Worldwide melanoma drug market to reach $3.6 billion by 2020

The global melanoma treatment market value will increase from $1.3 billion in 2013 to $3.6 billion by 2020, at an impressive compound annual growth rate (CAGR) of 15.4%, a new report states.

Historically, melanoma has been considered a challenging disease to treat with pharmacotherapy. Cutaneous melanoma (CM), one of the fastest-growing cancers worldwide, is by far the most common form of melanoma, accounting for around 90%-95% of all cases, according to business intelligence provider GBI Research’s report titled: Melanoma Therapeutics Market to 2020.

However, understanding of melanoma pathophysiology and heterogeneity, and particularly CM, has developed considerably in recent years. This has led to the approval of several new drug agents indicated for CM since 2011, which have dramatically improved treatment options for patients and led to unprecedented market growth.