Metastatic Melanoma Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Metastatic Melanoma Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The metastatic melanoma drugs market is expected to register a CAGR of 9.7% over the forecast period, 2022-2027.

COVID-19 pandemic has had a substantial impact on the metastatic melanoma drugs market initially. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in the treatment of cancer patients in hospitals and clinics, which includes metastatic melanoma patients as well. However, the sales of home-use metastatic melanoma drugs observed a significant increase during the pandemic. For instance, a cohort study was conducted for evaluating the impact of the covid-19 pandemic on melanoma and non-melanoma skin cancer inpatient treatment in Germany. It was published in May 2022 in the Journal of the European Academy of Dermatology and Venereology (JEADV) and the results of the study showed that since the beginning of the pandemic there has been a significant drop in the number of hospital admissions and surgical procedures for skin cancer patients. Furthermore, according to the article titled “Melanoma Management during the COVID-19 Pandemic Emergency: A Literature Review and Single-Center Experience“ published in the journal of National Center for Biotechnology Information (NCBI) in December 2021, a case study was performed where they compared the early diagnosis rate of melanoma in 2020 to that of 2018 and 2019 and a decrease in the early diagnoses of melanoma was observed during the pandemic; however, surgical interventions and systemic treatments for advanced cases were guaranteed. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction as the pandemic subsides eventually.

Further, the increasing incidence of metastatic melanoma, technological advancements for the treatment of metastatic melanoma and rising development of new biologics are among the major factors driving the growth of the studied market. Currently, factors such as rising exposure to ultraviolet rays, rising depletion of the ozone layer and increasing working hours in airplanes are also responsible for the increasing incidence of metastatic melanoma cases. Such factors are likely to boost the usage of metastatic melanoma drugs, thereby contributing to the studied market growth.

Moreover, according to an article titled “Epidemiology of Melanoma” published in the journal of National Centre for Biotechnology Information (NCBI) in October 2021 worldwide incidence of melanoma has risen over the past few decades. The Annual incidence of melanoma is rising at a rapid rate of 4-6% in white-skinned populations in regions like North America, Europe, Australia, and New Zealand. Furthermore, according to the American Cancer Society, Inc. by the end of the year 2022 there will be 99,780 new cases of melanoma, and 7,650 people are expected to die due to melanoma in the United States. Therefore, the use of drugs that will be used to treat the patients affected with metastatic melanoma is poised to accelerate the metastatic melanoma drugs market globally and is expected to increase in the future, thereby driving the growth of the studied market over the forecast period.

In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For instance, in June 2022 Immunocore collaborated with Sanofi to evaluate Sanofi’s product candidate SAR444245, non-alpha IL-2, in combination with Kimmtrak in patients with metastatic cutaneous melanoma. Additionally, in April 2022 Pfizer Inc. offered an independent medical education grant for the best practices in the clinical management of patients with BRAF-mutant metastatic melanoma. Thus, owing to the launches and partnerships the studied market is further expected to have significant growth over the forecast period.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the high risk of side effects associated with the treatment procedure and high cost of treatment are likely to impede market growth.

Key Market TrendsImmunotherapy Drugs Segment is Expected to Witness Growth Over the Forecast Period

Immunotherapy drugs are promising new drugs which use proteins on immune cells as checkpoints to start or boost the immune response of the patient. They also prevent the patient’s own immune system to attack normal or healthy cells. Moreover, according to Memorial Sloan Kettering Cancer Center, immunotherapy drugs have proven to be very effective against metastatic melanoma which cannot be removed completely by surgery as immunotherapy drugs empower the immune system to recognize and fight cancer, unlike other therapies which directly attack cancer cells causing severe side effects. Unlike chemotherapy, which acts directly on cancerous tumors, immunotherapy treats patients by acting on their immune system. Immunotherapy can boost the immune response in the body as well as teach the immune system how to identify and destroy cancer cells, thus having less side effects than chemotherapy. Hence, owing to the advantages offered by immunotherapy drugs, the adoption of these products is likely to increase among the target population, ultimately driving the market growth.

In addition, according to the report titled ‘Immunotherapy in the Treatment of Metastatic Melanoma: Current Knowledge and Future Directions’ by the journal of NCBI published in 2020, stated that the introduction of immunotherapy drugs has completely changed the approach for the treatment of metastatic melanoma. Additionally, it was also mentioned that studies have proven the increase of PD-1 in melanoma, which means a strong downregulation of activated T cells that helps the maintenance of tumor cells so in the future immunotherapy with anti-PD1 antibodies-based drugs will also prove to be effective. Thus, the increasing adoption of immunotherapy drugs creates demand for technically advanced immunotherapy-based drugs and is creating opportunities for the growth of the segment in the future.

Furthermore, continuous Food and Drug Administration (FDA) approvals of products by major players in the market are positively affecting the growth of the segment. For instance, in December 2021 Merck & Co., Inc., announced that the FDA has approved Keytruda, Merck’s anti-PD-1 therapy, (FDA) to treat adults and children ages 12 and older with stage IIB or IIC melanoma after they’ve undergone surgery to remove their tumors. Further, in May 2021 Bristol-Myers Squibb Company announced new six-and-a-half-year data from CheckMate-067, a randomized, double-blind, Phase 3 clinical trial, demonstrating durable improvement in survival with first-line Opdivo (nivolumab) plus Yervoy (ipilimumab) therapy and Opdivo monotherapy, versus Yervoy alone, in patients with advanced melanoma.

Therefore, the immunotherapy drugs segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

North America Dominates the Metastatic Melanoma Drugs Market

North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced drugs, high prevalence of metastatic melanoma, and high awareness among patients about metastatic melanoma in the region. For instance, according to the American Cancer Society, Inc. melanoma is more than 20 times more common in white Americans than in African Americans. Overall, the lifetime risk of getting melanoma is about 2.6 percent. An increase in the usage of drug-based therapies for rapid and effective results in the United States is among the key factors which contribute to the growth of the studied market in North America.

Key research and development activities, high concentration of market players, or manufacturer's presence in the United States are some of the factors driving the growth of the metastatic melanoma drugs market in the country. For instance, In March 2021 Bristol-Myers Squibb Company, a United States-based company announced the primary results from the Phase 2/3 RELATIVITY-047 (CA224-047) trial evaluating the fixed-dose combination of relatlimab, an anti-LAG-3 antibody, and Opdivo (nivolumab) versus Opdivo alone in patients with previously untreated metastatic or unresectable melanoma. Moreover, in October 2021 Merck & Co., Inc., a United States based company announced new data from studies evaluating KEYTRUDA, Merck’s anti-PD-1 therapy, at the Society for Melanoma Research (SMR) 2021 Congress. This study was based on patients with metastatic melanoma.

Therefore, owing to the aforesaid factors the studied market is anticipated to show promising growth in the North America Region.

Competitive Landscape

The metastatic melanoma drugs market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. include Bristol-Myers Squibb Company, Novartis AG, Merck & Co., Inc., F. Hoffmann-La Roche Ltd, Amgen, Inc., AstraZeneca, Pfizer Inc., Sanofi, Accord Healthcare, and Amneal Pharmaceuticals LLC., among others.

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