In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSHead and neck squamous cell carcinoma (HNSCC) is a type of cancer that develops from the tissues in the salivary glands, mouth, larynx, or the skin of the face. According to the World Health Organization’s classification of head and neck tumors (2005), there are different types of squamous cell carcinoma (SCC), namely, conventional, verrucous, basaloid, papillary, spindle cell, acantholytic, adenosquamous and cuniculatum. All of these SCCs can occur either in the nasopharynx, hypopharynx, larynx, trachea, nasal cavity and paranasal sinuses, oral cavity and oropharynx. HNSCC is caused primarily due to the consumption of tobacco or alcohol. These types of cancers are usually curable if diagnosed at an early stage. The HNSCC cancer can be treated by including a combination of surgery, chemotherapy, radiotherapy and targeted therapy.
The global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market is thriving on the back of growing incidences of head and neck cancers globally, and the need amongst the individuals to treat them. According to the statistics by the Centers for Disease Control and Prevention (CDC), 46,157 new cases of oral cavity and pharynx cancer were reported in the United States in the year 2017. Additionally, 10,126 people died due to this cancer disease. The global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market is anticipated to record a notable CAGR during the forecast period, i.e., 2021-2029. The market is segmented by distribution channel into online and offline. The offline segment is further classified into drug stores, hospital pharmacies and retail. Among these segments, the hospital pharmacies segment is anticipated to hold the largest market share during the forecast period on account of the increasing number of cancer patients visiting the hospital for treatments, and therefore their need for HNSCC drugs at the hospital premises. On the other hand, several of these drugs are restricted for sale in online platforms or even to retail pharmacy outlets. As a result, these restricted drugs are available only in the hospital pharmacies, which is anticipated to drive the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Head and neck cancers are treated by using single or combination therapies. Owing to the presence of different types of head and neck cancers, healthcare providers are increasingly working on developing drugs and treatment which are applicable for the treating the disease. Currently, several cancer vaccines for treating head and cancer drugs are under different phases of clinical trials and pharmaceutical manufacturers are spending heavily on research and development so as to come up with a proper cure for the disease. The Food and Drug Administration (FDA) has currently approved several drugs for treating head and neck cancer. Some of them include Bleomycin Sulfate, Cetuximab, Docetaxel, Erbitux, and others.
Immune therapeutics or immunotherapy is provided to cancer patients as it possesses numerous benefits over other therapy types. With the growing concern for the increasing number of cancer cases, there is a growing need for treating these patients. Immunotherapy helps the body to combat cancer with its own natural defenses. The process further slows or stops the growth of the cancer cells and stops it from spreading. Such a factor is therefore anticipated to drive the growth of the global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market during the forecast period.
Cancer treatment are always too costly, especially for individuals belonging from -low and -middle income groups. Moreover, unavailability of proper healthcare standards in several nations is also anticipated to lower the demand for head and neck squamous cell carcinoma (HNSCC) treatment and drugs. The high cost of treatment and drugs, along with the adverse effects of these drugs are some of the factors anticipated to lower the market growth during the forecast period.
Impact of COVID-19 on Head and Neck Squamous Cell Carcinoma (HNSCC) Treatment and Drugs
Since many of the drugs that are approved by the FDA are under clinical trials, the pharmaceutical companies need to continuously focus on research and development of these drugs and also find cancer patients to continue with their study processes. Owing to the COVID-19 pandemic, government and private entities have shifted their focus towards the development of COVID-19 vaccine, which has impacted the study of organizations who had their focus in the development of the drugs for HNSCC. Additionally, for the fear of the pandemic, hospitals observed a lower number of cancer patients which impacted largely the study of the clinical trials for the cancer vaccine.
Our in-depth analysis of the global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market includes the following segments:
On the basis of regional analysis, the global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Among these regions, the market in North America is anticipated to hold the largest share during the forecast period owing to the increasing prevalence of head and neck cancer in the region. Additionally, owing to the presence of a strong healthcare network, and the availability of numerous key players in the region, the market for head and neck squamous cell carcinoma (HNSCC) treatment and drugs is anticipated to display significant growth in North America.
The global head and neck squamous cell carcinoma (HNSCC) treatment and drugs market is further classified on the basis of regions as follows:
FREQUENTLY ASKED QUESTIONS
Growing R&D for cancer drugs and treatment is one of the major factors driving the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The head and neck squamous cell carcinoma (HNSCC) treatment and drugs market is majorly segmented by drug class and distribution channel and by region.
The hospital pharmacy segment, which is a sub-segment of the offline segment, under the distribution channel segment, is anticipated to hold the largest market share during the forecast period.
Concerns for high cost of treatment and drugs of head and neck cancer disease is one of the major factors estimated to act as barriers to the growth of the market.
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