Intensifying number of bile duct cancer cases being diagnosed globally have fortified the need for cutting-edge solutions in terms of procedure and medicines to treat the condition. Market reports associated with the healthcare sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to develop at an increasing CAGR of 9.2 percent in the forecast period.
The mounting level of spending being devoted to research for the treatment of bile duct cancer is positively contributing to increasing the market share globally. This has allowed the development of pioneering procedures to treat this form of cancer apart from the traditional solution involving chemotherapy. Additionally, factors such as growing healthcare expenses and mounting awareness for the disease are projected to boost the progress of the market in the forecast period.
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Segmental Analysis
The market for bile duct cancer is segmented on the basis of treatment, types, diagnosis, and end users. By diagnosis, the market is segmented into abdominal imaging, blood tests, surgery, and others. The segment of abdominal imaging is sub-segmented into percutaneous transhepatic cholangiography (PTC), magnetic resonance cholangiopancreatography (MRCP), endoscopic retrograde cholangiopancreatography (ERCP), and others. By end users, the market is segmented into academic institutes, hospital & clinics, research organizations and others. By types, the market is segmented into extrahepatic, intrahepatic, and others. By treatment, the market is segmented into radiotherapy, chemotherapy, and others. The chemotherapy segment is sub-segmented into gemcitabine, cisplatin, 5-fluorouracil, and others.
Detailed Regional Analysis
The Americas region leads the bile duct cancer market globally due to a well-developed healthcare sector. The growing number of patients, growing healthcare spending has improved the growth of the market in the Americas. The European region is the next principal market, which is trailed by the Asia Pacific region. The accessibility of funds for research, enormous patient population and government backing for development and research motivates the European market. The Asia Pacific region is the fastest rising region for the market owing to the continuously developing economies like India and China, and occurrence of good opportunities in the market. On the other hand, the MEA region has the smallest share in the market owing to the presence of poor economy particularly in the Africa region. However, a majority of the market in this region is held by the Middle East owing to a well-developed healthcare sector and increasing healthcare spending.
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Competitive Analysis
The important success factors in the market are easily attained in the market leading to an elevated pace of progress in the forecast period. The extended feasibility of the market is exceedingly dependent on the techniques and the strategic roadmaps that are engaged by market players. The enhanced level of importance on the variation of products is growing the number of customers in the market considerably. The innovation in products and services of the markets will modify the progression of the market noticeably. The market appeal and competitors’ tendencies are prominently improved by the strategies that are being exploited by market players. The market is meaningfully impacted by the developments that are happening in the market. The effective incorporation of supply chain management is progressively enhancing the expansion of the market.
The established contenders in the market are Fresenius Kabi AG (Europe), F. Hoffmann-La Roche Ltd (Europe), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd. (Middle East), Pfizer Inc. (U.S.), Sanofi (Europe), Eli Lilly and Company. (U.S.), Mylan N.V. (U.S.), and others.
Industry Updates:
Jun 2018 Researchers at Northwestern University have 3D printed a mini-tissue that mimics a bile duct. As the cancer of the bile duct entails that the disease is diagnosed early on enough for the afflicted part of the bile duct to be removed, this solution offers a favorable alternative.
April 2018 PCI Biotech which is a Norwegian drug maker has seen hopeful results from its bile duct cancer study before the start of a key second phase. By making the fimaCHEM platform which combines light-based, photochemical technology with its fimaporfin drug, PCI intends to treat patients who have inoperable tumors.
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