PUBLISHER: The Business Research Company | PRODUCT CODE: 1415647
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415647
“Basal Cell Carcinoma Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on basal cell carcinoma treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for basal cell carcinoma treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The basal cell carcinoma treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Basal cell carcinoma (BCC) is a form of skin cancer originating from basal cells, which are responsible for generating new skin cells. It often appears as a small, translucent lump but can have varied presentations. Effective treatment strategies for basal cell carcinoma (BCC) involve tumor removal, considering tumor characteristics, location, size, patient preferences and the practicality of follow-up appointments.
The main types of basal cell carcinoma treatment are surgery, medication and other treatments. Surgery refers to a branch of medicine that involves treating diseases and conditions through operative or manual procedures, including cutting, abrading, suturing, or otherwise physically changing body tissues and organs and surgeries are also vital for basal cell carcinoma patients, removing tumors to achieve effective treatment and minimize damage. The treatments options are administered by oral, parenteral and other routes and are distributed through hospital pharmacy, online pharmacy and retail pharmacy channels for end users such as hospitals, specialty clinics and others.
The basal cell carcinoma treatment market research report is one of a series of new reports from The Business Research Company that provides basal cell carcinoma treatment market statistics, including basal cell carcinoma treatment industry global market size, regional shares, competitors with a basal cell carcinoma treatment market share, detailed basal cell carcinoma treatment market segments, market trends and opportunities and any further data you may need to thrive in the basal cell carcinoma treatment industry. This basal cell carcinoma treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The basal cell carcinoma treatment market size has grown rapidly in recent years. It will grow from $6.69 billion in 2023 to $7.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increasing prevalence of skin cancer, demand for laser therapy, demand for effective and minimally invasive treatments, rising awareness of basal cell carcinoma treatment.
The basal cell carcinoma treatment market size is expected to see strong growth in the next few years. It will grow to $10.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to growing focus on quality of life, aging population, growing research and development in immunotherapies, government initiatives. Major trends in the forecast period include advancements in treatment modalities, early detection technologies, advancements in targeted therapies, telemedicine integration.
The increasing occurrences of skin cancer, notably basal cell carcinoma, are anticipated to drive growth in the treatment market in the future. Skin cancer is characterized by the uncontrolled growth of abnormal cells in the skin, often linked to exposure to ultraviolet (UV) radiation from the sun or tanning devices. The growing prevalence of skin cancer, particularly basal cell carcinoma, underscores the need for targeted and specialized treatment options, driving the development and availability of effective medications tailored to combat this specific cancer type. For example, in January 2023, the American Cancer Society, Inc., reported that the United States witnessed approximately 5.4 million cases of basal and squamous cell skin cancer each year, affecting around 3.3 million individuals, with basal cell carcinoma accounting for eight out of every ten cases. Consequently, the increasing incidence of skin cancer, including basal cell carcinoma, is poised to stimulate growth in the treatment market.
The global increase in the elderly population is anticipated to act as a driving force behind the growth of the basal cell carcinoma treatment market. The term 'geriatric population' pertains to individuals typically aged 65 and older, and this group is more vulnerable to basal cell carcinoma (BCC) due to prolonged sun exposure, a primary risk factor for BCC. Consequently, the aging population's heightened susceptibility contributes to a greater demand for the diagnosis and treatment of BCC. For instance, data from the United Nations Department of Economic and Social Affairs in July 2022 predicts that the percentage of the global population aged 65 and above is set to rise from 10% in 2022 to 16% by 2050. Hence, the increasing geriatric population worldwide is a key driver for the growth of the basal cell carcinoma treatment market.
The high expenses related to therapeutics for basal cell carcinoma have the potential to exert an adverse impact on the growth of the basal cell carcinoma treatment market. These elevated costs create a barrier to the adoption of advanced treatments and limit access to care. Furthermore, the high price tags may hinder new market entrants and encourage established companies to innovate and differentiate their products. For example, in September 2023, according to the US-based National Library of Medicine, the average retail price for a standard prescription of imiquimod, a common treatment for basal cell carcinoma, is $118.08. The treatment cost for a giant basal cell carcinoma using radiation can range from $465 to $3,311, while vismodegib treatment can reach as high as $139,560. Consequently, the high expenses linked to basal cell carcinoma therapeutics present an obstacle to the growth of the basal cell carcinoma treatment market.
Leading companies in the basal cell carcinoma treatment market are dedicated to pioneering innovative technologies to address unmet medical needs in the field of oncology and fortify their market presence. For example, in February 2021, Regeneron Pharmaceuticals Inc., a US-based biopharmaceutical firm, and Sanofi SA, a France-based healthcare company, secured approval for Libtayo (cemiplimab-rwlc), a PD-1 inhibitor, marking it as the first immunotherapy treatment for individuals with advanced basal cell carcinoma (BCC). Libtayo's development leverages Regeneron's VelocImmune technology, a groundbreaking approach that uses a genetically engineered mouse platform with a genetically humanized immune system to produce highly effective human antibodies. Libtayo's historic approval stems from its demonstrated clinical benefits in advanced BCC cases post-HHI therapy, with comprehensive local and accelerated metastatic approvals contingent on trial assessments encompassing response rate, durability, and clinical benefit validation.
In July 2022, Regeneron Pharmaceuticals Inc., a US-based biopharmaceutical company, secured exclusive licensing rights to Libtayo from Sanofi SA for a sum of $900 million. This acquisition strengthens Regeneron Pharmaceuticals, Inc.'s presence in the field of oncology by granting it the rights to develop, market, and manufacture Libtayo, a prescription medication designed for the treatment of individuals with cutaneous squamous cell carcinoma (CSCC) and advanced basal cell carcinoma, two types of skin cancer. Sanofi SA, a pharmaceutical firm headquartered in France, is responsible for the development of the basal cell carcinoma treatment drug, Libtayo.
Major players in the basal cell carcinoma treatment market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Fresenius Kabi AG, AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Gilead Sciences Inc., Merck KGaA, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Perrigo Company PLC, Incyte Corporation, Ono Pharma UK Ltd., Cipla Inc., Lupin Limited, Mallinckrodt Pharmaceuticals, LEO Pharma A/S, BeiGene Ltd., Taro Pharmaceutical Industries Ltd., Blueprint Medicines Corporation, Array BioPharma Inc., Genentech USA Inc., Palvella Therapeutics LLC.
North America was the largest region in the basal cell carcinoma treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in basal cell carcinoma treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the basal cell carcinoma treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The basal cell carcinoma treatment market consists of revenues earned by entities by providing surgical excision, Moh's surgery, cryosurgery, photodynamic therapy (PDT) and laser therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The basal cell carcinoma treatment market also includes sales of topical treatment and advanced medication. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.