Melanoma drug market to see CAGR of 16.8% to reach $1.42 billion by 2017; pneumo- and meningococcal vaccines forecast

31 January 2011

The worldwide market for melanoma therapeutics was valued at $351 million in 2009 and is forecast to grow at a compound annual growth rate (CAGR) of 16.8% for the next eight years to reach $1.42 billion by 2017, according to a new report from GlobalData. The growth will primarily be driven by an increase in the disease incidence rate, an increase in awareness of the treatment options, an increase in the treatment seeking population and an influx of novel and efficient drugs.

US drug giant Merck & Co (NYSE: MRK) Germany’s Bayer (BAY: DE) and USA-based Chiron Pharmaceutical (Nasdaq: CHIR) remain the leading competitors in the global melanoma therapeutics market. The competitive landscape is sparsely populated with only three products, none of which are significantly strong and dominating. The market is characterized by high off-label drug usage.

Strong pipeline expected to bring novel and efficacious products to the market

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