Costing Holding the Bile Duct Cancer Treatment Market back?
As per Persistence Market Research, the global bile duct cancer treatment market is expected to witness a CAGR of over 9% between 2020 and 2030.
Cancer is amongst the leading cause of fatalities across the globe. The WHO states that cancer accounts for close to 8.3 Mn deaths every single year. It further states that around 70% novel cases of cancer are expected to get registered over the subsequent 2 decades. Incidences of bile duct cancer and liver cancer has increased at an alarming rate all over North America in the last few years. Around 6,000 people contract bile duct cancer every single year in the US. Moreover, majority of cancer-affected people in the US fall between 70 and 75 years of age.
Bile Duct Cancer Treatment market: What’s Happening?
Advancements all over endoscopic imaging techniques with minimally-invasive high-tech stone retrieval products are amongst the key drivers to growth of pancreatic and bile duct stone management market. It is, in fact, expected to witness a double-digit CAGR in the years to come.
Perihilar bile duct cancers, better known as “Klarskin tumors”, are formed from where the hepatic duct branches do leave liver. More than 60% of the plethora of bile duct cancers fall in the category of perihilar bile duct cancers.
Asians are found to contact bile duct cancers in greater proportion as compared to non-Hispanic blacks and whites. In the current scenario, the very first line of therapy comprises “chemotherapy”. This sector is expected to hold the largest market share in the years to come as well, as it will take some time for people to accept the other lines of treatment for bile duct cancers.
Since the passage of Orphan Drug Act in 1983, the treatments for bile duct cancers have picked up speed. RedHill Bio, in Apr 2017, was given the orphan drug designation to drug candidate “YELIVA (ABC294640) for treating bile duct cancers (also known as cholangiocarcinoma). The US FDA has undertaken the process of accelerated approvals for bringing these therapies to the bile duct cancer treatment market at a faster pace, so as to make the patients feel comfortable.
“Cost” factor to restrain the Bile Duct Cancer Treatment Market
The American Society of Clinical Oncology states that there is a yawning gap between cancer treatment costs in the developed and developing countries. Moreover, the US, importing prescription medicines from the foreign countries is not allowed. Also, Patented Medicine Prices Review Board of the government of Canada states that people in the US end up paying more than 100% than any of their counterparts for patented drugs.
These variations in prices are likely to hinder the bile duct cancer treatment market in the US. Though medical tourism is flourishing in the Asian economies like India, Singapore, Malaysia, the outbreak of Covid-19 has imposed travel restrictions. This scenario is expected to remain unchanged atleast till the end of the year 2020. The start of the year 2021 is expected to bring in the new guidelines regarding international travel. The market is expected to witness a major overhaul therein.
The Major Market Participants
The key players in the bile duct cancer treatment market include ConMed Corporation, Bristol-Myers Squibb, Johnson & Johnson, Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Pfizer, Inc., Celgene Corp, Bayer AG, and Boston Scientific Corporation.
The report ‘Bile Duct Cancer (Cholangiocarcinoma) Treatment Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)’ is a comprehensive compilation on the bile duct cancer treatment market and contains exclusive information regarding the market analysis, growth and forecasts for the period 2017 to 2025. Bile ducts are a series of thin tubes that reach from the liver to the small intestine. The major function of bile ducts is to move a fluid called bile from the liver and gallbladder to the small intestine, where it helps digest the fats in food. Bile duct cancer starts when the healthy cells in the bile duct begin to grow out of control to form tumors. Cancer can develop in any part of the bile duct system and can be classified into three types based on the location -
Intrahepatic bile duct cancers: These cancers develop in the smaller bile duct branches inside the liver from the left and right hepatic branches. About 5% to 10% of bile duct cancers are intrahepatic.
Extrahepatic cholangiocarcinoma: These cancers develop in the part of the bile duct that is outside the liver. These are of two types:
Bile duct cancer is a type of biliary tract cancer, which also includes gall bladder cancer; however gall bladder cancer is not included in the scope of this report, which largely focuses on intrahepatic bile duct tumors, perihilar bile duct tumors, and distal bile duct tumors.
This report is divided into four distinct parts. The first section consists of the introduction to the bile duct cancer treatment market. The second section of the report consists of the regional bile duct cancer treatment market analysis and forecast. The third section contains the competitive landscape of the global bile duct cancer treatment market and gives a list of the important players operating in this niche market. The last section of the report consists of the global bile duct cancer treatment market analysis 2012-2016 and forecast 2017-2025 by region, by treatment type, by disease indication and by distribution channel.
In the introduction, the pertinent market numbers of the global bile duct cancer treatment market are given along with the CAGR for the forecast period 2017-2025. The introduction also contains an executive summary of this detailed report through which the report audiences can have a cursory glance at this vast market. The report also contains detailed definitions of bile duct cancer and its different types along with the definitions of the various kinds of treatments administered in cases of bile duct cancer. In addition, the introduction also lists the macroeconomic factors influencing the global bile duct cancer treatment market. An opportunity analysis of the global bile duct cancer treatment market is also presented in the introduction. Along with this, the regulatory scenarios of various regions in the global bile duct cancer treatment market are also listed. Also, a list of products that are in the pipeline for the treatment of bile duct cancer is also given in the introduction.
The second section of the report contains the regional bile duct cancer treatment market analysis and forecast. In this section, the regional drivers, restraints and trends are given so that the report audience knows what factors are aiding the growth of this market and what factors are hampering the growth of this market across the various assessed regions. Besides the drivers and restraints, the trends that are applicable in the global bile duct cancer treatment market are also discussed region-wise in this section of the report.
An important section of the report focuses on the competitive landscape of the global bile duct cancer treatment market. This part constitutes information on the key market players. This competition landscape gives a dashboard view of the key companies operating in the global bile duct cancer treatment market along with their important information and broad strategy adopted to stay as leaders in the global bile duct cancer treatment market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented.
The last section of the report contains the global bile duct cancer treatment market analysis and forecast as well as important market metrics such as the BPS analysis, year-on-year growth rates, absolute dollar opportunity and market attractiveness analysis of the bile duct cancer treatment market.
Why should you invest in this report?
If you are ready to enter the global bile duct cancer treatment market, then this report is a comprehensive guide and will give you crystal clear insights into this vast and lucrative market. All the aspects of bile duct cancer treatment are covered in this report and information is also given on the important regions of the world where this market is likely to boom in the near future and during the forecast period of 2017-2025 so that you can plan your strategies accordingly. Besides, through this report, you can gain a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, then this report will help you gauge the strategies that your competitors have adopted to stay as leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
A tested and proven research methodology for accurate estimation of market performance
Our research methodology leverages both primary and secondary research to collect the relevant market data. We have analyzed the global bile duct cancer treatment market by considering the revenue through extensive primary research to understand the usage patterns, historic trends, problems faced by oncologists, the required treatment developments, and most preferred drugs. Key opinion leaders have been considered for primary research including experienced healthcare professionals in various healthcare facilities at a country level. These estimates have further been validated with drug manufacturers, distributors, and suppliers.
Extensive secondary research has been carried out to understand the epidemiology of bile duct cancer, treatment rate, adoption rate, regulatory scenarios, average selling price, reimbursement scenario, etc., by referring to published scientific literature from various databases such as the WHO, PubMed, Springer, and Wiley among many others. We have also analyzed various companies’ annual reports_bk_01_01_2020, investor presentations, SEC filings, 10k reports_bk_01_01_2020, and press releases to fetch substantial information about the market size, trends, opportunities, drivers, and restraints.