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Cholangiocarcinoma Treatment Market Segmented By Product Type that is Gemcitabine, Cisplatin, Capecitabine, Oxaliplatin with Treatment Type such as Drug Therapy, Radiation Therapy and Surgery
Cholangiocarcinoma also known as biliary tract cancer, the malignant tumor arises from bile duct this is heterogeneous and rare malignant cancer. Cholangiocarcinoma is more prone to old age population after long standing inflammation in the biliary system this occurs due to biliary stones, chronic parasitic infection, and chronic inflammatory conditions.
According to the National Cancer Institute incidence rate of intrahepatic bile duct cancer 100,000 people in the United States. The death rate of Cholangiocarcinoma is 4.8%. Moreover, the prevalence of Cholangiocarcinoma and the growing demand for combination therapy is expected to increase the demand for Cholangiocarcinoma treatment.
The factors which driving the Cholangiocarcinoma treatment market are due to increase in the incidence and prevalence of Cholangiocarcinoma worldwide. . In addition, cancer screening program for control and prevention of Cholangiocarcinoma, increased awareness of public and private sector funding, high health care costs are the factors that contribute to the growth of the cholangiocarcinoma treatment market.
Higher adaption of chemotherapy and surgical procedures of patients in developed countries also contributing to market growth over the forecast period. Furthermore, advanced and cost effective cholangiocarcinoma surgical procedure by healthcare facility is anticipated to growth in cholangiocarcinoma treatment market over the forecast period.
Moreover, improved quality of cholangiocarcinoma treatment will increase the therapeutic demand in the market. Beside, technological advancement in the cancer therapies, collaboration between cancer research centers and pharmaceutical companies for product development is a major driver of the cholangiocarcinoma treatment market
However, the growth of Cholangiocarcinoma treatment market is hamper due to cost of treatments and limited reimbursement facilities in developing countries. Moreover, Due to side effect associate with chemotherapy treatment of Cholangiocarcinoma decrease the adaption rate of Cholangiocarcinoma treatment.
Additionally stringent health regulation approval is expected hamper the Cholangiocarcinoma treatment market growth to some extent. However, the time consuming clinical trials to approving new drugs as well as high cost of cancer treatment may disrupt the Cholangiocarcinoma treatment market drug market. This are some factors hinder the growth of Cholangiocarcinoma treatment market.
However, COVID-19 pandemic will have a negative on the Cholangiocarcinoma treatment market. Due to lockdown and fear of COVID-19 patient statistic is decreased. Moreover short term shutdown of pharmaceutical plants hamper the production Cholangiocarcinoma drugs during. This factors will hamper the demand for Cholangiocarcinoma treatment market.
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Based on the segmentation, by Product Type 5-fluorouracil (5-FU) are expected to dominate the Cholangiocarcinoma treatment market due to disease prevalence. Furthermore, based on the end user, Hospitals are show prominent growth due rising adoption rate of the drug therapy and radiation therapy by various hospitals
Geographically, North America is holding significant market share in the global Cholangiocarcinoma treatment market due to rising prevalence Cholangiocarcinoma and adaption of Cholangiocarcinoma treatment. Europe is the second leading region in the Cholangiocarcinoma treatment market due to government initiative towards screening programs and reimbursement facilities. Asia pacific will show significant growth in the Cholangiocarcinoma treatment market due to rising prevalence of Cholangiocarcinoma and increase demand of Cholangiocarcinoma treatment.
Some of the major key players competing in the global Cholangiocarcinoma treatment market are Delcath Systems Inc., Kyowa Hakko Kirin Co Ltd, Sanofi, Johnson & Johnson Services Inc, Novartis AG, Mylan N.V., Teva Pharmaceuticals Industries Ltd., F. Hoffman-La Roche AG, Fresenius Kabi AG, Accord Healthcare Inc., Bristol-Myers Squibb Company, Celgene Corporation, Pfizer, Inc., And Eli Lilly and Company.
The key players operating in the Cholangiocarcinoma treatment market follow various promotional strategies such as development of new and advanced products and partnerships with other companies to boost the market consolidation activities.