globally and is expected to increase in the future, thereby driving the growth of the studied market over the forecast period.

In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For instance, in June 2022 Immunocore collaborated with Sanofi to evaluate Sanofi's product candidate SAR444245, non-alpha IL-2, in combination with Kimmtrak in patients with metastatic cutaneous melanoma. Additionally, in April 2022 Pfizer Inc. offered an independent medical education grant for the best practices in the clinical management of patients with BRAF-mutant metastatic melanoma. Thus, owing to the launches and partnerships the studied market is further expected to have significant growth over the forecast period.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the high risk of side effects associated with the treatment procedure and high cost of treatment are likely to impede market growth.