Head and Neck Squamous Cell Carcinoma Market anticipated to grow at 7% to 9% during the forecast period | FMI
During the projection period between 2022 and 2032, the global head and neck squamous cell carcinoma market is projected to expand at a strong CAGR of between 7% and 9%.
The emergence of new type of cancer in the recent year have increase the research and development and clinical trials which create a huge opportunity for the oncology drug market to grow in the near future. Head and neck squamous cell carcinoma is the sixth leading cancer worldwide by incidence. Head and neck squamous cell carcinoma progresses from the mucosal membrane, comprising the paranasal sinuses and nasal cavity, the nasopharynx, the hypopharynx, larynx, and trachea, and the oropharynx and oral cavity.
According to WHO, The annual incidence of head and neck squamous cell carcinoma worldwide is more than 550,000 cases with around 300,000 deaths every year. Alcohol and tobacco is the risk factor for head and neck squamous cell carcinoma. Five years survival rate of patients with head and neck squamous cell carcinoma is about 40-50%.
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Head and Neck Squamous Cell Carcinoma: Market Dynamics
Treatment for cancer has been advancing at an accelerated pace in last few years, which offer notable improvement in the clinical benefits to the cancer patients which will significantly boost the head and neck squamous cell carcinoma market in the near future.
The pipeline of therapeutic innovation and associated clinical trial activity and increased number of approved cancer therapies continue to rise which is expected to boost the head and neck squamous cell carcinoma market in the forecast period. Global spending on cancer treatment and medicines continues to rise along with the supportive and therapeutic care globally which will drive the head and neck squamous cell carcinoma market.
However, High rate of complications, low quality of life and lack of early detection of head and neck squamous cell carcinoma hamper the growth for head and neck squamous cell carcinoma market. The high cost of clinical trials and low success rate also hinder the growth of head and neck squamous cell carcinoma market.
Head and Neck Squamous Cell Carcinoma: Overview
Advancement in the technology is likely to progress faster in oncology owing to terminal disease prevalence and increase in patient risk which creates a huge opportunity for the head and neck squamous cell carcinoma market to significantly grow in the forecast period. Development of novel treatment and favourable reimbursement scenario along with the collaboration of pharmaceutical companies to improve access to cancer care in low and middle-income countries drive the market of head and neck squamous cell carcinoma. Strong focus on the areas with high cancer mortality rates by the companies and government funding will spur the head and neck squamous cell carcinoma market.
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Head and Neck Squamous Cell Carcinoma: Region-wise Outlook
The North America market for Head and Neck Squamous Cell Carcinoma holds the largest revenue share, due to increasing research and development and rapid technological advances along with the rising government funding towards cancer creates a huge opportunity for the head and neck squamous cell carcinoma. For instance, in 2017, The US National Cancer Institute (NCI) spend $5,636.4 Mn funds in the cancer research areas. Europe accounts for the second large revenue share in the global head and neck squamous cell carcinoma market, owing to favorable reimbursement policies and increasing prevalence of head and neck cancer and increasing spending on the drug development for cancer.
The Asia Pacific is expected to witness rapid growth in the head and neck squamous cell carcinoma market, owing to increasing healthcare awareness which is driving investments in this sector along with the increased incomes which are also catalyzing healthcare expenditure in developing countries such as India. China is expected to register significant growth in the Head and Neck Squamous Cell Carcinoma market, due to high-quality cancer care treatment available, increasing an aging population, economic growth and expanding basic health insurance. Latin America and Middle East & Africa are projected to exhibit slow growth in head and neck squamous cell carcinoma market, owing to poor access to care, and limited technical infrastructure and low quality of cancer data systems in Africa.
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Head and Neck Squamous Cell Carcinoma: Key Players
Examples of some of the key players present in the global head and neck squamous cell carcinoma market are Amgen, AbbVie, Bristol-Myers Squibb, AstraZeneca, Eli Lilly, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd, Celgene Corporation among others.
The report covers exhaustive analysis on,
- Head and Neck Squamous Cell Carcinoma Market Segments
- Head and Neck Squamous Cell Carcinoma Market Dynamics
- Historical Actual Market Size, 2012 – 2016
- Head and Neck Squamous Cell Carcinoma Market Size & Forecast 2016 to 2024
- Head and Neck Squamous Cell Carcinoma Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Head and Neck Squamous Cell Carcinoma Market Drivers and Restraints
Regional analysis includes
- North America
- Latin America
- Asia Pacific Excluding China
- Middle East & Africa
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