Merkel Cell Carcinoma Market Share 2020, Growth Rate, CAGR Status with Product Portfolio, Supply Chain Analysis to 2027
Global Merkel Cell Carcinoma Market Research Report: By Diagnosis (Physical Examination, Sentinel Node Biopsy, Imaging Test), Treatment (Surgery, Radiation Therapy, Chemotherapy), End User (Hospitals & Clinics, Diagnostic Centers) – Forecast till 2027
Market Highlights
Increasing prevalence of Merkel cell carcinoma and growing geriatric population are estimated to be the major drivers for the market growth during the forecast period. Moreover, increasing R&D expenses by the key market players, rising mortality rate by MCC, and growing healthcare expenditure is further boosting the market growth. However, the high cost of therapeutics and related side effects along with the lack of awareness and low per capita healthcare expenditures in the developing economies restrains the market growth.
Segmentation
The global Merkel cell carcinoma market is segmented on the basis of diagnosis, treatment, and end users. On the basis of the diagnosis, the market is categorized into physical examination, sentinel node biopsy, imaging tests, and others. The imaging tests segment is sub-segmented into X-ray, computed tomography (CT), positron emission tomography (PET), and others. On the basis of the treatment, the market is segmented into surgery, radiation therapy, chemotherapy, and others. The chemotherapy segment is sub-segmented into etoposide, cisplatin, and others. On the basis of the end user, the market is segmented into hospitals & clinics, diagnostic centers, research organization, and others.
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Regional Analysis
The Americas dominate the global Merkel cell carcinoma market. Presence of a well-developed healthcare sector and high per capita healthcare expenditures provides favorable backgrounds for market growth within the region. Additionally, the presence of the major market players within the region fuels the market growth. Followed by the Americas, Europe leads the Merkel cell carcinoma market. Availability of funds for research, huge patient population, and government support for research & development is estimated to drive the market growth within the region. Asia Pacific is the fastest growing region for the market due to the presence of economies like India, Australia, and China and developing healthcare sector in the market. Increasing prevalence of skin cancer, growing geriatric population, and rising healthcare expenditure boost the market growth within the region. On the other hand, the Middle East & Africa has the least share in the Merkel cell carcinoma market due to the presence of poor economies and stringent government policies, especially in the African region. Majority of the market of this region is held by the Middle East.
Key Players
Pfizer Inc. (U.S.), Merck & Co., Inc. (U.S.), OncoSec Medical Incorporated (U.S.), Bristol-Myers Squibb Company (U.S.), General Electric Company (U.S.), Siemens Medical Solutions USA, Inc. (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), Philips Health Care (The Netherlands), AstraZeneca (U.K), Mediso Ltd. Endomagnetics Limited (Hungary), and others are some of the major players in the global Merkel cell carcinoma market.
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