Bile Duct Cancer Market Research Report, By Type (Intrahepatic, Extrahepatic), Diagnosis (Blood Tests, Abdominal Imaging, Surgery), By Treatment (Chemotherapy, Radiotherapy), By End User (Hospital& Clinics, Academic Institutes) – Global Forecast till 2023
Bile duct cancer is a rare type of neoplasm in which epithelial cells of the bile duct are mutated and show epithelial differentiation. Bile duct cancer be diagnosed using blood tests, abdominal imaging, surgery, and others.
The Global Bile Duct Cancer Market is expected to grow at an approximate CAGR of 9.2% during the forecast period 2018-2023.
According to the National Cancer Institute, in 2014, there were an estimated 66,771 cases of intrahepatic bile duct cancer in the U.S. Moreover, the disease is expected to cause 28,920 deaths by the end of 2017 accounting for 4.8% of all cancer deaths. Death rates have been rising on average 2.6% each year over 2005-2014. Such an increasing prevalence of the bile duct cancer will boost the market during the forecast period. Moreover, rising healthcare expenditure, increasing awareness for the disease, and investments in the R&D for treatment procedures is fuelling the market growth.
However, high cost of treatment and related side effects along with low healthcare expenditures in the developing economies is expected restrain the market growth during the forecast period.
According to the Centres for Disease Control and Prevention (CDC), U.S. health care spending in 2015, reached USD 3.2 trillion or USD 9,990 per person which accounted for 17.8% of the total GDP. Moreover, the presence of the global market leaders like Pfizer Inc. and Bristol-Myers Squibb Company within the region fuels the market growth during the forecasted period.
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The key players for the global bile duct cancer market are Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Europe), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd. (Middle East), Eli Lilly and Company. (U.S.), Sanofi (Europe), Fresenius Kabi AG (Europe), Mylan N.V. (U.S.), and others.
Strategic approaches adopted help the major players in the market to sustain their growth and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.
Pfizer Inc. is an American global pharmaceutical corporation headquartered in New York City. It is among the world’s largest pharmaceutical companies. Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and neurology. Anti-malaria drugs developed by the company include Metakelfin, Camoquin and Dualkin.
- July 2017: Pfizer completed an agreement with Basilea to obtain the exclusive commercialization rights to CRESEMBA in Europe (with the exception of the Nordic countries). Since that time, Pfizer has assumed responsibility for the commercialization of CRESEMBA in Austria, France, Germany, Italy, and the United Kingdom and successfully launched CRESEMBA in Spain with additional launches expected in 2018 and beyond.
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Teva Pharmaceutical Industries ltd:
- September, 2016: Teva Pharmaceutical Industries ltd signed a multi-project alliance agreement with Cancer Research Technology Ltd. (CRT), U.K to develop first-in-class cancer drugs that modulate DNA damage and repair response (DDR) processes in cancer cells. DDR will protect cancer cells from the damaging effect of chemotherapy.
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