A severe form of cancer, melanoma is commonly known as skin cancer. The population residing at higher altitude levels or in the close proximity to the equator, is the most susceptible to melanoma, as the symptoms are prominently initiated post-exposure to UV radiation that results in blistering sunburns. If diagnosed early in stage 0, melanoma can be surgically cured to almost 100%; however, when the disease metastizes in a body, it becomes strenuous to treat it due to the availability of a restricted range of treatment options. The selection of treatment line or systemic drug therapy entirely depends on the stage of melanoma.
Metastatic melanoma is the most severe stage (IV) of skin cancer that occurs when melanoma penetrates the skin deeper to reach various parts of a body, predominantly the subcutaneous tissue layer under the skin, lungs, bones, liver, brain, and lymph nodes. In the most severe case of metastasis, the gastrointestinal tract, adrenal glands, spleen, and heart can also be affected. Currently, only a limited set of therapies are available to promisingly treat burgeoning cases of metastatic melanoma patients. The disease thus requires more efficient and effective treatment options.
The prevalence of skin cancer in rising since the past few years (American Academy of Dermatology), which prompts at the growing demand for treatment options. The global metastatic melanoma market is driven by proven diagnostics and therapeutics, and has positive prospects following the ongoing research findings to treat the disease and extend patients’ life span. Technological developments and improving sophistication in healthcare facilities worldwide is a major factor supporting the market growth. Government initiatives related to early diagnosis and treatment awareness are playing a key role in pushing the metastatic melanoma market. Growing penetration of premium drug products and emergence of effective immune-therapies are also boosting the market further.
Metastatic Melanoma Market Trends
A new class of therapies is currently trending in the metastatic melanoma market, including targeted chemotherapy, targeted immunotherapy, targeted MAP-kinase therapy, anti-angiogenesis, and vaccines. While these therapeutic options individually aim to prolong patient life and maximize benefit, clinical trials are persisting in order to discover their combined benefits. Moreover, several new drugs and therapies are being invented and introduced to the market. In the near future, metastatic melanoma market may witness significant innovations in therapeutics, with a strong possibility of discovering customized therapy options.
For the stage IV melanoma, the U.S. FDA had approved only two drugs, including Dacarbazine (DTIC) and high-dose interleukin-2 (IL-2). However, both of these drugs have a range of side effects, and record successful treatment only in a negligible patient population. The market clearly needs a more effective class of treatments targeted to extended patient life span, substantial tumor shrinkage, and improved overall survival rate.
The recently approved drugs - BMY’s Yervoy (Ipilimumab) and Zelboraf (Vemurafenib) have entered the market with a promising outcome. The antitumor effects associated with these drugs are also being explored by researchers. Drugs such as Ipilimumab, Imatinib, and PLX4032 can be used in combination with a suitable therapy may result in an effective treatment for metastatic melanoma. In addition to drugs, several vaccines are trialled as well. The market may witness a new force of promising therapeutics in the near future.
Metastatic Melanoma Market: Region-wise Analysis
As per the regional analysis, the global market for metastatic melanoma is more pronounced in North America - especially in the U.S., as melanoma is one of the top cancer types affecting cancer patients in the U.S. The treatment rate is relatively higher as well. Europe is also a significant market, owing to rapid premium drugs invasion and increasing treatment rate. Asia Pacific is gradually emerging as a sizeable market for metastatic melanoma diagnostics and therapeutics.
Some of the key players in the global metastatic melanoma market are Abbott Diagnostics, Roche, GlaxoSmithKline, Agilent Technologies, Novartis, Merck, Sanofi, Pfizer, and Bristol-Myer Squibb.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.