The Global Bile Duct Cancer Market is expected to grow at an approximate CAGR of 9.2% during the forecast period 2018-2023.
Bile duct cancer or cholangiocarcinoma is a form of cancer in which epithelial cells are mutated, i.e., they show epithelial differentiation in the bile duct. It is a type of rare neoplasm. According to the National Cancer Institute, in 2014, there were an estimated 66,771 people living with liver and intrahepatic bile duct cancer in the United States. Moreover, the disease is expected to cause 28,920 deaths by the end of 2017 accounting for 4.8% of all cancer deaths.
Rates for new liver and intrahepatic bile duct cancer cases have risen by an average 2.7% each year over the last 10 years. Death rates have been estimated to have risen by an average of 2.6% each year over 2005-2014. Such an increase in the prevalence of bile duct cancer has boosted the market. Additionally, rising healthcare expenditures, increasing awareness for the disease and investments in the R&D for treatment procedures is fuelling the market further. However, high cost of treatment and related side effects along with low healthcare expenditures in the developing economies is expected to restrain the market during the forecasted period.
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The key players for the global bile duct cancer market are Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Europe), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd. (Middle East), Eli Lilly and Company. (U.S.), Sanofi (Europe), Fresenius Kabi AG (Europe), Mylan N.V. (U.S.), and others.
Strategic approaches adopted help the major players in the market to sustain their growth and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.
Pfizer Inc. is an American global pharmaceutical corporation headquartered in New York City. It is among the world’s largest pharmaceutical companies. Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and neurology. Anti-malaria drugs developed by the company include Metakelfin, Camoquin and Dualkin.
July 2017: Pfizer completed an agreement with Basilea to obtain the exclusive commercialization rights to CRESEMBA in Europe (with the exception of the Nordic countries). Since that time, Pfizer has assumed responsibility for the commercialization of CRESEMBA in Austria, France, Germany, Italy, and the United Kingdom and successfully launched CRESEMBA in Spain with additional launches expected in 2018 and beyond.
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Teva Pharmaceutical Industries ltd:
September, 2016: Teva Pharmaceutical Industries ltd signed a multi-project alliance agreement with Cancer Research Technology Ltd. (CRT), U.K to develop first-in-class cancer drugs that modulate DNA damage and repair response (DDR) processes in cancer cells. DDR will protect cancer cells from the damaging effect of chemotherapy.
The Americas dominates the global bile duct cancer market owing to a well-developed healthcare sector. Apart from this, increasing number of patients, increasing healthcare expenditure have boosted the growth of the market in the Americas. According to the Centers for Disease Control and Prevention, U.S. health care spending in 2015, reached $3.2 trillion or $9,990 per person which accounted for 17.8% of the total GDP.
Europe is the second largest bile duct cancer market, which is followed by Asia Pacific. Availability of funds for research, huge patient population and government support for research & development drives the European market.
Asia Pacific is the fastest growing region for the market due to the presence of a huge patient population, continuously developing economies like India and China, and presence of huge opportunity in the market. According to Indian Brand Equity Fund, the per capita healthcare expenditure in India is estimated to grow at a CAGR of 5% during 2008-15 and reach USD 68.6 by 2015.
On the other hand, the Middle East & Africa has the least share in the global bile duct cancer market due to the presence of poor economy especially in Africa region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
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