Throat cancer refers to tumour of the Adam ’s apple, the vocal cords, and different parts of the throat, for example, the tonsils and the oropharynx. The throat cancer is characterized into two types’ viz. pharyngeal cancer and laryngeal cancer. The throat cancer market is growing at a fast pace and is expected to growth in the near future. The major factors that driving the growth of this market are adoption of unhealthy lifestyle, high number of tobacco consumers, and increasing smoking population, and increasing old age population among others. According to National Cancer Institute (NIH), about 1.1% of adult population is estimated to have diagnosed with pharyngeal cancer followed by 0.4% with laryngeal cancers at some point during their lifetime. According to American Cancer Society (ACS), nearly 13,430 new cases of laryngeal cancer were diagnosed in U.S. in 2016. Among them about 79% were men and 21% were women in 2016. The rising prevalence of the deadly disease is creating a huge demand for the effective treatment option, which in turn, is boosting the growth of the global throat cancer market.
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The global market consist of players such as Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, Eli Lilly And Company, Engeneic Ltd, F. Hoffmann-la Roche AG, Merck & Co., Inc., Novartis, Pfizer Inc., and Teva Pharmaceutical Industries Ltd among others are some of the prominent players at the forefront of competition in the global throat cancer market and are profiled in MRFR Analysis.
Global Throat Cancer Market – Competitive Landscape
The market for throat cancer is growing with number of companies operating in this market which are developing products including the drugs, molecules. Throat cancer market is growing with rising demand for the novel treatment options. Lack of availability of substantial treatment option has created a wide range of opportunities for the drug manufacturers. Companies are focused on the developing new drugs which are cost effective along with showing minimum side effects. Companies are involved in the development of specific types of molecules, and novel therapies.
In September 2017, Merck & Co. launched an anticancer drug “Keytruda” in Indian market.
In August 2016, two U.S. based pharmaceutical company Merck and Bristol Myer Squibb’s sold block buster cancer drugs Keytruda and Opdivo respectively. Keytruda and Opdivo have generated global sales of USD 566 million and USD 942 million respectively.
In August 2016, Merck’s Pembrolizumab drug for the treatment of Head and Neck Cancer received approval from US FDA.
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Global Throat Cancer Market – Regional Analysis
The global market of throat cancer is fairly captured by the Americas region with U.S. being the largest market share holder. According to the recent estimates by American Cancer Society, nearly 13,150 new cases of laryngeal cancer will occur and about 2,710 people will die because of laryngeal cancer in 2018, only in U.S. Advanced medical care facilities, growing demand for advanced cancer care, presence of big pharmaceutical companies in the region, continuous rising old age population are some of the factors that are pushing the growth of the throat cancer market in American region.
European market is second largest market after Americas. The high growth of the prevalence of throat cancer market in European countries is due to high number of people engaged in smoking and alcoholism. Only in U.K around 2000 cases of larynx cancer are found each year. It is observed that, throat cancer is four times more common in men than in women. The risk of developing throat cancer gets high with increasing age as it is rare in people age 40 and below and people aged over 60 are more at risk of developing a throat cancer.
Asia Pacific region is expected to grow rapidly with developing countries such as China and India leading the market owing to the rapidly developing healthcare sector and increased investment by international companies in Asian region.
The Middle East & Africa market especially, the African region is expected to witness a poor growth owing to the lack of advanced infrastructure, lack of awareness about the disease, and less development in medical facilities. Middle East & Africa contributes least in the global market at present and is expected to have a limited growth in the market.
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