The skin cancer treatment market is projected to expand from US$ 10.38 billion in 2022 to US$ 18.27 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.32% during this period.

Skin cancer primarily manifests in two forms: melanoma and non-melanoma. This type of cancer predominantly affects areas of the skin that are exposed to sunlight. According to the American Academy of Dermatology Association, one in five Americans will develop skin cancer in their lifetime. Additionally, nearly 3 million individuals in the United States are diagnosed with non-melanoma skin cancer each year. The anticipated rise in the incidence of both melanoma and non-melanoma skin cancers globally is expected to significantly enhance market revenues. Treatment options for skin cancer include immunotherapy, targeted therapy, chemotherapy, and radiation therapy, with 5-fluorouracil cream being one of the chemotherapy agents used. However, surgical intervention remains the most effective treatment method for skin cancer, making it the preferred choice among healthcare providers.

The increasing rates of melanoma and non-melanoma skin cancers are key factors driving the growth of the skin cancer treatment market.

The surge in melanoma and non-melanoma cases has become a crucial factor in the expansion and diversification of the skin cancer treatment market. The number of therapeutic options available for skin cancer has risen in response to the growing prevalence of the disease and heightened public awareness. Recent data from the National Library of Medicine indicates that in 2022, there were approximately 1.8 million new cases of squamous cell carcinoma (SCC) and 3.6 million cases of basal cell carcinoma (BCC) diagnosed in the United States. This increase in incidence is expected to lead to a significant rise in the demand for skin cancer treatments.

Moreover, the public's exposure to ultraviolet (UV) radiation has escalated in recent years, largely due to the effects of global warming. Areas experiencing severe ozone depletion have seen a corresponding rise in skin cancer cases. The Cancer Council of Australia reports that skin cancer, primarily caused by sun exposure, constitutes over 80% of all cancer cases diagnosed in the country annually. The organization also notes that the United States, the United Kingdom, and Canada have some of the highest skin cancer rates globally. Furthermore, the elderly population is particularly susceptible to skin cancer, and the anticipated growth of this demographic in these regions is expected to further support market expansion.

The skin cancer treatment market is categorized based on type, therapy, and end user. In terms of type, the market is divided into melanoma and non-melanoma categories. The treatment options are segmented into immunotherapy, targeted therapy, chemotherapy, radiation therapy, and other methods. The end-user segmentation includes hospitals, dermatology clinics, diagnostic centers, and additional healthcare facilities. Geographically, the market is divided into North America (including the US, Canada, and Mexico), Europe (covering the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia Pacific (including China, Japan, India, Australia, South Korea, and the rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and the rest of the region), and South & Central America (Brazil, Argentina, and the rest of the region).

From a geographical perspective, North America stands out as the largest contributor to the growth of the skin cancer treatment market, primarily due to the high incidence of skin cancer in the US and the widespread adoption of cancer therapies in the country. Additionally, the efforts of major industry players to develop innovative treatments for skin cancer are expected to positively influence market growth in this region. Non-melanoma skin cancer is particularly prevalent among Caucasian populations, which is why North America and Europe account for a significant share of the global market.

The Asia Pacific region is anticipated to experience the fastest growth rate throughout the forecast period. The demand for skin cancer treatments is expected to increase in this area, particularly in countries like Australia and New Zealand, where both melanoma and non-melanoma cases are on the rise. The combination of regulatory approvals for skin cancer therapies in the Asia Pacific and the presence of a large, underdeveloped market in emerging nations is likely to bolster the growth of the skin cancer treatment market in this region. Furthermore, as melanoma cases continue to rise in Europe, the market revenue is also expected to see healthy growth during the forecast period.

Key primary and secondary sources, including the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA), have been referenced in the preparation of the skin cancer treatment market report.