Bile Duct Cancer Therapeutics Market - Global Industry Size, Growth and Demand, 2023
The global bile duct cancer therapeutics market is expected to witness noticeable growth, in the near future, owing to increasing awareness about cancer and advancements in technologies for cancer treatment. Also, the increasing incidence of cancer is driving the bile duct cancer therapeutics market, globally.
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Bile duct cancer is also known as cholangiocarcinoma. It involves the presence of mutated epithelial cells originated in the bile ducts. However, the cause of bile duct cancer (cholangiocarcinoma) is not certain. There are some factors that can increase the chances of developing bile duct cancer (cholangiocarcinoma). The most common symptoms of bile duct cancer (cholangiocarcinoma) include abdominal pain, abnormal liver function, generalized itching, weight loss, discoloration of stool and urine, etc. The risk factor of bile duct cancer (cholangiocarcinoma) include liver fluke infections, cholangitis and exposure to thorium dioxide. According to American Society of Clinical Oncology (ASCO), less than 3,000 people are affected with the disease, every year, in the U.S. Also, according to Cancer Research UK, about 1,600 people are affected by the disease, every year, in the U.K. The existing treatment options for bile duct cancer (cholangiocarcinoma) are mainly dominated by generics and off-label drugs, and provide only symptomatic relief. The bile duct cancer treatment market has significant unmet need, due to the safety profiles and inadequate efficacy of the existing market products. Therefore, the market offers vast potential for novel participants that can introduce drugs, which could reverse or halt the disease progression and simultaneously, offer good safety profiles and high efficacy.
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Due to availability of various chemotherapeutic agents for bile duct cancer (cholangiocarcinoma) therapeutics, the market for chemotherapeutic agents is expected to contribute larger revenue to the global bile duct cancer therapeutics market. Innovative bile duct cancer (cholangiocarcinoma) therapeutics are likely to enter into the market, during the forecast period (2017-2023).
Geographically, North America has been the largest market for bile duct cancer therapeutics. The growth of the regional market can be attributed to adequate reimbursement policies, greater awareness toward health care and advanced healthcare facilities. The Asia-Pacific and European markets for bile duct cancer therapeutics are projected to record strong CAGRs, over the forecast period.
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Some of the key players in the global bile duct cancer therapeutics market include, Johnson & Johnson Services, Inc., Dispomedica GmbH, W. L. Gore & Associates, Inc., Boston Scientific Corporation, InSitu Technologies Inc., OptiMed Medizinische Instrumente GmbH, Pauldrach medical Handels- und Vertriebs GmbH, and Medtronic Plc, among several others.
