The Global Merkel Cell Carcinoma Market is expected to grow at a CAGR of 7.40% during forecast period.

Merkel cell carcinoma is a rare and aggressive type of skin cancer with a high risk of recurrence and metastasis. Most recurrences occur within two years after the diagnosis of the primary tumor. The main cause of the disease is Merkel cell polyomavirus (MCV). Majority of the geriatric population is affected by the disease. Moreover, the risk of developing the disease increases with long exposure to the sun. Thus, factors like increasing prevalence of Merkel cell carcinoma and growing geriatric population are estimated to be the major drivers for the market growth during the forecast period. According to a study published in the Current Dermatology Reports journal in 2014, the annual incidence of MCC was 0.6 per 100,000 people. Moreover, according to the United Nations Population Fund, the total geriatric population is expected to increase from 12.3% of the global population in 2016 to 22.0% of the global population by 2050. Moreover, increasing expenditure in R&D by the key market players, rising mortality rate by MCC, and growing healthcare expenditure are some of the factors that boost the market growth during the forecast period. However, the high cost of therapeutics and related side effects, lack of awareness, and low per capita healthcare expenditures in the middle and low-income countries is estimated to restrain the market growth during the forecast period.

The Global Merkel Cell Carcinoma Market is segmented on the basis of diagnosis, treatment, and end users. On the basis of the diagnosis, the market is categorized into physical examination, sentinel node biopsy, imaging tests, and others. The imaging tests segment is sub-segmented into X-ray, computed tomography (CT), positron emission tomography (PET), and others. On the basis of the treatment, the market is segmented into surgery, radiation therapy, chemotherapy, and others. The chemotherapy segment is sub-segmented into etoposide, cisplatin, and others. On the basis of the end user, the market is segmented into hospitals & clinics, diagnostic centers, research organization, and others.

Key players in the global Merkel cell carcinoma market: Pfizer Inc. (U.S.), Merck & Co., Inc. (U.S.), OncoSec Medical Incorporated (U.S.), Bristol-Myers Squibb Company (U.S.), General Electric Company (U.S.), Siemens Medical Solutions USA, Inc. (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), Philips Health Care (The Netherlands), AstraZeneca (U.K), Mediso Ltd. Endomagnetics Limited (Hungary), and others are some of the major players in the Global Merkel Cell Carcinoma Market.

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Regional Analysis

The Americas dominate the Global Merkel Cell Carcinoma Market owing to the presence of developed economies like the U.S. and Canada, a well-developed healthcare sector and high per capita healthcare expenditures. Moreover, the presence of the major market players within the region boosts the market growth.

Europe is the second largest Merkel Cell Carcinoma Market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, and government support for research & development is estimated to drive the market growth within the region. Apart from this, increasing number of patients suffering from skin cancer provides favorable backgrounds for market growth within the region. According to the Cancer Research U.K, 15,906 new cases of melanoma cancer were diagnosed in 2015, within the region.

Asia Pacific is the fastest growing region for the market due to the presence of economies like India, Australia, and China along with the presence of developing healthcare sector in the market. Increasing prevalence of skin cancer, growing geriatric population, and rising healthcare expenditure boost the market growth within the region.

On the other hand, the Middle East & Africa has the least share in the Merkel cell carcinoma market due to the presence of poor economies and stringent government policies, especially in the African region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure by the developed economies like Qatar, Dubai and others.

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