Tonsil Cancer Market Set to Grow Exponentially at USD 3396.3 Million by 2023

Competitive Analysis

Hoffmann-La Roche Ltd (Switzerland), Amgen Inc. (US), Novartis AG(Switzerland), Abbott (US), Beckman Coulter Inc. (US), Debiopharm Group (Switzerland), AbbVie Inc. (US), Bayer AG (Germany), Amgen, Inc. (US), Eli Lilly and Company (US), AstraZeneca Plc. (UK), GlaxoSmithKline Plc. (UK), Bayer AG (Germany), and others are Top Key Player of global Tonsil Cancer Market.

As no absolute treatment options are available for the cure of tonsil cancer, many manufacturers are investing in research and development programs to identify the novel drug for the treatment of tonsil cancer. And this provides a wide range of opportunities for the development of market across the world. Beside this the key challenge for the manufacturers is to provide a cost-effective treatment to the people. Additionally, increasing government support and availability of the funds in developed countries has encouraged the manufacturers.

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Latest Industry Updates

Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-

Sept 2017: Merck, an American pharmaceutical company, launched an anticancer drug, Keytruda in India

Aug 2016: the two U.S. based pharmaceutical company Merck and Bristol Myer Squibb's cancer drug Keytruda and Opdivo respectively have generated global sales of USD 566 million and USD 942 million

Aug 2016: FDA has approved Merk’s Pembrolizumab drug for the treatment of Head and Neck Cancer

Additionally, a number of drugs are in the pipeline and is expected to launch soon in the market due to increasing need for the drugs. In coming years, introduction of the new and advanced drug may revolutionize the market.

Global Tonsil Cancer Market – Overview

During last few decades, cancer has acquired a huge attention owing to the continuously increasing number of people suffering from cancer. Over 100 types of cancer has been identified across the globe. Tonsil cancer begins in the cells of tonsils. It cause difficulty in swallowing and a sensation that something is caught in the throat. During last few decade, the research activities for the cancer and its treatment has intensified owing to rapidly increasing number of cancer patients across the globe. According to Cancer Research UK in 2012, 14.1 million of new cancer cases was registered globally, which is increasing continuously.

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Adoption of smoking and alcoholism has increased the incident of cancer. Increasing number of tonsil cancer patients is the major driving factor for the global tonsil cancer market. Though a number of the treatments are available in the market, however, the precise treatment is not yet available. Owing to rising need for the better drug for the treatment for cancer, government of different countries has started supporting the companies and research organization. Increasing government support and unmet needs of the treatment have boosted the growth of the market. On the other hand, long time for approval, side effects, and high cost of treatment may slower the market growth.

Regional Analysis

The global tonsil cancer market is segmented into four regions: Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas dominates this market, particularly North America. The growth is mainly attributes to funding by companies and government for research to develop effective cure for this disorder. The U.S. has one of the best medical facilities of the world such as advanced diagnosis and treatment facilities that is leading the market growth. Developing healthcare infrastructure is driving the growth for Latin America tonsil cancer market. Smoking and alcohol consumption are rapidly increasing in Europe which driving the market growth in this region.

As per the data published by World Health Organization, prevalence of tobacco smoking in adults is around 28% in Europe which is highest as compared to other regions of the world. Availability of skilled medical professional and advanced healthcare facilities are another major driving forces for this market. This region is mainly divided into Eastern and Western Europe. Western Europe dominates this market but these are now matured markets while Eastern Europe is showing significant growth in this market. Asia Pacific is the home for more than half of the world’s population. Rapidly growing economies are putting more money for development of healthcare facilities which is one of the factors that are leading the market growth. Increasing awareness and rising healthcare expenditure are also leading the market growth. Due to lack of knowledge of this disorder and limited access to the healthcare facilities, Middle East & Africa region is expected to have least growth in global tonsil cancer market.

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