Increasing Prevalence of Skin Malignancies and Rise in Initiatives by Market Players Drive the Growth of the Basal Cell Carcinoma Market

Basal cell carcinoma (BCC) is uninhibited and abnormal growth is seen in the basal cells of the lower epidermis. It does not extend to other body parts but in the rare situation it may metastasize and can be demonstrated as life-threatening; though, it may go deep in skin and bones. It is instigated due to the overexposure to ultraviolet rays and the lesions formed during the BCC looks like open sores, red patches, or sometimes look like bumps. There are many treatment options available for the treatment of basal cell carcinoma which contains surgery, drugs, and others

The major factors attributing to the growth of the market are the growing prevalence of skin malignancies, a rise in several environmental factors that lead to further UV exposure, and a growing geriatric population that is more vulnerable to skin diseases. As per the March 2022 article issued by WCRFI, there are two major forms of skin cancer, namely melanoma, and non-melanoma. Squamous cell carcinoma and basal cell carcinoma are the maximum typical non-melanoma cancers. The 17th most prevalent cancer worldwide is cutaneous melanoma. In relations of prevalence, it ranks 15th among malignancies in women and 13th among cancers in men. In 2020, there were over 150,000 new cases of cutaneous melanoma. Also, as per an article issued by the American Academy of Dermatology Association in April 2022, skin cancer is the most prevalent type of cancer between Americans. As per the current projections, one in five Americans may have skin cancer at some about point in their lives. In the United States, a projected 9,500 people receive a skin cancer diagnosis every day. Above three million Americans are supposed to be affected yearly by nonmelanoma skin cancer (NMSC), which comprises basal cell carcinoma (BCC) and squamous cell carcinoma (SCC). Thus, the growing prevalence of skin cancer is anticipated to boost market demand for treatments, in turn strengthening the market’s growth.

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The global demand for Basal cell carcinoma market was predicted to be about USD 6,800 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 12,500 million. The industry players and analysts predict the global Basal cell carcinoma market growth of around 8.0% in terms of CAGR. During the forthcoming years, higher prevalence of skin malignancies, product approval for the cure of basal cell carcinoma is also projected to boost the market. However, high prices for basal cell carcinoma treatment, interruption in accessing medical conditions, and after effects of the treatment and approval time for the drugs taking too long is hampering the growth of the market in the forecasted period.

Some of the leading and top basal cell carcinoma companies in the global basal cell carcinoma market include Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Bausch & Lomb Incorporated, Allergan, Perrigo Company plc, Taro Pharmaceutical Industries Ltd., Provectus Biopharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Sanofi, Mylan N.V. among others. The leading five players such as Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Allergan, and F. Hoffmann-La Roche Ltd hold around 40% market share of the global basal cell carcinoma market.

On the basis of treatment type, the global basal cell carcinoma market can be segmented into surgery, drugs, and others, with the ‘surgery’ category having the leading market share of about 50 percent, closely followed by the “drugs” category at about 30 percent of the global basal cell carcinoma market share.

On the basis of disease indication, the market can be segmented into locally advanced basal cell carcinoma and metastatic advance basal cell carcinoma.

On the basis of therapy, the market can be segmented into topical medication, oral medication, and injectable.

On the basis of distribution channel, the market can be segmented into hospitals, research institutes, cancer diagnostic centers, ambulatory surgical centers, and retail pharmacies. In terms of geography, North America region held the leading market share of around 30% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global Basal cell carcinoma market.

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