Melanoma treatment market forecast to grow to $5.64 billion by 2023

The global treatment market for melanoma will expand more than fourfold in value from $1.34 billion in 2013 to reach an estimated $5.64 billion by 2023, representing a robust compound annual growth rate (CAGR) of 15.5%.

According to research and consulting firm GlobalData’s latest report, this impressive growth, which will occur across the eight major markets (8MM) of the USA, France, Germany, Italy, Spain, UK, Japan, and Australia, will be driven primarily by increasing sales of Bristol-Myers Squibb’s (NYSE: BMY) blockbuster immunotherapy Yervoy (ipilimumab).

Fenix Leung, GlobalData’s analyst covering oncology and hematology, says: “While Yervoy’s sales will be negatively impacted by the first-line uptake of PD-1-targeting monoclonal antibodies (MAbs) Keytruda [pembrolizumab, from Merck & Co] and Opdivo [nivolumab, from B-MS] from 2015 to 2017, the approval of the Yervoy/Opdivo combination will recover the former’s market position in the second half of the forecast period. Furthermore, Yervoy’s label expansion into the lucrative adjuvant setting will further enhance its sales from 2019 onwards.”