Bile duct cancer, also known as cholangiocarcinoma, is a rare type of cancer that forms in the bile duct. The bile duct carries bile from the liver to the small intestine. Bile is needed for digestion. It helps the body absorb fat. Bile duct cancer treatment primarily involves surgically removing the tumor if possible, combined with chemotherapy and radiation therapy. Due to the asymptomatic nature of early-stage disease and lack of effective screening modalities, most bile duct cancers are diagnosed at an advanced stage when surgical resection is no longer an option. Hence, chemotherapy and radiation therapy play a pivotal role in palliation and improving survival outcomes. The global bile duct cancer treatment market consists of drugs used for chemotherapy such as Gemcitabine, Capecitabine, and Cisplatin. These drugs inhibit tumor cell growth or cause cell death. The rising geriatric population is more susceptible to developing bile duct cancer owing to the age-related weakening of the immune system.
The global Bile Duct Cancer Treatment 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 key trends:
One of the key trends in the bile duct cancer treatment market is the growing research in targeted therapy drugs. Targeted therapy uses drugs or other substances to identify and attack specific cancer cells without harming normal cells. Researchers are developing targeted drugs that block the activity of molecules involved in tumor growth and progression. For example, Larotrectinib is a tropomyosin receptor kinase (TRK) inhibitor approved for treating TRK fusion-positive solid tumors, which can affect a small subset of bile duct cancer patients. Immunotherapy is another area gaining momentum in treatment approaches. Drugs that help the immune system recognize and destroy cancer cells, such as immune checkpoint inhibitors, are being evaluated in clinical trials for bile duct cancer. Advances in early detection through development of sensitive diagnostic tests is also crucial to improving patient outcomes by enabling timely intervention.
Porter’s Analysis
Threat of new entrants: The bile duct cancer market has moderate threat of new entrants due to high research and development costs involved in the market.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternative treatment options for bile duct cancer.
Bargaining power of suppliers: The bargaining power of suppliers is also moderate owing to the presence of a large number of raw material suppliers.
Threat of new substitutes: The threat of new substitutes is low since there are limited treatment substitutes available for bile duct cancer currently.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of established market players.
Key Takeaways
The Global Bile Duct Cancer Market Demand is expected to witness high growth over the forecast period. The global Bile Duct Cancer Treatment 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.
North America region is expected to dominate the market owing to increasing healthcare expenditure and growing prevalence of bile duct cancer in the region. The growing healthcare infrastructure and expenditure are also supporting the market growth in the region.
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. Biffa Plc holds a major share in the market.
For more details on the report, Read- https://www.insightprobing.com/bile-duct-cancer-market-size-and-share/
