Skin Cancer Diagnostics & Therapeutics Market by Disease Type (Melanoma, Non-melanoma), Type (Diagnosis, Therapeutics) - Global Forecast 2024-2030

Skin Cancer Diagnostics & Therapeutics Market by Disease Type (Melanoma, Non-melanoma), Type (Diagnosis, Therapeutics) - Global Forecast 2024-2030

The Skin Cancer Diagnostics & Therapeutics Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 8.31 billion in 2024, at a CAGR 10.43% to reach USD 15.11 billion by 2030.

Skin cancer diagnostics involve a range of procedures and technologies designed to detect skin cancer at its earliest stages. The diagnostic process typically starts with a physical examination of the skin to identify suspicious lesions or moles. Once skin cancer is diagnosed, the therapeutic stage involves the treatment of the disease. Treatments can vary, as it depends on the type and stage of the cancer, and may include surgical procedures, including excision, Mohs surgery, and cryosurgery. Non-surgical options such as radiation therapy, chemotherapy, immunotherapy, and photodynamic therapy are also available and may be used either alone or in combination with surgical treatments. The rising incidence of skin cancer globally, increased healthcare investment and infrastructure, and growing awareness programs by governments and non-profit organizations have accentuated the need for skin cancer diagnostics and therapeutics. The introduction of personalized medicine and genomics into treatment protocols is also a potent driver. However, the high costs associated with advanced diagnostics and therapy, potential side effects and complications related to treatment, and disparities in access to healthcare services can impede the growth. Additionally, the procedural and technical difficulties associated with the diagnosis and therapy for skin cancer, coupled with a lack of skilled personnel, pose significant challenges. However, key players are exploring new areas of innovation, including the refinement of precision medicine techniques, the development of less toxic and more effective drug formulations, and exploring the potential of emerging fields such as immunotherapy and biologics to improve the efficiency and ease of skin care diagnostics and therapeutics.

Regional Insights

The Americas region, particularly the U.S. and Canada, harbors a sophisticated healthcare system with substantial investments in skin cancer research and diagnostics. Patient behavior is driven by high awareness levels and access to advanced therapies. Public and private entities show commitment through funding and initiatives to reduce the incidence and death rates associated with skin cancer. There is a high number of patents in the field, showcasing significant innovation in diagnostic tools such as mole mapping technologies, AI-driven image analysis, and therapeutic approaches, including targeted therapies and immunotherapies. The European Union shows substantial heterogeneity in the prevalence of skin cancer and healthcare access across member states. Investments in skin cancer research and healthcare infrastructures vary, but there is a concerted effort, showcased through initiatives such as the EU's Horizon 2020 program, to harmonize and advance the fight against skin cancer. In the APAC region, rising government support for improving the healthcare infrastructure and increasing insurance penetration is translating into a greater need for skin cancer care. Countries with advanced healthcare systems, such as Japan and Australia, lead in patient expenditure and adoption of innovative therapies.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Skin Cancer Diagnostics & Therapeutics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing Incidences and Rising Awareness of Skin Cancer Globally
    • Rising Government Initiatives for Early Detection and Skin Cancer Treatment
    • Proliferation in Research and Development Pipelines for Skin Cancer Diagnostics and Therapeutics
    • Market Restraints
      • High Cost Associated With the Various Skin Cancer Treatment
      • Market Opportunities
        • Advancements in Skin Cancer Diagnostics & Therapeutics
        • Developments of Skin Cancer Care in Emerging Nations
        • Market Challenges
          • Side Effects of Radiation Therapy for Skin Cancer
          • Market Segmentation Analysis
            • Disease Type: Growing need to ensure quick and early diagnosis and treatment of melanomas
            • Type: Advancements to improve therapeutics for skin cancer to cater to the rising incidences of skin cancer patients
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Skin Cancer Diagnostics & Therapeutics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Skin Cancer Diagnostics & Therapeutics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • FDA Approves First AI-Powered Skin Cancer Diagnostic Tool
              
              The U.S. Food and Drug Administration has authorized the DermaSensor, an innovative artificial intelligence-driven device designed for the non-invasive diagnosis of skin cancer, encompassing melanoma, basal cell carcinoma, and squamous cell carcinoma. DermaSensor is a portable device employing spectroscopy to scrutinize skin lesions at both cellular and subcellular scales. It then applies a sophisticated, FDA-sanctioned algorithm to interpret the data. This tool was rigorously evaluated in the pivotal DERM-SUCCESS trial, which was spearheaded by researchers at the Mayo Clinic and involved over a thousand participants across twenty-two dedicated centers.
              
              Sun Pharma, Philogen Collaborate to Commercialise Skin Cancer Drug in Europe
              
              Sun Pharmaceutical Industries Ltd. announced a partnership with Philogen SpA, aimed at bringing the innovative oncological drug Nidlegy to market. This drug, which is undergoing Phase III clinical trials, represents a new biopharmaceutical approach to battling cancer. The licensing agreement covers the commercialization rights in key regions, notably Europe, Australia, and New Zealand.
              
              Incyte Announces FDA Approval Of Zynyz (Retifanlimab-Dlwr) For Treatment Of Metastatic/Recurrent Locally Advanced Merkel Cell Carcinoma (MCC)
              
              Incyte Corporation announced that Zynyz (retifanlimab-dlwr), a novel humanized monoclonal antibody designed to inhibit the programmed death receptor-1 (PD-1), has received approval from the U.S. Food and Drug Administration (FDA) for use in adult patients battling metastatic or locally advanced recurrent Merkel Cell Carcinoma (MCC). This form of skin cancer, known for its rarity and aggressive behavior, typically manifests as a solitary, smooth, and often violet-hued skin growth, most common on areas of sun-exposed skin such as the head, neck, and extremities.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Skin Cancer Diagnostics & Therapeutics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Skin Cancer Diagnostics & Therapeutics Market, highlighting leading vendors and their innovative profiles. These include AB Science, Abbott Laboratories, Agilent Technologies, Inc., Almirall, S.A., Amgen, Inc., AMLo Biosciences Ltd., AstraZeneca PLC, bioMérieux SA, Bristol-Myers Squibb Company, Castle Biosciences, Inc., Daiichi Sankyo Company, Limited, DAMAE Medical, DermTech, Inc. by Bausch Health Companies Inc., Elekta AB, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Merck & Co., Inc., NeraCare GmbH, Novartis AG, Pfizer Inc., QIAGEN N.V., Sanofi S.A., Sirnaomics, Inc., SkylineDx BV, Sun Pharmaceutical Industries Ltd., and Veriskin Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Skin Cancer Diagnostics & Therapeutics Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Disease Type
              • Melanoma
              • Non-melanoma
              • Type
                • Diagnosis
                  • Blood Tests
                  • Dermatoscopy
                  • Imaging Tests
                  • Lymph Node Biopsy
                  • Skin Biopsy
                  • Therapeutics
                    • Chemotherapy
                    • Non-invasive Therapy
                    • Surgery
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year