Eye Melanoma Market Analysis

Eye Melanoma Market Overview :

Eye Melanoma Market is expected to grow USD 8.35 Billion at a CAGR 8.60% during the forcast period 2023 to 2030.Melanoma is the cancer of melanin-producing cells. Eye melanoma or ocular melanoma can develop in the middle of the three layers of the eye, i.e., in between the sclera, retina, and uvea. The diseased layers of the eye cannot be visually examined, making the diagnosis of the disease difficult. The sensation of flashing lights, blurry vision in one eye, and loss of peripheral vision are some of the common symptoms of the eye melanoma. Increasing prevalence of the eye cancer and growing geriatric population are the major drivers of the market growth. According to the Cancer Research U.K, approximately 750 new cases of eye cancer were reported on a yearly basis within the U.K from 2013-2015.

Moreover, it was estimated that from the last decade, the prevalence of eye cancer has increased by 25% in the U.K. Additionally, rising healthcare expenditures and increasing research and development investments by the major players of the market boosts the market growth. However, lack of awareness, high diagnostics, and surgical procedures costs are estimated to restrain the market growth during the forecast period. The cost of the therapeutic procedures like laser iridotomy is estimated to be around USD 1,068 to USD 1,188. This makes such procedures an out of pocket concern for many patients.

Eye Melanoma Market is expected to grow at an approximate CAGR of 8.60% during the forecast period.

Intended Audience

• Pharmaceutical companies


• Biotechnological institutes


• Government and Private Laboratories


• Research and Development (R&D) Companies


• Medical Research Laboratories


• Market Research and Consulting Service Providers

Figure 1:  Eye Melanoma Market Share, By Region

Sources: American Cancer Society, WHO, Mayo Foundation for Medical Education and Research, American Society of Clinical Oncology, Office for National Statistics, annual reports, press release, white paper, and company presentation

Segmentation

The eye melanoma market is segmented on the basis of the site, diagnosis, treatment, and end user.

On the basis of the site, the Eye Melanoma Market is segmented into sclera, retina, uvea, and others.

On the basis of the diagnosis, the market is categorized into eye exam, imaging, biopsy, and others. The eye exam segment is further categorized into ophthalmoscopy, slit-lamp biomicroscopy, and others. The imaging is sub-segmented into ultrasound, fluorescein angiography, fundus autofluorescence, optical coherence tomography, and others. On the basis of the treatment, the market is segmented into radiation therapy, laser treatment, surgery, and others. The radiation therapy segment is sub-segmented into episcleral plaque therapy, external beam radiation therapy, and others. The external beam radiation therapy is further segmented into conformal proton beam radiation therapy, stereotactic radiosurgery, and others. The surgery segment is sub-segmented into iridectomy, choroidectomy, enucleation, and others. On the basis of the end users, the market is segmented into hospitals & clinics, academic institutes, and others.

Regional Analysis

America dominates the eye melanoma market owing to the presence of a well-developed healthcare sector and huge patient population. Apart from this, increasing number of patients, changing lifestyle, and increasing healthcare expenditure have boosted the growth of the American market. Additionally, the presence of the major market players like the GENERAL ELECTRIC, Analogic Corporation, NOVADAQ Technologies Inc. within the region fuels the market growth.

Europe is the second largest eye melanoma market. Factors such as increasing availability of funds for research, well-developed healthcare sector, huge patient population, and growing geriatric population are estimated to drive the market growth within the region. According to the Office for National Statistics the geriatric population within the U.K is estimated to reach approximately 69.8 billion by 2026 from 65.6 billion in 2016. 

The Asia Pacific is the fastest growing region for the market due to the presence of a huge patient population, continuously developing economies and rising healthcare expenditure. In countries like India, the presence of huge opportunities along with favorable government policies fuels the market growth.

The Middle East & Africa has the least share in the eye melanoma market due to the presence of poor economies and stringent government policies, especially in the Africa region. The Middle East holds a majority of the market due to a well-developed healthcare sector and huge healthcare expenditure by economies like Dubai, Kuwait, Dubai, and others.

Research Methodology

Sources: American Cancer Society, WHO, Mayo Foundation for Medical Education and Research, American Society of Clinical Oncology, Office for National Statistics, annual reports, press release, white paper, and company presentation

Key players in eye melanoma market

The key players for the eye melanoma market are Castle Biosciences, Inc. (U.S.), GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (The Netherlands), TOSHIBA CORPORATION (Japan), Siemens AG (Germany), Analogic Corporation (U.S.), Optovue, Incorporated (U.S.), NOVADAQ Technologies Inc. (Canada), Agfa-Gevaert Group (Belgium), and ZEISS (Germany).