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What are the growth projections for the imlygic market from 2024 to 2029?
The imlygic market size has XX (HCAGR) in recent years. It will grow from $XX million in 2024 to $XX million in 2025 at a compound annual growth rate (CAGR) of XX%. The growth in the historic period can be attributed to rising incidence of melanoma, rising prevalence of cancer, FDA approval and market access, growing awareness of oncolytic virus therapy, and rising healthcare expenditure.
The imlygic market size is expected to see XX (FCAGR) in the next few years. It will grow to $XX million in 2029 at a compound annual growth rate (CAGR) of XX%. The growth in the forecast period can be attributed to increasing demand for targeted therapy, increasing focus on combination therapies, rising research and development funding, rise in the adoption of novel therapeutics, and global market penetration. Major trends in the forecast period include increasing combination therapies, rising adoption of immunotherapies, focus on personalized medicine, growing oncological research and development investment, and evolving regulatory frameworks.
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What strategic initiatives by market players are driving imlygic industry growth?
The rising incidence of melanoma is expected to propel the growth of the imlygic market going forward. Melanoma is a type of skin cancer that develops in the melanocytes, the cells responsible for producing pigment in the skin. The incidence of melanoma is increasing due to factors such as prolonged sun exposure, tanning bed use, and genetic predisposition. Imlygic (talimogene laherparepvec) is an oncolytic viral therapy injected directly into melanoma tumors to promote local tumor destruction and systemic anti-tumor immune response. For instance, in December 2023, according to the National Library of Medicine, a US-based biomedical library, the number of melanoma cases in the EU-27 (27 member countries of the European Union (EU) ) was 101,510 in 2022, and it is expected to increase to 115,540 by 2040. Therefore, the rising incidence of melanoma is driving the growth of the imlygic market.
What emerging segments are shaping the future landscape of the imlygic industry?
The imlygic market covered in this report is segmented –
1) By Patient Demographics: Pediatric Patients, Adult Patients
2) By Distribution Channel: Hospitals, Specialty Clinics, Online Pharmacies, Retail Pharmacies
3) By Application: Melanoma Treatment, Combination Therapy, Other Cancer Types
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How are key players in the imlygic market strengthening their market position?
Major companies operating in the imlygic market include Amgen Inc.
Which geographic areas are contributing significantly to the growth of the imlygic sector?
North America was the largest region in the imlygic market in 2024. The regions covered in the imlygic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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