Skin Cancer Drugs Global Market Report 2024

The skin cancer drugs market size has grown rapidly in recent years. It will grow from $4.16 billion in 2023 to $4.73 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth observed in the historical period can be ascribed to factors such as the rising occurrence of skin cancer, concerns related to sun exposure and UV radiation, advancements in diagnostic methods, shifting demographics with an aging population, as well as regulatory approvals and ongoing clinical research.

The skin cancer drugs market size is expected to see rapid growth in the next few years. It will grow to $7.65 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The anticipated growth in the forecast period can be credited to advancements in immunotherapy, ongoing research in precision medicine and biomarkers, implementation of patient education and awareness programs, global collaborations in research initiatives, and the expansion of therapeutic options. Major trends expected in the forecast period encompass the utilization of combination therapies for heightened effectiveness, the adoption of personalized medicine approaches, the creation of topical treatments, a heightened focus on early detection and prevention, and the exploration of novel drug delivery systems.

The significant increase in skin cancer prevalence is fueling the demand for drugs to address this condition. To cater to the growing cases of skin cancer, there is a continuous development of innovative drugs. In 2022, The American Cancer Society reported that around 99,780 new cases of melanoma skin cancer were diagnosed, with an estimated 7,650 deaths annually. This surge in skin cancer cases is contributing to an elevated demand for skin cancer drugs, consequently propelling the market.

The rise in sun exposure and tanning among individuals is anticipated to drive the future growth of the skin cancer drug market. Sun exposure, representing the time spent in sunlight with potential positive and negative effects on the skin and overall health, coupled with tanning resulting from prolonged exposure to sunlight or other sources of ultraviolet (UV) radiation, contributes to skin diseases such as skin cancer. With advancements in treatment options and increased awareness, there is a notable expansion in the skin cancer drugs market. For example, a survey by the American Academy of Dermatology in April 2022 revealed that 63% of 1000 surveyed US adults reported getting a tan in 2021, marking a 9% increase from the previous year's 54%. Moreover, one-third of respondents (33%) experienced sunburn, showing an eight-point rise compared to the previous year's 25%. Thus, the heightened sun exposure and tanning practices among individuals are steering the growth of the skin cancer drug market.

The growing utilization of biologics and targeted therapies poses a challenge in the skin cancer drugs market. Targeted therapies specifically aim at melanoma cells, contrasting with chemical drugs that affect any rapidly dividing cells. Given their precision in targeting only melanoma-causing cells, targeted therapies are preferred by physicians for skin cancer treatment. This preference is anticipated to impact the sales of traditional chemical skin cancer drugs, thereby restricting the potential growth of the skin cancer drugs market.

Companies operating in the Skin Cancer Market are increasingly opting for Strategic Alliances with other market players. Such alliances are seen as beneficial in enhancing R&D capabilities, expediting new drug development, and strengthening competitive positions. For instance, Leo Pharma strategically aligned with PellePharm to jointly develop a drug for treating Gorlin syndrome, a rare form of skin cancer. MorphoSys collaborated with LEO Pharma to develop antibodies for skin cancer treatment. Pfizer entered a strategic alliance with Merck KGaA to produce an innovative drug for skin cancer.

Major companies in the skin cancer drugs market are placing emphasis on securing product approvals to better cater to existing demand. The increase in product approvals results from a combination of scientific advancements, regulatory adjustments, market demands, and patient advocacy. For example, in March 2023, Incyte Corporation, a US-based pharmaceutical company specializing in skin cancer drugs, announced FDA approval for Zynyz (Retifanlimab-Dlwr) in the treatment of metastatic or recurrent Merkel cell carcinoma (MCC). Zynyz, a monoclonal antibody targeting programmed death receptor-1 (PD-1), obtained expedited FDA approval based on tumor response rate and duration of response (DOR). Its continued clearance for this use is contingent upon confirmation of therapeutic benefits in confirmatory studies.

In April 2022, Regeneron, a US-based biotechnology company, acquired Checkmate Pharmaceuticals for $250 million. This acquisition expands Regeneron's immuno-oncology research efforts, focusing on potential approaches for challenging-to-treat cancers, particularly in the domain of skin cancer drugs. Checkmate Pharmaceuticals, a US-based company in the skin cancer drugs sector, aligns with Regeneron's strategic objectives.

Major companies operating in the skin cancer drugs market report are Pfizer Inc., Meda Pharmaceuticals, Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Novartis International AG, Sanofi SA, Bristol Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Mylan N.V., Daiichi Sankyo Company Limited, Bausch Health Companies Inc., Valeant Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Ipsen Pharma, Varian Medical Systems Inc., Kyowa Kirin Co. Ltd., QIAGEN N.V., Elekta AB, Cannabis Science Inc., LEO Pharma A/S, Aqua Pharmaceuticals, iCAD Inc., AB Science, Cellceutix Corporation, Eisai Co. Ltd., Otsuka Pharmaceutical Co. Ltd., Seattle Genetics Inc. North America was the largest region in the skin cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the global skin cancer drugs market during the forecast period. The regions covered in the skin cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary classifications of skin cancer drugs include actinic keratoses (AK), basal cell carcinoma (BCC), squamous cell carcinoma (SCC), and melanoma. Actinic keratoses manifest as broad, rough skin patches that may transform into cancerous growths, typically emerging on sun-exposed areas such as the face, scalp, hands, and chest, with a higher incidence in fair-skinned individuals. Terms such as solar keratosis and senile keratosis are used interchangeably to describe this condition. The various drug classes employed in skin cancer treatment encompass chemotherapy, immunotherapy, targeted agents, and other drugs, with applications extending to hospitals, cancer research centers, and clinics.

The skin cancer drugs market research report is one of a series of new reports that provides skin cancer drugs market statistics, including skin cancer drugs industry global market size, regional shares, competitors with a skin cancer drugs market share, detailed skin cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the skin cancer drugs industry. This skin cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the skin cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The skin cancer drugs market consists of sales of vismodegib (Erivedge) and sonidegib (Odomzo). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.