Global Cholangiocarcinoma Market, By Cancer Type [Extrahepatic Cholangiocarcinoma (Perihilar, Distal), Intrahepatic Cholangiocarcinoma], By Therapy Type [Targeted Drug Therapy (Pemigatinib, Ivosidenib, Futibatinib, Infigratinib), Chemotherapy (5-Fluorouracil, Gemcitabine, Cisplatin, Capecitabine, Oxaliplatin), Immunotherapy (Pembrolizumab, and Others), and Others (Pain Medications and Others)], By Route of Administration (Oral, Subcutaneous, and Intravenous), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and E-commerce), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 423.2 Mn in 2023, and is expected to exhibit a CAGR of 20.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Disease awareness programs initiated by key market players are anticipated to drive the global cholangiocarcinoma market growth over the forecast period. For instance, on February 27, 2023, AstraZeneca, a global pharmaceutical company, announced February as the Cholangiocarcinoma Awareness Month to raise awareness about cholangiocarcinoma and gastrointestinal cancer. The company also partnered with advocacy organizations such as the Cholangiocarcinoma Foundation (CCF) to raise awareness of the gaps and hurdles in cholangiocarcinoma detection, diagnosis, and therapy and learn directly from the patient population.
Global Cholangiocarcinoma Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems regarding the transportation from one place to another.
In December 2020, an article published by CCA News discussed the management of patients with cholangiocarcinoma (CCA) as well as biliary tract cancer and gallbladder cancer. The COVID-19 pandemic posed numerous challenges in terms of clinical trial planning and conducting. Till March 26, 2020, 18 biotechnology and pharmaceutical companies reported a clinical trial disruption due to the COVID-19 pandemic. The key issue for ongoing trials was patient safety. Many clinical trial participants were susceptible to infection, and going to the clinical trial sites may be detrimental for the patient, if exposed to COVID-19. The COVID-19 pandemic posed numerous challenges in the management of CCA patients. With fewer office visits and diagnostic tests, fewer patients received timely diagnosis and treatment, which contributed to poorer outcomes. Telehealth arose as an option for physicians to stay in touch with patients and assure them of their safety and also safety of the safety of medical staffs. To conclude, the COVID-19 pandemic negatively affected the market development.
Global Cholangiocarcinoma Market: Key Developments
On February 01, 2023, the governor of Michigan, Gretchen Whitmer, declared February 2023 as Cholangiocarcinoma Awareness Month in Michigan, U.S. The State of Michigan recognized and observe the month of February as Cholangiocarcinoma Awareness Month in commemoration of all patients and caregivers impacted by the rare and lethal cancer. Foundations, research and teaching hospitals, rare cancer advocacy groups, and patient advocacy groups from around the globe have joined forces to recognize February as Cholangiocarcinoma Awareness Month.
In October 2022, Invitae, a biotechnology company, announced a strategic partnership with AstraZeneca, a global science-led biopharmaceutical company, to do a retrospective and prospective analysis of patients with cholangiocarcinoma, a rare bile duct cancer, using Invitae's Citizen natural history data. Through this collaboration, Cholangiocarcinoma Foundation (CCF), a renowned patient advocacy organization whose goal is to discover a cure and enhance the quality of life for patients who have cholangiocarcinoma, will be able to share high-quality, patient-consented data from its patient community.
In August 2021, LES Laboratoires Servier, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved TIBSOVO (ivosidenib tablets), an isocitrate dehydrogenase-1 (IDH1) inhibitor, for the treatment of advanced or metastatic cholangiocarcinoma.
In February 2021, the Cholangiocarcinoma Foundation (CCF), a non-profit organization located in Utah, U.S., partnered with Japan Cholangiocarcinoma Association (Japan). Through this partnership, both of the non-profit organizations will raise awareness about cholangiocarcinoma in individuals, and will grant funding to the academic institutes and research institutes which focused on research and development of drugs for the treatment of cholangiocarcinoma.
In June 2020, RenovoRx, a clinical-stage biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved its orphan drug designation for the treatment of bile duct cancer, also called cholangiocarcinoma with intra-arterial gemcitabine. RenovoCath, the company's proprietary FDA-cleared medical device system, uses a dual-balloon infusion catheter to enable the Trans-Arterial Micro-Perfusion (TAMPTM) technique for targeted gemcitabine delivery to the tumor site.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Cholangiocarcinoma Market”- Forecast to 2030, Global Cholangiocarcinoma Market, By Cancer Type [Extrahepatic Cholangiocarcinoma (Perihilar, Distal), Intrahepatic Cholangiocarcinoma], By Therapy Type [Targeted Drug Therapy (Pemigatinib, Ivosidenib, Futibatinib, Infigratinib), Chemotherapy (5-Fluorouracil, Gemcitabine, Cisplatin, Capecitabine, Oxaliplatin), Immunotherapy (Pembrolizumab and Others), and Others (Pain Medications and Others)], By Route of Administration (Oral, Subcutaneous, and Intravenous), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and E-commerce), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/cholangiocarcinoma-market-4435
Key Takeaways of the Global Cholangiocarcinoma Market:
- Global cholangiocarcinoma market is expected to exhibit a CAGR of 20.9% during the forecast period. The increasing prevalence of cholangiocarcinoma in emerging economies offers lucrative growth opportunities for players in the global cholangiocarcinoma market.
- Among therapy type, the targeted drug therapy segment is expected to hold the highest share in the global cholangiocarcinoma market during the forecast period, owing to rise in the number of regulatory approvals. For instance, in March 2021, QED Therapeutics, a pharmaceutical company, announced the collaboration with Helsinn Group, a privately owned pharmaceutical group with an extensive portfolio of marketed cancer care and rare disease products and a broad development pipeline. Through this collaboration, both the will co-develop and commercialize Infigratinib, an oral FGFR1-3 selective inhibitor, for treatment of patients with cholangiocarcinoma (bile duct cancer).
- Among region, North America is expected to be the dominant region in the global cholangiocarcinoma market owing to adoption of inorganic growth strategies such as facility expansion by the key market players. For instance, on May 31, 2023, Fusion Pharmaceuticals, a clinical-stage biopharmaceutical company, announced the opening of a radiopharmaceutical facility to produce targeted alpha therapies (TATs) for cancer in Hamilton, Ontario, Canada. TATs contain targeted molecules such as antibodies linked with potent alpha-emitting medical isotopes for the precise and effective triggering of cancer cell death. The limited range of alpha particles confines the radiation to the tumor site.
- The major players operating in the global cholangiocarcinoma market are BridgeBio Inc., Sanofi, Eisai Co., Ltd., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Fresenius SE & Co. KGaA, Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Incyte, TRISALUS LIFE SCIENCES, INC., GENFIT, Johnson & Johnson Private Limited, Bliss Biopharmaceuticals, Novartis AG, LES LABORATOIRES SERVIER, F. Hoffmann-La Roche Ltd, Mylan N.V. (Viatris.Inc), AstraZeneca, Compass Therapeutics, Inc, Otsuka Holdings Co., Ltd., and Senhwa Biosciences, Inc.
