Laryngeal Cancer Therapeutics Global Market Report 2024

The laryngeal cancer therapeutics market size has grown strongly in recent years. It will grow from $2.86 billion in 2023 to $3.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed in the historical period can be attributed to several factors, including the increasing incidence of laryngeal cancer, the evolution of treatment modalities, active engagement in clinical trial activities, government initiatives and funding directed towards cancer research and treatment, and enhanced patient awareness and education.

The laryngeal cancer therapeutics market size is expected to see strong growth in the next few years. It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to advancements in targeted and immunotherapy, the integration of genomic medicine, a growing geriatric population, global collaborations in health initiatives, and the expanding role of telemedicine in cancer care. Noteworthy trends expected in the forecast period include continued advancements in medical research, ongoing progress in immunotherapy, the development and application of personalized medicine and biomarkers, the exploration of combination therapies, an emphasis on patient-centric care, and evolving healthcare policies and access to cancer treatments.

The increasing prevalence of tobacco is anticipated to drive the growth of the laryngeal cancer therapeutics market in the future. Tobacco, derived from the leaves of Nicotiana plants, is utilized in various forms such as smoking, chewing, and snuffing. As a major risk factor for laryngeal cancer, tobacco use significantly influences the development and treatment outcomes of the disease. Laryngeal cancer therapeutics are focused on addressing the impact of tobacco use on the condition and its overall management. Notably, Statistics Canada reported a 5.8% increase in cigarette production in July 2022 compared to June 2021, with the total number of cigarettes sold rising by 1.3% in June 2022 to reach 1.4 billion. This underscores the role of increased tobacco prevalence in propelling the growth of the laryngeal cancer therapeutics market.

The rising demand for chemotherapy is poised to be a key driver for the laryngeal cancer therapeutics market in the coming years. Chemotherapy, involving the use of drugs to treat cancer, is increasingly sought after for managing advanced-stage laryngeal cancer. It proves effective in preserving parts of the larynx, controlling cancer cell growth, alleviating symptoms, and enhancing patients' overall quality of life. As per the American Cancer Society's data from January 2022, which estimated the number of U.S. cancer survivors at 18,060,100, the growing demand for chemotherapy underscores its significance in the laryngeal cancer therapeutics market.

The high cost of cancer treatment is expected to pose a hindrance to the growth of the laryngeal cancer treatment market in the future. This refers to the substantial financial burden associated with diagnosing and treating cancer. The elevated costs impact patients financially, contribute to increased healthcare expenses, influence treatment decisions, and negatively affect overall financial well-being. For instance, according to the American Cancer Society Cancer Action Network's (ACS CAN) data from December 2022, survivors' expenses, including follow-up care costs and addressing late and long-term effects of cancer, amounted to $1,881 per survivor. Additionally, 51% of surveyed patients reported incurring medical debt related to cancer, highlighting the challenges posed by the high cost of cancer treatment.

Prominent companies in the laryngeal cancer treatment market are focusing on developing innovative technologies such as Zeno AI to expand their customer base, drive sales, and increase revenue. Zeno AI represents a real-time AI solution designed for cancer detection and classification in the Ear, Nose, and Throat (ENT) region. For example, WSK Medical B.V., a Netherlands-based AI software company, introduced Zeno AI in September 2022. This real-time AI solution facilitates early detection of throat cancer during endoscopic examinations, providing instant localization and classification of laryngeal lesions on endoscopic videos. Zeno AI aims to streamline the early detection and diagnosis of laryngeal cancer, reducing analysis time and enabling faster implementation of care plans.

In November 2021, Coloplast A/S, a Denmark-based medical device manufacturing company, acquired Atos Medical AB for $2.49 billion. This strategic move enhances Coloplast A/S's production capabilities in the tracheostomy and laryngectomy segments, allowing them to establish a global footprint by operating Atos Medical as a separate strategic unit and brand. Atos Medical AB, based in Sweden, specializes in providing innovative laryngectomy and tracheostomy care products.

Major companies operating in the laryngeal cancer therapeutics market report are Pfizer Inc., F. Hoffmann La Roche Ltd., Merck & Co., AbbVie Inc., Novartis AG , Bayer AG, Sanofi-Aventis LLC , Bristol Myers Squibb, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., C.H. Boehringer Sohn AG & Co. KG., Regeneron Pharmaceuticals Inc., Incyte Corporation, Aurobindo Pharma Ltd., Cipla Inc., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Lupin Limited , Seagen Inc., Exelixis Pharmaceuticals Inc., BeiGene Ltd., Taiho Pharmaceutical Co. Ltd., Genentech Inc., Mirati Therapeutics Inc.

North America was the largest region in the laryngeal cancer therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laryngeal cancer therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the laryngeal cancer therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The laryngeal cancer therapeutics market consists of revenues earned by entities by providing services such as diagnostic services, treatment planning and coordination, surgical interventions, radiation therapy, and chemotherapy administration. The market value includes the value of related goods sold by the service provider or included within the service offering. The laryngeal cancer therapeutics market includes sales of radiation therapy machines, targeted therapies, immunotherapy drugs, surgical instruments, and voice prostheses. 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 primary treatment types for laryngeal cancer therapeutics include chemotherapy, immunotherapy, and others. Chemotherapy involves the use of potent drugs to kill or inhibit the growth of rapidly dividing cells, including cancer cells. In the context of laryngeal cancer, chemotherapy is often utilized to shrink cancerous cells before surgical intervention. The administration routes for chemotherapy drugs include oral and parenteral, and these drugs are distributed through hospital pharmacies, online pharmacies, and retail pharmacies. End users of laryngeal cancer therapeutics include hospitals, homecare, specialty centers, and others.

The laryngeal cancer therapeutics market research report is one of a series of new reports that provides laryngeal cancer therapeutics market statistics, including laryngeal cancer therapeutics industry global market size, regional shares, competitors with a laryngeal cancer therapeutics market share, detailed laryngeal cancer therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the laryngeal cancer therapeutics industry. This laryngeal cancer therapeutics 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 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.


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