Head and Neck Cancer Drugs/Therapeutics Market size was valued at $ 1.45 Billion by 2019, and is anticipated to grow at a CAGR of 8.65% during the forecast period 2020-2025. The Head and Neck Cancer Drugs/Therapeutics Market growth rate is attributed to development of innovative and cost-effective treatments, numerous side effects related to radiation therapy and chemotherapy, increased healthcare expenditure, and better government initiatives are poised to accelerate the growth of the market in the forecast period of 2020-2025. A variety of different malignant tumors that form in or around the throat, larynx, nose, sinuses, tongue, salivary glands, and mouth include head & neck cancers. For the treatment of head & neck cancer, there are various types of drugs used individually or in combination. Targeted immune therapies are emerging as a standard treatment choice for advanced-stage head & neck cancers, while conventional chemotherapeutic drugs are preferably used in combination with radiation therapy.
Increase in prevalence of head & neck cancer across geographies, increase in demand for combination therapy for head & neck cancer treatment and growth in the number of R&D activities to establish the optimal therapeutic drive for the growth of the global market for drugs for head & neck cancer. Furthermore, an increase in the number of risk factors such as the increase in the number of cigarette smoking, alcohol & tobacco use is also poised to drive the growth of the global demand for head & neck cancer drugs. Despite these drivers, the head and neck cancer market is associated with several problems. Market development is anticipated to be affected by the high costs associated with the treatment strategy, the side effects of available treatment choices, the lack of health coverage, and the inadequate healthcare infrastructure in low- and middle-income countries.
Head and Neck Cancer Drugs/Therapeutics Market Segment Analysis - By Application
On the basis of application, chemotherapy segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 8.5%. The reason behind robust growth is being attributed to the increase in usage of chemotherapeutic drugs during radiation therapy and rise in benefits of combination therapy. Currently, drugs such as bleomycin, cetuximab, docetaxel, paclitaxel, capecitabine, hydroxyurea, methotrexate, docetaxel, 5-fluorouracil, and methotrexate are approved for treatment of head & neck cancer. Therefore, surge in prevalence of head & neck cancer and rise in adoption of chemotherapeutics for treatment of head & neck cancer along with other therapeutics drive the market growth of this segment.
Apart from this, the demand for immunotherapy is anticipated to increase during the forecast period 2020-2025 owing to rise in adoption of targeted immune therapeutics drugs and strong presence of pipeline drugs. Drugs such as Pembrolizumab (Keytruda) by Merck & Company and Nivolumab (Opdivo), developed by Bristol-Myers Squibb are approved by the U.S. food and drug administration (FDA) for the treatment of recurrent or metastatic head & neck squamous cell carcinoma (HNSCC), which has not been stopped by platinum-based chemotherapy.
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Head and Neck Cancer Drugs/Therapeutics Market Segment Analysis - By Geography
North America dominated the Head and Neck Cancer Drugs/Therapeutics Market with a share of 38.65% in 2019. The application of Head and Neck Cancer Drugs/Therapeutics has grown rapidly over the last few years owing to the presence of patient population, increasing prevalence of head and neck cancer, well-developed technology, high healthcare expenditure, and the presence of leading market players. The head and neck cancer accounts for nearly 3% of all cancers in the United States. In 2017, around 63,030 people developed head and neck cancer.
Furthermore, owing to the large population base, increased incidence of head & neck cancer, and increased demand for head & neck cancer combination therapeutics, Asia-Pacific offers lucrative growth opportunities for the main players operating in the market for head & neck cancer drugs. Furthermore, risk factors such as increased alcohol intake, increased cigarette smoking and higher tobacco use are expected to drive the growth of the industry.
Head and Neck Cancer Drugs/Therapeutics Market Drivers
Increase in immunotherapy adoption by several countries across the world
Presently, growing the use of immunotherapy in many nations around the world is an opportunity for players in other regions to build on and further develop. It is possible that PD inhibitors would win a substantial market share and help increase overall franchise sales. Furthermore, recent advances in cancer research have permitted successful therapeutic targeting of a patient’s own immune system. Leading pipeline drugs such as Imfinzi (durvalumab) and Bavencio (avelumab) are to be launched during the forecast period 2020-2025 thereby driving the market.
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Head and Neck Cancer Drugs/Therapeutics Market Challenges
High product cost and incapacitating side-effects
Market growth is poised to be hampered by the high costs associated with the treatment strategy, the side effects of available treatment choices, the lack of health coverage, and the inadequate healthcare infrastructure in low- and middle-income countries. Moreover, major challenges faced by this patient population are morbidity issues and poor quality of life owing to the incapacitating effects of standard of care treatment paradigms. Anemia, diarrhea, nausea, vomiting, joint pain, and osteoporosis are some of the main side effects resulting from head and neck cancer treatments.
Head and Neck Cancer Drugs/Therapeutics Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Head and Neck Cancer Drugs/Therapeutics Market. In 2019, Head and Neck Cancer Drugs/Therapeutics Market share is fragmented by the top ten players present in the market. Head and Neck Cancer Drugs/Therapeutics Market top 10 companies are AB Science SA, AbbVie Inc., Acceleron Pharma, Inc., AdDent Inc., ASAHI Roentgen, Astellas Pharma Inc., AstraZeneca Plc., Bayer AG, Boston Biomedical, Inc., Bristol-Myers Squibb Company, Carestream, Fujifilm Holdings, GE Healthcare, Identafi, Koninklijke Philips N.V., and others.
Acquisitions/Product Launches
In November 2017, The U.S. Food and Drug Administration (FDA) approved a very first biosimilar for the treatment of cancer. Mvasi (bevacizumab-awwb) is LAMBDA Research Accelerated first drug for the treatment of adult patients with certain brain, colorectal, kidney, lung, and cervical cancers.
Key Takeaways
North America dominated the Head and Neck Cancer Drugs/Therapeutics Market with a share of 38.65% in the year 2019.
The factors such as growing geriatric population, huge research funding in oncology and unmet medical needs are amongst the major factor projected to impel growth of Head and Neck Cancer Drugs/Therapeutics Market.
Constant increase in prevalence of head & neck cancer across geographies, rise in demand for combination therapy for management of head & neck cancer, and growth in number of R&D activities to develop ideal therapeutic are the key factors owing to the growth in the segment during forecast period 2020-2025.
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