The treatment for oral cancer is a prime area of research as it is generally discovered late in its development. Industry leaders are emphasizing on the development of more effective diagnosis. Market Research Future (MRFR) has found out in its latest study that the global oral cancer treatment market is anticipated to exhibit a CAGR of 5.40% during the forecast period 2022 to 2030. The need for early detection of oral cancer is expected to boost the revenue growth of the market in the years to come.
The increasing burden of the disease is poised to catapult the oral cancer treatment market on an upward trajectory in the nearby future. As per the statistics presented by the Oral Cancer Foundation, 53,000 Americans are estimated to be diagnosed with oral or oropharyngeal cancer in 2019. Habits such as tobacco addiction trigger the rising risk of developing oral cancer. Increasing cases of smoking addiction are anticipated to propel the expansion of the oral cancer market in the forthcoming years.
The rising healthcare expenditure is likely to influence the growth pattern of the market positively over the next couple of years. On the contrary, the risk of recurrence of the disease, coupled with the adverse effects associated with the treatment, remains an impediment to market growth. In addition, the high cost of the treatment is expected to check the proliferation of the oral cancer treatment market across the review period.
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The global oral cancer treatment market, by type, has been segmented into verrucous carcinoma, squamous cell carcinoma, lymphomas, minor salivary gland carcinomas, and others.
On the basis of treatment, the oral cancer treatment market has been segmented into surgery, chemotherapy, radiotherapy, photodynamic therapy (PDT), and others. The surgery segment is further sub-segmented into glossectomy, tumor resection, Mohs micrographic surgery, laryngectomy, and others. The chemotherapy segment has been sub-segmented into carboplatin, cisplatin, 5-fluorouracil (5-FU), and others.
Based on end-users, the global oral cancer treatment market has been segmented into hospitals & clinics, academic institutes, research organization, and others.
By region, the global oral cancer treatment market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is projected to lead the global market owing to the exponentially rising patient population. The region is also witnessing a drastic rise in cancer expenditure which is forecasted to favor the expansion of the oral cancer treatment market in the region. Europe is the second-largest market for oral cancer. Rising investments in research & development are anticipated to fuel the growth of the oral cancer treatment market in the region. Asia Pacific has been projected to expand at the highest CAGR over the assessment period. The Middle East & Africa is poised to retain the least share of the market in the forthcoming years.
The key players participating in the global oral cancer treatment market are Qilu Pharmaceutical Co., Ltd. (Asia Pacific), Bristol-Myers Squibb Company (U.S.) Teva Pharmaceutical Industries Ltd. (Israel), F. Hoffmann-La Roche Ltd (Europe), Eli Lilly and Company. (U.S.), Merck & Co., Inc. (U.S.), Pfizer Inc. (U.S.), and Novartis AG (Europe).
In May 2019, Bristol-Myers Squibb Company, an American pharmaceutical company, participated in the UBS Global Healthcare Conference.
In January 2019, an American pharmaceutical company, Bristol-Myers Squibb Company, announced its plan of acquiring Celgene Corporation, an American biotechnology company, for creating a premier innovative biopharma company.
In September 2018, Qilu Pharmaceutical, a leading pharmaceutical company in China, announced the receipt of FDA approval for Palonosetron HCl Injection (2.5mg/5ml), a generic Aloxi® Injection, which is used in the treatment and prevention of chemotherapy-induced vomiting and nausea.
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