Bile duct cancer, also known as cholangiocarcinoma, is a rare type of cancer that forms in the bile duct. The bile duct is the tube that carries bile from the liver to the small intestine. Bile is a fluid made by the liver that helps digest fat. There are two types of bile duct cancer – intrahepatic bile duct cancer which originates within the liver and extrahepatic bile duct cancer which occurs outside the liver in the bile duct. Some common symptoms of bile duct cancer include jaundice, abdominal pain, itchy skin and weight loss. It is often diagnosed through blood tests, CT scans, MRCP and biopsy. Treatment may include surgery, radiation therapy and chemotherapy depending on the stage of cancer. The prognosis largely depends on whether it has spread beyond the bile duct by the time of diagnosis.
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 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising Diagnosis Rate (as mentioned in the heading): Advancements in diagnostic procedures like endoscopic retrograde cholangiopancreatography (ERCP), magnetic resonance cholangiopancreatography (MRCP) and positron emission tomography (PET) scans have enabled early and accurate detection of bile duct cancer. This has led to a rise in diagnosis rates globally which drives the bile duct cancer treatment market. Moreover, increased awareness about the disease symptoms and risk factors among people has also contributed to identification of cases at an early stage.
Increased Screening of High-risk Groups: Individuals with primary sclerosing cholangitis, gallstones, liver flukes or history of inflammation of pancreas have an elevated risk of developing bile duct cancer. Regular screening of such high-risk population helps detect the disease at an early stage when treatment yields better outcomes. This factor is further propelling the market growth.
Segment Analysis
The bile duct cancer market is dominated by the chemotherapy sub segment which accounts for nearly 45% share of the overall market. Chemotherapy drugs such as Gemcitabine and Cisplatin are commonly used for treating bile duct cancer as they act as the first line treatment for this type of cancer. These drugs help in slowing down the growth and spread of cancer cells in the body and provide better control over the disease. The radiotherapy sub segment is another major segment and is expected to witness steady growth owing to increasing applications of radiotherapy techniques such as external beam radiation therapy and internal radiation therapy (brachytherapy) for bile duct cancer treatment.
PEST Analysis
Political: Government initiatives aimed at increasing cancer awareness and screening are boosting early detection of bile duct cancer. However, lack of health insurance in developing nations poses significant challenge.
Economic: Rising healthcare spending globally is driving the market. However, high cost of cancer treatment drugs remains a key restraint.
Social: Growing geriatric population prone to developing various cancer types augurs well for the market. However, social stigma associated with cancer in certain regions is hampering adoption.
Technological: Advancements in radiation oncology techniques such as SBRT and proton beam therapy are helping improve outcomes. Developments in genomics are also supporting personalized cancer treatment approaches.
Key Takeaways
The Global Bile Duct Cancer Market Size is expected to witness high growth during the forecast period of 2023 to 2030. 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 5.5% over the forecast period 2023 to 2030.
Regional analysis
North America currently accounts for over 40% share of the global bile duct cancer market owing to rising geriatric population and favorable reimbursement policies in the region. The Asia Pacific region is anticipated to emerge as the fastest growing market in the coming years supported by enhancing healthcare infrastructure, growing penetration of advanced diagnostic techniques, and rising awareness regarding cancer treatment options.
Key players
Key players operating in the bile duct cancer market are Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd, Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environment, and Waste Management Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
