Skin Cancer Diagnostics & Therapeutics Market by Disease Type (Melanoma, Non-melanoma), Type (Diagnosis, Therapeutics) - Global Forecast 2024-2030

[194 Pages Report] The Skin Cancer Diagnostics & Therapeutics Market size was estimated at USD 7.54 billion in 2023 and expected to reach USD 8.31 billion in 2024, at a CAGR 10.43% to reach USD 15.11 billion by 2030.

Skin cancer diagnostics involve a range of procedures and technologies designed to detect skin cancer at its earliest stages. The diagnostic process typically starts with a physical examination of the skin to identify suspicious lesions or moles. Once skin cancer is diagnosed, the therapeutic stage involves the treatment of the disease. Treatments can vary, as it depends on the type and stage of the cancer, and may include surgical procedures, including excision, Mohs surgery, and cryosurgery. Non-surgical options such as radiation therapy, chemotherapy, immunotherapy, and photodynamic therapy are also available and may be used either alone or in combination with surgical treatments. The rising incidence of skin cancer globally, increased healthcare investment and infrastructure, and growing awareness programs by governments and non-profit organizations have accentuated the need for skin cancer diagnostics and therapeutics. The introduction of personalized medicine and genomics into treatment protocols is also a potent driver. However, the high costs associated with advanced diagnostics and therapy, potential side effects and complications related to treatment, and disparities in access to healthcare services can impede the growth. Additionally, the procedural and technical difficulties associated with the diagnosis and therapy for skin cancer, coupled with a lack of skilled personnel, pose significant challenges. However, key players are exploring new areas of innovation, including the refinement of precision medicine techniques, the development of less toxic and more effective drug formulations, and exploring the potential of emerging fields such as immunotherapy and biologics to improve the efficiency and ease of skin care diagnostics and therapeutics.

The Americas region, particularly the U.S. and Canada, harbors a sophisticated healthcare system with substantial investments in skin cancer research and diagnostics. Patient behavior is driven by high awareness levels and access to advanced therapies. Public and private entities show commitment through funding and initiatives to reduce the incidence and death rates associated with skin cancer. There is a high number of patents in the field, showcasing significant innovation in diagnostic tools such as mole mapping technologies, AI-driven image analysis, and therapeutic approaches, including targeted therapies and immunotherapies. The European Union shows substantial heterogeneity in the prevalence of skin cancer and healthcare access across member states. Investments in skin cancer research and healthcare infrastructures vary, but there is a concerted effort, showcased through initiatives such as the EU's Horizon 2020 program, to harmonize and advance the fight against skin cancer. In the APAC region, rising government support for improving the healthcare infrastructure and increasing insurance penetration is translating into a greater need for skin cancer care. Countries with advanced healthcare systems, such as Japan and Australia, lead in patient expenditure and adoption of innovative therapies.

The market dynamics represent an ever-changing landscape of the Skin Cancer Diagnostics & Therapeutics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Growing Incidences and Rising Awareness of Skin Cancer Globally
  • Rising Government Initiatives for Early Detection and Skin Cancer Treatment
  • Proliferation in Research and Development Pipelines for Skin Cancer Diagnostics and Therapeutics
• Market Restraints
  • High Cost Associated With the Various Skin Cancer Treatment
• Market Opportunities
  • Advancements in Skin Cancer Diagnostics & Therapeutics
  • Developments of Skin Cancer Care in Emerging Nations
• Market Challenges
  • Side Effects of Radiation Therapy for Skin Cancer

• Disease Type: Growing need to ensure quick and early diagnosis and treatment of melanomas

  Melanoma is a severe form of skin cancer originating in the cells that produce melanin, the pigment that gives skin its color. For diagnostics, methods such as dermoscopy, skin biopsies, lymph node mapping, and imaging tests are in demand, while treatments range from surgical excision and chemotherapy to targeted therapy and immunotherapy. Preference for these options varies based on the tumor's characteristics, staging, and patient health. Compared to non-melanoma skin cancers, melanoma requires more aggressive treatment and ongoing surveillance due to its high metastatic potential. The prognosis generally worsens with later-stage diagnoses. Therefore, early and accurate diagnostics are heavily emphasized. Non-melanoma skin cancers predominantly include basal cell carcinoma (BCC) and squamous cell carcinoma (SCC), which are generally less aggressive than melanoma. Although these cancers are more common, they have a significantly lower risk of spreading, and the treatment often involves local procedures such as surgical excision, cryosurgery, or topical medications for early stages. Photodynamic therapy and radiation may also be utilized. Non-melanoma treatments and diagnostics are usually less expensive and less complex than those for melanoma.

• Type: Advancements to improve therapeutics for skin cancer to cater to the rising incidences of skin cancer patients

  Diagnosis plays a highly critical role in the management of skin cancer, enabling early detection and thereby increasing the likelihood of successful treatment outcomes. The diagnostic segment includes various technologies and methods such as dermatoscopy, biopsy, imaging tests, and molecular diagnostics. While blood tests are not commonly used to diagnose skin cancer, they can provide valuable information about the patient's overall health and organ function, particularly in advanced cases where cancer may have spread. Dermatoscopy refers to a non-invasive diagnostic tool used to examine skin lesions. Imaging tests such as ultrasound, X-rays, computed tomography (CT) scans, positron emission tomography (PET), or magnetic resonance imaging (MRI) scans may be used to determine the spread of skin cancer to other parts of the body. When there is a suspicion of skin cancer spread, a lymph node biopsy can be performed to evaluate whether cancer cells have metastasized to the lymphatic system. A skin biopsy is the primary method used to diagnose skin cancer. It involves removing a sample of suspicious skin tissue, which is then examined under a microscope for the presence of cancer cells. The therapeutics for skin cancer range from surgical treatments to advanced systemic therapies and immunotherapies, with the choice of treatment usually dependent on the stage and type of skin cancer. Chemotherapy remains a potent systemic treatment modality for various stages of skin cancer, particularly for metastatic or advanced disease. It involves the use of anti-cancer drugs that are administered orally or intravenously to destroy rapidly dividing cancer cells. Non-invasive therapies have gained traction as they offer significant advantages by targeting cancer cells while minimizing damage to surrounding healthy tissue. These therapies include topical treatments, radiotherapy, or photodynamic therapy. Surgical procedures range from minimally invasive techniques such as cryosurgery, which involves freezing and destroying abnormal tissue, to more extensive surgeries such as Mohs surgery, which removes cancerous tissue layer by layer while preserving as much healthy tissue as possible.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Skin Cancer Diagnostics & Therapeutics Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The value chain of the Skin Cancer Diagnostics & Therapeutics Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of theSkin Cancer Diagnostics & Therapeutics Market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

The regulatory framework analysis for the Skin Cancer Diagnostics & Therapeutics Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Skin Cancer Diagnostics & Therapeutics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Skin Cancer Diagnostics & Therapeutics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

• FDA Approves First AI-Powered Skin Cancer Diagnostic Tool

  The U.S. Food and Drug Administration has authorized the DermaSensor, an innovative artificial intelligence-driven device designed for the non-invasive diagnosis of skin cancer, encompassing melanoma, basal cell carcinoma, and squamous cell carcinoma. DermaSensor is a portable device employing spectroscopy to scrutinize skin lesions at both cellular and subcellular scales. It then applies a sophisticated, FDA-sanctioned algorithm to interpret the data. This tool was rigorously evaluated in the pivotal DERM-SUCCESS trial, which was spearheaded by researchers at the Mayo Clinic and involved over a thousand participants across twenty-two dedicated centers. [Published On: January 17, 2024]

• Sun Pharma, Philogen Collaborate to Commercialise Skin Cancer Drug in Europe

  Sun Pharmaceutical Industries Ltd. announced a partnership with Philogen SpA, aimed at bringing the innovative oncological drug Nidlegy to market. This drug, which is undergoing Phase III clinical trials, represents a new biopharmaceutical approach to battling cancer. The licensing agreement covers the commercialization rights in key regions, notably Europe, Australia, and New Zealand. [Published On: May 30, 2023]

• Incyte Announces FDA Approval Of Zynyz (Retifanlimab-Dlwr) For Treatment Of Metastatic/Recurrent Locally Advanced Merkel Cell Carcinoma (MCC)

  Incyte Corporation announced that Zynyz (retifanlimab-dlwr), a novel humanized monoclonal antibody designed to inhibit the programmed death receptor-1 (PD-1), has received approval from the U.S. Food and Drug Administration (FDA) for use in adult patients battling metastatic or locally advanced recurrent Merkel Cell Carcinoma (MCC). This form of skin cancer, known for its rarity and aggressive behavior, typically manifests as a solitary, smooth, and often violet-hued skin growth, most common on areas of sun-exposed skin such as the head, neck, and extremities. [Published On: March 22, 2023]

The report delves into recent significant developments in the Skin Cancer Diagnostics & Therapeutics Market, highlighting leading vendors and their innovative profiles. These include F. Hoffmann-La Roche AG, Abbott Laboratories, Agilent Technologies, Inc., Elekta AB, Bristol-Myers Squibb Company, Daiichi Sankyo Company, Limited, DermTech, Inc. by Bausch Health Companies Inc., Castle Biosciences, Inc., Veriskin Inc., NeraCare GmbH, AB Science, Eli Lilly and Company, GlaxoSmithKline PLC, bioMérieux SA, Sirnaomics, Inc., Merck & Co., Inc., AstraZeneca PLC, SkylineDx BV, Pfizer Inc., DAMAE Medical, Novartis AG, Amgen, Inc., QIAGEN N.V., Sun Pharmaceutical Industries Ltd., AMLo Biosciences Ltd., Almirall, S.A., and Sanofi S.A..

This research report categorizes the Skin Cancer Diagnostics & Therapeutics Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Disease Type
  • Melanoma
  • Non-melanoma
• Type
  • Diagnosis
    • Blood Tests
    • Dermatoscopy
    • Imaging Tests
    • Lymph Node Biopsy
    • Skin Biopsy
  • Therapeutics
    • Chemotherapy
    • Non-invasive Therapy
    • Surgery

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?