The global Cholangiocarcinoma Market Growth Accelerated by Increasing Prevalence

 


Cholangiocarcinoma is a rare and aggressive cancer that forms in the bile ducts. The tumor is difficult to treat and has poor prognosis. Early diagnosis of cholangiocarcinoma is challenging as symptoms are vague in early stages. Advances in diagnostic imaging techniques aid in accurate diagnosis. Growing geriatric population and rising risk factors such as primary sclerosing cholangitis are contributing to the increasing prevalence of cholangiocarcinoma.

The global Cholangiocarcinoma Market is estimated to be valued at US$ 7,275.7 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends
Increasing prevalence of cholangiocarcinoma due to aging population and environmental factors is one of the major trends driving the growth of the market. It has been reported that more than 80% of cholangiocarcinoma patients are above 55 years of age. Furthermore, industrial chemicals and alcoholic beverages have been found to increase the risk of bile duct cancer. In developing countries undergoing industrialization and urbanization, the number of risk factors like contamination of drinking water sources are on the rise. This is expected to contribute significantly to the growing prevalence of cholangiocarcinoma globally over the forecast period. Development of biomarkers for early diagnosis and treatment will further accelerate the market growth in coming years.

Segment Analysis
The global cholangiocarcinoma market is dominated by the intrahepatic cholangiocarcinoma sub-segment due to the high prevalence rate of the disease arising from intrahepatic bile ducts. Factors such as rising incidences of liver diseases, obesity etc are contributing to the high prevalence of intrahepatic cholangiocarcinoma which forms 60-70% of all cholangiocarcinoma cases globally.

Key Takeaways
The global Cholangiocarcinoma Market is estimated to be valued at US$ 7,275.7 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.

The Asia Pacific region is expected to witness the highest growth in the global cholangiocarcinoma market during the forecast period due to rapidly developing healthcare infrastructure and rising incidences of liver diseases like hepatitis and cirrhosis in densely populated countries like China and India. This is contributing to the highest number of cholangiocarcinoma cases being reported from the Asia Pacific region currently.

Key players:
Key players operating in the cholangiocarcinoma market are Johnson & Johnson Services, Inc., Cooper Companies Inc., Lifecell Corporation (Allergan Plc), W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG, Becton, Dickinson and Company, Medtronic Plc, Cook Medical Inc., Baxter International Inc., and B. Braun Melsungen AG.

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