The melanoma market was valued at USD 7.50 Billion in 2024 driven by rising melanoma cases and advancements in personalized medicine across 8 major markets. It is anticipated to grow at a CAGR of 11.80% during the forecast period of 2025-2034 and attain a market value of USD 22.88 Billion by 2034.
Base Year
Historical Year
Forecast Year
Increasing incidence, progress in immunotherapies and targeted therapies are propelling market growth. Increased funding for individualized treatments also drives expansion, fulfilling the need for efficient cancer remedies.
In February 2024, Amtagvi became the first cellular therapy for melanoma approved by the FDA, signifying notable progress. This advancement showcases the increasing adoption of creative therapies, thereby, motivating investigation in the market.
The United States is expected to lead the market due to its robust healthcare infrastructure, and significant R&D investment. India is also increasingly becoming an important player due to growing healthcare awareness and advancements in medical facilities.
Value in USD Billion
2025-2034
Melanoma Market Outlook
*this image is indicative*
Melanoma is a rapidly progressing form of skin cancer that originates from melanocytes, the cells responsible for producing pigment. The rising number of cases is leading to a greater need for accurate and effective treatment options. Advancements in immunotherapies and targeted therapies, paired with improved early detection and increasing FDA authorizations, are revolutionizing the treatments. These developments drive market expansion by encouraging investment in drug research and meeting rising needs for diverse as well as effective melanoma treatment options.
Rising Prevalence of Melanoma Drives Market Growth
Rising rates of melanoma, especially in regions with high levels of UV exposure has led to a notable increase in the need for successful treatments. In the United States, approximately 97,610 new cases of invasive melanoma were detected in 2023, impacting 58,120 males and 39,490 females, resulting in 7,990 fatalities (5,420 males and 2,570 females). This high frequency has motivated pharmaceutical companies to come up with new and enhanced treatment choices, driving market growth due to the ongoing need for effective therapies.
Several trends and developments are being observed in the market to enhance the current situation. The following are some of the noteworthy trends.
The market report offers a detailed analysis of the market based on the following segments:
Market Breakup by Therapy:
Market Breakup by Melanoma Stage:
Market Breakup by Route of Administration:
Market Breakup by End User:
Market Breakup by Region:
Market Segmentation Based on the Therapy Set to Witness Substantial Growth
The market is segmented into immunotherapies, targeted therapies, chemotherapy, radiation therapy, and others based on the therapy. Among these, chemotherapy is expected to dominate the market as it can destroy cancer cells and reduce damage to healthy tissues. The increasing progress in molecular biology and the rising need for personalized medicine are expected to strengthen the value of the market in the forecast period.
Based on the region, the market includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. Among these, the United States is expected to dominate the market due to the presence of key pharmaceutical companies and high healthcare spending. Strong research endeavors and government support for cancer research are contributing to market growth in the region.
Additionally, India also holds a substantial share because of increasing healthcare knowledge and advancements in medical facilities. The growing occurrence of prostate cancer and the rising utilization of advanced therapies are expected to continue driving market expansion in the nation.
The key features of the market report include clinical trials analysis, patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies are:
Pfizer Inc. is a global biotechnology and pharmaceutical leader based in New York. The company provides Tafinlar in conjunction with Mekinist for treating melanoma, specifically for those with BRAF V600E or V600K mutation.
Bristol-Myers Squibb Company is a global leader in immune-oncology research based in New York. The company offers various immunotherapy drugs like Opdivo (nivolumab), a PD-1 inhibitor that boosts the immune system's capacity to recognize and eradicate cancer cells.
Novartis is a Swiss-based pharmaceutical leader. The company provides combination therapies such as Tafinlar (dabrafenib) with Mekinist for melanoma patients with genetic mutations.
Eli Lilly & Co. was established in 1876 and headquartered in Indianapolis, Indiana. Their key portfolio includes products like immunotherapy drugs like CYRAMZA (ramucirumab), which treat different types of cancers including melanoma. This shows the company's desire to broaden the use of immunotherapy for rare cancers.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other companies include Merck & Co. Inc., Moderna, Inc., F. Hoffmann-La Roche AG (Genentech), Amgen Inc., GSK plc, and Regeneron Pharmaceuticals Inc.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Therapy |
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| Breakup by Melanoma Stage |
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| Breakup by Route of Administration |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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