Laryngeal Cancer Therapeutics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, Germany, UK, Japan - Size and Forecast 2024-2028

Laryngeal Cancer Therapeutics Market Size 2024-2028

The global laryngeal cancer therapeutics market size is estimated to grow by USD 648 million at a CAGR of 5.8% between 2023 and 2028. The incidence of laryngeal cancer is on the rise, driven by various factors including increased exposure to risk factors and changes in population demographics. In response to this growing concern, the number of reimbursement programs available for laryngeal cancer treatments is also increasing. These programs are crucial in making necessary medical interventions more accessible and affordable for patients. Additionally, there is a notable rise in awareness and early detection efforts for laryngeal cancer. Public health campaigns and advancements in diagnostic technologies are contributing to earlier diagnosis, which is vital for effective treatment and improved patient outcomes. Together, the expansion of reimbursement programs and heightened awareness are playing significant roles in addressing the challenges posed by the increasing prevalence of laryngeal cancer. Alternative therapies such as surgery for the removal of tumors and radiation therapy have dominated the treatment landscape for a long time. The market forecasting also includes an in-depth analysis of drivers, trends, and challenges. Our market forecast report examines historic data from 2018 to 2022, besides analyzing the current market scenario.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

Application Analysis

The market share growth by the biologics segment will be significant during the forecast period. Biologics are the drugs made from living organisms or drugs that contain certain components of living organisms. Monoclonal antibodies, recombinant proteins, tissues, and genes are some of the most commonly used biologics for the treatment of various oncology indications. The use of these medicinal products is frequently very effective and has little or no undesirable effects, given the high degree of stability of biologics.

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The biologics segment was valued at USD 933.20 million in 2018. The ability of biologics to stimulate the body's immune system to act against cancer cells is one of the major factors for the increasing growth of this segment. The novel mechanism of action (MoA) of such drugs is expected to extend more efficient treatment, which would lead to a wider patient base, thereby driving market growth. Designations of the biological substances are supposed to lead quickly to their approval, thus adding significant value to the market growth during the forecast period.

Distribution Channel Analysis

Offline distribution channels are crucial in the market in focus. While internet platforms have grown in popularity, traditional channels remain dominant due to the sensitive nature of healthcare items and the requirement for personal consultations. Offline distribution is mainly through hospitals and specializes in laryngeal and throat Cancer treatment centers, offering a wide range of treatment options such as surgery, radiation therapy, and chemotherapy. They're providing a one-stop for patients who want to see an oncologist and get their medical care. Offline channels are expected to remain essential in this dynamic market for offering complete care and assistance to persons facing the problem and hence drive the growth of the market in focus during the forecast period.

Regional Analysis

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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In recent years, the North American market has shown a dynamic landscape. The increased incidence rates, especially due to cigarette and alcohol consumption, fuelled market expansion. 

However, the introduction of novel medicines, such as checkpoint inhibitors paired with radiation, promises to enhance patient outcomes. Furthermore, it could improve access to care by integrating telemedicine into consultations and follow-ups. Owing to all these factors, the market in North America is expected to witness strong growth during the forecast period and is expected to retain its position as the top region.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Amgen Inc. - The company offers Vectibix R as a first-line treatment in patients with recurrent and metastatic squamous cell head and neck cancer.

• AstraZeneca Plc
• Accord Healthcare Ltd. 
• Athenex Inc.
• Bayer AG
• Bristol Myers Squibb Co.
• Celldex Therapeutics Inc.
• Eli Lilly and Co.
• F. Hoffmann La Roche Ltd.
• Fresenius SE and Co
• KGaA
• Hangzhou Adlai Nortye Biopharma Co. Ltd.
• Hanmi Pharm Co. Ltd.
• Hikma Pharmaceuticals Plc
• Merck and Co. Inc.
• Pfizer Inc., Regeneron Pharmaceuticals Inc.
• Sanofi
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics

The laryngeal cancer therapeutics market is advancing with a focus on personalized medicine and novel therapies to combat the increasing incidence of glottis cancer. Targeted therapies and immunotherapy are emerging as efficient treatments, offering hope for improved outcomes. Enhanced imaging technologies and molecular diagnostics are enhancing diagnostic techniques, allowing for earlier and more accurate detection. Oral drugs and parenteral administration methods are integral to modern treatment regimens, supported by advancements in medical devices and surgical equipment. Supportive care services are essential for managing treatment disruptions and improving patient quality of life. Addressing risk factors such as smoking, alcohol intake, chemicals, and pollutants remains crucial, while ongoing research into innovative therapeutic approaches continues to drive progress in this field.

Key Market Drivers

The increasing number of reimbursement programs is driving growth in the market. The Global market has been favorably influenced by an expanding number of reimbursement schemes. Governments all across the world are recognising the necessity of providing financial aid to cancer patients, particularly those with this problem. The proactive adoption of awareness initiatives and early cancer diagnosis programs is a significant driving force in the global market.

However, patient access to cutting-edge treatments has been significantly improved with very little effort. These reimbursement programs not only relieve financial pressures on patients but also motivate pharmaceutical companies to spend on R&D, fostering innovation in the therapies and throat cancer industry. Such factors are expected to drive the growth of the market focus during the forecast period.

Significant Market Trends

The increasing prevalence of precision medicine is a key trend in the market. Tailoring treatments based on tumor genetic and molecular characteristics is a market-changing trend. The strategy of precision medicine allows a high degree of personalized and effective treatment. Clinicians can prescribe medicines that are more likely to target cancer cells with precision by analyzing the specific genetic abnormalities or biomarkers present in a patient's tumor. 

Advances in genomic sequencing technology, which provide thorough tumor profiling, are supporting this trend. It provides oncologists with the capacity to make data-driven treatment decisions that may lead to better results while reducing unnecessary treatments. Thus, the increasing prevalence of precision medicine is expected to contribute to the growth of the market in focus during the forecast period.

Major Market Challenges

The preference for alternative therapies is a major challenge in the market. The popularity of surgery as a cancer treatment is increasing due to its high efficacy in early and late stages, especially when used with radiation therapy. Moreover, the advances in surgical methods are helping in overcoming the challenges of side effects of the surgery, which is contributing to the increasing demand for surgery.

However, laser surgery performed through the mouth is a major surgical advancement that minimizes skin invasion during treatment. The increasing advances in these treatment methods are expected to pose a major challenge to the growth of the global market during the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Type Outlook
  • Biologics
  • Small molecules

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Argentina
    • Australia
    • Rest of the World 

Market Analyst Overview

The market is rapidly evolving with significant healthcare investments aimed at improving cancer care infrastructure and treatment outcomes. The increasing prevalence of chronic obstructive pulmonary diseases, hoarseness, and persistent cough has heightened the need for advanced diagnostic tools, including genomic testing and molecular profiling. Specialty centers and cancer research centers are pivotal in developing innovative therapies, such as immunotherapies and minimally invasive surgical methods. Public awareness campaigns and screening programs are crucial for early detection and managing treatment disruption. However, challenges like treatment cost, adverse effects, and regulatory obstacles impact accessibility. To address these issues, healthcare expenditure is directed towards enhancing outpatient care, drug delivery systems, and specialized homecare services. As the aging population grows, there is a push for alternative treatment options and ambulatory surgical centers to ensure effective, personalized care and support skilled personnel in clinical trials.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market's competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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