Eye Cancer Treatment Market Foreseen to Grow Exponentially by 2031

 

Eye Cancer Treatment: Introduction

  • Eye cancer, also known as ocular cancer, occurs in the eye of children and adults. It is in the form of a tumor that starts in and around the eye. There are two types of eye cancer. Primary intraocular cancer starts in the eyeballs. Primary intraocular melanoma is a highly common type, followed by primary intraocular lymphoma.
  • Retinoblastoma is a highly common form of primary intraocular cancer that mostly occurs in children. Secondary intraocular cancer is a metastatic cancer that starts from other parts of the body and spreads to the eyes. Secondary intraocular cancer is more common than primary intraocular cancer, and it 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, are more prone to suffer from eye cancer.

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Key Drivers of Global Eye Cancer Treatment Market

  • Increase in incidence of eye cancers, surge in healthcare expenditure, and rise in risk factors such as geriatric population drive the global eye cancer treatment market. Moreover, a rise in the demand for innovative treatments, including advanced surgeries, and high investment by governments are anticipated to propel the global market during the forecast period.
  • 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.
  • 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. Increase in secondary compared to primary eye cancers is likely to boost the global market in the next few years.
  • Initiatives by governments to focus on the development of surgeries and investment in health care are other factors that are projected to boost the market. 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 receive approval by regulatory bodies also hampers the market.

Orbit Tumor to be Highly Attractive Segment

  • In terms of type, the global eye cancer treatment 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 a highly common eye cancer.

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Laser Therapy to be Highly Attractive Segment

  • Based on treatment, the global eye cancer treatment market can be categorized into surgery, radiation therapy, laser therapy, chemotherapy, and others
  • The laser therapy segment is estimated to account for a notable share during the forecast period owing to the high number of laser procedures for the treatment of eye cancer

Hospitals to be Highly Lucrative Segment

  • Based on end-user, the global eye cancer treatment market can be categorized into hospitals, clinics, and ambulatory surgical centers
  • The hospitals segment is likely to account for a major share of the global eye cancer treatment market by 2031 due to an increase in consultation of patients in hospitals

North America to Offer Significant Opportunities in Eye Cancer Treatment Market

  • 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
  • North America accounted for major share of the global market in 2020. 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 eye cancer treatment market in North America. Moreover, significant investments in research & development by companies and rise in awareness about eye cancers and their treatments are projected to propel 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 a rise in the demand for effective treatment
  • The eye cancer treatment market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Rise in healthcare expenditure, rapid expansion of the healthcare 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.

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Key Players Operating in Global Eye Cancer Treatment Market

The global eye cancer treatment market is semi-consolidated, with the presence of international and local players. Key players operating in the global eye cancer treatment market are:

  • 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
  • Oncomed Pharmaceuticals

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