The Global Head and neck cancer drugs market size stood at USD 1.3 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Cancers of the head and neck are categorized depending on the location. These areas include oral cavity, pharynx, larynx, paranasal sinuses & nasal cavity, and salivary glands. Increase in consumption of alcohol and tobacco is a major cause of head and neck cancer. An estimated 75% of head and neck cancers is caused due to consumption of alcohol and tobacco. Increase in the number of head and neck cancer patients across the world is anticipated to drive demand for therapeutics.
Rise in scientific and technological advancements in R&D and manufacturing processes is expected to increase the efficiency of drug development. However, a significant number of clinical trials fail to meet desired results. This acts as a major restraint of the global head and neck cancer market and in turn limits the entry of new players. For instance, in 2017, phase 3 trial designed to evaluate pembrolizumab for the treatment of patients with recurrent or metastatic head and neck squamous cell carcinoma failed to meet its pre-specified primary endpoint of overall survival. It is noted that the rising prevalence of head and neck cancers is the key factor driving the head and neck cancer market. According to the 2014 statistics suggested by the World Health Organization (WHO), the annual occurrence rate of head and neck cancer is more than 550,000 cases with nearly 300,000 deaths each year, worldwide. Around 90% of the head and neck cancers are squamous cell carcinomas, and they are also the sixth leading cancer by occurrence worldwide.
Various other factors such as growing geriatric population, huge research funding in oncology, unmet medical needs, rising competition among market players, improving regulatory framework, aging population, and increasing government assistance are continuously contributing to the growth of the global head and neck cancer market.
Despite these drivers, there are some issues associated with the head and neck cancer market. The high cost associated with treatment approach, side effects of available treatment options, lack of healthcare coverage, and poor healthcare system in low- and middle-income countries may hamper the growth of the market.