Increasing Demand for Non-Invasive Diagnostic Methods Driving the Growth of Uveal Melanoma Treatment Market

Growing use of unique blood biomarkers in the treatment of uveal melanoma fuels the revenue opportunities for the uveal melanoma treatment market

The global uveal melanoma treatment market is demonstrating a steady growth due to surge demand for surgical resection techniques and radiation therapies to offer effective treatment. Besides this, access to improved reimbursement policies will emerge as a chief growth driver.

As per a study by the American Cancer Society, by 2021 nearly 106,110 new melanoma cases are likely to be diagnosed in the U.S. Nearly 7180 people might die due to the condition. Focus on effective treatment and diagnosis is increases in response to the surging cases of melanoma. This will create opportunities for the expansion of the market.  

Increasing awareness about melanoma and rising use of biomarkers in diagnosis and treatment will emerge as a chief driver of the demand for the melanoma treatment market. Besides this, technological developments in biotechnology will aid the overall expansion.

Growing incidence of ocular cancers and a surge in healthcare expenditure will drive the global uveal melanoma treatment market. Furthermore, a rise in the demand for advanced surgeries, innovative treatments, and high investment by governments are expected to drive the global market.

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The demand for uveal melanoma treatment is expected to be considerably high in North American and European countries. According to the study, the U.S. is expected to emerge as a key market. The increasing awareness about the condition and rising investment in clinical trials are two common trends driving growth in the U.S.

“Companies operating in the uveal melanoma treatment market are likely to focus on expanding their global presence. Consequently, collaborations and mergers & acquisitions have emerged as key strategies adopted among market players,” says the Fact.MR analyst.

Key Takeaways

  • In the U.S., soaring healthcare expenditure and increasing government investment in research & development are propelling the growth of the uveal melanoma treatment market
  • Europe is anticipated to lead the uveal melanoma treatment on the back surging incidence along with developed medical infrastructure
  • Owing to the increasing prevalence of eye cancer and the rapidly expanding healthcare infrastructure, Asia Pacific has emerged as the the fastest growing uveal melanoma treatment market
  • The Middle East will emerge as a highly lucrative market due to the prevalence of patients with eye cancer
  • Due to limited medical facilities, poor political conditions, and limited availability of funds, growth in Africa is restricted

Key Driving Factors

  • Surging demand for various surgical therapies for uveal melanoma treatment and rise in investment by governments in research & development of better ocular cancer treatments are boosting the market growth
  • Expansion of the healthcare infrastructure in emerging economies and rise in awareness about eye cancers will propel the uveal melanoma treatment market
  • Increase in disposable income is expected and willingness to spend on advanced treatment will create attractive opportunities for growth

Key Restraints

  • Lack of adequate skills and experience to conduct uveal melanoma treatment surgeries is negatively affecting growth
  • High costs of medicines and adverse effects of the treatment might hamper the global market growth.
  • Dearth of awareness about early signs of eye cancer is creating restrictions

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Competitive Landscape

Prominent players in the market include Pfizer Inc., Novartis AG, Eli Lilly & Co., Merck, Astra Zeneca plc, Bayer, Roche, Spectrum Pharmaceuticals Inc., GlaxoSmithKline Plc. Amgen Janssen Biotech, Inc., Immunomedics GlaxoSmithKline Plc., and Takeda Pharmaceuticals.

 

On June 29, 2015, Eli Lilly and Company and Immunocore Limited announced that they have entered into an immunotherapy-based clinical trial partnership to examine the usefulness for the treatment of melanoma.

More Insights on the Uveal Melanoma Treatment Market

Fact.MR has published unbiased analysis of the uveal melanoma treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of therapy type (surgical resection techniques, transpupillary thermotherapy, radiation therapies, external beam proton therapy, and gamma knife stereotactic surgery), location type (ciliary melanoma, iris melanoma, choroid melanoma) end user (hospitals, ambulatory surgical centers, ophthalmology clinics), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).

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