United States Melanoma Diagnostics & Therapeutics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.18 Billion |
| Market Size (2029) | USD 4.81 Billion |
| CAGR (2024 - 2029) | 8.58 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Melanoma Diagnostics & Therapeutics Market Analysis
The United States Melanoma Diagnostics & Therapeutics Market size is estimated at USD 3.18 billion in 2024, and is expected to reach USD 4.81 billion by 2029, at a CAGR of 8.58% during the forecast period (2024-2029).
The increasing number of melanoma cases, the emphasis on early detection and treatment, and manufacturers actively seeking regulatory approvals are expected to drive the growth of the United States melanoma diagnostics and therapeutics market.
The higher incidence of melanoma, driven by increased sun exposure and the aging population, leads to a higher demand for early detection and effective treatment. For instance, according to January 2024 stats from the American Cancer Society, approximately 100,640 new invasive melanoma cases are expected to be diagnosed in 2024, with around 59,170 cases in men and 41,470 in women. In comparison, only 89070 invasive melanoma cases were estimated to have occurred in 2023.
As per the above-mentioned source, individuals with lighter skin tones face a heightened risk for melanoma. The lifetime probabilities of developing melanoma stand at approximately 3% (1 in 33) for White individuals, 0.1% (1 in 1,000) for Black individuals, and 0.5% (1 in 200) for Hispanic individuals. Therefore, the higher incidence of melanoma drives increased demand for early detection and effective treatment, fueling the growth of the melanoma diagnostic and therapeutic market over the forecast period.
The increased likelihood of diagnosing very early-stage melanoma in screened individuals will drive the demand for biopsy devices. Early detection requires precise diagnostic tools, boosting the market for biopsy devices as healthcare providers aim to identify and treat melanoma at its earliest stages. For instance, according to data of an observational study supported by National Cancer Institute and published in May 2022, individuals who underwent skin cancer screening were more likely to be diagnosed with very early-stage melanoma compared to those who did not undergo screening. Therefore, with rising awareness, the number of screenings are anticipated to rise. Again, as healthcare providers need precise diagnostic tools to identify and treat melanoma at its earliest stages, the increasing screening is expected to positively impact the demand for melanoma diagnostics during the forecast period.
Manufacturers actively engage in marketing efforts, including receiving government approvals and forming partnerships to expand their market presence. For instance, in October 2023, Bristol Myers Squibb Company received the United States Food and Drug Administration (FDA) approval for Opdivo (nivolumab) for the adjuvant treatment of adult and pediatric patients aged 12 years and older with wholly resected stage IIB or IIC melanoma. This approval expanded the adjuvant indication for Opdivo and reinforced the company's commitment to offering treatment options for melanoma patients.
Due to the factors mentioned above, such as the growing burden of melanoma cases, rising adoption of early detection and skin cancer treatment, and manufacturers focusing on marketing approval, the market is expected to grow in the coming years.
However, the high cost associated with the therapy will significantly hinder their adoption in the forecast period.
United States Melanoma Diagnostics & Therapeutics Market Trends
The Immune Therapy Segment is Expected to Witness a Significant Growth Over the Forecast Period
Immune therapy, or immunotherapy, is a cancer treatment that enhances the body’s immune system to recognize and attack cancer cells. This approach is particularly effective in treating advanced melanoma, as it can help prevent the spread of the disease and, in some cases, provide a cure. It offers various treatment options specifically for melanoma, such as neoadjuvant immunotherapy. Neoadjuvant immunotherapy provides a promising treatment option for high-risk melanoma patients. It is an immunotherapy given before surgery to help prepare the immune system to fight and eliminate tiny cancer cells that might have spread from the primary tumor.
For instance, according to an article published in the ESMO Open Journal in May 2024, neoadjuvant immunotherapy is increasingly crucial in treating high-risk, surgically resectable melanoma patients. As per the same source, patients with high-risk melanoma face a rapidly evolving and increasingly complex landscape of immunotherapeutic treatments. Therefore, this advanced method improves patient outcomes and accelerates the development of new diagnostic and therapeutic strategies. The growing use of neoadjuvant immunotherapy increases the need for advanced diagnostic tools to assess tumor response and optimize treatment strategies.
Additionally, the Food and Drug Administration’s (FDA’s) approval of new immunotherapy options for melanoma significantly drives the market’s growth. For instance, in March 2024, the FDA approved lifileucel (Amtagvi), the first cancer treatment that uses immune cells called tumor-infiltrating lymphocytes, or TILs. These innovative treatments, which show encouraging results, have intensified the demand for precise and prompt diagnoses. As targeted therapies become more accessible, the demand for accurate patient stratification intensifies. For instance, in March 2022, the FDA approved a new treatment for metastatic or inoperable melanoma, a severe form of skin cancer. Developed from research at the Johns Hopkins Kimmel Cancer Center, this treatment used two immunotherapy agents, relatlimab (anti-LAG-3) and nivolumab (anti-PD-1). Therefore, the growing FDA approval of immunotherapies drives the market by expanding treatment options and improving patient outcomes. As a result of this trend, investments in research and development are on the rise, leading to heightened market growth and greater awareness of melanoma treatments.
Moreover,
Hence, the adoption of neoadjuvant immunotherapy is increasing, advanced method options are growing, and manufacturers are focusing on initiatives, including FDA approval, which is expected to grow in the coming years.
The Biopsy Devices Segment is Expected to Witness a Significant Growth Over the Forecast Period
Biopsy devices are specialized tools used to extract tissue or cells from the body for assessment under a microscope. These devices help diagnose various conditions, including cancer, by allowing pathologists to analyze the sample for abnormalities. By enabling pathologists to scrutinize the extracted tissue, these devices are pivotal in diagnosing various conditions, notably cancer.
The evolving landscape of melanoma diagnosis, particularly the integration of molecular diagnostics with traditional histological methods, enhances the accuracy of detecting and staging melanoma. This advancement improves patient outcomes and increases reliance on biopsy devices, as precise diagnostics necessitate high-quality tissue sampling. For instance, an article published in Frontiers in November 2023 stated the evolving landscape of melanoma diagnosis, emphasizing the importance of molecular diagnostics alongside traditional histological methods. It highlights that new technologies, including qRT-PCR technology, can improve the accuracy of melanoma detection and staging, influencing the development and use of biopsy devices. In conclusion, the industry's shift towards advanced diagnostic techniques will drive the growth of biopsy devices as healthcare providers increasingly seek reliable tools for accurate melanoma detection and management.
Additionally, the rise in cutaneous melanoma cases strongly drives this segment's growth. For instance, according to an article published in the World Journal of Clinical Oncology in October 2022, the incidence of cutaneous melanoma is increasing, primarily due to solar radiation exposure. Clinically suspected cutaneous melanoma requires a thorough evaluation of suspected lesions using complete diagnostic excision biopsies. Thus, the rising number of cutaneous melanoma will increase the demand for biopsy devices, significantly boosting market growth as healthcare providers seek practical diagnostic tools.
Thus, factors such as the increasing incidence of melanoma, particularly cutaneous melanoma, and the integration of molecular diagnostics in biopsy devices are anticipated to drive the growth of this segment over the forecast period.
United States Melanoma Diagnostics & Therapeutics Industry Overview
The United States melanoma diagnostics & therapeutics market is moderately fragmented due to several companies operating in the region. Major players in the market are majorly focused on regulatory approval as well as product launches to expand their presence in the United States market. The competitive landscape includes analyzing companies holding the market shares, including Amgen, Inc., Bristol-Myers Squibb, F. Hoffman-La Roche Ltd., GlaxoSmithKline PLC, Merck & Co., Inc., Novartis AG, and others.
United States Melanoma Diagnostics & Therapeutics Market Leaders
-
Amgen, Inc.
-
Bristol-Myers Squibb Company
-
F. Hoffman-La Roche Ltd.
-
GlaxoSmithKline PLC
-
Merck & Co., Inc.
*Disclaimer: Major Players sorted in no particular order
United States Melanoma Diagnostics & Therapeutics Market News
- November 2024: Replimune Group, Inc., a biotechnology company specializing in oncolytic immunotherapies, has sought FDA approval for its advanced melanoma treatment, RP1, when used alongside nivolumab. The biologics license application (BLA) was submitted through the FDA's Accelerated Approval pathway. Notably, in June 2024, the FDA awarded RP1, used alongside nivolumab, the Breakthrough Therapy designation.
- September 2024: The U.S. Food and Drug Administration granted fast-track designation to the development of VMT01, a targeted alpha-particle therapy (212Pb), for diagnosing and treating patients with unresectable or metastatic melanoma, particularly those showing melanocortin one receptor (MC1R) expression. VMT01 specifically targets tumor sites that express MC1R, a protein frequently overexpressed in metastatic melanoma, delivering the alpha-emitting isotope 212Pb.
United States Melanoma Diagnostics & Therapeutics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Melanoma Cases
4.2.2 Rising Technological Advancements
4.3 Market Restraints
4.3.1 High Cost Associated with the Therapy
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Product Type
5.1.1 Diagnostics
5.1.1.1 Biopsy Devices
5.1.1.2 Dermatoscopy Devices
5.1.2 Therapeutics
5.1.2.1 Biological Therapy
5.1.2.2 Chemotherapy
5.1.2.3 Immune Therapy
5.1.2.4 Targeted Therapy
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amgen, Inc.
6.1.2 bioMérieux SA
6.1.3 Bristol-Myers Squibb
6.1.4 DermTech
6.1.5 F. Hoffman-La Roche Ltd.
6.1.6 GlaxoSmithKline PLC
6.1.7 Merck & Co., Inc
6.1.8 Novartis AG
6.1.9 Pfizer, Inc.
6.1.10 Quest Diagnostics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
United States Melanoma Diagnostics & Therapeutics Industry Segmentation
As per the scope of the report, melanoma is one of the serious types of skin cancer that develops from pigment-containing cells called melanocytes. Melanomas typically occur in the skin but may rarely occur in the mouth, intestines, or eye. The United States melanoma diagnostics & therapeutics market is segmented by product type, into diagnostics and therapeutics. By diagnostics, the market is further bifurcated into biopsy devices and dermatoscopy devices, while by therapeutics, the market is segmented into biological therapy, chemotherapy, immune therapy, and targeted therapy. The report offers the value (in USD) for the above segments.
| By Product Type | ||||||
| ||||||
|
United States Melanoma Diagnostics & Therapeutics Market Research FAQs
How big is the United States Melanoma Diagnostics & Therapeutics Market?
The United States Melanoma Diagnostics & Therapeutics Market size is expected to reach USD 3.18 billion in 2024 and grow at a CAGR of 8.58% to reach USD 4.81 billion by 2029.
What is the current United States Melanoma Diagnostics & Therapeutics Market size?
In 2024, the United States Melanoma Diagnostics & Therapeutics Market size is expected to reach USD 3.18 billion.
Who are the key players in United States Melanoma Diagnostics & Therapeutics Market?
Amgen, Inc., Bristol-Myers Squibb Company, F. Hoffman-La Roche Ltd., GlaxoSmithKline PLC and Merck & Co., Inc. are the major companies operating in the United States Melanoma Diagnostics & Therapeutics Market.
Which is the fastest growing region in United States Melanoma Diagnostics & Therapeutics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in United States Melanoma Diagnostics & Therapeutics Market?
In 2024, the North America accounts for the largest market share in United States Melanoma Diagnostics & Therapeutics Market.
What years does this United States Melanoma Diagnostics & Therapeutics Market cover, and what was the market size in 2023?
In 2023, the United States Melanoma Diagnostics & Therapeutics Market size was estimated at USD 2.91 billion. The report covers the United States Melanoma Diagnostics & Therapeutics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Melanoma Diagnostics & Therapeutics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Melanoma Diagnostics & Therapeutics Industry Report
Statistics for the 2024 United States Melanoma Diagnostics & Therapeutics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Melanoma Diagnostics & Therapeutics analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
