The Throat Cancer Market is expected to reach USD 4.82 billion by 2032, growing at an 8.4% CAGR between 2023 and 2032
The Throat Cancer Market is expected to reach USD 4.82 billion by 2032, growing at an 8.4% CAGR between 2023 and 2032.
The throat cancer market is a well-established space, growing pervasively. Alongside the Increasing prevalence of the diseases, other factors substantiating the market growth are changing lifestyle, inclination towards the sedentary lifestyle, and the growing addiction towards smoking and drinking, leading to the occurrence of this type of cancer.
Throat cancer refers to a tumor of the vocal cords, voice box, and different parts of the throat, for example, the oropharynx and tonsils. Introduction of the novel medicines & therapies that can give improved outcomes provides impetus to the growth of the market of throat cancer. The growing prevalence of throat cancer market research worldwide is driving the growth, escalating the market on the global platform.
Acknowledging the traction, this market is vibrating with currently; Market Research Future (MRFR) in its recently published study report asserts that the global throat cancer market will grow exponentially by 2032, posting a phenomenal CAGR throughout the forecast period of (2023–2032).
Seminal efforts & investments put into the development of innovative drugs and therapies, by the majority of market players are driving the market growth. Initiatives & programs undertaken by the governments worldwide to control the disease are playing a significant role, fostering the market growth to an extent.
On the flip side, factors such as low awareness among people towards the availability of throat cancer treatments and the high manufacturing cost of the devices & medicines used in the disease management are impeding the market growth largely.
Global Throat Cancer Market – Segments
The MRFR analysis is segmented into three key dynamics for the convenience of understanding.
Although the North American region accounts for the leading market for throat cancer possessing the largest market share, the European region is also a lucrative market for throat cancer, following the North American market closely. Throat cancer market in these regions is fostered by the increasing number of patients suffering from the disease, well-developed technology, high healthcare expenditures, and the presence of leading market players.
Throat cancer is one of the paramount cancers in Western countries, attributing to the growing prevalence of Human papillomavirus (HPV), which is often a sexually transmitted infection. Earlier as in before 1995, smoking and alcohol were considered as the main cause of throat cancer. Now, HPV has replaced that becoming the prime cause for the throat cancer.
The Asia Pacific market for the throat cancer is expected to perceive an exponential growth, emerging as one of the promising markets.
Furthermore, the research and development expenditure provided by the public and private associations, increasing competition among key players, rising healthcare expenditure, and amendments in reimbursement of healthcare policies are expected to foster the market growth in the APAC region.
Throat Cancer Market – Competitive Landscape
The market for throat cancer appears fragmented and fiercely competitive due to many large and small players churning the competition in the market. Through the strategic partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain a competitive edge.
Key Players:
The market is driven by some of the eminent players including Bristol-Myers Squibb, Amgen Inc., Celgene Corporation, Engeneic Ltd, Eli Lilly and Company, F. Hoffmann-la Roche AG, Novartis, Merck & Co., Inc., Pfizer Inc., and Teva Pharmaceutical Industries Ltd.
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