US Driving Global Melanoma Treatment Market Value to $3.6 Billion by 2020

The global melanoma therapeutics market was valued at $1.3 billion in 2013 and will expand at a Compound Annual Growth Rate (CAGR) of 15.4% to reach $3.6 billion by 2020, according to business intelligence provider GBI Research.

The company’s latest report* states that the majority of this impressive increase, which relates to eight major countries (the US, Canada, Germany, France, Italy, Spain, the UK and Japan), will occur in the US, where the market value will rise from approximately $1 billion in 2013 to $2.6 billion by the end of the forecast period.

Fiona Chisholm, Analyst for GBI Research, states that the prolific growth anticipated in the US is primarily attributable to the increasing prevalence of cutaneous melanoma, rising treatment rates and the expanded uptake of recently approved and emerging premium drugs.

Chisholm explains: “The US has the biggest baseline market size, due to its large population, higher prevalence and treatment rates, and greater annual cost of therapy, meaning it commanded just under 78% of the market in 2013.

“Several recently approved and upcoming pipeline drugs have demonstrated improved clinical benefits, including Yervoy in the adjuvant disease setting and Opdivo and Keytruda in the advanced disease setting. As these treatments are expected to be priced highly, they will be substantial contributors to growth as new entrants during the forecast period.”

While US growth will be the largest globally in value terms, treatment rates and market infiltration of premium drugs are likely to increase at a more rapid rate in the top five EU markets, resulting in higher market expansion.

However, the fastest growth will occur in Japan, where the melanoma treatment market will increase at a CAGR of 25.8% from $2.8 million in 2013 to $14.2 million by 2020.

Chisholm continues: “Japan is the only major market that remains largely dominated by generic drugs. As there are fewer treatment options and greater unmet needs, there will be a more pronounced and positive impact on its market from new entrants with superior safety and efficacy profiles to conventional chemotherapy drugs.

“Following Opdivo’s recent approval, Zelboraf, Tafinlar, Mekinist and Yervoy are likely to be approved by 2020 and will command premium pricing. As a result, the Japanese market will experience rapid and unprecedented expansion over the forecast period.”

*Melanoma Therapeutics Market to 2020 - Rising Prevalence and Evolving Treatment Algorithms to Drive Market Growth