Immuno-Oncology Drugs Segment Is The Largest Segment Driving The Growth Of Head And Neck Cancer Drugs Market
The global Head and Neck Cancer Drugs Market is estimated to be valued at US$ 1,986.3 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Head and neck cancer refers to a group of cancers that start in the mouth,
nose, throat, larynx, sinuses, or salivary glands. Head and neck cancer drugs
are used for treating head and neck cancers and aim to destroy or slow the
growth of cancer cells. These include surgery, radiation therapy, chemotherapy,
and targeted therapies.
Market key trends:
One of the key trends in the head and neck cancer drugs market is the rising
adoption of biologics. Biologics are medications made from living organisms or
contain components of living organisms. They are complex molecules that are
much larger than chemicals derived from petrochemicals. Targeted biologic
therapies aim to block the growth and spread of cancer by interfering with
specific molecules involved in tumor growth and progression. Examples of
biologic therapies used in head and neck cancer include cetuximab and nivolumab
that have demonstrated survival benefits. The biologics segment is expected to
witness highest growth in the head and neck cancer drugs market owing to
growing demand for personalized treatment and preference for therapies with
greater efficacy and fewer side effects.
Segment
Analysis
The head and neck cancer drugs market is segmented by type, application,
distribution channel, and geography. Based on type, the market is segmented
into PD inhibitors, microtubule inhibitors, and others. The PD inhibitors
segment dominated the market with a share of more than 45% in 2022 due to the
high efficacy and success rate of PD-1/PD-L1 inhibitors for treating head and
neck cancer. By application, the market is segmented into oral cancer,
laryngeal cancer, salivary gland cancer, and others. The oral cancer segment
held the largest share of more than 35% in 2022 owing to the high prevalence of
oral cancer worldwide.
Key Takeaways
The Global
Head And Neck Cancer Drugs Market Size is expected to witness high
growth, exhibiting CAGR of 7.3% over
the forecast period, due to increasing prevalence of head and neck cancers
worldwide.
Regional analysis
North America dominated the global market in 2022 and is expected to continue
its dominance over the forecast period. This is attributed to the increasing
healthcare expenditure and significant product availability in the region. Asia
Pacific is expected to grow at the fastest CAGR during the forecast period
owing to rising healthcare awareness and improving healthcare infrastructure in
emerging economies such as China and India.
Key players
Key players operating in the head and neck cancer drugs market are Merck &
Co., Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Astrazeneca
Plc., Fresenius Medical Care AG & CO. KGAA, and F. Hoffmann-la Roche Ltd.
(Genentech, Inc.), among others. Merck & Co., Inc. is one of the leading
players with its strong PD-1 inhibitor, Keytruda, which has proven to be highly
effective against head and neck cancers.
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