New York, May 11, 2023 (GLOBE NEWSWIRE) -- Several cutting-edge cancer treatments available all over the world and a rising need for innovation in cancer treatments led the global non-muscle invasive bladder cancer therapeutics market to reach a value of US$ 2.2 billion in 2022, and the market is projected to expand rapidly at a CAGR of 14.8% over the forecast period (2023 to 2033). Non-muscle Invasive Bladder Cancer Therapeutics Market is forecasted to reach US$ 9.8 billion by the end of 2033.
Innovation in cancer treatment modalities is being monitored by academic institutions, biopharmaceutical firms, and various healthcare system stakeholders globally. The efficiency of novel cancer treatments depends on the difficulty and length of each regulatory process, as well as manufacturers' filing of registration applications in each country. 62 novel cancer medications have been introduced in the United States over the past five years, some of which have received approval for several indications.
The idea of switching to molecularly targeted medications or immunotherapies instead of conventional chemotherapy--which has historically been the basis of first-line treatment for advanced malignancies--has a lot of appeal because they promise improved efficacy and enhanced quality of life. Emerging from the research and development pipeline are several creative medicines that are frequently used in conjunction with brand-new or current cancer medications. Many pharmaceutical corporations are funding oncology research initiatives to provide cutting-edge cancer treatments. This, together with consumers' increasing preference for biologics and biosimilars, is anticipated to fuel market expansion.
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The number of projects has increased as a result of increased financing for cancer research and investments in anticancer medications. Governments, the private sector, and businesses are the main sources of research and development spending. All these factors will boost global demand for non-muscle invasive bladder cancer therapeutics over the coming years.
Key Takeaways from Market Study
- The global non-muscle invasive bladder cancer therapeutics market is projected to reach US$ 9.8 billion by 2033.
- Low-grade bladder cancer held a market share of 69.8% in 2022.
- Chemotherapy drugs accounted for a market share of 45.2% in 2022.
- Hospital pharmacies accounted for 46.4% share of the market in 2022.
- Revenue from non-muscle invasive bladder cancer therapeutics in the United States reached US$ 922.3 million in 2022.
“During the projected period, the market for therapeutics for non-muscle invasive bladder cancer is expected to be positively impacted by an increase in contract research and contract manufacturing activities aimed at producing new cancer treatments,” says an analyst at Persistence Market Research.
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Market Competition
Important Key Players are Pfizer Inc., Merck KGaA, AstraZeneca PLC, Roche Holding AG (Genentech), Astellas Pharma Inc., J&J (Janssen Biotech), Cipla Inc., Amneal Pharma, Bristol Myers Squibb Co., Dr. Reddy’s Laboratories, Inc., Gilead Sciences Inc., Endo Pharma, UroGen Pharma, Inc., Teva Pharmaceuticals (Actavis), Hikma Pharmaceuticals, Incyte and more
Manufacturers of cancer therapeutic drugs are taking steps to develop cost-effective products in response to growing competition and increasing expectations from consumers. These initiatives include increasing research and development expenses through clinical partnerships.
- Merck KGaA announced a new oncology clinical partnership between Darmstadt and Nektar Therapeutics in September 2021.
- In July 2019, Hikma Pharmaceuticals PLC expanded its Cisplatin Injection, 1mg/mL in 50mL and 100mL vials, in the United States through its subsidiary in the country.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the non-muscle invasive bladder cancer therapeutics market in its latest study, presenting a historical demand assessment for 2012 to 2022 and projections for 2023 to 2033.
The research study is based on
- cancer grade (low-grade bladder cancer, high-grade bladder cancer),
- drug type (immunotherapy {Bacillus Calmette-Guerin, Avelumab, Nivolumab, Pembrolizumab, and Others},
- chemotherapy {Mitomycin C, Docetaxel, Paclitaxel, Cisplatin, others),
- targeted therapy {Erdafitinib, Enfortumab Vedotin-ejfv, Sacituzumab Govitecan, others}),
- distribution channel (hospital pharmacies, retail pharmacies, specialty pharmacies, online pharmacies),
- across seven key regions of the world.
For additional insights on how the growth of the non-muscle invasive bladder cancer therapeutics market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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