New York City, NY, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Persistence Market Research(PMR) forecasts the global bile duct cancer treatment market to grow from about US$ 168 Mn in 2017 to about US$ 312 Mn by 2025 end. This represents a CAGR of 8% over the forecast period 2017 – 2025. The global bile duct cancer treatment market represents absolute dollar opportunity of US$ 12.5 Mn in 2018 over 2017 and incremental opportunity of US$ 144.2 Mn between 2017 and 2025.
Cancer is the leading cause of death worldwide, and the proportion of cancer deaths around the world increased from 12% in 1990 to 15% in 2015. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% new cancer cases expected to be reported over the next 20 years. Incidence of liver cancer and bile duct cancer in North America has increased dramatically in the past few years. According to the cholangiocarcinoma foundation, about 6,000 people suffer from bile duct cancer every year in the United States. In the U.S, the average age of people diagnosed with cancer is between 70 and 75.
Bile duct cancer is highest among Asians and Hispanics as compared to non-Hispanic whites and blacks. The mortality rate in men is slightly higher than women suffering from bile duct cancer. The incidence rate of cholangiocarcinoma in Canada is 0.35 per 100,000 population and the number of cases are likely to increase due to a sedentary lifestyle, exposure to chemicals, and bile duct infections. Each cancer type requires advanced treatments. An increasing prevalence of cancer and the need for combination therapies is expected to increase the demand for chemotherapy - based treatments as a first line of therapy. This is likely to provide significant opportunities for players to conduct clinical trials to establish the therapeutic efficacy and launch their products in this market.
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When it was identified that adequate drugs for rare disorders were not being developed in the U.S., the Congress passed the Orphan Drug Act in 1983, to incentivize companies to develop drugs for individuals with rare and neglected diseases, such as those intended for the diagnosis, prevention, and treatment of disorders that affect fewer than 200,000 people in the U.S. In April 2017, RedHill Bio was granted the orphan drug designation to its drug candidate YELIVA (ABC294640) for the treatment of cholangiocarcinoma. In August 2015, Array BioPharma reported that FDA granted the orphan drug designation to its drug candidate, varlitinib — an oral, novel pan-HER inhibitor for the treatment of bile duct cancer. In July 2015, Delcath Systems reported that FDA granted the orphan drug designation to its drug candidate melphalan for the treatment of patients with bile duct cancer. Several drug candidates have been designated as orphan drugs to gain accelerated approval and it also allows the company to benefit from a seven year marketing exclusivity, if approved for the particular indication. The FDA undertakes an accelerated approval process to bring these therapies to the market faster and make them available for patients in need.
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The cost of cancer treatment in the US is extremely high as compared to lower income countries. According to a study by the American Society of Clinical Oncology in Chicago, it was revealed that the cost of cancer drugs are lower in Africa and India. United States follows its own economic model for the prices of cancer drugs. In the U.S law, the importation of prescription medicines from foreign countries is forbidden. According to Canadian government's Patented Medicine Prices Review Board, the consumers in United States pay 100% more than anywhere else in the country for patented drugs. The average monthly prices for generic drugs in the Unites States is ~US$ 654 compared to US $160 in India and $125 in Africa. Chemotherapy in the United States costs ~ US$ 70K per year, while in India it costs about US$ 2500 per year. According to a study published by the Institute of Medicine, in the past 50 years from 1965 to 2013, the monthly cost of cancer drug therapy has increased almost 100 times. The regulations in the United States place a heavy burden on patients and results in the discontinuation of the treatment in 20% of the patients. Due to high costs, patients seek to undertake treatment in low income countries through medical tourism.
APAC dominated the global bile duct cancer treatment market in terms of revenue in 2016 and the trend is projected to continue throughout the forecast period. APAC is the most attractive regional market, with a market attractiveness index of 2.5 over the forecast period. Revenue from the APAC market is anticipated to exhibit a CAGR of 9% during 2017-2025 to reach US$ 146 Mn by the end of 2025. The risk of liver fluke infections in most parts of Asia Pacific is the cause of increasing incidences of bile duct cancer. The North America market is expected to be the second most lucrative market in the global bile duct cancer treatment market, with an attractiveness index of 1.0 during the forecast period. Revenue from the Europe market is anticipated to register a CAGR of 6.4% over 2017-2025 to reach US$ 34.5 Mn by the end of the forecast period.
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