Head and Neck Cancer (HNC) Therapeutics market is forecast to reach US$ 5.19 Billion by 2033, growing at a CAGR of 12.6% until 2033
The global Head and Neck Cancer (HNC) Therapeutics market is anticipated to surpass a remarkable worth of US$ 1.58 Billion in 2023, with a compound annual growth rate (CAGR) of 12.6% from 2023 to 2033. Developments in the detection and treatment of head and neck cancer (HNC) are expected to propel market expansion as they are less costly and more concise to approach than surgeries. The increased prevalence of various types of HNCs, as well as the growing geriatric population, are substantial market drivers.
Moreover, an upsurge in R&D activities involving the development of novel therapeutic objectives and multidisciplinary therapeutic interventions is expected to improve the survival rate of people with head and neck cancers. As the number of people diagnosed with head and neck cancers continues to rise dramatically, there is a significant increase in the demand for novel cancer treatments all over the world. In recent years, there has been a substantial rise in the number of cases of head and neck cancer. According to a World Health Organization (WHO) report, there are over 550,000 cases of head and neck cancer each year, with approximately 300,000 deaths as a consequence of these cancers.
In 2021, North America led the market. Among the key factors that influence regional market expansion is government assistance for medical industry advancement, favorable reimbursement policies, higher disease awareness, increased R&D activities, and easy access to high-quality healthcare facilities.
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Key Takeaways from the Market Study
- North America dominated the market in 2021, accounting for roughly 45% of total revenue.
- Head and neck cancer accounts for approximately 4% of all cancers in the United States.
- China is a significant source of head and neck cancer, accounting for roughly 10% of all systemic malignant cancers each year.
- The retail and specialty pharmacies segment dominated the market in 2021, accounting for 58% of total revenue
- The global Head and Neck Cancer (HNC) Therapeutics market is expected to be worth $5.19 billion by 2033.
“The rapidly expanding pharmaceutical sector and rising penetration of online stores are the major factors expected to drive market growth during the forecast period. Furthermore, numerous development approaches such as collaborations, product launches, and adaptation of cutting-edge technologies have a positive impact on the market and drive overall growth” says FMI analyst.
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Key Market Players
Key players in the head and neck cancer (HNC) therapeutics market are Eli Lilly and Company, Sanofi, Merck & Co., Inc., Clinigen Group plc., Bristol-Myers Squibb Company, AstraZeneca, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd, Hoffmann-La Roche Ltd., Coherus BioSciences.
- In December 2021, Sanofi paid USD 1 billion to acquire Amunix Pharmaceuticals, Inc. This acquisition broadens the corporation’s oncology product portfolio and provides significant growth potential.
- In October 2021, the US Food and Drug Administration (FDA) approved KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemotherapy, with or without bevacizumab. Keytruda, a product of Merck & Co., Inc., is given intravenously as an infusion to individuals with head and neck cancer.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global head and neck cancer (HNC) therapeutics market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the head and neck cancer (HNC) therapeutics market, the market is segmented on the basis of Treatment Type (Chemotherapy, Targeted Therapy, and Immunotherapy), By Route of Administration (Injectable, Oral), By Channel (Retail & Specialty Pharmacies, Hospital Pharmacies, and Online Pharmacies), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Head and Neck Cancer (HNC) Therapeutics Market Industry Survey
By Therapy Type:
- Targeted Therapy
By Route of Administration:
- By Channel
Retail & Specialty Pharmacies:
- Hospital Pharmacies
- Online Pharmacies
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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