Bile duct cancer, also known as cholangiocarcinoma, is a rare type of cancer that forms in the bile duct. The bile duct is a tube that carries bile from the liver and gallbladder to the small intestine. Bile helps with digestion by breaking down fats. Bile duct cancer is difficult to detect in its early stages because it grows slowly over many years and does not cause obvious symptoms. As the cancer grows, it can block the flow of bile from the liver and cause yellowing of skin and eyes. Effective treatment options like surgery, radiation therapy and chemotherapy are available to treat bile duct cancer but it has poor survival rates compared to other cancers as it spreads rapidly.
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 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising incidence of bile duct cancer across the globe is the major driver of the bile duct cancer market. For instance, according to the American Cancer Society, in the United States approximately 8,000 new cases of bile duct cancer are diagnosed each year, with the disease being more common in the older age group. Additionally, risk factors of bile duct cancer like liver fluke infections, primary sclerosing cholangitis, and congenital diseases of the liver or bile ducts are also increasing significantly which is contributing to market growth over the forecast period. Advanced diagnostic techniques and targeted drug therapies being developed by key market players for accurate diagnosis and effective treatment of bile duct cancer are further fueling the market growth.
Strength: Bile duct cancer is a rare type of cancer with limited treatment options available. This provides an opportunity for new drug development.
Weakness: Low disease awareness and limited research funding are challenges for this market. The complex anatomy and functions of the bile duct also make treatment very difficult.
Opportunity: Growing geriatric population prone to bile duct cancer presents a potential patient population. Increasing healthcare expenditure in developing countries can boost market growth.
Threats: Strong pipeline of competing oncology drugs can divert attention and resources away from bile duct cancer. Lower treatment response rates are a concern.
Global Bile Duct Cancer Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
North America is expected to dominate the global bile duct cancer market during the forecast period. This is attributed to growing incidence of bile duct cancer, rising healthcare spending, and fast uptake of new drugs in the region. The market in Asia Pacific is poised to witness the highest growth owing to increasing patient pool, improving access to diagnosis and treatments, and rising healthcare expenditure in countries such as China and India.
Key players operating in the bile duct cancer market are Gap Inc., Seraphine, Isabella Oliver., H and M Hennes and Mauritz AB., Brunelli and co. S. R. L, Mothercare, Boob Design, Pink Blush Maternity, Organic & More, and Adidas America Inc. These leading companies are focusing on developing novel therapies through collaborations and acquisitions to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it