The urothelial cancer drugs market studied was projected to grow with a CAGR of 15.5% over the forecast period. The major factors that are boosting the market growth are the emergence and popularity of targeted therapy and rise in incidence of urothelial cancer.
Urothelial cancer is the ninth most common malignancy in the world, with approximately 2.5 million patients and 420,000 newly diagnosed cases each year. Approximately 59% of bladder cancer cases occur in developed regions. The disease has the highest lifetime cost of care per patient among all tumors in the United States, due to its high relapse rate and invasive lifelong monitoring, including cystoscopy follow-ups.
As per the statistics released by World Cancer Research Fund International, Bladder cancer is the tenth most common cancer worldwide and there were almost 550,000 new cases in 2018. Lebanon is the country with the highest number of bladder cancers for the year.
In addition, the urothelial cancer drugs market is likely to be benefitted from better therapies being approved by prominent drug regulatory organizations. Several novel treatments are predicted to see approvals, further supporting the growth of the market.
Key Market Trends
Chemotherapy Under the Treatment Type is Expected to Witness the Fastest Growth Over the Forecast Period
The chemotherapy segment is expected to dominate the market by treatment type, as the drugs may be used alone or in combination, depending on the purpose of its usage. Chemotherapy also finds application in treating invasive cancer and reducing the rate at which it spreads. Adjuvant chemotherapy and neoadjuvant chemotherapy are generating most of the revenue in the market, owing to an alarming rise in cases of bladder cancer and the rising uptake of chemotherapy to treat the same.
According to Cancer Research United Kingdom, there were around 10,200 new bladder cancer cases every year, which is about 28 every day. Incidence rates for bladder cancer in the United Kingdom were highest in people aged 85 to 89. The rising prevalence of cancer is boosting the segment growth.
North America Dominates the Market and Expected to Follow the Same Trend Over the Forecast Period
The North American region has been dominating the urothelial cancer drugs market, due to factors, such as the presence of a large target population, increased adoption of novel therapeutics, and multiple product launches, along with a rising need to tackle bladder cancer.
The American Cancer Society’s estimates for bladder cancer in the United States for 2020 are about 81,400 new cases of bladder cancer and about 17,980 deaths from bladder cancer. With the large number of bladder cancer cases, increased awareness in the society and healthcare facilities with good distribution channels are some of the important factors, which makes the market in the region to grow well over the forecast period.
The urothelial cancer drug market is expected to grow at a rapid pace in the next couple of years with intense competition among the players and a rising number of cases. Nimble players are already seen taking the collaboration route for the development of therapies and drugs, which would likely make the urothelial cancer drugs market crowded with new products in the next couple of years.
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