Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 09, 2024 (GLOBE NEWSWIRE) -- The global bladder cancer therapeutics market(방광암 치료제 시장) stood at US$ 271.4 million in 2023, and the global market is projected to reach US$ 456.3 million in 2034. The global bladder cancer therapeutics market is anticipated to expand at a CAGR of 4.8% between 2024 and 2034.
A notable trend in the bladder cancer therapeutics market is the surge in the adoption of immunotherapy. Immuno-oncology treatments, such as immune checkpoint inhibitors, are gaining traction due to their ability to enhance the body's immune response against cancer cells.
There is a growing focus on personalized medicine, where treatments are tailored based on the genetic profile of individual patients. This trend is supported by advancements in genomic testing and molecular diagnostics, which enable more precise and effective therapeutic strategies.
The ascending incidence of bladder cancer, particularly among the aging population, is a primary driver. Improved diagnostic techniques and greater awareness are leading to earlier detection and increased treatment rates. Furthermore, substantial investments in research and development by pharmaceutical companies are resulting in the introduction of novel therapies and drug approvals, enhancing treatment options and outcomes for patients.
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The market presents numerous opportunities for growth and innovation. The ongoing development of combination therapies, which utilize multiple drugs or treatment modalities, holds promise for improving efficacy and patient outcomes.
Additionally, the expansion of clinical trials and research initiatives offers opportunities to explore new therapeutic targets and mechanisms of action. Emerging markets, particularly in Asia-Pacific and North America, provide significant growth potential due to increasing healthcare access and rising demand for advanced cancer treatments.
Challenges such as high treatment costs and access to advanced therapies in low- and middle-income countries persist. Addressing these issues through healthcare policy reforms and collaborative efforts between governments, healthcare providers, and pharmaceutical companies is crucial for ensuring broader access to cutting-edge treatments.
Key Takeaways of Market Report
- Global bladder cancer therapeutics market to generate absolute dollar opportunity worth US$ 456.3 million until 2034.
- Global bladder cancer therapeutics market is valued at US$ 271.4 million in 2023.
- North America is forecasted to hold the largest share of immunotherapy for blood cancer.
Global Bladder Cancer Therapeutics Market: Growth Drivers
- The bladder cancer therapeutics market is expanding due to the rising incidence of bladder cancer, linked to smoking and aging. With 573,000 new cases in 2020 and an increasing geriatric population—projected to reach 22% by 2050—there is a growing demand for effective treatments. This demographic shift significantly propels market opportunities for bladder cancer therapies.
- The development of new targeted therapeutics is driving increased demand for interventions in transitional cell carcinoma. These advanced treatments offer more precise, effective options for patients, enhancing outcomes and expanding the therapeutic landscape. This innovation is pivotal in addressing the growing incidence of bladder cancer, particularly among aging populations and those with a history of the disease.
Global Bladder Cancer Therapeutics Market: Regional Landscape
- North America dominated the immunotherapy landscape for bladder cancer in 2023 and is expected to maintain its lead during the forecast period. This dominance is driven by a significant rise in bladder cancer cases in the United States, with nearly 81,180 new cases reported in 2022, according to the American Cancer Society.
- Asia Pacific is experiencing notable market growth due to the adoption of advanced diagnostic and treatment options in countries like India and China. India alone accounts for approximately 19,000 bladder cancer cases currently. The region's increasing focus on improving healthcare infrastructure and access to cutting-edge therapeutics is propelling the growth of the bladder cancer therapeutics market in Asia Pacific.
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Global Bladder Cancer Therapeutics Market: Key Players
The Company profile covered in this report are Merck & Co., Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, AstraZeneca, Johnson & Johnson, Pfizer Inc., Novartis AG, Eli Lilly and Company, Sanofi S.A., and Genentech, Inc. based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
Global Bladder Cancer Therapeutics Market: Key Developments
- In July 2022, Nanostics Inc. launched a prospective clinical study designed for validating a novel and minimally invasive bladder cancer diagnostic test, ClarityDX Bladder, using its ClarityDX diagnostic platform, where it partnered with the University of Alberta's Alberta Prostate Cancer Research Initiative (APCaRI) and DynaLIFE Medical Labs.
- In July 2022, The United States Food and Drug Administration (FDA) reviewed ImmunityBio's Biologics License Application (BLA) for N-803 in patients with or without Ta or T1 illness who had non-muscle-invasive bladder cancer (NMIBC) carcinoma in situ (CIS).
Global Bladder Cancer Therapeutics Market: Segmentation
Type of Treatment
- Chemotherapy
- Immunotherapy
- Targeted Therapy
- Surgery
- Radiation Therapy
- Others (Combination Therapy, etc.)
Type of Bladder Cancer
- Non-muscle Invasive Bladder Cancer (NMIBC)
- Muscle Invasive Bladder Cancer (MIBC)
Route of Administration
- Oral
- Intravenous
- Intravesical
End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Cancer Research Institutes
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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