Market Overview:
Gallbladder cancer is a rare type of cancer that forms in the gallbladder, a small pouchlike organ located below the liver. It arises from the epithelial lining of the gallbladder. The gallbladder stores and concentrates bile produced by the liver and released into the small intestine to help with digestion of fats. The primary symptoms of gallbladder cancer include jaundice, abdominal pain in the upper right part of the abdomen, weight loss and fatigue. Diagnosis involves ultrasound, CT scan, MRI, endoscopic retrograde cholangiopancreatography and biopsy. Surgery is the main treatment option which involves removal of gallbladder (cholecystectomy). Chemotherapy and radiation therapy are other treatment options.
The global Gallbladder Cancer Market Demand is estimated to be valued at US$ 73.6 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The major drivers contributing to the growth of the gallbladder cancer market include the increasing prevalence of gallbladder cancer and rising geriatric population which are more prone to develop gallbladder cancer. According to American Cancer Society, an estimated 15,700 new cases of gallbladder cancer occur each year in the United States. Symptoms of gallbladder cancer either do not show up until the later stages or are similar to symptoms of less serious conditions like gallstones making it difficult to diagnose at early stages. The 5-year survival rate for localized gallbladder cancer is 27%, however it drops to 5% for distant stage. The scarcity and non-specific nature of symptoms coupled with delayed diagnosis leads to poorer prognosis and survival rates. Thus early detection and diagnosis is crucial. However currently there is lack of effective screening tests for general population which if available could help improved survival outcomes.
The Asia Pacific region is estimated to be the largest and fastest growing market for gallbladder cancer owing to rapidly growing aging population and high prevalence in countries like India. Furthermore, improvement in healthcare systems and rising awareness will also contribute to market growth in the region during the forecast period.
SWOT Analysis
Strength:
- Growing research and development activities for new drug development fuels the market growth.
- Advancements in diagnostic methods enable early detection boosting the treatment rate.
- Increasing healthcare expenditure across major markets provides financial support for treatment.
Weakness:
- Lack of awareness regarding symptoms and risk factors of gallbladder cancer limit early diagnosis.
- High cost associated with treatment pose affordability issues for patients.
Opportunity:
- Emergence of targeted therapies offers lucrative prospects.
- Untapped potential in developing countries create scope for market expansion.
Threats:
- Presence of alternative treatment options hinder the market potential.
- Risk of relapse and drug resistance poses challenges.
Key Takeaways
The global Gallbladder Cancer market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing prevalence of gallbladder cancer worldwide. The market size for 2023 is US$ 73.6 Mn.
Regional analysis
North America dominates the global Gallbladder Cancer Market and is expected to grow at a CAGR of over 4% during forecast period. This is attributed to rising geriatric population, availability of advanced diagnostic technologies, and growing adoption of targeted therapies in the region. Asia Pacific represents fastest growing regional market owing to large patient pool and increasing healthcare investments.
Key players analysis
Key players operating in the Gallbladder Cancer market are Eli Lilly and Company, Bristol-Myers Squibb, Roche, Pfizer, Novartis, Merck & Co., Inc., Sanofi, AstraZeneca, AbbVie, Gilead Sciences.These companies actively focus on new drug development and acquisition strategies to gain competitive advantage in the market.
Read More: https://blogger-veritas.blogspot.com/2023/11/artificial-intelligence-is-fastest_30.html
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