Market Scenario:
The verrucous carcinoma market is expected to witness tremendous growth owing to the rising prevalence of oral cancer. Other key factors such as the change to sedentary lifestyle, growing consumption of alcohol, increase in smoking, and increasing incidents of sexually transmitted diseases by human papillomavirus (HPV) are contributing towards the growth of the market. However, factors such as high cost of surgical procedures, expensive chemotherapy treatments, risks of recurrence of cancer, and the side effects associated with treatments are expected to restrict the market growth during the forecast period.
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Verrucous carcinoma (VC) is a rare type of squamous cell carcinoma and is categorized under head and neck cancer. It is mainly caused due to the chewing of tobacco or snuffing it orally. It is also called as snuff dipper’s cancer. Verrucous carcinoma most commonly occurs at oral sites but is also observed in head and neck genital locations. It is mainly observed in males than in females and is found in the age group of 50 to 80 years.
The key factor responsible for influencing this market is the increasing prevalence of oral cancer. It may also be caused due to lifestyle factors such as smoking tobacco or marijuana, alcohol consumption, and others. Other key factors such as a change to sedentary lifestyle, growing consumption of alcohol, increasing tobacco users of dip, snuff, increase in smoking, rising family history of cancer prevalence, and increasing prevalence of sexually transmitted diseases by human papillomavirus are contributing towards the growth of the market. According to the World Health Organization in 2015, globally 1.1 billion people smoked tobacco. This is expected to provide favorable backgrounds for market growth during the forecast period.
However, factors such as the high cost of surgical procedures, expensive chemotherapy treatments, and side effects associated with treatments are expected to restrict the market growth during the forecast period.
Key players
Some of the key players in the global verrucous carcinoma market are Bristol-Myers Squibb Company (US) Qilu Pharmaceutical Co., Ltd. (Asia Pacific), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company. (US), F. Hoffmann-La Roche Ltd (Europe), Merck & Co., Inc. (US), Novartis AG (Europe), Pfizer Inc. (US), and others.
Segmentation
The global verrucous carcinoma market is segmented on the basis of diagnosis, treatment, and end-user. The verrucous carcinoma market, by diagnosis, is categorized into biopsy, endoscopy, and imaging tests. Imaging tests are categorized into computerized tomography scans, magnetic resonance imaging, and positron emission tomography scans. On the basis of treatment, the market is segmented into surgery, radiation therapy, chemotherapy, and targeted drug therapy. The surgery category consists of surgical excision and mohs micrographic surgery. Chemotherapy consists of bleomycin, 5-fluorouracil, cisplatin, methotrexate, and others. On the basis of end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic centers, research centers, and others.
On the basis of region, the global verrucous carcinoma market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Regional Market Summary
It is estimated that North America dominated the global verrucous carcinoma market owing to the increasing innovations in clinical practice, cancer research, and access to cancer treatment in this region. The American Cancer Society in August 2018 granted USD 15,866,878 for head and neck cancer research projects. This influences the market growth in this region
Asia-Pacific was projected to be the fastest growing region for the global verrucous carcinoma market in 2017. The market is expected to witness growth owing to the rising prevalence of oral cancer, changing lifestyle, and increasing tobacco use within the population. The Center for Cancer Control and Information Services estimated 15,600 cases of oral cavity and pharynx cancer in 2017 in Japan. Such a high incidence of oral cancer favors the market growth in this region.
According to the World Health Organization’s Fact Sheet on Tobacco and Oral Health (2018), Europe has the highest prevalence of tobacco smoking among adults that is 28% of adults in Europe are engaged in tobacco smoking. Such a high prevalence of smoking in this region facilitates the market growth. Europe stood second largest in the verrucous carcinoma market owing to the increasing use of tobacco.
The Middle East and Africa holds the least share in the global verrucous carcinoma market due to the presence of poor health expenditure and economically diverse countries. However, the market is expected to witness growth due to increasing cancer care programs in the Middle East.
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