SEATTLE–(BUSINESS WIRE)–#Chemotherapy–According to Coherent Market Insights, the global cholangiocarcinoma market is estimated to be valued at US$ 185.4 million in 2021 and is expected to exhibit a CAGR of 12.8% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Cholangiocarcinoma Market:
Key trends in the market includes increasing prevalence of cholangiocarcinoma, which is expected to drive the global cholangiocarcinoma market growth over the forecast period. For instance, according to World Cholangiocarcinoma Day Statistics in 2016, cholangiocarcinoma was one of the most common cancers in Thailand, particularly in the north eastern part. Age standardized incidence rate shows the highest incidence in Khon Kaen, Thailand where around 84 per 100,000 males and 36 per 100,000 females were affected.
Furthermore, rising research and development activities by pharmaceutical companies is expected to aid in the growth of the global cholangiocarcinoma market. For instance, in January 2020, Sirnaomics Inc., a biopharmaceutical company, and Innovent Biologics, Inc., another biopharmaceutical company, announced their collaboration for research and development using Sirnaomics’ RNAi drug candidate STP705 (Cotsiranib) and Innovent’s antibody drug Tyvyt (Sintilimab injection) as a combination treatment in advanced cancers such as Hepatocellular Carcinomas (HCC) and Cholangiocarcinoma (CCA).
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Key Market Takeaways:
The global cholangiocarcinoma market is expected to exhibit a CAGR of 12.8% during the forecast period owing to increasing launches of new drugs and regulatory approvals for cholangiocarcinoma drug. For instance, In November 2018, Ability Pharmaceuticals announced that it received orphan-drug designation (ODD) for ABTL0812 from the U.S. Food and Drug Administration (FDA) for the treatment of biliary tract cancer, which is also called as cholangiocarcinoma.
Among treatment type, the targeted therapy segment is expected to observe highest growth in the global cholangiocarcinoma market over the forecast period, owing to the key players in the market receiving product approvals from the regulatory bodies. For instance, in April 2020, Incyte Corporation, a pharmaceutical company, received the U.S. Food Drug and Administration approval for Pemazyre (Pemigatinib), which is used for the patients who affected with Cholangiocarcinoma and are not recovered fully from the disease.
On the basis of distribution channel, hospital pharmacies segment accounts for the largest market share in the global cholangiocarcinoma market over the forecast period. For instance, according to the Spain Institute of Health Information 2018’s report, approximately 6.9 per 10,000 individuals suffering from cholangiocarcinoma were admitted in European hospitals in 2018.
On the basis of region, Asia Pacific is expected to exhibit a higher CAGR in the global cholangiocarcinoma market over the forecast period. For instance, in 2018, Innovent Biologics, Inc. and Incyte Corporation announced their strategic collaboration. Under the terms of collaborations, Incyte Corporation received the distribution rights for Pemigatinib (FGFR1/2/3 inhibitor), Itacitinib (JAK1 inhibitor), and Parsaclisib (PI3Kδ inhibitor) in China, Hong Kong, Taiwan, and other regions.
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Key players operating in the global cholangiocarcinoma market are Bio-Techne Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Shimadzu Corporation, Plexera LLC Incyte Corporation, Eisai Co., Ltd., QED Therapeutics, Inc., Agios Pharmaceuticals, Inc., RenovoRx, Ability Pharmaceuticals, Imbrium Therapeutics L.P., and Delcath Systems, Inc.
Global Cholangiocarcinoma Market, By Treatment Type:
- 5 fluorouracil (5-FU)
- Infigratinib (Phase 3)
- Ivosidenib (Phase 3)
- Pembrolizumab (Phase 3)
Global Cholangiocarcinoma Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Cholangiocarcinoma Market, By Region:
- By Country
- Rest of Latin America
- By Country
- Rest of Europe
- By Country
- South Korea
- Rest of Asia Pacific
- By Country
- Rest of Middle East
- By Country
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Senior Client Partner – Business Development
Coherent Market Insights
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