The global head and neck cancer therapeutics market is on track to achieve unprecedented growth, with projections indicating a surge beyond the US$ 5.19 Billion mark by 2033. According to recent research, the market is anticipated to surpass an impressive worth of US$ 1.58 Billion in 2023, with a compound annual growth rate (CAGR) of 12.6% from 2023 to 2033.
The driving force behind this exponential growth is attributed to advancements in the detection and treatment of head and neck cancer (HNC), offering less costly and more concise approaches compared to traditional surgical methods. Additionally, the rising prevalence of various types of HNCs, coupled with the expanding geriatric population, serves as substantial market drivers.
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“In recent years, there has been a substantial rise in the number of cases of head and neck cancer,” stated a World Health Organization (WHO) report, which estimates over 550,000 cases of HNC annually, resulting in approximately 300,000 deaths.
Furthermore, the surge in research and development activities focused on novel therapeutic objectives and multidisciplinary therapeutic interventions is expected to significantly enhance the survival rate among individuals diagnosed with head and neck cancers.
The promising trajectory of the head and neck cancer therapeutics market underscores the urgent need for innovative solutions to combat this pervasive disease. As stakeholders unite efforts to address this global health challenge, collaborations between researchers, clinicians, and industry leaders are expected to drive transformative advancements in HNC diagnosis, treatment, and patient care.
Key Takeaways from the Market Study:
- North America dominated the market in 2021, accounting for roughly 45% of total revenue.
- Head and neck cancer accounts for approximately 4% of all cancers in the United States.
- China is a significant source of head and neck cancer, accounting for roughly 10% of all systemic malignant cancers each year.
- The retail and specialty pharmacies segment dominated the market in 2021, accounting for 58% of total revenue
- The global Head and Neck Cancer (HNC) Therapeutics market is expected to be worth $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.
- 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.
Key Segments Profiled in the Head and Neck Cancer (HNC) Therapeutics Market Survey:
By Therapy Type:
- Chemotherapy
- Immunotherapy
- Targeted Therapy
By Route of Administration:
- Injectable
- Oral
- By Channel
Retail & Specialty Pharmacies:
- Hospital Pharmacies
- Online Pharmacies
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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