The bile duct cancer market comprises drugs for treating bile duct cancer or cholangiocarcinoma. Bile duct cancer drugs help improve the overall survival and quality of life of patients. With rising incidence rates of bile duct cancer globally, the demand for effective treatment options is increasing.
The global bile duct cancer market is estimated to be valued at US$ 235.9 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased research and development activites is one of the key trends driving the bile duct cancer market growth. Several pharmaceutical companies are investing heavily in clinical trials to develop novel targeted therapies and immunotherapies for bile duct cancer. For instance, Incyte Corporation is developing a PD-L1 inhibitor named retifanlimab for treating advanced bile duct cancer and other solid tumors. Positive results from ongoing phase 2 clinical trials can capture a sizeable market share and accelerate the revenue growth of companies. Furthermore, rising approval of new drugs will expand treatment options and support market growth over the forecast period.
Segment Analysis
The global bile duct cancer market is dominated by the chemotherapy sub-segment. Chemotherapy being an effective treatment for bile duct cancer and high success rates have made it the preferred choice of treatment among medical practitioners and patients. It is effective in both early and advanced stages of bile duct cancer helping destroy any remaining cancer cells post surgery.
Key Takeaways
The Global Bile Duct Cancer Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is anticipated to grow at a CAGR of 12% during the forecast period and reach a value of US$ 520.9 Mn by 2030.
Regional analysis
North America dominates the global bile duct cancer market currently. Availability of advanced healthcare facilities and high awareness regarding early diagnosis are some key factors contributing to the large share of the region. Asia Pacific is expected to witness the fastest growth over the forecast period. Growing geriatric population, improving healthcare infrastructure and increasing healthcare expenditure are expected to boost market growth in the region.
Key players
Key players operating in the bile duct cancer market are Incyte Corporation, Eisai Co., Ltd., QED Therapeutics, Inc., Agios Pharmaceuticals, Inc. These companies are focusing on developing innovative treatment options to improve outcomes for patients. Incyte Corporation's Pemigatinib is a selective FGFR inhibitor being evaluated in ongoing clinical trials for bile duct cancer. Eisai Co., Ltd. is engaged in research on Erdafitinib which acts on FGFR.
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https://healthcarelatesteditionnews.blogspot.com/2023/12/the-global-bile-duct-cancer-market.html
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