Head & Neck Cancer Drugs Market to Reach $2.2 Bn by 2025, Globally, at 7.3% CAGR: Allied Market Research
PORTLAND, Oregon, Feb. 27, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Head & Neck Cancer Drugs Market by Drug Class (Chemotherapy, Immunotherapy, and Targeted Therapy) and Sales Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Stores): Global Opportunity Analysis and Industry Forecast, 2018 - 2025." The report offers an extensive analysis of key market segments, top winning strategies, research methodology, evolving market trends, key segments, list of key players, market size & estimations, and competitive landscape. According to the report, the global head & neck cancer drugs market was estimated at $1.2 billion in 2017 and is expected to hit $2.2 billion in 2025, registering a CAGR of 7.3% from 2018-2025.
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Recent launch of advance drugs for treatment of head and neck cancer, increase in global geriatric population and rise in consumption of tobacco & alcohol has fueled the growth of global head & neck cancer drugs market. On the other hand, preferable use of radiation therapy over the drug therapy in initial stage has happened to restrain the growth to some extent. Simultaneously, Growth opportunities in emerging market with rise in purchasing power, increase in incidence of head & neck cancer and developing healthcare infrastructure and rise in number of pipeline drugs have made space for multiple opportunities in the sector.
Chemotherapy to maintain its leadership status by 2025
By drug class, chemotherapy contributed to nearly half of the total market and is expected to retain its headship status by 2025. Increase in adoption of chemotherapeutics along with radiation therapy for treatment of head & neck cancer has coaled the growth of the market. Also, rise in use of use of chemotherapeutics drugs in combination with other drugs has fueled the cause in more than one way.
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Drug stores & retail pharmacies to rule the market during the estimated period
By sales channel, the drug stores & retail pharmacies segment contributed to nearly three-fifth of the total market and is anticipated to maintain its stand by 2023, airing a CAGR of 6.5%. Easy drug availability in the pharmacies has escalated the growth of the sector.
North America to dominate the market throughout the forecast period
The market of Head & Neck Cancer Drugs is evaluated across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). North America accounted for nearly half of the total market share and is anticipated to maintain a CAGR of 6.3% from 2018-2025. Presence of major key players in the province, easy availability of exclusive drugs, high purchasing power, improved reimbursement policies and increase in prevalence of cancer have made the region hold the largest market share.
Leading market players
Key market players evaluated in the research include Bristol-Myers Squibb Company, Eli Lilly and Company (ARMO Biosciences), F. Hoffmann-La Roche Ltd. (Genentech, Inc.), Merck KGaA (EMD Serono, Inc.), AstraZeneca PLC, Immutep Limited, Fortress Biotech, Inc. (Checkpoint Therapeutics, Inc.), Merck & Co., Inc., Novartis AG, and Pfizer Inc. The winning strategies they follow have helped them maintain their status in the market. Also, their unique outlook towards the market has been right behind their success story.
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