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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bile duct cancer arises from the cells that form the bile ducts. It occurs either inside or outside the liver. The bile ducts carry bile from the liver to the small intestine. Bile helps the body digest fat. Symptoms of bile duct cancer often do not appear until the disease is advanced and may include jaundice, abdominal pain, weight loss, and itchy skin. Bile duct cancer is usually treated through surgery but other treatments include radiation therapy and chemotherapy.
Market key trends:
Rising prevalence of bile duct cancer is expected to drive the market growth over the forecast period. For instance, according to the American Cancer Society, in 2022 approximately 9,070 people (5,720 men and 3,350 women) in the U.S. will be diagnosed with bile duct cancer and approximately 3,830 people (2,300 men and 1,530 women) will die of bile duct cancer. Furthermore, increasing research funding for development of novel drugs and therapies for treatment of bile duct cancer is also expected to support the market growth during the forecast period.
SWOT Analysis
Strength: Bile duct cancer is quite rare with early detection opportunities. Advances in diagnostic methods like MRI help in early detection.
Weakness: Limited treatment options are available for bile duct cancer. Surgery being the only cure but many patients are not eligible for surgery due to disease extent.
Opportunity: Active research in immunotherapy and targeted therapy areas provide opportunities for more effective treatment options.
Threats: Late diagnosis poses serious threat. Factors like obesity are increasing the risk of bile duct cancer.
Key Takeaways
The Global Bile Duct Cancer Market Size is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing research funding and initiatives for rare cancers.
Regional analysis: North America dominated the bile duct cancer market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to increasing healthcare expenditure and presence of major players in the region. However, Asia Pacific region is expected to be the fastest growing market due to growing cancer incidence, increasing awareness and improving healthcare infrastructure in the region.
Key players operating in the Bile Duct Cancer market are Incyte Corporation, Eisai Co., Ltd., QED Therapeutics, Inc., Agios Pharmaceuticals, Inc., RenovoRx, Ability Pharmaceuticals, Imbrium Therapeutics L.P. and Delcath Systems, Inc. These key players are focusing on expanding their product portfolios through mergers & acquisitions and collaborations with universities and research institutes for the development of advanced treatment options. For instance, in 2022, QED Therapeutics licensed the global rights to QED-515 from Novartis to expand its rare tumor portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
