Europe Melanoma Therapeutics Market Size was valued at USD 0.92 Billion in 2022. The Melanoma Therapeutics market industry is projected to grow from USD 1.07 Billion in 2023 to USD 3.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.80% during the forecast period (2023 - 2032). The growing need for radiation treatment is one of the major market drivers driving the Melanoma Therapeutics market in Europe. The market saw partnerships and collaborations, as well as acquisitions, as inorganic growth tactics. The market participants' consumer base and business have grown as a result of these activities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
December 27th, 2023, Bristol Myers Squibb’s Opdivo+Yervoy combination consisting of nivolumab and relatlimab won approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) United Kingdom for advanced melanoma. Project Orbis authorized Opdualag as well; it acts together with Canada’s Health Canada, Australia’s Medicines Goods Administration (TGA), Singapore’s Health Sciences Authority (HSA), Swissmedic, Anvisa Brazil and Israel Ministry of Health partners coordinated by US Food and Drug Administration (FDA). The aim is to speed up safe and effective drug development through concurrent submission reviewing plans among countries. It also helps bring products to other countries where sponsors are willing to accept foreign data as support for their applications earlier.
Moderna CEO Stephane Bancel told AFP on Tuesday that his firm's experimental vaccine against melanoma could be available within two years after clinical trials are concluded if all goes well, conducting a major war against the deadliest type of skin cancer, which is not easy or simple. Globally, an estimated three hundred twenty-five thousand melanoma cases occurred there alone in the year 2020, while this disease alone claimed about fifty-seven thousand lives.
In September 2023, the FDA pushed back its Prescription Drug User Fee Act (PDUFA) date for Iovance Biotherapeutics’ life in advanced melanoma patients from November 25th, 2023, to February 2024. The agency said it needed more time because of limited resources. The biologics license application is still under priority review, and no major review issues are indicated by the FDA. There will be no advisory committee meeting convened as part of this process either. Furthermore, all pre-approval inspections of clinical sites, as well as manufacturing and testing facilities, have been completed.
In October 2022, Quest Diagnostics Incorporated announced that it had joined forces with Decode Health to obtain biomarker-based information that will cut short the time and cost of developing new tests and drug targets for different kinds of cancer. This would also advance the company’s R&D innovation in Europe as well as its market expansion.
In May 2022, Myriad Genetics, Inc. was reported to have broadened its strategic alliance with Intermountain Precision Genomics, a service of Intermountain Healthcare, by adding a new liquid biopsy therapy selection test into its burgeoning oncology portfolio. We are seeing greater room for liquid biopsy in this cancer diagnosis.
Melanoma is the name for the most deadly type of skin cancer, and it starts in the melanocyte cells, which are in charge of making melanin. Melanoma can also occur in the eyes and, very infrequently, in other body parts like the throat and nose. Because more people are being treated with radiation as adjuvant therapy after surgery and the number of instances of advanced melanoma is rising, radiation therapy is expected to expand steadily in Europe during the projection period. One common initial course of treatment is radiation therapy. Only stage 4 patients who are not responsive to surgery are given it. Since melanoma, skin allergies, and other skin malignancies are more common in developing nations like Europe, there is a chance for many pharmaceutical companies to increase their market share in these areas.
Furthermore, putting a lot of focus and money into creating extremely effective treatment choices will probably have a big effect on market expansion in the European region. The number of approvals by regulators has had a significant impact on market growth, and treatment recommendations are contingent upon a number of factors. Among the medications that the FDA approved in 2021 for the treatment of cancer were Binimetinib, Braftovi, Aldesleukin, Cobimetinib Fumarate, Dabrafenib Mesylate, and Cotellic. The market's expansion in the next years will be supported by the importance of major key players introducing various novel medications and treatment methods. However, sometimes, especially in developing nations like Europe, no medication is available to treat the wide variety of malignancies that might occur.
The Europe Melanoma Therapeutics market segmentation, based on Product, includes Chemotherapy, Immunotherapy, Targeted Therapy, and Radiation Therapy. The market for melanoma therapies is dominated by immunotherapy because of its exceptional efficacy and generally good safety record. It has transformed the way melanoma is treated by combating cancer cells with the immune system. Pembrolizumab and Nivolumab, two immune checkpoint inhibitors, have demonstrated remarkable response rates that have increased patient survival.
The Europe Melanoma Therapeutics market segmentation, based on Drug Type, includes Branded Drugs and Generic Drugs. The melanoma therapeutics market is dominated by the branded drugs segment, largely because of strong clinical trial pipelines, substantial investments in research and development, and effective marketing strategies employed by pharmaceutical companies. Branded medications frequently give a better degree of safety and efficacy, fostering patient and healthcare provider trust.
Figure 1: Europe Melanoma Therapeutics Market, by Drug Type, 2022 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Germany is the largest share-holding country in Europe melanoma therapeutics market in the European region. The need for efficacious treatments is exacerbated by the prevalence of melanoma in Germany. Research, development, and adoption of cutting-edge treatments may be influenced by a large number of instances. Promising outcomes have been observed in the treatment of melanoma using immunotherapy. Melanoma therapies are growing as a result of ongoing developments in immune checkpoint inhibitors and other immunotherapeutic strategies. Germany offers access to cutting-edge and novel therapies because of its sophisticated healthcare system. The newest and most potent melanoma treatments are sought after by patients and medical professionals.
Figure 2: Europe Melanoma Therapeutics Market Share By Region 2022 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Leading market players are investing a substantial amount of money in R&D to grow their product lines, which will contribute to the further expansion of the Melanoma Therapeutics market. In addition, market players are engaging in a range of calculated initiatives to increase their presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure an increasingly cutthroat and dynamic market, the Melanoma Therapeutics industry must provide reasonably priced goods.
Major players in the Melanoma Therapeutics market are engaging in research and development activities in an effort to boost market demand, including Johnson & Johnson Private Limited (U.S.), Mylan N.V. (U.S.), Sun Pharmaceutical Industries Limited (India), Sanofi S.A. ( France), Bayer AG (Germany), Lilly (U.S.), and Merck & Co., Inc. (U.S.), among others.
Key Companies in the Melanoma Therapeutics Market Include
Melanoma Therapeutics Industry Developments
January 2022: Pfizer Inc. received approval for CIBINQO (abrocitinib) from the US Food and Drug Administration (FDA). This once-daily oral drug is part of the Janus kinase 1 (JAK1) inhibitor class and is used for individuals with moderate-to-severe atopic dermatitis (AD) that is refractory.
January 2022: FDA approved Immunocore's KIMMTRAK (tebentafusp-tebn). This drug is intended to treat metastatic or incurable uveal melanoma, providing a potentially effective treatment alternative in the battle against this difficult malignancy.
August 2022: Japan approved Tagrisso, an AstraZeneca product, as an adjuvant treatment for individuals with epidermal growth.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 0.92 Billion |
| Market Size 2023 | USD 1.07 Billion |
| Market Size2032 | USD 3.70 Billion |
| Compound Annual Growth Rate (CAGR) | 16.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Drug Type, and Region |
| Region Covered | Europe |
| Countries Covered | Germany, France, UK, Italy, Spain, Sweden, Denmark, Luxembourg, Norway, Austria, and Rest of Europe |
| Key Companies Profiled | Johnson & Johnson Private Limited (U.S.), Mylan N.V. (U.S.), Sun Pharmaceutical Industries Limited (India), Sanofi S.A. ( France), Bayer AG (Germany), Lilly (U.S.), and Merck & Co., Inc. (U.S.) |
| Key Market Opportunities | ·        Expanding Authorizations for Regulatory Approvals to Propel Market Expansion |
| Key Market Dynamics | ·        Creation of novel biologics to propel market expansion ·        The rise in skin cancer cases in the area will propel market expansion. |
Frequently Asked Questions (FAQ) :
In 2022, the European melanoma Therapeutics market was estimated to be worth USD 0.92 billion.
From 2023 to 2032, It is anticipated that the market will grow at 16.80% (CAGR).
The key players in the market are Johnson & Johnson Private Limited (U.S.), Mylan N.V. (U.S.), Sun Pharmaceutical Industries Limited (India), Sanofi S.A. ( France), Bayer AG (Germany), Lilly (U.S.), and Merck & Co., Inc. (U.S.), among others.
In 2022, the market was dominated by the immunotherapy category.
The category with the biggest market share was Branded Drugs.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
