Bladder cancer is the most common malignancy involving the urinary tract system. Non-muscle invasive bladder cancer (NMIBC) refers to conditions where the cancerous growth is restricted to the inner lining layer of the bladder. NMIBC treatments include transurethral resection of bladder tumor (TURBT), intravesical immunotherapy, and chemotherapy. These treatments eliminate visible tumors and prevent recurrence. The advantages include less invasive approach compared to radical cystectomy and lower morbidity. With rise in life expectancy, geriatric population prone to urological cancers is increasing, driving the need for effective NMIBC treatments.
The global non muscle invasive bladder cancer market is estimated to be valued at US$ 342 Mn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the non muscle invasive bladder cancer market are Merck & Co., Inc.,Ferring Pharmaceuticals,Pfizer Inc.,CG Oncology,Sesen Bio, Inc. NMIBC
The key opportunities in the market include substantial research funding to develop advanced treatments and growing demand for minimally invasive procedures.
With growing cases of bladder cancer worldwide, industry players are expanding globally to address the need for accessible and affordable NMIBC therapies across all regions.
Market drivers
The rising geriatric population is the major driver for the non muscle invasive bladder cancer market. With increase in average life expectancy, the number of elderly people who are more prone to urological cancers has risen significantly. This has augmented the demand for effective NMIBC treatments over the forecast period.
PEST Analysis
Political: Regulations regarding healthcare spending and reimbursement policies will influence the demand for diagnosis and treatment of non-muscle invasive bladder cancer. Changes in regulations can impact the prices of drugs and therapies.
Economic: Growth in the healthcare sector and rising healthcare expenditures of countries will drive the NMI bladder cancer market. However, the high cost of newer therapies can restrain market growth to some extent.
Social: Growing awareness about bladder cancer diagnosis and treatment through cancer advocacy programs help patients detect the disease at an early stage. Sedentary lifestyle causing obesity is a risk factor spurring the illness.
Technological: Advancements in minimally invasive surgeries, targeted therapies, and immunotherapies have expanded treatment options and improved clinical outcomes for NMI bladder cancer patients. Further research on novel therapies holds promise.
Currently, North America accounts for the largest share of the global non-muscle invasive bladder cancer market, both in terms of value and volume. This is attributed to the rising prevalence of bladder cancer, growing geriatric population, availability of advanced healthcare facilities, and favorable reimbursement policies. Looking ahead, Asia Pacific is poised to witness the fastest growth during the forecast period due to increasing healthcare spending, large patient pool, and growing adoption of Western treatment practices in major countries.
In terms of value, LAMEA (Latin America, Middle East, and Africa) is emerging as one of the most lucrative regions for non-muscle invasive bladder cancer treatment manufacturers. Factors driving market growth include growing medical tourism in areas such as Dubai, penetration of health insurance, economic development of countries, and initiatives to modernize healthcare infrastructure. However, affordability issues remain a challenge for widespread access to advanced therapies in many African nations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.