The Asia Pacific Skin Cancer Market is growing with a rapid pace. According to a recent study report published by the Market Research Future, the Asia Pacific Skin Cancer Market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2023, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017-2023).
Skin cancer is the one of the most common type of cancers. Skin cancer causes uncontrolled/abnormal skin growth. Unrepaired DNA or genetic defects are amongst the major cause of the disease. There are three major types of skin cancer: basal cell skin cancer (BCC), squamous-cell skin cancer (SCC) and melanoma. The basal cell skin cancer is the most common type of cancer. Over 100 different types of cancer are found across the globe but skin cancer is the most common form of cancer. It is estimated to account for at least 30% of total reported cancer cases. According to the (World Health Organization) WHO, it is estimated that a 10% decrease in the ozone level is likely to result in an additional 300,000 non-melanoma and 4,500 melanoma skin cancer cases. Increasing prevalence of skin cancer is a major driver for market growth within the region. Furthermore, extensive R&D pipelines and increasing usage of combination therapies have fuelled the growth of the market. However, stringent regulatory guidelines, side effects associated with the treatment and stringent FDA approvals are estimated to restrain the market growth over the forecast period.
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Asia Pacific Skin Cancer Market – Competitive Analysis
Hoffmann-la Roche Ltd. (Switzerland), Novartis International AG (Switzerland), Sun Pharma Industries Ltd. (India), Elekta AB (Sweden), Varian Medical Systems Inc. (US), Cannabis Science Inc. (US), Cellceutix Corp. (US), LEO Pharma A/S (Denmark), Moberg Pharma AB (Sweden), Mylan Pharmaceutical Inc. (US), Oncothyreon Inc. (US), Eli Lilly and Co. (US), Bristol Myers Squibb Co. (US), Boehringer Ingelheim GmbH (Germany), Aqua Pharmaceuticals LLC (US), Valeant Pharmaceuticals Inc (Canada), Meda AB (US), iCAD Inc. (Sweden), and Merck & Co. Inc. (US) and others are some of the prominent players at the forefront of competition in the Asia Pacific Skin Cancer Market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the Asia Pacific skin cancer market appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
In November, 2017- Roche announced that the company entered into an agreement with Viewics, Inc., a privately held software company focused on laboratory business analytics. Under the agreement, Roche is estimated acquire all shares of the company. The acquisition allowed Roche to expand its leading position in the Integrated Core Lab with business analytics capabilities, enabling laboratories to make faster data-driven informed decisions on their operations and processes.
In November, 2016- Novartis announced to acquire Selexys Pharmaceuticals Corporation, a company specializing in development of therapeutics in certain hematologic and inflammatory disorders. Novartis exercised its right to acquire Selexys following receipt of results of the SUSTAIN study, a Phase II trial evaluating the use of SelG1, an anti-P-selectin antibody, in the reduction of vaso-occlusive pain crises in patients with sickle cell disease (SCD).
In August, 2016- Mylan N.V. announced that it has completed the settlement of its recommended public offer to the shareholders of Meda Aktiebolag to tender all their shares in Meda to Mylan. As previously announced, the offer was accepted by shareholders holding approximately 94% of the total number of outstanding shares and votes in Meda, as of July 29, 2016. Upon the completion and settlement of the offer, Mylan acquired each of these shares in accordance with the terms of the offer. The Offer was initially announced on Feb. 10, 2016 and it was declared unconditional on Aug. 2, 2016. The acceptance period expired on July 29, 2016 and will not be extended.
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Asia Pacific is the fastest growing skin cancer market due to the presence of economies like Japan, Australia, and China. It is estimated that the increasing prevalence of skin cancer in Japan is driving the growth of this region. Additionally, increasing government support for research and continuous development in technology is an important driving factor for the growth of the Asia Pacific market.
There are three major types of skin cancer namely basal cell skin cancer (BCC), squamous-cell skin cancer (SCC) and melanoma. Exposure to the radiation during childhood can cause melanomas and basal-cell cancers. People with light skin are more susceptible to the skin cancer.
The Asia Pacific skin cancer market is driven by increasing prevalence of skin cancer, the presence of developing economies and increasing government support. Australia accounts for the largest market share owing to a huge number of a patient having skin cancer. While adverse effect associated with the treatment, long approval time for the drugs, and strict regulatory policies may restrain the growth of the market over the corresponding period.
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Asia Pacific skin cancer market is segmented on the basis of type, by treatment, and by end users. On the basis of the type, it is segmented into basal cell carcinoma, squamous-cell carcinoma, and melanoma. On the basis of the treatment, it is segmented into non-invasive, chemotherapy, surgical, and other. Furthermore, non-invasive treatments are segmented into laser therapy, radiotherapy, photodynamic therapy, cryotherapy, and others, chemotherapy is segmented into systemic and targeted, and Surgical treatment are segmented into photodynamic therapy, cryosurgery, Mohs micrographic surgery, and others. On the basis of end users, the market is segmented into hospital and clinics, diagnostic centers, cancer research institute, and other.
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