Throat cancer is a cancer of larynx, vocal chords and other areas of the throat with common symptoms such as cough, sore throat, ear pain, change in voice, difficulty swallowing and others. Market Research Future (MRFR) has published a report stating that The Throat Cancer Market is projected to reach USD 4,400 Million by 2030 at 8.4% CAGR during the forecast period 2022-2030.
Market Drivers and Restraints:
Increasing incidences of throat cancer that are majorly caused due to the addictive habits of smoking, heavy alcohol consumption, betel chewing and others are inducing demand for innovative medications and effective treatments in the global throat cancer market, which in turn is fueling the growth of the global throat cancer market. The rise in geriatric population and widely spreading HPV infections are some other factors that are majorly driving the global throat cancer market.
However, lack of proper diagnosis and targeted medication, side effects related to chemotherapy drugs and lack of awareness in underdeveloped regions are creating hindrance in the growth of the global throat cancer market.
Market Segmentation:
The global throat cancer market has been segmented on the basis of types and treatments. Based on types, the throat cancer market is segmented into pharyngeal cancer and laryngeal cancer. Based on treatments, the throat cancer market is segmented into surgery, radiation therapy, chemotherapy and others. Among these, the chemotherapy segment is anticipated to account for the major share in the global throat cancer market during the forecast period.
Regional Analysis:
Geographically, the global throat cancer market is segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. The North America region is anticipated to expand significantly and project dominance over the global throat cancer market owing to the presence of well-developed healthcare infrastructure, high health care expenditure by the population and presence of prominent players in the global throat cancer market in this region. The throat cancer market in the Europe region is expanding at a noteworthy pace due to the increased research and development activities in the healthcare sector of this region. The high prevalence of throat cancer and increasing awareness regarding the symptoms and available treatments are driving the throat cancer market in the developing economies of the Asia pacific region.
Competitive Analysis:
The players in the global throat cancer market are undergoing strategic alliances, mergers and acquisitions in order to expand their business and dominate the global throat cancer market. The increased research and development expenditure is strengthening the competition in the global throat cancer market.
In August 2018, a study published in the British Medical journal Open has confirmed that smoking tobacco significantly increases the risk of oral HPV infection which leads to throat cancer.
The leading players profiled by MRFR in the report on the global throat cancer market are Amgen Inc., Bristol-Myers Squibb, Celgene Corporation, Eli Lilly and Company, Engeneic Ltd, F. Hoffmann-la Roche AG, Merck Co., Inc., Novartis, Pfizer Inc., Teva Pharmaceutical Industries Ltd and Others.
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