The skin cancer treatment market is expected to grow from US$ 10.38 billion in 2022 to US$ 18.27 billion by 2030; it is anticipated to record a CAGR of 7.32% from 2022 to 2030.

Skin cancer can be of two main types: melanoma and non-melanoma. Skin exposed to the sun is primarily affected by skin cancer. As per the American Academy of Dermatology Association, skin cancer affects one in five Americans now. Furthermore, according to the group, almost 3 million Americans receive a diagnosis of non-melanoma skin cancer annually. Over the projected years, the rising incidence of both melanoma and non-melanoma skin cancer worldwide is anticipated to boost market revenue. Immunotherapy, targeted therapy, chemotherapy, and radiation therapy are among the available treatments for skin cancer. Among the creams used in this treatment is 5-fluorouracil cream, classified as a form of chemotherapy. However, because surgery is a more effective treatment for skin cancer, it is the preferred option.

The increasing prevalence of melanoma and non-melanoma drives the growth of the skin cancer treatment market.

The increasing prevalence of melanoma and non-melanoma has emerged as a significant driver propelling the growth and diversification of the skin cancer treatment market. The number of medications used to treat skin cancer has increased recently as a result of the disease's growing prevalence and increased public awareness. The National Library of Medicine released its most recent data in 2022, showing that 1.8 million instances of squamous cell carcinoma (SCC) and 3.6 million basal cell carcinoma (BCC) cases are diagnosed yearly in the US. It is predicted that this rise in incidence will result in a sharp increase in demand for skin cancer treatments.

In addition, the public's exposure to UV rays has increased in recent years due to the acceleration of global warming. The number of skin cancer cases has increased as a result of residents in areas where ozone depletion is more severe. The Cancer Council of Australia reports that skin cancer, which is caused by sun exposure, accounts for over 80% of all cancer cases reported in the nation each year. The group adds that the United States, the United Kingdom, and Canada have the highest rates of skin cancer. Additionally, the elderly population is particularly vulnerable to skin cancer. It is predicted that the growing elderly population in these regions will support the market's expansion.

The skin cancer treatment market is segmented based on type, therapy, and end user. Based on type, the market is divided into melanoma and non-melanoma. The skin cancer treatment market is segmented by therapy into immunotherapy, targeted therapy, chemotherapy, radiation therapy, and others. By end user, the market is segmented into mental health disorders, skin disorders, neonatal jaundice, and others. In terms of end users, the market is categorized into hospitals, dermatology clinics, diagnostic centers, and others. In terms of geography, the skin cancer treatment market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Based on geography, the skin cancer treatment market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is the most significant contributor to the growth of this market owing to a higher incidence of skin cancer in the US and the greater uptake of cancer medications in that nation. In addition, the inclination of major industry participants to introduce novel treatments for skin cancer is predicted to have a favorable impact on the expansion of the market in the area. Because non-melanoma skin cancer is more common in Caucasian populations, North America and Europe account for a large portion of the global market.

Throughout the forecast period, the market in Asia Pacific is anticipated to grow at the fastest rate. The demand for skin cancer treatments is expected to rise in the Asia-Pacific area due to the rising prevalence of both melanoma and non-melanoma in nations like Australia and New Zealand. The combination of regulatory approvals for these skin cancer medications in the Asia Pacific and the sizeable and underdeveloped market in the area's developing nations is expected to support the expansion of the skin cancer treatment market in that region. Because melanoma occurrences are rising in Europe, the market revenue is likewise expected to develop healthily during the forecast period.

Centers for Disease Control and Prevention (CDC) and Food and Drug Administration (FDA) are key primary and secondary sources referred to while preparing the skin cancer treatment market report.