Rising Demand for Targeted Therapies in the Biliary Tract Cancer Market
Author : ajay abc | Published On : 22 Jan 2025
The biliary tract cancers market comprises the detection and treatment of cancers in the bile ducts and gallbladder. The cancers originate in the cells that line the bile ducts and gallbladder. Early symptoms are often vague and mimicking other problems which delay diagnosis.
Common symptoms include jaundice, abdominal pain, itching, weight loss and loss of appetite. Biliary Tract Cancers (BTCs) Market are typically diagnosed through imaging tests like ultrasound, CT scan and MRI, which are able to detect masses or enlarged lymph nodes. Treatment depends on the stage of the cancer and may involve surgery, chemotherapy, radiation therapy or targeted therapy medications.
The biliary tract cancers (BTCs) market is estimated to be valued at USD 0.822 billion in 2024 and is expected to reach USD 1.196 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Key Takeaways
- Key players operating in the biliary tract cancers market are Johnson & Johnson, Intercept Pharmaceuticals, Novartis, F. Hoffmann-La Roche and Bristol-Myers Squibb.
- Rising awareness campaigns about biliary tract cancers symptoms and risk factors by cancer institutes is resulting in increased diagnosis rate globally. According to studies, early detection can improve the five-year survival rate to over 30%.
- Technological advancements like magnetic resonance cholangiopancreatography (MRCP) allow high resolution imaging of biliary tract without radiation exposure. Development of targeted therapies is also improving treatment outcomes.
Market Trends
- Increasing preference for minimally invasive surgeries: Laparoscopic and robotic surgeries are becoming more common compared to open surgeries as they provide faster recovery and less post-operative complications.
- Personalized medicine approach: Biomarker development and companion diagnostics are helping deliver personalized treatment protocols based on individual patient's genetic profile and tumor characteristics.
Market Opportunities
- Developing countries: Asia Pacific region provides significant growth opportunity owing to rising healthcare investments, large patient population and growing medical tourism.
- Combination therapies: Combining immunotherapies with chemotherapies holds potential to improve survival rates compared to monotherapies alone. Clinical trials are ongoing to evaluate various combination regimens.
Impact of COVID-19 on Biliary Tract Cancers Market Growth
The COVID-19 pandemic has severely impacted the growth of the global biliary tract cancers market. With the imposition of nation-wide lockdowns worldwide, there has been a significant decrease in biliary tract cancer screening and diagnosis rates in 2020. Hospitals shifted their focus towards handling rising COVID-19 cases, which led to postponement of non-emergency medical procedures and outpatient visits. This negatively affected the early detection of biliary tract cancers. Social distancing norms also discouraged people from visiting healthcare facilities even for other critical illnesses for the fear of contracting coronavirus infection in hospitals.
With vaccination drives ramping up in 2021, the market is expected to rebound from the losses of the previous year. Healthcare systems have learnt to cope with COVID-19 patients while continuing other medical services with proper safety protocols. This is enabling biliary tract cancer patients to resume their treatment journeys without delay. Telehealth and telemedicine are also complementing physical consultations. However, the after-effects of delayed screening and diagnoses in 2020 is anticipated to reflect in the biliary tract cancers market in the form of advanced stage cases presenting for the next 2-3 years.
Geographical Regions with High Biliary Tract Cancers Market Value
North America accounts for the largest share of the global biliary tract cancers market in terms of value, estimated at around 40% in 2019. This can be attributed to factors such as the rising geriatric population vulnerable to biliary tract cancers, widespread health insurance coverage facilitating early detection, and heavy investments in developing advanced diagnostic and therapeutic solutions in the US and Canada. The region is also at the forefront of clinical trial research for innovative biliary tract cancer treatments, which drives the market value.
The Asia Pacific region is projected to witness the fastest growth during the forecast period due to the rapidly growing patient population and healthcare sector across densely populated countries such as China and India. Rising healthcare expenditures, increasing public awareness about diseases, and improvements in diagnostic infrastructure are fueling the demand.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
