New York, May 22, 2023 (GLOBE NEWSWIRE) -- MIBC is a type of bladder cancer that spreads to the muscle layer of the bladder wall. It is a serious condition that requires prompt and effective treatment. Various cutting-edge cancer treatments available all over the world and the growing need for innovation in cancer treatments led the global muscle-invasive bladder cancer therapeutics market to stand at US$ 889.5 million in 2022, and it is projected to expand rapidly at a CAGR of 15.8% over the forecast period (2023 to 2033). Revenue from muscle-invasive bladder cancer therapeutics is projected to reach US$ 4.99 billion by 2033.
The market is expected to exhibit significant growth in the coming years, driven by several factors. One of the key driving factors is the development of novel therapies. In recent years, there has been significant progress in the development of targeted therapies and immunotherapies that have shown promising results in clinical trials. These therapies offer new treatment options for MIBC patients and are expected to drive growth in the market.
Another driving factor is the rising adoption of minimally invasive surgeries such as robot-assisted radical cystectomy (RARC) and laparoscopic radical cystectomy (LRC). These procedures offer several benefits over traditional open surgeries, including reduced blood loss, shorter hospital stays, and faster recovery times. In addition, the market is expected to witness significant growth in emerging markets such as Asia Pacific and Latin America, where there is a high incidence of bladder cancer. Increasing availability of healthcare infrastructure and the rising adoption of new treatment options are likely to drive growth in these regions.
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The number of drug development projects has risen 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 funding. All these factors will boost the global demand for muscle-invasive bladder cancer therapeutics over the forecast period.
Key Takeaways from Market Study
- The global muscle-invasive bladder cancer therapeutics market is forecasted to reach US$ 4.99 billion by 2033.
- Low-grade bladder cancer dominated the global market accounting for US$ 620.7 million in 2022.
- Demand for immunotherapy drugs is set to rise significantly over the forecast period at a CAGR of 16.4%.
- By distribution channel, hospital pharmacies held 46% of the global market share in 2022.
- North America led the global market in 2022 with the U.S. contributing US$ 382.05 million.
“The market for muscle-invasive bladder cancer therapeutics is projected to exhibit significant growth, driven by increasing contract manufacturing and research activities aimed at developing innovative cancer treatments,” says an analyst of Persistence Market Research.
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Market Competition
Leading manufacturers of cancer drugs are undertaking initiatives such as increasing their research and development expenditures via clinical partnerships to develop low-cost products.
- In March 2021, Genentech (Roche subsidiary) received approval for atezolizumab. Atezolizumab is an immunotherapy drug used in combination with chemotherapy for treating MIBC patients who are not eligible for cisplatin-containing chemotherapy.
- In June 2020, Merck & Co. announced the results of a Phase III clinical trial that demonstrated the efficacy of pembrolizumab in combination with chemotherapy for the treatment of MIBC patients.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the 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, others}, chemotherapy {mitomycin C, docetaxel, paclitaxel, cisplatin, others), targeted therapy {erdafitinib, enfortumab vedotin-ejfv, sacituzumab govitecan, others}), and 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 muscle-invasive bladder cancer therapeutics market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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