Head and Neck Cancer Market is Presumed to Witness Sustainable CAGR of 9.5% During Forecast 2017-2023
Head and neck cancers are site-specific, which includes oral cavity, pharynx, larynx, paranasal sinuses and nasal cavity, and salivary glands. The consumption of alcohol and tobacco are the two most common risk factors for head and neck cancers.
A number of factors such as the increasing prevalence of head and neck cancers, growing geriatric population, huge research funding in oncology, unmet medical needs, rising competition among market players, improving regulatory framework, aging population, and increasing government assistance, are a few factors propelling the growth of the global ophthalmic drugs market. According to the 2014 statistics suggested by the World Health Organization (WHO), the annual incidence rate of head and neck cancer is more than 550,000 cases with nearly 300,000 deaths each year, worldwide.
However, the high cost associated with treatment approach, side effects of available treatment options, lack of healthcare coverage, and poor healthcare system in low- and middle-income countries may hamper the growth of the market.
It is estimated that the head and neck cancer market is expected to grow at a CAGR 9.5% during the forecast period of 2017–2023.
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Some of the key players in the global head and neck cancer market are
- AB Science SA
- AbbVie Inc.
- Acceleron Pharma, Inc.
- AdDent Inc.
- ASAHI Roentgen
- Astellas Pharma Inc.
- AstraZeneca Plc.
- Bayer AG, Boston Biomedical, Inc.
- Bristol-Myers Squibb Company
- The global head and neck cancer market is segmented on the basis of type of head and neck cancer, diagnosis, treatment type, and end-user.
- On the basis of type of head and neck cancer, the market is classified as laryngeal cancer, pharyngeal cancer, salivary gland cancer, lip and oral cavity cancer, nasopharyngeal cancer, and others.
- On the basis of diagnosis, the market is classified as bioscopy screening tests, blood tests, dental diagnosis, imaging, and endoscopy.
- On the basis of treatment type, the market is classified as chemotherapy, surgery, radiation therapy, targeted therapy, and others. The radiation therapy is further classified as external beam radiation and internal radiation therapy.
- On the basis of the end-user, the market is classified as hospitals, specialty clinics, and ambulatory surgical centers.
The Americas dominates the head and neck cancer market owing to the presence of patient population, rising prevalence of head and neck cancer, well-developed technology, high healthcare expenditure, and the presence of the leading market players. The head and neck cancer account for nearly 3% of all the cancers in the United States. In 2017, around 63,030 people developed head and neck cancer.
Europe holds the second position in the head and neck cancer market. It is expected that the research and development expenditure provided by the government and private associations, increasing competition among marketers, rising healthcare expenditure, and amendments in reimbursement policies in healthcare are likely to drive the European head and neck cancer market.
Asia Pacific is the fastest growing head and neck cancer market owing to a huge patient pool, increasing demand, and development of the healthcare technology.
The Middle East and Africa holds the lowest share of the global head and neck cancer market due to low development, lack of technical knowledge, and poor medical facilities.
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