Head and Neck Cancer Drugs Market Anticipated to Record 7.9 % CAGR Through 2030

The head and neck cancer drugs market size is projected to reach from USD 1.51 billion in 2021 to USD 2.99 billion by 2030, It is expected to grow at a CAGR of 7.9% from 2021 to 2030.

The head and neck cancer drugs are used for the diagnostics and treatment of head and neck cancer. Various types of treatments and methods are used for the treatment of head and neck cancer. Those treatments are immunotherapy, chemotherapy, targeted therapy, and radiation therapy. The head and neck cancer drugs are sold through online pharmacies, retail pharmacies, and hospital pharmacies.

The rising geriatric population is one of the key drivers driving the growth of the global head and neck cancer drugs market over the forecast period. The senior or old people are more prone towards the head and neck cancer. As age pass, the bones become very weak especially bones of neck. After 40, many women suffer from spondylosis, which sometimes also leads towards the neck cancer if not treated properly. As a result, the growing geriatric population is driving the growth of the global head and neck cancer drugs market.

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The growing number of target diseases is also leading to the expansion of the global head and neck cancer drugs market. In addition, the development and launch of biosimilars for the treatment of cancer is supporting the growth of the head and neck cancer drugs market during the projected period. The government initiatives and efforts for the development and launch of new products is creating growth prospects for the head and neck cancer drugs market in developed and developing regions.

The research and development initiatives carried out by key market players for the launch of new products in the market is also paving way for the development of global head and neck cancer drugs market. The rising number of clinical trials in the field of healthcare is also boosting the growth of the worldwide head and neck cancer drugs market. Also, the growing healthcare sector in different countries is creating lucrative opportunities for the expansion of the global head and neck cancer drugs market during the forecast period.

Report Highlights:

• Based on the treatment type, the chemotherapysegment dominated the global head and neck cancer drugs market in 2020 with largest market share. This is due to the rising usage of chemotherapeutic drugs and medications for the treatment of cancer.
• On the basis of sales channel, the retail pharmaciessegment holds the largest market share the global head and neck cancer drugs market in 2020.This is attributed to the wide availability of drugs in the retail pharmacies.
• North America is the largest segment for head and neck cancer drugs market in terms of region. The head and neck cancer drugs market in North America region is growing due to rising prevalence of cancer.
• Asia-Pacific region is the fastest growing region in the head and neck cancer drugs market.The Asia-Pacific head and neck cancer drugs market growth is attributed to the growing healthcare expenditure and rising awareness for the treatment of various types of cancer.

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Future of Head and Neck Cancer Drugs Market

The market for head and neck cancer drugs is rising due to the growing prevalence of head and neck cancer. As per the estimates made by cancer.net, in the U.S., head and neck cancer accounts for around 4% of all cancers. An estimated 66,630 people are diagnosed with head and neck cancer in 2020. It is also estimated that around 14,620 people died due to head and neck cancer drugs. This number is growing at a steady pace and is expected to grow in coming years. Thus, due to this factor, the global head and neck cancer drugs market is estimated to grow in the near future.

COVID-19 Impact Analysis:

• There was moderate impact of the COVID-19 pandemic on the growth of the global head and neck cancer drugs market.
• The supply chain disruption and halt of manufacturing and production units resulted in the slow down of production process of head and neck cancer drugs in the market.
• The ongoing research and development activities had positive impact on the expansion of the global head and neck cancer drugs market during the forecast period.

Key Developments in the Marketplace:

The key market players are adopting wide range of strategies to extend their customer reach and expand their market reach. For example, Bavencio and Imfinzi drugs approval is likely to provide Pfizer and AstraZeneca with considerable market opportunities throughout the predicted period. Several industry participants are expected to focus on meeting unsatisfied demands, developing better medication products, and recognizing new targets as a result of this.

Some of the key players in the head and neck cancer drugsmarket include:

• AstraZeneca PLC
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Fortress Biotech, Inc
• F. Hoffmann-La Roche Ltd.
• Immutep Limited
• Merck & Co., Inc.
• Merck KGaA
• Novartis AG
• Pfizer Inc.

Market Segmentations:

By Treatment Type

• Targeted Therapy
• Chemotherapy
• Radiation Therapy
• Immunotherapy

By Sales Channel

• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

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