Updated on 5 February 2016
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The treatment market for head and neck squamous cell carcinoma (head and neck cancer) will expand almost four-fold from $386 million in 2014 to $1.53 billion by 2024, representing a strong Compound Annual Growth Rate (CAGR) of 14.8%, according to research and consulting firm GlobalData.
The company's latest report states that the major drivers of this impressive growth, which will occur across the seven major markets (7MM) of the US, France, Germany, Italy, Spain, the UK and Japan, include an increase in disease prevalence, and the launch of multiple premium-priced therapies for recurrent and metastatic disease.
These will be led by immuno-oncology products including Bristol-Myers Squibb's Opdivo and Merck's Keytruda, which are anticipated to enter the head and neck cancer market in late 2016 and 2017 respectively.
Dr Amy Yip, GlobalData's Analyst covering Oncology, states that the release of new immuno-oncology agents, particularly immune checkpoint inhibitors, has created much interest of late.
Dr Yip explains: "Monoclonal antibodies targeting programmed cell death 1 (PD-1) receptor or programmed death-ligand 1 (PD-L1), including Opdivo, Keytruda, and durvalumab, have generated much excitement in the medical community, with their promising early data and good patient responses.