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The global laryngeal cancer therapeutics market size is estimated to grow by USD 575.25 million at a CAGR of 5.43% between 2022 and 2027.
The proactive adoption of awareness initiatives and early cancer diagnosis programs is a significant driving force in the global market. These activities empower individuals to recognize the risk factors and symptoms of laryngeal cancer, leading them to seek medical assistance at an early stage of the disease. The improved outcome of treatment and increased survival rates for patients are often the result of early detection. The number of patients who will be able to access a wider range of treatments, such as surgery, radiation therapy, and developing targeted medicines, grows.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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Biologics
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 899.04 million in 2017. 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.
Offline
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.
Online
Online distribution channels are playing an important role in the market in focus. With the increased accessibility of the internet and digital platforms, these channels have become the key source of information and procurement of cancer treatment choices. Patients, carers, and health professionals can communicate with experts via the internet platforms to access current information about treatments and advice. In addition, it is possible to obtain a prescription and treatment through online pharmacies. Telemedicine services have grown in popularity, allowing for remote consultations and monitoring, which is very useful for throat cancer patients. The adoption of the online segment is expected to increase and hence drive the growth of the market in focus during the forecast period.
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North America is estimated to contribute 43% 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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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.
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.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
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.
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.
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.
The preference for alternative therapies is a major challenge in the market. Alternative therapies such as surgery for the removal of tumors and radiation therapy have dominated the treatment landscape for a long time. 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. 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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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
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is influenced by various factors, including the stage of the cancer, its location within the larynx, and the overall health of the patient. Treatment approaches are tailored to individual cases, considering the patient's preferences and the availability of related products. Management often involves a combination of medical devices, surgical equipment, and diagnostic tools.
Supportive care services are crucial, especially given the incidence of laryngeal cancer and the impact of disruptions like the pandemic on healthcare systems. Delays or changes in treatment plans, including elective surgeries and non-urgent procedures, have underscored the importance of personalized medicine and genomic testing for molecular profiling and targeted therapies.
In the North America region, advanced medical facilities and research institutions collaborate with specialized cancer centers, pharmaceutical and biotechnology companies, and academic and medical institutions. Key industry players drive research and development efforts, focusing on commercialization and collaboration opportunities. Public health campaigns emphasize the importance of early detection and diagnosis, while healthcare investments spur improvements in existing therapies and regulatory compliance. Despite a declining trend in the market, ongoing efforts aim to enhance the accessibility of laryngeal cancer treatments through healthcare infrastructure enhancements and research and development initiatives.
Laryngeal Cancer Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
Market growth 2023-2027 |
USD 575.25 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.75 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accord Healthcare Ltd., Amgen Inc., AstraZeneca Plc, 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., and Teva Pharmaceutical Industries Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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