Global Basal Cell Carcinoma Market, by Treatment Type (Surgical (Surgical Excision, Electrodessication & Cutterage ED&C, Moh's Surgery, and Cryosurgery), Drugs (Topical Treatment, Advanced Medication, and Other), and Others (Radiation Therapy, Photodynamic Therapy PDT, and Laser Therapy), by End User (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,721.4 Mn in 2021 and is expected to exhibit a CAGR of 7.9% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key trends in the market include robust product pipeline which is expected to drive the growth over the forecast period. For instance, in August 2021, Medivir AB, a Swedish biotech company, announced that positive data from the investigator-initiated study evaluating the effects of remetinostat in basal cell carcinoma (BCC) patients had been published in Clinical Cancer Research is a peer-reviewed medical journal on oncology. This clinical study was conducted at the Stanford University School of Medicine in California, U.S.
Global Basal Cell Carcinoma Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has drastically affected several clinical trials. Various trials have been paused enrollment and researchers are facing multiple challenges associated with setting up remote visits, and performing laboratory and other study assessments. For instance, according to a survey conducted by Medidata Solutions, Inc. (a U.S. based technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies. The U.S. Food and Drug Administration (FDA) released guidelines on conducting clinical trials of medical products during the COVID-19 public health emergency in March 2020. The guidelines were further updated on July 02, 2020. The guidelines issued by the U.S. Food and Drug Administration (FDA) include general considerations to assist sponsors and researchers, which ensure the safety of trial participants, and compliance with good clinical practice (GCP) for the duration of the COVID-19 public health emergency.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Basal Cell Carcinoma Market”- Global Forecast to 2028, Global Basal Cell Carcinoma Market, by Treatment Type (Surgical (Surgical Excision, Electrodessication & Cutterage ED&C, Moh's Surgery, and Cryosurgery), Drugs (Topical Treatment, Advanced Medication, and Other), and Others (Radiation Therapy, Photodynamic Therapy PDT, and Laser Therapy), by End User (Hospitals, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Basal Cell Carcinoma Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/basal-cell-carcinoma-market-4794
Moreover, increasing research and development expenditure by key players, organizations, countries, and others is expected to aid in growth of the global basal cell carcinoma market over the forecast period. For instance, according to the Congressional Research Service Report April 2020, the total global R&D expenditure increased by three folds, which was US$ 676 billion to US$ 2.0 trillion in the year 2000 and 2018, respectively.
Key Takeaways of the Global Basal Cell Carcinoma Market:
- The global basal cell carcinoma market is expected to exhibit a CAGR of 7.9% during the forecast period, due to key companies in the market focusing on research and development for the treatment of basal cell carcinoma is expected to boost growth of the market. For instance, in January 2020, PellePharm, a biotechnology company committed to targeting rare dermatological diseases, including Gorlin Syndrome and Basal Cell Carcinomas, announced it had dosed the first two participants in a phase II clinical trial of Patidegib Topical Gel, 2%, vs. vehicle gel for people with non-Gorlin High Frequency Basal Cell Carcinoma (HF-BCC).
- In terms of end user, hospitals segment is estimated to hold largest market share in global basal cell carcinoma market over the forecast period, owing to in increasing prevalence of basal cell carcinoma. For instance, according to an article published in PubMed in 2021, estimated that there were 4.0 million cases of basal cell carcinoma globally in 2019.
- Among the regions, Asia Pacific estimated to exhibit highest CAGR in global basal cell carcinoma market over the forecast period, owing to key players in the market are focusing on acquisition in order to enhance its product offering and increase its market share. For instance, in December 2016, Sun Pharmaceutical Industries Ltd, India’s biggest drug maker, planned to acquire skin cancer drug Odomzo from Swiss firm Novartis AG for an upfront payment of US$ 175 million. Odomzo is a hedgehog pathway inhibitor indicated for the treatment of advanced basal cell carcinoma (BCC) that recurs following a surgery or a radiation therapy, or for patients who are not candidates for surgery or radiation therapy.
- Major players operating in the global basal cell carcinoma market include 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.
