The global Head and Neck Cancer (HNC) Therapeutics market is estimated to exceed an astounding valuation of US$ 5.19 Billion by 2033, with a compound yearly growth rate (CAGR) of 12.6% from 2023 to 2033. Developments in the detection and treatment of head and neck cancer (HNC) are expected to propel market expansion as they are less costly and more concise to approach than surgeries. The increased prevalence of various types of HNCs, as well as the growing geriatric population, are substantial market drivers.
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Furthermore, an increase in research and development activities involving the creation of novel therapeutic objectives and multimodal therapeutic strategies is projected to enhance the survival rate of persons with head and neck cancers. As the number of people diagnosed with head and neck cancers continues to climb, there is a huge increase in global need for innovative cancer treatments. The frequency of cases of head and neck cancer has increased significantly in recent years. According to a World Health Organization (WHO) report, over 550,000 cases of head and neck cancer are diagnosed each year, with over 300,000 people dying as a result of these diseases.
North America will lead the market in 2021. Government help for medical sector improvement, favourable reimbursement policies, improved disease awareness, expanded R&D efforts, and easy access to high-quality healthcare facilities are among the important factors influencing regional market progress.
Key Takeaways from the Market Study
- In 2021, North America dominated the market, accounting for over 45% of total sales.
- In the United States, head and neck cancer accounts for about 4% of all cancers.
- China is a major source of head and neck cancer, accounting for around 10% of all systemic malignant tumours each year.
- In 2021, retail and specialty pharmacies dominated the industry, accounting for 58% of total revenue.
- By 2033, the global market for Head and Neck Cancer (HNC) Treatments is estimated to be worth $5.19 billion.
“The rapidly expanding pharmaceutical sector and rising penetration of online stores are the major factors expected to drive market growth during the forecast period. Furthermore, numerous development approaches such as collaborations, product launches, and adaptation of cutting-edge technologies have a positive impact on the market and drive overall growth” says FMI analyst.
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Key Market Players
Key players in the head and neck cancer (HNC) therapeutics market are Eli Lilly and Company, Sanofi, Merck & Co., Inc., Clinigen Group plc., Bristol-Myers Squibb Company, AstraZeneca, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd, Hoffmann-La Roche Ltd., Coherus BioSciences.
- In December 2021, Sanofi paid USD 1 billion to acquire Amunix Pharmaceuticals, Inc. This acquisition broadens the corporation’s oncology product portfolio and provides significant growth potential.
- In October 2021, the US Food and Drug Administration (FDA) approved KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemotherapy, with or without bevacizumab. Keytruda, a product of Merck & Co., Inc., is given intravenously as an infusion to individuals with head and neck cancer.
More Insights Available
North America dominates the head and neck cancer diagnostics market due to the high prevalence of the disease and the availability of advanced diagnostic technologies. The United States accounts for the largest share in the region, followed by Canada. The region is also home to many key players in the market, making it highly competitive.
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Key Segments Profiled in the Head and Neck Cancer (HNC) Therapeutics Market Industry Survey
By Therapy Type:
- Chemotherapy
- Immunotherapy
- Targeted Therapy
By Route of Administration:
- Injectable
- Oral
- By Channel
Retail & Specialty Pharmacies:
- Hospital Pharmacies
- Online Pharmacies
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