Gallbladder Cancer Market Poised to Exhibit High Growth due to the Increasing Prevalence of Gallbladder Cancer
Gallbladder cancer, also known as cholangiocarcinoma, is a rare type of cancer that forms in the gallbladder, a small organ that sits beneath the liver. The gallbladder stores and concentrates bile produced by the liver to help digest fats. Symptoms of gallbladder cancer may include abdominal pain, feeling of fullness after eating, weight loss, and yellowing of the skin and eyes (jaundice). Gallbladder cancer treatments include surgery to remove the gallbladder (cholecystectomy), radiation therapy, chemotherapy, targeted therapy, immunotherapy and participation in clinical trials.
The global Gallbladder Cancer Market is estimated to be valued at US$ 1,607.47 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: Increasing Prevalence of Gallbladder Cancer
The increasing prevalence of gallbladder cancer across the globe is expected to propel the growth of the market over the forecast period. Gallbladder cancer is more common in women than in men. Risk factors for gallbladder cancer include gallstones, obesity, alcohol consumption, tobacco smoking, and diabetes. According to the American Cancer Society, gallbladder cancer represents about 1% of all cancer cases in the United States. An estimated 12,820 Americans (7,210 women and 5,610 men) will be diagnosed with gallbladder cancer in 2023. The rising incidence of gallbladder cancer owing to changing lifestyle and risk factors is expected to drive the demand for gallbladder cancer treatment and fuel market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to the requirement of large investments, high costs for R&D and clinical trials. Bargaining power of buyers: The bargaining power of buyers is moderate as there are few treatments available for gallbladder cancer with a specific focus on improving the survival rates. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of alternative suppliers and requirements. Threat of new substitutes: The threat of new substitutes is moderate as the focus is on developing new drugs and combination therapies with minimal adverse effects. Competitive rivalry: The competitive rivalry is high among the key players to gain higher market share.
SWOT Analysis
Strength: Increased research activities for developing novel targeted therapies. Rising awareness regarding early diagnosis and treatment. Weakness: Low survival rates even after complete surgical removal of gallbladder. Lack of symptoms in early stages making diagnosis difficult. Opportunity: High unmet medical needs. Emerging economies providing scope for market growth. Threats: Stringent regulations for drug approval. High costs associated with R&D and clinical trials.
Key Takeaways
The global Gallbladder Cancer Market is expected to witness high growth during the forecast period of 2023-2030. The increasing prevalence of gallbladder cancer worldwide coupled with growing research for treatment options is expected to boost the market growth.
Regional analysis: North America is currently dominating the global gallbladder cancer market and is expected to maintain its lead during the forecast period as well. This is attributed to factors such as rising incidence of gallbladder cancer, presence of key players, developed healthcare infrastructure, and high healthcare expenditures. Asia Pacific is projected to witness fastest growth in the coming years. This growth is attributed to the large patient pool, rising awareness regarding cancer, improving healthcare infrastructure in emerging countries like China and India.
Key players operating in the Gallbladder Cancer market are Histogen Inc., Cipla Limited, Aclaris Therapeutics, Inc., Merck & Co., Inc., Daiichi-Sankyo Co., Ltd., Johnson and Johnson Services, Inc., Lexington International LLC, Vita-Cos-Med Klett-Loch GmbH, PureTech, Vitabiotics, Dr. Reddyâ€TMs Laboratories, HCell Inc., Follica, Inc. and Ranbaxy Laboratories Ltd. The key players are focusing on developing advanced targeted therapies and immunotherapy drugs for treatment of gallbladder cancer.
