Cancer forms have grown at an accelerated rate in the past few years due to better detection techniques. Market intensive reports associated with the healthcare industry among others recently have been made accessible by Market Research Future which issues reports on this industry.
Asia Pacific skin cancer market is expected to reach USD 602.4 Million to grow at a CAGR of 7.80% during the forecasted period 2022-2030.
The lack of skilled doctors and healthcare professionals in detecting cases is another cause that is increasing the number of skin cancer cases. Genetic defects have been commonly cited as one of the factors leading to the development of the market. Lifestyle factors such as excessive intake of alcohol, cigarettes, and drugs have increased the prevalence of the skin cancer. The investments made by the market players in terms of research and the development will lead to the discovery of new treatment and medicines towards the treatment of the condition.
Industry Segments
The market for skin cancer in the Asia Pacific region is segmented into treatment, type, and end users segments. The type basis of segmentation of the skin cancer market comprises of squamous-cell carcinoma, basal cell carcinoma, and melanoma. On the basis of the treatment, the Asia Pacific skin cancer market is segmented into chemotherapy, non-invasive, surgical, and others. Additionally, the non-invasive treatments are segmented into cryotherapy, radiotherapy, laser therapy, photodynamic therapy, and others. The chemotherapy segment is further divided into systemic and targeted. The surgical treatment segment is segmented into Mohs micrographic surgery, cryosurgery, photodynamic therapy, and others. The market for skin cancer in the APAC region on the basis of end users is segmented into diagnostic centers, cancer research institute, hospital and clinics, and other.
Detailed Regional Analysis
The nations in the APAC region that are being observed in the report are segmented into China, Australia, Japan, India, the Republic of Korea, and the Rest of Asia Pacific. As the Asia Pacific market which is among the rapidly growing skin cancer market. Nations such as Australia, Japan, and China are among the main contributors to the market development. The main reason for the growth of the market is the occurrence of skin cancer per 100,000 population is 20-25 cases in Japan and about 11-12 cases in China. About 80 percent of the cases are basal cell carcinoma (BCC), 4% are melanomas, and about 16% are squamous cell carcinoma. The constantly growing occurrence of skin cancer in Japan is motivating the growth of this region. Additionally, growing government support for research and continuous growth in technology is playing a significant part in the development of the Asia Pacific market.
Global Competitive Analysis
Aspects of the market related to pricing power and profit margins are expected to contribute in a major way to the revenue attractiveness of the market. The capacity to withstand their competitive edge is one of the key factors fuelling their efforts in this period. Localization is among of the more preferred trends for growing the market portion of the competitors in the market by providing products and services that satisfy their demands. Costs involved in targeting potential customers are expected to be reasonable to be conducive to the expansion of the market. The scope of development in the market seems to be promising through the forecast period. The odds for growing revenue inflow in the business are likely to multiply through the forecast period. Portfolio expansion is being considerably recommended by market contenders to attain high growth rates. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The key trends and players have established a positive tone for development.
Sun Pharma Industries Ltd. (India), Novartis International AG (Switzerland), Varian Medical Systems Inc. (US), Elekta AB (Sweden), Aqua Pharmaceuticals LLC (US), F. Hoffmann-la Roche Ltd. (Switzerland), Cannabis Science Inc. (US), Cellceutix Corp. (US), LEO Pharma A/S (Denmark), Mylan Pharmaceutical Inc. (US), Bristol Myers Squibb Co. (US), Oncothyreon Inc. (US), Boehringer Ingelheim GmbH (Germany), Moberg Pharma AB (Sweden), Valeant Pharmaceuticals Inc (Canada), Meda AB (US), iCAD Inc. (Sweden), and Merck & Co. Inc. (US).
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