The global Head and Neck Cancer (HNC) Therapeutics market sales is expected to be worth US$ 5.19 billion by 2033, with a compound annual growth rate (CAGR) of 12.6% from 2023 to 2033. Developments in the detection and treatment of head and neck cancer (HNC) are projected to drive market growth because they are less expensive and easier to implement than procedures. The expanding senior population, as well as the increased prevalence of various forms of HNCs, are significant market drivers.
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Furthermore, an increase in R&D activities involving the development of novel therapeutic objectives and multimodal therapeutic strategies is expected to improve the survival rate of people with head and neck cancers. As the number of persons diagnosed with head and neck cancers rises, so does the global demand for novel cancer treatments. In recent years, there has been a dramatic increase in the number of instances of head and neck cancer. Each year, over 550,000 cases of head and neck cancer are detected, with over 300,000 people dying as a result of these diseases, according to a World Health Organisation (WHO) report.
North America will be the market leader in 2021. Among the significant variables impacting regional market expansion are government assistance for medical sector improvement, advantageous reimbursement policies, enhanced disease awareness, expanded R&D initiatives, and easy access to high-quality healthcare facilities.
Key Takeaways from the Market Study
- North America dominated the market in 2021, accounting for more than 45% of total sales.
- Head and neck cancer accounts for around 4% of all malignancies in the United States.
- China is a significant source of head and neck cancer, accounting for around 10% of all systemic malignant tumours each year.
- Retail and specialty pharmacies will dominate the sector in 2021, accounting for 58% of total sales.
- The global market for Head and Neck Cancer (HNC) Treatments is expected to be worth US$ 5.19 billion by 2033.
“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.
- Sanofi spent USD 1 billion to acquire Amunix Pharmaceuticals, Inc. in December 2021. This acquisition expands the company’s cancer product range and offers tremendous growth possibilities.
- The US Food and Drug Administration (FDA) approved KEYTRUDA, Merck’s anti-PD-1 treatment, in combination with chemotherapy, with or without bevacizumab, in October 2021. Merck & Co., Inc.’s Keytruda is administered intravenously as an infusion to patients 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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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