Market Overview:
Gallbladder cancer is a rare type of cancer that forms in the gallbladder, a small organ located beneath the liver. The main symptoms are pain in the upper right or middle abdomen, weight loss and jaundice. Surgery is the only treatment that can cure gallbladder cancer if it is caught early before it spreads. It aims to remove the gallbladder completely along with some surrounding tissues and nearby lymph nodes.
Market key trends:
One of the key trends in the gallbladder cancer market is growing research in targeted therapies. Several targeted therapies are currently being evaluated in clinical trials for treatment of advanced gallbladder cancer. For example, Eli Lilly’s ramucirumab, a drug that targets vascular endothelial growth factor receptor 2 (VEGFR2), is under phase III clinical trial. Ramucirumab has shown promising results in improving progression-free survival and overall survival in preliminary studies. Such ongoing research and development of novel targeted therapies is expected to bring more treatment options and drive the growth of the gallbladder cancer market during the forecast period.
The global Gallbladder Cancer Market Demand is estimated to be valued at US$ 73.6 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
One of the key trends in the gallbladder cancer market is the increasing geriatric population. With age being the strongest risk factor for gallbladder cancer, the rising elderly population globally is expected to drive the prevalence of gallbladder cancer. According to the United Nations, the number of people aged 60 years or older is expected to double from 12% to 22% between 2015 and 2050. This will positively impact the demand for diagnosis and treatment of gallbladder cancer.
SWOT Analysis
Strengths:
– Growing research & development funding for gallbladder cancer therapies.
– Increasing approval of novel drug candidates.
Weaknesses:
– Lack of awareness about gallbladder cancer symptoms.
– Late diagnosis leading to poor prognosis.
Opportunities:
– Emergence of targeted therapies and immunotherapies.
– Scope for development of combination therapies.
Threats:
– High cost of treatment.
– Strong competition from alternative treatment options.
Key Takeaways
The global gallbladder cancer market size was valued at US$ 73.6 Mn in 2023 and is expected to reach US$ 113.5 Mn by 2030. The growth is attributed to the increasing prevalence of gallbladder cancer cases driven by the growing geriatric population.
Regional analysis:
North America is expected to dominate the gallbladder cancer market during the forecast period. This is owing to well-established healthcare facilities, higher awareness about gallbladder cancer, and increasing healthcare spending in the region. Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period. Rapidly developing economies, rising healthcare expenditure, and a growing patient pool in China and India will boost the market in Asia Pacific.
Key players:
Major players operating in the gallbladder cancer market include Eli Lilly and Company, Bristol-Myers Squibb, Roche, Pfizer, Novartis, Merck & Co., Inc., Sanofi, AstraZeneca, AbbVie, Gilead Sciences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
