MELANOMA TREATMENT MARKET ANALYSIS

Melanoma Treatment MarketSize and Trends

Development of new drugs fuels the melanoma treatment market

Several drugs in the market have already received FDA approval for melanoma treatment and some are under development. Drugs such as seviprotimut-L by Polynoma’s, talimogene laherparepvec (T-VEC) by Amgen Inc., and zelboraf, by Roche and Genetech together for the treatment of cutaneous melanoma are under development. Selumetinib is under development by AstraZeneca for the treatment of ocular melanoma. In 2011, Yervoy, a monoclonal antibody drug was developed by Bristol-Myers Squibb for the treatment of melanoma and it is the first drug to receive FDA approval. Immunotherapy drugs include opdivo and keytruda, which got FDA approval and created new opportunities in melanoma treatment market. When chemotherapy fails to deliver results, targeted therapy is used, which include BRAF inhibitors. Targeted therapy has limited side effects in comparison with chemotherapy. According to Cancer Research Institute, in 2016, there were around 76,000 people diagnosed with melanoma in the U.S. The development of novel drugs and combination therapy with limited side effects and better survival rates is expected to fuel the melanoma treatment market growth. The increased focus on personalized medicine with a huge investment in anti-melanoma drugs is expected to create new opportunities in near future. However, high price of combination therapies and clinical trial with side effects act as restraints for the melanoma treatment market.