Market Trends of Global Metastatic Melanoma Drugs Industry
This section covers the major market trends shaping the Metastatic Melanoma Drugs Market according to our research experts:
Immunotherapy Drugs Segment is Expected to Witness Growth Over the Forecast Period
Immunotherapy drugs are promising new drugs which use proteins on immune cells as checkpoints to start or boost the immune response of the patient. They also prevent the patient's own immune system to attack normal or healthy cells. Moreover, according to Memorial Sloan Kettering Cancer Center, immunotherapy drugs have proven to be very effective against metastatic melanoma which cannot be removed completely by surgery as immunotherapy drugs empower the immune system to recognize and fight cancer, unlike other therapies which directly attack cancer cells causing severe side effects. Unlike chemotherapy, which acts directly on cancerous tumors, immunotherapy treats patients by acting on their immune system. Immunotherapy can boost the immune response in the body as well as teach the immune system how to identify and destroy cancer cells, thus having less side effects than chemotherapy. Hence, owing to the advantages offered by immunotherapy drugs, the adoption of these products is likely to increase among the target population, ultimately driving the market growth.
In addition, according to the report titled 'Immunotherapy in the Treatment of Metastatic Melanoma: Current Knowledge and Future Directions' by the journal of NCBI published in 2020, stated that the introduction of immunotherapy drugs has completely changed the approach for the treatment of metastatic melanoma. Additionally, it was also mentioned that studies have proven the increase of PD-1 in melanoma, which means a strong downregulation of activated T cells that helps the maintenance of tumor cells so in the future immunotherapy with anti-PD1 antibodies-based drugs will also prove to be effective. Thus, the increasing adoption of immunotherapy drugs creates demand for technically advanced immunotherapy-based drugs and is creating opportunities for the growth of the segment in the future.
Furthermore, continuous Food and Drug Administration (FDA) approvals of products by major players in the market are positively affecting the growth of the segment. For instance, in December 2021 Merck & Co., Inc., announced that the FDA has approved Keytruda, Merck's anti-PD-1 therapy, (FDA) to treat adults and children ages 12 and older with stage IIB or IIC melanoma after they've undergone surgery to remove their tumors. Further, in May 2021 Bristol-Myers Squibb Company announced new six-and-a-half-year data from CheckMate-067, a randomized, double-blind, Phase 3 clinical trial, demonstrating durable improvement in survival with first-line Opdivo (nivolumab) plus Yervoy (ipilimumab) therapy and Opdivo monotherapy, versus Yervoy alone, in patients with advanced melanoma.
Therefore, the immunotherapy drugs segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America Dominates the Metastatic Melanoma Drugs Market
North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced drugs, high prevalence of metastatic melanoma, and high awareness among patients about metastatic melanoma in the region. For instance, according to the American Cancer Society, Inc. melanoma is more than 20 times more common in white Americans than in African Americans. Overall, the lifetime risk of getting melanoma is about 2.6 percent. An increase in the usage of drug-based therapies for rapid and effective results in the United States is among the key factors which contribute to the growth of the studied market in North America.
Key research and development activities, high concentration of market players, or manufacturer's presence in the United States are some of the factors driving the growth of the metastatic melanoma drugs market in the country. For instance, In March 2021 Bristol-Myers Squibb Company, a United States-based company announced the primary results from the Phase 2/3 RELATIVITY-047 (CA224-047) trial evaluating the fixed-dose combination of relatlimab, an anti-LAG-3 antibody, and Opdivo (nivolumab) versus Opdivo alone in patients with previously untreated metastatic or unresectable melanoma. Moreover, in October 2021 Merck & Co., Inc., a United States based company announced new data from studies evaluating KEYTRUDA, Merck's anti-PD-1 therapy, at the Society for Melanoma Research (SMR) 2021 Congress. This study was based on patients with metastatic melanoma.
Therefore, owing to the aforesaid factors the studied market is anticipated to show promising growth in the North America Region.
