The global Merkel Cell Carcinoma Therapeutics Market is expected to grow substantially owing to the rising prevalence of Merkel cell carcinoma. The above information was shared by Fortune Business Insights in a report, titled “Merkel Cell Carcinoma Therapeutics Market Size, Share and Global Trend by Therapy (Chemotherapy, Immunotherapy, Combination Therapy, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography Forecast till 2026.” The risk of developing this type of skin disease increase s with frequent exposure to the sun. In addition to this, people who have a weak immune system and a history of other skin diseases are more vulnerable to Merkel cell carcinoma or MCC.
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KEY PLAYERS COVERED
- OncoSec Medical Incorporated
- Bristol-Myers Squibb Company
- Immune Design.
MCC, also referred to as Neuroendocrine Carcinoma is divided into five stages, ranging from Stage 0 to IV. Under this type of skin cancer, cells grow at a rapid speed, spreading cancer in other body parts. As per the report, metastasized cancer is difficult to treat and can take the life of a patient. However, some of the Merkel cell carcinoma therapies include immunotherapy, chemotherapy, radiation therapy, and surgical procedures. Of these, chemotherapy is expected to hold up all the aces as compared to other segments.
North America Leads Owing to Increasing Research Grants from Governments
Among regions, North America is anticipated to lead the global Merkel cell carcinoma market during the forecast period. Rising support from government regarding investments and growing demand for oncology drugs are expected to create growth opportunities for the market in North America. Furthermore, increasing spending on research and development (R&D) activities in North America enables growth in the market. Additional factors positively impacting the growth of the market are well-established healthcare infrastructure and rising per capita spending on healthcare.
Followed by North America, Europe is the second-most leading region. Abundant fund availability for research and rising patient population are factors driving the market in this region. In addition to this, rising support from the government and increasing strategic collaborations are expected to create attractive growth opportunities for the market in this region. However, Asia Pacific is the fastest growing market mainly on account of MCC’s rising prevalence.
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Demand for MCC Treatment Grows as the Majority of the Old Age Population Get Affected by MCC
MCC is more prevalent in the geriatric population. Therefore, the market is expected to grow at a considerable rate owing to the rapidly growing geriatric population across the world. As per the U.S. Population Fund, the total geriatric population was 12.3% of the global population in the year 2016. This is expected to reach 22.0% of the global population by the end of 2050. The increasing mortality rates caused by MCC is expected to boost the market in the forthcoming years.
As per a study by the American Cancer Society, one of the most common forms of cancer found in the U.S. is skin cancer. The study found that as MCC skin cancer is very rare in nature, the U.S registers around 2000 cases every year. Furthermore, it is estimated that 4 out of 5 patients will be above 70 years of age. Not only this, it was found that this type of skin cancer is more prevalent in males than females. Considering the above numbers, the MCC market is expected to rise at a healthy CAGR over the projected horizon.
Recent FDA Approvals to Boost the Market
The report profiles some of the leading players functioning in the global Merkel cell carcinoma market. These include Immune Design, Amgen Inc., Pfizer Inc., Merck & Co., BeiGene, Bristol-Myers Squibb Company, and OncoSec Medical Incorporated. Companies are concentrating on new product launches and other important strategies to maintain their foothold in the market. For instance, Nantkwest, Inc. launches Phase 2 of a clinical study on immunological therapy in January 2019. This therapy is called tripe combination and is meant to diagnose MCC skin cancer. Some companies announced their FDA approvals for the treatment of Merkel cell carcinoma. BAVENCIO, an intravenous injection received FDA approval in March 2017. Merck KGaA and Pfizer Inc. developed this product for the effective treatment of Merkel cell carcinoma. A drug called KEYTRUDA received FDA approval in December 2018. Merck & Co., Inc. manufactured this drug especially for adult and pediatric patients suffering from metastatic or advanced MCC.
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