Market Challenges And Opportunities
Global Cholangiocarcinoma Market - Drivers
- Increasing inorganic growth strategies: Key players operating in the market are focusing on inorganic growth strategies such as purchase agreements for cholangiocarcinoma treatment which is expected to drive the global cholangiocarcinoma market growth over the forecast period. For instance, in October 2022, Sagard Healthcare, a multi-strategy alternative asset management firm, announced the acquisition of Agios Pharmaceuticals, Inc’s (a pharmaceutical company), rights of TIBSOVO. TIBSOVO is an oral, targeted therapy approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with an isocitrate dehydrogenase-1 (IDH1) mutation with acute myeloid leukemia (AML) or cholangiocarcinoma (bile duct cancer).
- Approvals of new drugs by regulatory authorities: Key market players are engaged in receiving approvals from regulatory authorities which is expected to drive the global cholangiocarcinoma market growth over the forecast period. For instance, in April 2020, Incyte, a biopharmaceutical company, announced that the U.S. FDA had approved Pemazyre (pemigatinib), a kinase inhibitor indicated for the treatment of adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with a FGFR2 fusion or other rearrangement detected by an FDA-approved test. Pemazyre was granted under accelerated approval based on overall response rate and duration of response (DOR) and is the first and only FDA-approved therapy for this indication.
Figure 2. Global Cholangiocarcinoma Market Share (%), By Region, 2023
Restraints & Challenges:
- High cost of cholangiocarcinoma treatment
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