The rivalry between Sun Pharmaceuticals Ltd., Valeant Pharmaceuticals
International Inc., Mylan N.V., F. Hoffmann-La Roche Ltd., and Merck
& Co. Inc. characterizes the competitive landscape present in the
global basal cell carcinoma treatment market, states a new research
study by Transparency Market Research (TMR). Currently, the leading
players are focusing on increasing the efficiency of their products
by inculcating the latest technologies, in order to gain a
competitive edge over the peers. Over the coming years, these
participants are expected to involve more in partnerships with
regional players in a bid to strengthen their regional presence,
notes the research study.
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According to the estimation of TMR, the global market for basal cell
carcinoma treatment was worth US$4.66 bn in 2016. The opportunity in
this market is projected to expand at a CAGR of 9.20% during the
period from 2017 to 2025 and reach US$10.14 bn by the end of the
period of the forecast. Among all the treatment types, the demand for
surgeries is higher, thanks to their efficiency. Analysts predict
this trend to remain so over the next few years, establishing the
dominance of the surgical basal cell carcinoma treatment segment.
Among end users, basal cell carcinoma treatments find most
significant usage in hospitals and specialty clinics. Geographically,
North America is projected to continue on the top in the near future,
thanks to the presence of an advanced medical and healthcare
infrastructure and the rising expenditure on healthcare in this
region, states the market report.
“The market for basal cell carcinoma treatment is benefiting
significantly from the increasing prevalence of basal cell carcinoma,
rising consciousness among consumers about the disease, and the
presence of favorable reimbursement scenario in high prevalence
regions,” says a TMR analyst. The rising prevalence of various
cutaneous malignancies, specifically non-melanoma skin cancer, such
as basal cell carcinoma and squamous cell carcinoma, is influencing
the demand for basal cell carcinoma treatment tremendously across the
world.
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The increase in geriatric population, who are highly susceptible to
several types of skin diseases, such as actinic keratosis and various
other non-melanoma skin malignancies, is also boosting the growth of
the global basal cell carcinoma treatment market, reports the
research study.
On the other hand, the high propensity of basal cell carcinoma
remaining underdiagnosed may obstruct the growth trajectory of the
worldwide market for basal cell carcinoma treatment over the next few
years. The high treatment cost and the lack of awareness in emerging
economies can also restrain the market’s growth in the years to
come. However, the rising demand for better disease treatments in
emerging economies, as a result of escalating disposable income, is
expected to provide lucrative growth opportunities for market players
in the near future, states the report.
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