Bile duct cancer is a rare type of neoplasm in which epithelial cells of the bile duct are mutated and show epithelial differentiation. In 2014, according to the National Cancer Institute, there were an estimated 66,771 cases of 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. Death rates have been rising on average 2.6% each year over 2005-2014. Such an increasing prevalence of the bile duct cancer will boost the market during the forecasted period. Moreover, rising healthcare expenditures, increasing awareness for the disease and investments in the R&D for treatment procedures is fuelling the market. However, high cost of treatment and related side effects along with low healthcare expenditures in the developing economies is expected restrain the market during the forecasted period.
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Regional Analysis
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. Moreover, the presence of the global market leaders like Pfizer Inc. and Bristol-Myers Squibb Company within the region fuels the market growth during the forecasted period.
Europe is the second largest bile duct cancer market. 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.
The Middle East and Africa contribute the least in the growth of global bile duct cancer market. The Middle East dominates the market for The Middle East and Africa. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East market. Africa holds the least share of the global bile duct cancer market due to limited availability of medical facilities, poor economic condition and rigid government policies
Key Players
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.
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Segmentation
The global bile duct cancer market is segmented on the basis of types, diagnosis, treatment, and end user.
On the basis of types, the market is segmented into intrahepatic, extrahepatic, and others.
On the basis of diagnosis, the market is segmented into blood tests, abdominal imaging, surgery, and others. The diagnosis segment by abdominal imaging is sub segmented into endoscopic retrograde cholangiopancreatography (ERCP), percutaneous transhepatic cholangiography (PTC), magnetic resonance cholangiopancreatography (MRCP), and others.
On the basis of treatment, the market is segmented into chemotherapy, radiotherapy, and others. The chemotherapy segment is sub segmented into 5-fluorouracil, gemcitabine, cisplatin, and others.
On the basis of end users, the market is segmented into hospital &clinics, academic institutes, research organizations and others.
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