According to a new report published by Allied Market Research, titled,"Head & Neck Cancer Drugs Market by Drug Class and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global head & neck cancer drugs market was valued at $1,295 million in 2017, and is expected to reach $2,281 million by 2025, growing at a CAGR of 7.3% from 2018 to 2025.
Head & neck cancer drugs include chemotherapy and targeted & immune therapeutic drugs, which are used alone or in combination for treatment of throat, larynx, nose, sinuses, lips, salivary glands, and mouth cancers. It is estimated that head & neck cancer drugs market is expected to exhibit significant market growth over the forecast period due to growth in number of target population, rise in demand for combination therapy, advancement in screening & diagnosis procedures, and expected launch of pipeline drugs such as Ipilimumab, Atezolizumab, Avelumab, Durvalumab, Erlotinib, Afatinib, and Bevacizumab.
Based on drug class, the global head & neck cancer drugs market is categorized as chemotherapy agents, immunotherapy, and targeted therapy. Chemotherapy was the major revenue contributing segment in 2017, due to increase in adoption of chemotherapeutics for treatment of head & neck cancer along with radiation therapy and rise in demand for combination therapy. However, the market for immune therapeutic drugs is projected to exhibit the fastest market growth during the forecast period owing to strong presence of pipeline drugs, rise in usage of Yervoy & Keytruda along with the supportive reimbursement policies for usage of immunotherapy drugs in some countries.
According to sales channel, the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online stores. Currently, drug stores & retail pharmacies segment is major revenue contributor due to massive presence of these pharmacies. However, online providers segment is expected to show fastest market growth over the forecast period due to rise in preference for online purchasing of drugs over the traditional methods and increase in awareness about online pharmacy with rise in number of internet users.
Key Findings of the Head & Neck Cancer Drugs Market:
Based on sales channel, the online stores segment is expected to experience fastest market and is projected to grow at a CAGR of 10.2% during the forecast period 2018-2025.
Depending on drug class, the chemotherapy segment held nearly half of the global market share in 2017, and is projected to grow at a CAGR of 4.0% from 2018 to 2025.
Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.7% during the forecast period.
North America accounted for nearly one-half of the global market share in 2017, and is expected to remain dominant throughout the forecast period. This was attributed to higher demand for head & neck cancer drugs, higher number target population, favorable reimbursement policies in healthcare system, increase in number of trained medical professionals with wide availability of the advance therapeutics. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to growing prevalence of head & neck cancer, upsurge in demand for head & neck cancer drugs with improvement in healthcare infrastructure.