Decrease in Demand of Basal Cell Carcinoma Treatment Market to Restrict Revenue Growth During the Forecast Period 2022 to 2031
Surgical treatment dominates with the highest revenue amongst all treatment options in the basal cell carcinoma treatment market, with a projected value of US$ 6 billion by the end of 2025. Mohs surgery is found to be an effective treatment for basal cell carcinoma (BCC), whereas, surgical excision accounts for the highest revenue amongst surgical treatment types.
Companies in the basal cell carcinoma treatment market are introducing improved formulations of molecular targeting agents approved by the FDA. For instance, vismodegib and sonidegib are two oral inhibitors approved by the FDA for the treatment of advanced BCC. A study published by the department of dermatology at the Keio University School of Medicine, Japan, stated that, antifungal drugs help to significantly reduce tumor size in BCC patients. Pharmaceutical companies in the basal cell carcinoma treatment landscape are increasing production capabilities of immune checkpoint inhibitors that are novel drugs with promising outcomes in patients associated with advanced melanomas. Patients are increasingly benefitting from these drugs, since they activate the body’s own immune system to destroy cancel cells.
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Key Takeaways of Basal Cell Carcinoma Treatment Market Study
- Electrochemotherapy is gaining increased popularity in the basal cell carcinoma treatment space for the management of recurrent eyelid-periocular skin tumors. This treatment serves as an efficient, safe, and cost-effective treatment option for BCC patients.
- Biological therapies such as PD-1 inhibitors act as efficacious drugs that activate the immune system to shrink tumors.
- Companies in the basal cell carcinoma treatment market are increasing the availability of advanced medications, such as FDA-approved Imiquimod. This medication is being increasingly used after the treatment of BCC to kill any remaining cancer cells.
- Apart from North America and Asia Pacific, healthcare providers in Brazil and other countries of Latin America are increasingly adopting photodynamic therapy for BCC treatment. This trend is predicted to lead to exponential growth of the basal cell carcinoma treatment market in Latin America.
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Innovations in Radiation Technology and Drugs Improve Quality of Life for Patients
Growing popularity of radiation therapy encourages market players to experiment with new technologies in the basal cell carcinoma treatment market. For instance, in May 2019, Xstrahl – a manufacturer of X-ray therapy systems – announced the launch of the RADiant Treatment System that uses radiotherapy to treat non-melanoma skin cancers, including BCC and other dermatological conditions.
Lucrative opportunities in drugs have triggered market growth. For instance, in July 2019, Sanofi – a France-based multinational biopharmaceutical company – revealed that, Libtayo® (cemiplimab), an immune checkpoint inhibitor, is being investigated with the help of several clinical trials to assess its effectiveness for BCC.
Healthcare companies in the basal cell carcinoma treatment market are developing new drugs induced with aptamer-functionalized liposomes. They are also providing resources for sternectomy in hospitals and specialty clinics. Curative indications of sternectomy are improving the quality of life in patients.
Analysts at Fact.MR predict that, “Companies in the basal cell carcinoma treatment market can achieve business stability by increasing resource availability for surgeries. They should focus for business expansion in Asia Pacific and Latin America, owing to the growing popularity of photodynamic therapy and the emergence of contract research organizations, especially in Asia Pacific.”
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Find More Valuable Insights on Basal Cell Carcinoma Treatment Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global basal cell carcinoma treatment market, presenting historical demand data (2017-2019), and forecast statistics for the period of 2020-2025. The study divulges compelling insights on the basal cell carcinoma treatment market on the basis of treatment (surgery, drugs, and others) and end user (hospitals, specialty clinics, and others), across five major regions.
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