Basal Cell and Squamous Cell Carcinoma Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: February 06, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 6.3 billion |
|
Revenue Forecast in 2030 |
US$ 12.9 billion |
|
CAGR |
8.3% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Drug Class, Route of Administration, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global basal cell and squamous cell carcinoma therapeutics market was valued at US$ 6.3 billion in 2021 and is expected to register a revenue CAGR of 8.3% to reach US$ 12.9 billion by 2030.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market Fundamentals
Basal cell carcinoma (BCC) is a type of skin cancer in which there is an uncontrolled growth of cells in the basal layer of the epidermis. It does not spread to other body parts. However, in very uncommon circumstances, it may cause metastasis and be shown to be life-threatening, even if it may penetrate deeply into the skin and bones. It is brought on by excessive UV exposure. The lesions that develop during BCC resemble open sores, red patches, or occasionally lumps.
Various alternatives are available to treat BCC, including surgery, medications, and other methods. It is the most commonly occurring form of skin cancer. The most typical type of skin cancer and common type of cancer overall is BCC. An estimated 3.6 million cases are diagnosed annually in the U.S. alone. Though surgery is the gold standard of treatment in BCC, hedgehog-pathway inhibitors have surfaced as a crucial treatment option in cases where it is inappropriate.
Squamous cell carcinoma (SCC) is the second most common kind of skin cancer after BCC. Squamous cells, seen in the middle and outer epidermal layers of the skin, develop uncontrollably during the malignancy. SCC is typically brought on by overexposing skin to the sun’s damaging UV rays. However, several additional factors, such as older age, genetic predisposition, Caucasian features, including light skin, red or blonde hair, and blue or green eyes, radiation exposure, excessive usage of tanning beds or UV lamps, and HIV, HPV, or AIDS infection are being linked to elevated risks of developing squamous cell carcinoma. SCC is a skin cancer that grows more slowly than other skin cancers. However, if it is not diagnosed in its early stages, it can spread to the lungs, bones, and lymph nodes and become difficult to treat. SCC can develop in any body area, including vaginal, oral, and mucosal linings.
According to statistics from the Cancer Organization, about 5.4 million basal and squamous cell skin malignancies are detected annually in the U.S. Around 8 out of 10 of these cases include BCC. Squamous cell tumors develop less frequently. Basal and squamous cell skin tumors rarely result in death. According to estimates, 2,000 Americans per year in the U.S. pass away from these tumors, albeit this number has been declining in recent years. Most victims of these malignancies are elderly people, and it is possible that they delayed seeking medical attention until the malignancy had already spread significantly. Those whose immune systems are compromised, such as those who have undergone organ transplants, are also more susceptible to dying from these tumors.
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Basal Cell and Squamous Cell Carcinoma Therapeutics Market Dynamics
Environmental changes boost the prevalence of some cutaneous cancers, such as non-melanoma skin cancer and squamous cell carcinoma. The sun's dangerous UV radiation penetration increases with ozone layer depletion in the atmosphere. The risk of developing SCC is increased by variables, such as prolonged sun exposure, fair skin, exposure to chemical carcinogens, such as arsenic, and genetic factors. The global market is driven by these environmental variables that enhance the occurrence of both types of carcinomas. The demand for SCC treatment measures is increased by a rise in the elderly population, growth in campaigns to raise illness awareness, and favorable reimbursement policies. Additionally, the market is expanding due to an increase in the number of new pharmaceutical companies receiving regulatory authority approval.
However, the high cost of therapy and a lack of awareness in developing nations may restrain the revenue growth of the global basal cell and SCC treatment market in the next few years.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market Ecosystem
The global basal cell and squamous cell carcinoma therapeutics market has been analyzed from four perspectives: drug class, route of administration, distribution channel, and region.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market by Drug Class
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Based on drug class, the global basal cell and squamous cell carcinoma therapeutics market has been segmented into antineoplastics, hedgehog pathway inhibitors, monoclonal antibodies, and other drugs.
Due to an increase in regulatory approvals for hedgehog pathway inhibitors as the first line of treatment in important markets, the hedgehog pathway inhibitors segment accounts for the highest revenue share of the global market. Additionally, the approval of new products in this category and the launch of new hedgehog pathway inhibitors contribute to the market segment revenue growth.
Due to the rising usage of monoclonal antibodies in the treatment of BCC and SCC and new product launches in this market, the monoclonal antibodies segment is predicted to have considerable revenue growth during the forecast period.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market by Route of Administration
Based on the route of administration, the global basal cell and squamous cell carcinoma therapeutics market is segmented into topical, parenteral, and oral.
The oral segment, which currently accounts for the biggest market revenue share, is expected to observe rapid expansion during the forecast period. Patients’ rising preference for oral medications and expanding usage of inhibitors of the hedgehog pathway are projected to promote revenue growth in the segment.
The parenteral segment accounted for a relatively smaller percentage of the market revenue share. However, higher efficacy of parenteral treatments as compared to other routes of administration and growing demand for monoclonal antibodies are expected to propel the growth of this segment during the forecast period.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market by Distribution Channel
Based on the distribution channel, the global basal cell and squamous cell carcinoma therapeutics market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacy segment dominated the basal cell and squamous cell carcinoma therapeutics market. The rise of this segment is attributed to increasing number of hospital admissions for the treatment of BCC and SCC, as well as the expanding usage of biologics to treat other cancers than melanoma. Parenteral medications are only delivered under the strict supervision of medical professionals, who typically buy them from hospital pharmacies. This factor is expected to lead to significant revenue growth in the segment during the forecast period.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market by Region
Based on the region, the global basal cell and squamous cell carcinoma therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America accounts for the leading revenue share of the global market. Increasing numbers of patients with basal cell and squamous cell carcinoma, existence of leading market players, launch of novel medicines, and favorable reimbursement policies are fueling revenue growth in the regional market. Additionally, the number of patients who qualify for oral and parenteral treatment options is growing due to the rising incidence of advanced BCC and SCC. Rise in demand for innovative medications for treating basal cells and SCC in the United States is expected to create significant revenue growth opportunities in the North America market during the forecast period. Additionally, the rising number of advanced phase clinical trials and increasing research and development activities are expected to drive market expansion in the region during the forecast period.
Basal Cell and Squamous Cell Carcinoma Therapeutics Market Competitive Landscape
The prominent players operating in the global basal cell and squamous cell carcinoma therapeutics market are:
Basal Cell and Squamous Cell Carcinoma Therapeutics Market Strategic Developments
The global basal cell and squamous cell carcinoma therapeutics market is expected to register a revenue CAGR of 8.3% during the forecast period from 2022 to 2030.
Sun Pharmaceutical Industries Ltd., Sanofi, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., and Merck & Co., Inc. are among the key players in the global basal cell and squamous cell carcinoma therapeutics market.
The hedgehog inhibitors pathway segment dominates the global basal cell and squamous cell carcinoma therapeutics market.
The market in Asia Pacific is expected to register the highest revenue growth during the forecast period.
The global basal and squamous cell carcinoma therapeutics market was valued at US$ 6.3 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain