Technological Advancement in the Health Care Sector Drives the Global Bile Duct Cancer Market
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The global bile duct cancer market is driven by increase in prevalence of bile duct cancer patients across the globe, technological advancement in the health care sector, and rise in health care expenditure in developed countries. In addition, new research and development by pharmaceutical companies for availability of affordable treatment through extensive research is a major driver of the market. However, high cost associated with clinical trials and long duration in approvals of drugs acts as major barriers for the market growth.
The global bile duct cancer market has been categorized based on treatment type, type of cancer, end-user, and region. Based on treatment type, the global market is segmented into surgery, chemotherapy, and radiation therapy. Surgery treatment includes surgical removal of bile ducts, partial hepatectomy, and in severe cases Whipple procedure and liver transplantation. The chemotherapy segment can be sub-segmented into 5-fluorouracil, gemcitabine, capecitabine, oxaliplatin, cisplatin, and combined drug treatment. Factors such as availability of a wide range of chemotherapeutics agents for treatment of bile ducts cancer and ongoing innovative research work on improvement of chemotherapy by studying new drugs and new combination of drugs through clinical trials are anticipated to boost the market growth of the chemotherapy segment during the forecast period.
Based on type of cancer, the market is segmented into intrahepatic bile duct cancer and extrahepatic bile duct cancer. The formation of cancer inside bile duct within liver is termed as intrahepatic bile duct cancer. Extrahepatic bile duct is made up of the hilum region and the distal region. Based on location, the extrahepatic bile duct cancer is sub-segmented into perihilar bile duct cancer and distal extrahepatic bile duct cancer. On the basis of end-user, the market is segmented into hospitals, clinics, and others.
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Geographically, the global market for bile duct cancer is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Cancer is one of the leading causes of death in developed nations. North America holds a significant share of the bile duct cancer market, followed by Europe, due to advanced discoveries and innovations for treating cancer in early stages. Major factors driving the North America market are rise in incidence of bile duct cancer, ongoing research in the field of oncology, advance health care facilities, and improvement in government reimbursement policies. Asia Pacific and Middle East are lucrative markets owing to increase in incidence of bile duct cancer patients. Liver flukes infection in the bile duct is very common in developing countries. This is one of the leading causes for the increase in number of bile duct cancer patients in these regions.
Major players operating in the global bile duct cancer market include Johnson & Johnson, Bayer AG, Celgene Corp, Bristol-Myers Squibb, Pfizer, Inc., F. Hoffmann-La Roche Ltd., Sanofi, Novartis AG, Merck & Co., Inc., ConMed Corporation, and Boston Scientific Corporation.
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