Eye Cancer Treatment Market Boosting the Healthcare Industry Worldwide
Eye cancer, also known as ocular cancer, occurs in the eye of children and adults. It is in the form of tumor which starts in and around the eye. There are two types of eye cancer. Primary intraocular cancer starts in the eyeballs. Primary intraocular melanoma is the most common type followed by primary intraocular lymphoma. Retinoblastoma is the most common form of primary intraocular cancer which mostly occurs in children. Secondary intraocular cancer is a metastatic cancer which starts from other parts of the body and spreads to the eyes. Secondary intraocular cancer is more common than primary intraocular cancer and is often metastatic form of breast and lung cancers. Risk of prevalence of an eye cancer is higher in Caucasians than in people from Asia or African Americans. People with certain inherited conditions such as dysplastic nevus syndrome, BAP1 cancer syndrome, and other conditions are more prone to suffer from eye cancer.
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According to American Cancer Society estimates, there would be 3,360 new eye and orbit cancer cases, with 1, 860 in men and 1,500 in women, in 2019. Additionally, in the same year, 370 deaths are estimated to occur due to eye and orbit cancers, comprising 200 men and 170 women. According to NHS, 750 cases of ocular cancer in the U.K. are diagnosed every year.
Increase in incidence of eye cancers, surge in health care expenditure, and rise in risk factors such as geriatric population drive the global eye cancer treatment market. Moreover, rise in demand for innovative treatments including advanced surgeries and high investment by governments are anticipated to propel the global market during the forecast period. Technological advancements resulting in continuous innovation and rise in awareness about eye cancer symptoms and their common causes are expected to augment the global eye cancer treatment market from 2018 to 2026. Increase in secondary compared to primary eye cancers is likely to boost the growth of the global market in the next few years. Initiatives by governments to focus on the development of surgeries and investment in health care are the other factors projected to boost market growth. However, high cost of treatment, unavailability of skilled professionals especially in developing countries, and side effects of the treatment restrain the global eye cancer treatment market. Longer time taken by ocular cancer drugs to get approved by the regulatory bodies also hampers the growth of the market.
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The global eye cancer treatment market can be segmented based on type, treatment, end-user, and region. In terms of type, the global market can be classified into eyelid tumor, corneal cancer, uveal melanoma, and orbital tumor. Corneal cancer is a squamous cell carcinoma of the conjunctiva which is a malignant tumor that occurs in the lining of the eyeballs and eyelids. An orbital tumor occurs in the orbit which is the bony socket containing an eye. Orbit tumor could be malignant or benign and can be either primary or metastatic. Rhabdomyosarcoma and retinoblastoma are the two most life threatening orbital tumors. Retinoblastoma is a malignant tumor that starts from the retina. It is most common in children and often passed on from the parents. Eyelid tumor occurs in sebaceous gland known as the carcinoma of the eyelid. Uveal melanoma is a primary malignant tumor which is the most common eye cancer. Based on treatment, the global eye cancer treatment market can be categorized into surgery, radiation therapy, laser therapy, chemotherapy, and others. The others segment includes thermotherapy and brachytherapy. In terms of end-user, the global market can be divided into hospitals, clinics, and ambulatory surgical centers.
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In terms of region, the global eye cancer treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increase in demand for various surgical therapies for the treatment of eye cancers and rise in investment by governments in research & development of better eye cancer treatments boost the growth of the global eye cancer treatment market. North America dominated the global market in 2017 and the trend is projected to continue during the forecast period owing to the rising health care spending in the region and various innovative treatment offerings for eye cancer. Moreover, significant investments in research & development by companies and rise in awareness about eye cancers and their treatments are projected to boost the growth of the market in the U.S. Rise in the geriatric population is expected to increase the prevalence of primary eye cancers, as the risk increases with age. Europe is a prominent market for eye cancer treatments owing to the availability of treatment methods for eye cancer, high income of the population, and rise in demand for effective treatment. The eye cancer treatment market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Rise in health care expenditure, rapidly expanding health care industry, and high unmet needs are likely to drive the market in the region during the forecast period. Technological advancements in the treatment of eye cancers and rise in disposal income are anticipated to propel the eye cancer treatment market in Asia Pacific during the forecast period. Additionally, the geriatric population is increasing in the highly populated counties in Asia Pacific which is a risk factor for eye cancers. This is projected to augment the global eye cancer treatment market during the forecast period. According to the American Academy of Ophthalmology, the incidence of uveal melanoma is lower in people from Asia and people of color.
Major players operating in the global eye cancer treatment market include Novartis AG, Spectrum Pharmaceuticals, Inc., GlaxoSmithKline plc, Bayer AG, Amgen, Inc., Takeda Pharmaceuticals Company Limited, Eli Lilly and Company, AstraZeneca, F. Hoffmann-La Roche Ltd., Janssen Global Services, LLC, Sanofi, AbbVie, Inc., Pfizer, Inc., Merck & Co., Inc., Bristol-Myers Squibb Company, and Oncomed Pharmaceuticals.
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