Global Bile Duct Cancer market, by Treatment Type (Chemotherapy (Gemcitabine, Cisplatin, Oxaliplatin, Capecitabine and 5 fluorouracil (5-FU), Targeted Therapy (Pemigatinib, Infigratinib (Phase 3), and Ivosidenib (Phase 3), Immunotherapy (Pembrolizumab (Phase 3) and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 185.4 million in 2021 and is expected to exhibit a CAGR of 12.8% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of bile duct cancer is expected to drive the growth of the global bile duct cancer market. According to World Cholangiocarcinoma Day Statistics in 2016, cholangiocarcinoma is one of the most common cancers in Thailand, particularly in the north eastern part. Age standardized incidence rate shows the highest incidence in Khon Kaen, Thailand – around 84 per 100,000 in males and 36 per 100,000 in females.
Furthermore, According to the American Society of Clinical Oncology (ASCO) report 2019, approximately 8,000 people in the U.S. were diagnosed with bile duct cancer in 2019
Global Bile Duct Cancer market- Impact of Coronavirus (Covid-19) Pandemic
The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe such as the U.S., U.K., and India has impacted the financial status of businesses in all the sectors. The private healthcare sector is the one which is majorly impacted by the pandemic.
The lockdowns in various countries have created an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety of patients with other diseases, and declining outpatient’s visits, among others.
Moreover, the pandemic has negatively impacted the development, production, and supply of drugs. This has led to closure of industrial establishments and disruption in supply chain of products, except manufacturing of essential commodities..
Supply chain and manufacturing activities in India, China, the U.S., and others have been disrupted due to global lockdowns. Whereas, countries such as Thailand, Indonesia, Singapore, and others are facing problems with transportation of drugs and medications.
Browse 26 Market Data Tables and 27 Figures spread through 184 Pages and in-depth TOC on “Bile Duct Cancer market”- Global Forecast to 2028, by Treatment Type (Chemotherapy (Gemcitabine, Cisplatin, Oxaliplatin, Capecitabine, and 5 fluorouracil (5-FU), Targeted Therapy (Pemigatinib, Infigratinib (Phase 3), and Ivosidenib (Phase 3), Immunotherapy (Pembrolizumab (Phase 3), and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Bile Duct Cancer market, click the link below:
Factors such as increasing approval of drugs by regulatory authority for the treatment of bile duct cancer is expected to drive the market growth.
For instance, in 2020, Incyte Corporation, a pharmaceutical company, announced that Health Canada (a public health agency of Canadaccepted it’s New Drug Submission (NDS) for pemigatinib, a selective fibroblast growth factor receptor (FGFR) inhibitor, as a treatment for adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with FGFR2 fusion or other rearrangement.
Key Takeaways of the Global Bile Duct Cancer market:
- The global bile duct cancer market is expected to exhibit a CAGR of 12.8% over the forecast period, owing to increasing adoption of inorganic growth strategies by market players such as acquisitions and agreements. For instance, in January 2021, Servier, a global pharmaceutical company, announced the acquisition of Agios, Pharmaceuticals company’s commercial, clinical, and research-stage oncology portfolio which includes Tibsovo (ivosidenib tablets) for treatment of Cholangiocarcinoma and others.
- Among treatment type, chemotherapy segment is expected to account for the largest market share in 2021, owing to the increasing technological advancements in chemotherapy by the key players for the treatment of cholangiocarcinoma (bile duct cancer). For instance, in August 2020, RenovoRx, a medical device company, announced that it had received Orphan Drug Designation by the U.S. Food Drug and Administration for RenovoCath, a novel intra-arterial device of gemcitabine (Gemzar), for the treatment of patients with cholangiocarcinoma (CCA).
Key players operating in the global bile duct cancer market include Incyte Corporation, Eisai Co., Ltd., QED Therapeutics, Inc., Agios Pharmaceuticals, Inc., RenovoRx, Ability Pharmaceuticals, Imbrium Therapeutics L.P., and Delcath Systems, Inc.