Throat Cancer Therapeutics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Hungary, Poland, India - Size and Forecast 2024-2028

Throat Cancer Therapeutics Market 2024-2028

The global throat cancer therapeutics market size is estimated to grow by USD 2.33 billion at a CAGR of 7.51% between 2023 and 2028. 

The strong prevalence of throat cancer indications and the increasing incidence rate of pharyngeal cancer globally drive the throat cancer therapeutics market. Despite the increasing advances in the research of therapeutics and the healthcare infrastructure, the global throat cancer therapeutics market has witnessed an increase in the number of new cases in recent years. Further, despite the heavy use of therapeutics and the advent of novel drugs such as KEYTRUDA and OPDIVO, the mortality rate has increased only due to the lack of diagnosis in the early stages. The market is also witnessing the increasing adoption of therapeutics owing to the recent approvals of novel targeted therapies. This, along with the increasing awareness campaigns that aid in the early diagnosis of throat cancer indications, is expected to result in the growth of the market during the forecast period.

Technavio has segmented the market into  Type, Distribution Channel and Geography

• The type segment is classified into pharyngeal cancer and laryngeal cancer
• The distribution channel  segment is classified into offline and online
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the Size of the Throat Cancer Therapeutics Market During the Forecast Period?

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Throat Cancer Therapeutics Market Segmentation by Type, Distribution Channel and Geography Analysis

Type Analysis 

Pharyngeal cancer

The market share growth by the pharyngeal cancer segment will be significant during the forecast period. Pharyngeal cancer is a type of throat cancer that originates in the pharynx, which is a hollow tube that starts in the back of the nose and goes up to the top of the oesophagus. Based on the region of the origination of cancer in the pharynx, it can be classified into nasopharynx cancer, oropharynx cancer, and hypopharynx cancer. 

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The pharyngeal cancer segment was the largest and was valued at USD 2.41 billion in 2018. Despite the presence of various chemotherapy drugs, the pharyngeal cancer segment still witnesses a need for novel therapeutics for the treatment of the indication. Hence, vendors are conducting heavy research on novel therapeutics. For instance, YERVOY by BMS, TECENTRIQ and AVASTIN by Roche, IMFINZI by AstraZeneca, and BAVENCIO by Merck KgaA and Pfizer Inc. (Pfizer) are being studied in Phase III of clinical trials for the treatment of the indication. Upon approval, these drugs are expected to help in the increasing demand for therapeutics, thus resulting in the throat cancer therapeutics market overcoming the dominance of surgeries as the treatment option during the forecast period. Therefore, the pharyngeal cancer segment of the global throat cancer therapeutics market is expected to witness an accelerating growth momentum during the forecast period.

Distribution Channel Analysis 

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. Hospitals and specialized cancer treatment centers are the key offline distribution channels, offering a wide range of treatment options such as surgery, radiation therapy, and chemotherapy. Offline channels are expected to remain essential in this dynamic market for offering complete care and assistance to persons facing throat cancer and hence drive the growth of the global throat therapeutics market 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 throat cancer treatment choices. Through online platforms, patients, carers, and healthcare professionals can access up-to-date information and treatment guidelines and interact with specialists. Furthermore, the COVID-19 pandemic has accelerated the use of these online platforms, making them essential for the delivery and diffusion of throat cancer therapies globally. Owing to such factors, the adoption of the online segment is expected to increase and hence drive the growth of the global throat cancer therapeutics market during the forecast period. 

Regional Analysis

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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period.  North America was the largest contributing region in the global throat cancer therapeutics market, primarily due to the strong prevalence of both pharyngeal cancer and laryngeal cancer in the US. The prevalence of the disease has increased significantly in recent years, owing to the advanced healthcare infrastructure. The strong purchasing power of people is a major factor contributing to market growth, as the cost of treatment using therapeutics is often very high. The region is also benefiting significantly from the presence of multiple patient assistance programs by vendors and governments. These patient assistance programs help the patients to undergo treatment using therapeutics by reducing the cost burden.

For instance, KEYTRUDA could cost as much as USD 150,000 per year of treatment. To overcome this challenge, Merck has launched the Merck Co-Pay Assistance Program, which allows patients to undergo treatment at USD25 per year and provides a maximum of USD 25,000 per year per patient. This is expected to be one of the major drivers of market growth in the region during the forecast period.

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Key Throat Cancer Therapeutics 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 15 market companies, including:

Adlai Nortye Ltd.  - The company offers throat cancer therapeutics such as BKM120 Hydrochloride which is used for the treatment of recurrent or metastatic HNSCC and neck cancer.

• Amgen Inc.
• AstraZeneca Plc
• Bayer AG
• Bristol Myers Squibb Co.
• Celldex Therapeutics Inc.
• Clinigen Group Plc
• Eli Lilly and Co.
• F. Hoffmann La Roche Ltd.
• Merck KGaA,
• Moderna Inc,
• Novartis AG
• Pfizer Inc.,
• Regeneron Pharmaceuticals Inc.
• Sanofi SA

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.

Throat Cancer Therapeutics Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Throat Cancer Therapeutics Market Drivers

The growing use of tobacco products is one of the key major factors driving the market growth. This is due to the increasing use of tobacco products globally. Despite the decrease in the number of new smokers in recent years in developed countries, the overall number of smokers has increased significantly in the last two decades. This is primarily due to the increasing use of tobacco products in major Asian countries and some parts of Europe.  Developing countries in APAC, such as Indonesia, the Philippines, and China, have also witnessed an increase in tobacco consumption in recent years. 

Moreover, despite the increasing awareness campaigns and the rising initiatives by governments in Asian countries for the reduction of tobacco consumption, the market in the region has witnessed little to no change in smoking habits. As these countries are highly populated, the number of new cases of throat cancer in the region is expected to be the highest globally. The market is expected to benefit significantly from the increasing use of tobacco products during the forecast period.

Significant Throat Cancer Therapeutics Market Trends

A strong pipeline of throat cancer therapeutics is an emerging trend shaping the market growth. The global throat cancer therapeutics market has multiple chemotherapy drugs and only a few novel biologics approved for the treatment of throat cancer indications. The increasing prevalence of indications and the limited number of approved therapies in the market have resulted in a huge unmet need for therapeutics. To cater to the huge unmet need, various large and mid-sized pharmaceutical vendors are conducting heavy research on novel therapeutics for the treatment of throat cancer indications, including laryngeal cancer and pharyngeal cancer. 

Further, the market is also witnessing increasing research on regenerative therapies such as gene therapy. It is an approach that involves editing/modifying a gene in the laboratory and inserting it in the patient, which helps in silencing or modifying the mutated gene in the body. The throat cancer therapeutics market is expected to have multiple approvals and drug launches during the forecast period, thus contributing to the growth of the market.

Major Throat Cancer Therapeutics Market Challenges

Preference for alternative treatment options is a significant challenge hindering market growth. One of the major challenges faced by the global throat cancer therapeutics market is the strong preference for alternative treatment options. For a long time, a major share of patients with throat cancer preferred surgery as the primary treatment option, primarily due to the strong efficacy of the treatment and the quick recovery process associated with the surgery. Further, radiation therapy is another popular method for the treatment of both laryngeal cancer and pharyngeal cancer, which remains highly effective as the primary treatment option in these cases.

Also, It is the preferred treatment option for patients who cannot undergo treatment using surgery. The increasing advances in these treatment methods are expected to pose a major challenge to the growth of the global throat cancer therapeutics market during the forecast period.

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Key Throat Cancer Therapeutics 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 Throat Cancer Therapeutics Market Customer Landscape

Segment Overview

The throat cancer therapeutics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Type Outlook
  • Pharyngeal cancer
  • Laryngeal cancer

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina 
    • Australis

Throat Cancer Therapeutics Market Scope
Report Coverage	Details
Page number	158
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.51%
Market Growth 2024-2028	USD 2.33 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	6.31
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 38%
Key countries	US, Canada, Hungary, Poland, and India
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Adlai Nortye Ltd., Amgen Inc., AstraZeneca Plc, Bayer AG, Bristol Myers Squibb Co., Celldex Therapeutics Inc., Clinigen Group Plc, Eli Lilly and Co., F. Hoffmann La Roche Ltd., Merck KGaA, Moderna Inc, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., and Sanofi SA
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, 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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What are the Key Data Covered in this Throat Cancer Therapeutics Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the throat cancer therapeutics market between 2024 and 2028
• Precise estimation of the throat cancer therapeutics market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of throat cancer therapeutics market companies

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