The global laryngeal cancer therapeutics market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio.
The increasing use of tobacco products is the major factor for the rising incidence of laryngeal cancer. The highest incidence of laryngeal cancer is found among African-Americans, followed by Caucasians, in the country. The strong mortality rate and the prevalence of the indication are leading to an increase in the use of therapeutics such as chemotherapy and targeted therapy for the treatment. Also, factors such as the increasing incidence of HPV-caused cancers are driving the growth of the market because of the metastatic nature of the virus. Hence, the global laryngeal cancer therapeutics market is expected to benefit from the increasing prevalence of the indication during the forecast period.
As per Technavio, the advent of novel therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global laryngeal cancer therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global laryngeal cancer therapeutics market: Advent of novel therapies
For a long time, the global laryngeal cancer therapeutics market had chemotherapy as the only treatment option. However, the increasing prevalence of the disease and the high mortality rate have resulted in the need for more advanced therapies for the treatment of the disease. As a result, the market has witnessed an increase in the research of novel therapeutics such as targeted therapies, biologics, and regenerative therapies for laryngeal cancer. For instance, gene therapy is a type of novel therapy that is being studied intensively in the early stages of the clinical trials. It involves editing/modifying a gene in the laboratory and inserting it in the patient. The modified gene helps in silencing the faulty gene or modifying the mutated gene in the body, resulting in reversing the damage caused by the indication. Advancements in the research of these novel therapies are expected to add significant value to the growth of the global laryngeal cancer therapeutics market in the coming years.
Apart from the advent of novel therapies, the increasing number of reimbursement programs, the growing number of strategic alliances, and the increasing research grants are some major aspects that are expected to boost the growth of the global market during the forecast period, says an analyst at Technavio.
Global laryngeal cancer therapeutics market: Segmentation analysis
This market research report segments the global laryngeal cancer therapeutics market by type (biologics and small molecules) and geographical regions (North America, Europe, Asia, ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. During the forecast period, the North American region is expected to continue dominating the global market as well as register the highest incremental growth due to the increasing preference for the treatment using therapeutics for various head and neck cancer, including laryngeal cancer.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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