Global Merkel Cell Carcinoma Market Research Report: By Diagnosis (Physical Examination, Sentinel Node Biopsy, Imaging Test), Treatment (Surgery, Radiation Therapy, Chemotherapy), End User (Hospitals & Clinics, Diagnostic Centers) – Forecast till 2027
Market Research Future (MRFR)’s latest study reveals that the global merkel cell carcinoma market is projected to strike a CAGR of 7.40% during the forecast period. The growing geriatric population is likely to dictate the growth of the market as this disease majorly affects the elderly population.
Merkel cell carcinoma poses a high risk of recurrence and metastasis, which has intensified the need for advanced treatments. It can also be caused by prolonged exposure to the sun. The rising burden of the disease is expected to propel the expansion of the merkel cell carcinoma market over the assessment period.
Key players are emphasizing on the development of highly precise and effective drugs. It is anticipated to have a favorable impact on the growth of the market. Nevertheless, the high cost of therapeutics, side effects of treatment, low healthcare expenditure in developing and underdeveloped nations, and lack of awareness are presumed to hinder the proliferation of the merkel cell carcinoma market in the foreseeable future.
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By diagnosis, the merkel cell carcinoma market has been segmented into physical examination, sentinel node biopsy, imaging tests, and others. The imaging tests segment is further sub-segmented into computed tomography (CT), X-ray, positron emission tomography (PET), and others.
By treatment, the global merkel cell carcinoma market has been segmented into surgery, chemotherapy, radiation therapy, and others. The chemotherapy segment is sub-segmented into cisplatin, etoposide, and others.
By end user, the merkel cell carcinoma market has been segmented into hospitals & clinics, research organization, diagnostic centers, and others.
The global merkel cell carcinoma market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is poised to account for the maximum share of the market through the forecast period. The presence of advanced healthcare infrastructure in the developed economies of the region such as the U.S. and Canada are likely to boost the future trajectory of the market.
Europe is placed in the second spot in the global market in terms of size. It is anticipated to maintain its prominence over the next couple of years owing to the availability of funds for research & development, increasing number of patients suffering from skin cancer, extension of government support, etc.
Asia Pacific is the third-largest regional market and is forecasted to emerge as the fastest growing region over the assessment period. The factors that are poised to propel the expansion of the merkel cell carcinoma market include the rising burden of skin cancer, increasing healthcare expenditure, growing geriatric population, etc. Country-level markets such as India, Australia, and China are anticipated to contribute substantially towards the development of the market in the region.
The Middle East & Africa is projected to hold the least share in the global merkel cell carcinoma market. The presence of poor economies and stringent government policies, especially in the African region, are expected to check the expansion of the regional market in the forthcoming years.
Some of the prominent players operating in the merkel cell carcinoma market are Pfizer Inc. (U.S.), OncoSec Medical Incorporated (U.S.), Merck & Co., Inc. (U.S.), AstraZeneca (U.K), Bristol-Myers Squibb Company (U.S.), Siemens Medical Solutions USA, Inc. (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), General Electric Company (U.S.), Philips Health Care (The Netherlands), and Mediso Ltd. Endomagnetics Limited (Hungary).
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In January 2019, the U.S. based NantKwest Inc. has announced the launch of Merkel Cell Carcinoma Phase II Trial, novel triple combination.
In December 2018, the US Food and Drug Administration (FDA) has officially approved pembrolizumab, which is a programmed cell death–ligand-1 (PD-L1) inhibitor, for the treatment of advanced merkel cell carcinoma.
In December 2018, the US Food and Drug Administration (FDA) has granted accelerated approval to Keytruda for treating metastatic or recurrent locally advanced Merkel cell carcinoma (MCC) in adult and pediatric patients.
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