Bile Duct Cancer Therapeutics Market Scope
The global Bile Duct Cancer Therapeutics Market size is anticipated to grow at a 9.2% CAGR during the forecast period. Bile duct cancer is a rare type of cancer in which malignant tumor cells form in the bile duct. It is also known as cholangiocarcinoma. Factors which can cause the condition are abnormalities in the bile duct, long-term inflammation of the liver, and infection with liver fluke parasite. The global Bile Duct Cancer Therapeutics Market report compiled by Market Research Future (MRFR) focuses on the medical condition, drug developments, and other pertinent factors and challenges for the period between 2018 and 2023 (forecast period).
The number of cases detected with bile duct cancer is the primary driver of the bile duct cancer therapeutics market. According to the National Cancer Institute, close to 66,771 people were detected with this rare form of cancer in 2014 in the United States. This disease is accountable for close to 4.8% of all cancer deaths. Rise in healthcare expenditure, awareness of the disease, and heavy investments in R&D can fuel the market growth. Technological developments in the healthcare sector which can improve the diagnosis rate of machines and assist in early prevention are opportunities for players in the market.
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High costs of treatment and lack of reimbursement policies in developing economies covering the condition can impede the market growth.
Bile Duct Cancer Therapeutics Market Segmentation
The global Bile Duct Cancer Therapeutics Market is segmented based on types, diagnosis, treatment, and end users.
Based on types, the bile duct cancer therapeutics market is segmented into extrahepatic, intrahepatic, and others.
Based on diagnosis, the bile duct cancer therapeutics market is segmented into abdominal imaging, surgery, blood tests, and others. The diagnosis segment by abdominal imaging is sub segmented into magnetic resonance cholangiopancreatography (MRCP), endoscopic retrograde cholangiopancreatography (ERCP), percutaneous transhepatic cholangiography (PTC), and others.
Based on treatment, the bile duct cancer therapeutics market is segmented into radiotherapy, chemotherapy, and others. The chemotherapy segment is sub segmented into cisplatin,5-fluorouracil, gemcitabine, and others.
Based on end users, the bile duct cancer therapeutics market is segmented into research organizations, hospital &clinics, academic institutes, and others.
Bile Duct Cancer Therapeutics Market Regional Analysis
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are regions forming the center of interest in the global Bile Duct Cancer Therapeutics Market report.
The Americas dominated the global Bile Duct Cancer Therapeutics Market owing to the well-developed healthcare sector. Large volume of patients and allocation of healthcare expenditure in nations in the region can bolster the regional market demand. According to the CDC, healthcare spending in the U.S. has reached USD 3.2 trillion.
Europe is the second largest region of the market due to a huge patient pool and large availability of funds for research. The APAC Bile Duct Cancer Therapeutics Market can grow at a rapid pace due to a large patient pool, developing economies such as China and India, and huge growth opportunities due to ongoing medical tourism.
The MEA region can display a poor growth rate during the forecast period due to low healthcare infrastructure and lack of reimbursement policies.
Bile Duct Cancer Therapeutics Market Competitive Outlook
Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Mylan N.V., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sanofi, Fresenius Kabi AG, and others are prominent players of the global Bile Duct Cancer Therapeutics Market.
The Rwandan government has decided to unveil its Rwanda Cancer Center which can be a boon for the citizens venturing outside the country for its diagnosis.
BridgeBio Pharma, a U.S. pharmaceuticals company, has been granted the Fast Track and Orphan designation for Infigratinib, an oral inhibitor of fibroblast growth factor receptors (FGFRs). The phase-3 clinical trial and its successive results will be released in 2021.
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