Head & Neck Cancer Drugs Market Size Estimated to Reach $2.4 Billion by 2026
Rise in the Demand for Immunotherapy Drugs, and Growing Research and Development Activities to Develop Ideal Therapeutic Drugs Are the Factors Driving the Growth of the Head & Neck Cancer Drugs Market.
Hyderabad, India – July 2, 2021 /MarketersMedia/ —
Head & Neck Cancer Drugs Market size is estimated to reach $2.4 billion by 2026, growing at a CAGR of 7.3% during the forecast period 2021-2026. Malignant tumors that are formed in or around the throat, nose, tongue, salivary glands, mouth, and others relate to head and neck cancers. Targeted immune therapies are being emerged as a standard treatment choice for advanced head and neck cancers across the world and chemotherapeutic drugs are mostly being used in the combination with radiation therapy.
Head & Neck Cancer Drugs Market Segment Analysis-By Treatment
The Head & Neck Cancer Drugs Market based on the Treatment can be further segmented into Chemotherapy, Immunotherapy, and Targeted Therapy. The Chemotherapy segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 8.9% over the period 2021-2026. This growth is owing to the factors such as increase in the research and development activities by the key players to develop advanced chemotherapy drugs and the growing demand for cost-effective chemotherapy drugs.
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Head & Neck Cancer Drugs Market Segment Analysis – By Distribution Channel
The Head & Neck Cancer Drugs Market based on the Distribution Channel can be further segmented into Hospitals, Drug Stores and Retail Pharmacies, Online Stores, and Others. The Drug Stores and Retail Pharmacies segment held the largest share in 2020 owing to the factors such as increasing demand for prescription drugs and growing expansion of companies to meet the rising demand for various chemotherapy drugs. The Online Stores segment is estimated to be the fastest growing segment with a CAGR of 9.1% over the period 2021-2026.
Head & Neck Cancer Drugs Market Segment Analysis – By Geography
North America held the largest share with 33% of the overall market in 2020. The growth in this segment is owing to the factors such as growing research and development activities to develop ideal therapeutic drugs and rise in the demand for targeted immune therapies as a standard treatment choice for advanced head and neck cancers. The rise in the adoption of bleomycin, cetuximab, paclitaxel, and capecitabine drugs is driving the growth of the Head & Neck Cancer Drugs Market.
Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as growing demand for drugs, such as hydroxyurea, docetaxel, 5-fluorouracil, and methotrexate, and increasing awareness about the importance of early screening of the disease.
Head & Neck Cancer Drugs Market Drivers
Increase in the Demand for Chemotherapy Drugs
Chemotherapy drugs, such as hydroxyurea, docetaxel, 5-fluorouracil, and methotrexate are increasingly being used across the world for the treatment of head and neck cancer owing to their ability to reduce the frequency of painful episodes. The key players are also focusing on developing advanced chemotherapy drugs owing to the rise in the prevalence of head and neck cancer, which is further propelling the growth of the Head & Neck Cancer Drugs Market.
Rise in the Adoption of Immunotherapy Drugs in Developed Nations
Immunotherapy drugs are increasingly being adopted as a standard treatment option for advanced-stage head and neck cancers in developed nations owing to their ability to boost the natural defense system to combat cancer and their efficiency in preventing cancer from spreading to other parts of the body. With the increase in the approvals of immunotherapy drugs by the Food and Drug Administration (FDA), there is also a rise in the adoption of these drugs, which is one of the major factors driving the growth of the Head & Neck Cancer Drugs Market.
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Head & Neck Cancer Drugs Market Challenges
Side Effects Associated with the Head and Neck Cancer Drugs
The growing advances in cancer research across the world have permitted successful therapeutic targeting of the immune system of the patients. However, the side effects associated with head and neck cancer drugs, such as anemia, vomiting, joint pain, and osteoporosis is one of the major factors that is estimated to reduce the growth of the Head & Neck Cancer Drugs Market.
Head & Neck Cancer Drugs Market Competitive Landscape:
Key companies of Head & Neck Cancer Drugs market are F. Hoffmann-La Roche Ltd, Merck KGaA, Nektar Therapeutics, Immutep Limited, Bristol-Myers Squibb Company, Eli Lilly and Company, Novartis AG, Pfizer Inc, Fortress Biotech Inc, and AstraZeneca Plc among others.
Partnerships/Product Launches:
In March 2021, Merck KGaA has entered into a partnership with Debiopharm for the development and commercialization of xevinapant, which is an inhibitor that helps in the advanced squamous cell carcinoma of the head and neck and to explore new treatment options in areas of high unmet needs.
In March 2021, Immutep Limited has entered into a partnership with subsidiaries of Merck & Co Inc to develop an innovative drug for treating patients with head and neck squamous cell carcinoma (HNSCC) and to evaluate the efficacy of its lead product candidate, eftilagimod.
In February 2021, Nektar Therapeutics has entered into a partnership with SFJ Pharmaceuticals for supporting the development of Bempegaldesleukin drug for treating patients with head and neck cancer whose tumors express PD-L1.
Key Takeaways
Geographically, North America Head & Neck Cancer Drugs Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing adoption of bleomycin, cetuximab, paclitaxel, and capecitabine drugs.
The rise in the availability of various chemotherapy drugs, such as bleomycin, cetuximab, paclitaxel, capecitabine, hydroxyurea, and methotrexate in drug stores is driving the Drug Stores and Retail Pharmacies segment.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Head & Neck Cancer Drugs Market report.
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