BASAL CELL CARCINOMA MARKET ANALYSIS

Basal cell carcinoma (BCC) is uncontrolled and abnormal growth is seen in the basal cells of the lower epidermis. It does not spread to other body parts but in the rare condition it may metastasize and can be proved as life-threatening; however, it may go deep in skin and bones. It is caused due to the overexposure to ultraviolet rays and the lesions formed during the BCC looks like open sores, red patches, or sometimes look like bumps. There are various treatment options available for the treatment of basal cell carcinoma which includes surgery, drugs, and others

The global basal cell carcinoma market is estimated to be valued at US$ 6,721.4 million in 2021 and is expected to exhibit a CAGR of 7.9% during the forecast period (2021-2028).

Figure 1. Global Basal Cell Carcinoma Market Share (%) in Terms of Value, by Treatment Type, 2021

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Increasing prevalence of skin malignancies is expected to drive the market growth during the forecast period.

The increasing prevalence of skin malignancies is expected to drive the global basal cell carcinoma market growth over the forecast period. For instance, according data published in The Skin Cancer Foundation in 2021, estimated that Basal cell carcinoma (BCC) is the most common form of skin cancer. Moreover, an estimated 3.6 million cases of BCC are diagnosed in the U.S. each year.

Figure 2. Global Basal Cell Carcinoma Market Share (%), by End User, 2021

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Product approval for the treatment of basal cell carcinoma are expected to drive the market growth during the forecast period.

Key players operating in the market are focusing on product approvals for the treatment of basal cell carcinoma, which is expected to drive the global basal cell carcinoma market growth during the forecast period. For instance, in June 2021, Sanofi, a French multinational pharmaceutical corporation headquartered in Paris, France, announced that the European Commission (EC) had approved Regeneron’s PD-1 inhibitor Libtayo (cemiplimab) to treat adults with locally advanced or metastatic basal cell carcinoma (BCC) who have progressed on or are intolerant to a hedgehog pathway inhibitor (HHI).

Global Basal Cell Carcinoma Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 256 million infected individuals worldwide as of November 22, 2021.

COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.

Furthermore, players operating in the global basal cell carcinoma market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.

Global Basal Cell Carcinoma Market: Restraint

The major factors that hinder the growth of the global basal cell carcinoma market include high costs for basal cell carcinoma treatment, after effects of the treatment, approval time for the drugs taking too long, and delay in accessing medical conditions. There is often a delay between the clinical emergence of a basal cell carcinoma (BCC) and the point in time at which the patient presents for definitive diagnosis and treatment. This acts as a restraint and can cause lesser demand in treatments owing to late diagnosis.

Key Players

Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Perrigo Company plc, Taro Pharmaceutical Industries Ltd.,  Provectus Biopharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Sanofi, and Mylan N.V.