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Bile Duct Cancer Market Is Estimated to Witness High Growth Owing to Increasing Prevalence of Bile Duct Cancer

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Gauri Cmi


Bile duct cancer is a rare disease in which malignant cells form in the bile ducts. The bile ducts are tubes that connect the liver, gallbladder and small intestine. They carry the bitter green fluid called bile that is made by the liver to help with digestion. There are two types of bile duct cancer:

- Intrahepatic bile duct cancer develops in the ducts inside the liver.

- Extrahepatic bile duct cancer develops in the ducts outside the liver.

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 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing prevalence of bile duct cancer is estimated to propel the growth of the market during the forecast period. For instance, according to GLOBOCAN 2020, there were an estimated 106,628 new cases of intrahepatic bile duct cancer and 41,418 deaths due to bile duct cancer worldwide in 2020. Moreover, another key factor responsible for growth of the market is growing research on targeted therapies to treat bile duct cancer. For example, in 2022, results from a phase 1b clinical trial reported that adding cemiplimab-rwlc, a PD-1 inhibitor, to standard chemotherapy led to improved progression-free survival in patients with advanced biliary tract cancer.

SWOT Analysis

Strength: Bile duct cancer is a rare disease with few treatment options available. This represents an opportunity for drug developers to introduce novel therapies and gain sizeable market share. Developing targeted drugs for specific patient subgroups can help address unmet needs. The increasing healthcare expenditure and adoption of advanced diagnostics are enabling early detection of bile duct cancer and improving outcomes.

Weakness: Bile duct cancer has a poor prognosis due to late stage diagnosis. This is because symptoms are usually non-specific in early stages. Developing therapies for advanced stages of the disease is challenging given the complex biology at play. High costs involved in R&D of new drugs also discourage investments.

Opportunity: The growing aging population worldwide is leading to a rise in incidences of bile duct cancer. This consistent patient pool makes for a predictable market. Novel biomarkers and diagnostic technologies can enable early identification of high-risk patients suitable for targeted therapies or enrollment in clinical trials. Collaboration with cancer centers can help recruit a greater number of suitable patients.

Threats: Other competing areas in oncology present more lucrative opportunities for drug developers who have limited resources. Failure or delays in drug development programs can negatively impact the market. Stringent regulatory norms also increase the barriers for market entry of new therapies.

Key Takeaways

Global Bile Duct Cancer Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach USD 235.9 Million by 2024 growing at a CAGR of 6.6%.

Regional analysis: North America currently dominates the Bile Duct Cancer market owing to established healthcare facilities, availability of advanced treatment options and greater awareness. Asia Pacific is expected to witness the fastest growth over the forecast period. Countries like China and India have a large patient base with high unmet needs. Rising healthcare spending in the region will boost market prospects.

Key players: Key players operating in the Bile Duct Cancer market are Gap Inc., Seraphine, Isabella Oliver., H and M Hennes and Mauritz AB., Brunelli and co. S. R. L, Mothercare, Boob Design, Pink Blush Maternity, Organic & More, and Adidas America Inc. These companies are focusing on developing targeted therapies for specific cancer subtypes and combinations with immunotherapy drugs to expand indications and improve outcomes. Partnering with research institutes enables access to advanced research capabilities and a larger patient pool for clinical trials.

 

Explore More Related Article On This Topic: https://www.ukwebwire.com/global-bile-duct-cancer-market-trends/

 

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