The growth of bile duct cancer treatment market stems from rising incidence of bile duct cancer, as the average age of the world population increases. In the U.S., half the population is expected to be older than 65 years by 2060. The steady rate at which the world population is ageing is an inevitable factor for concomitant trend of chronic conditions. According to estimates of the World Health Organization, by 2050, 57% of the population in the world will have one or more chronic illness. Mostly, chronic inflammation in the body is related to bile duct cancer, hence, rise in the average age of the world population susceptible to chronic inflammation is predicted to account for rise in incidence of bile duct cancer.
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Improved diagnostics spells Growth
Meanwhile, significant growth of the global healthcare industry and improved healthcare facilities has positively influenced the diagnostic segment as well. This has enabled timely and easier diagnosis of bile duct cancer, and successful treatment of afflicted cases. As a result, the overall bile duct cancer market is predicted to benefit from this trend.
Clinically, bile duct cancer is the cancer of the biliary system. The biliary system is present under the liver and produces waste bile as part of the body’s normal recycling processes. In the geriatric population, long standing inflammation in the biliary system develops into bile duct cancer. This opens opportunities for bile duct cancer treatment market.
At the competitive front, a number of key vendors in the medicare sector are vying to enter the bile duct cancer market. Key players in the bile duct cancer treatment market include Johnson & Johnson, Celgene Corp, Pfizer Inc., Sanofi, Merck & Co. Inc., Boston Scientific Corporation, Bayer AG, Bristol-Myers Squibb, F.Hoffmann-La Roche Ltd., Novartis AG, and ConMed Corporation.
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