Dublin, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The "Bile Duct Cancer Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region" report has been added to ResearchAndMarkets.com's offering.
The global bile duct cancer treatment market is expected to witness robust growth between 2024 and 2031. However, the market faces significant challenges, primarily driven by cost-related factors.
Rising Incidences of Bile Duct Cancer in North America
Bile duct cancer and liver cancer cases have seen a concerning increase in North America in recent years. It is estimated that approximately 6,000 individuals are diagnosed with bile duct cancer each year in the United States. Alarmingly, the majority of those affected fall within the age group of 70 to 75 years.
Bile Duct Cancer Treatment Market Dynamics
Advancements in endoscopic imaging techniques and minimally-invasive high-tech stone retrieval products have emerged as key drivers for the growth of the pancreatic and bile duct stone management market. This segment is expected to witness a double-digit CAGR in the coming years.
A notable observation is that Asians are more prone to contracting bile duct cancers compared to non-Hispanic blacks and whites. Currently, the primary line of therapy for bile duct cancers involves chemotherapy, and it is expected to maintain the largest market share in the foreseeable future as alternative treatment methods take time to gain acceptance.
The U.S. Food and Drug Administration (FDA) has initiated accelerated approvals to expedite the introduction of these therapies into the bile duct cancer treatment market, aiming to provide patients with faster access to treatments.
Cost as a Restraining Factor
One significant factor restraining the growth of the Bile Duct Cancer Treatment Market is the cost associated with cancer treatment. The American Society of Clinical Oncology has highlighted a significant disparity in cancer treatment costs between developed and developing countries. Furthermore, restrictions on importing prescription medicines into the United States from foreign countries exacerbate the issue.
These price disparities are likely to hinder the Bile Duct Cancer Treatment Market in the United States. While medical tourism has thrived in Asian economies such as India, Singapore, and Malaysia, the COVID-19 pandemic has imposed travel restrictions, impacting this avenue for affordable treatment.
Competitive Landscape
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. These companies play a pivotal role in advancing treatment options and addressing the challenges faced by the market.
Market Segmentation
The Bile Duct Cancer Treatment Market is segmented based on various attributes to provide a comprehensive understanding of the market dynamics and opportunities. The key segments include:
Treatment Type:
- Gemcitabine Combination Therapy: Treatment involving the use of gemcitabine in combination with other medications.
- 5-fluorouracil Combination Therapy: Treatment involving the use of 5-fluorouracil in combination with other medications.
- Capecitabine Combination Therapy: Treatment involving the use of capecitabine in combination with other medications.
- Gemcitabine Single Agent: Treatment with gemcitabine as a single therapeutic agent.
Services Spending:
- Radiation Therapy: Treatment involving radiation therapy techniques.
- Brachytherapy Services: Treatment involving brachytherapy techniques.
- External Beam Radiation Therapy (EBRT): Treatment involving external beam radiation therapy techniques.
- Surgery: Surgical interventions for the treatment of bile duct cancer.
Disease Indication:
- Intrahepatic Bile Duct Cancer: Cancer located within the liver's bile ducts.
- Extrahepatic Bile Duct Cancer: Cancer located outside the liver's bile ducts.
- Perihilar Bile Duct Cancer: Cancer occurring at the perihilar region of the bile ducts.
- Distal Extrahepatic Bile Duct Cancer: Cancer occurring at the distal end of the extrahepatic bile ducts.
Distribution Channel:
- Hospital Pharmacies: Pharmaceuticals distributed through hospital-based pharmacies.
- Retail Pharmacies: Pharmaceuticals available at retail pharmacies.
- Online Pharmacies: Pharmaceuticals accessible through online platforms.
Region:
- North America: Includes the United States and Canada.
- Latin America: Encompasses countries in Central and South America.
- Europe: Comprises European countries.
- Asia Pacific (APAC): Covers countries in the Asia Pacific region.
- Middle East Africa (MEA): Encompasses countries in the Middle East and Africa.
Companies Profiled:
- Pfizer, Inc.
- F. Hoffman-La Roche AG
- Bristol-Myers Squibb Company
- Teva Pharmaceuticals Industries Ltd.
- Eli Lilly and Company
- Novartis AG
- Sanofi
- Fresenius Kabi AG
- Mylan N.V.
- Kyowa Hakko Kirin Co Ltd.
- Intercept Pharmaceuticals, Inc.
- Accord Healthcare Inc.
- Delcath Systems Inc.
- Celgene Corporation
- Johnson & Johnson.
For more information about this report visit https://www.researchandmarkets.com/r/vwtxhb
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