March 1, 2024
Head and neck cancer drugs market

The Global Head and Neck Cancer Drugs Market is driven by increasing cancer prevalence

Head and neck cancer drugs market

Head and neck cancer refers to a group of cancers that originate in the oral cavity, nasal cavity, paranasal sinuses, pharynx, and larynx. These are among the most common types of cancers diagnosed globally. The key drugs used in treatment include checkpoint inhibitors, targeted therapies, radiation therapies, chemotherapies, and surgery. Checkpoint inhibitors work by blocking certain proteins made by some types of immune system cells, like PD-1 and PD-L1. This helps immune cells to attack the cancer cells more effectively. Targeted therapies work on specific vulnerabilities within cancer cells.

The global Head and Neck Cancer Drugs Market is estimated to be valued at US$ 1986.3 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the head and neck cancer drugs market size is the rise of combination therapies. Many recent clinical trials show benefits of using two or more treatment methods together rather than as single agents. For example, combining immunotherapy drugs like pembrolizumab with chemotherapy or targeted therapy is demonstrating improved overall survival rates compared to single therapies alone. Combination approaches allow targeting of cancer through different mechanisms to achieve better treatment outcomes. This trend of combination therapies is expected to continue and drive market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to availability of new technologies and increasing funding for research & development activities. However, prevailing regulatory policies and need for extensive R&D make new entries difficult.

Bargaining power of buyers: The bargaining power of buyers is moderate owing to presence of several established players offering similar products. However, increasing healthcare expenditure drives the market growth.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials. However, requirements for meeting high processing standards increases dependence on few suppliers.

Threat of new substitutes: The threat of new substitutes is low as products offered have applications in advanced treatments with no close substitutes available. However, continuous product innovation remains a threat.

Competitive rivalry: The competitive rivalry is high among existing players to gain maximum market share through emphasis on quality, price and innovations.

Key Takeaways
The global Head and Neck Cancer Drugs Market is expected to witness high growth.

Regional analysis: North America dominates the global market and is expected to grow at a steady rate during the forecast period. Increasing prevalence of head & neck cancer and availability of advanced treatments drive the North American market growth. Asia Pacific is projected to grow at the fastest pace attributed to growing healthcare industry, availability of low-cost drugs and increasing patient pool in the region.

Key players: Key players operating in the Head and Neck Cancer Drugs market are Johnson & Johnson Services, Inc. (DePuy Synthes), Double Medical Technology Inc., Orthofix Holdings, Inc., Ortho-SUV Ltd., Response Ortho LLC, Smith & Nephew, Stryker Corporation , Zimmer Biomet, Auxein Medical, Acumed, Tasarimmed T?bbi Mamuller San. Tic A.?, Orthopaedic Implant Company (€œOIC€), Gexfix SA, WishBone Medical, Inc., and Matrix Meditech.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it