Esophageal Cancer Market Scenario:
Cancer is one of the leading causes of death worldwide and is expected to witness the expansion of patient population in the years to come. One of the types of cancer that affect the food pipe connecting the mouth and stomach is the esophageal cancer which is majorly prevalent among the older adults belonging to 55 years and above age group. Market Research Future (MRFR) has found out that the global esophageal cancer treatment market is projected to grow at a compound annual rate of 8.7% during the forecast period 2017 to 2023. It is underlined in the report that the market is anticipated to scale a decent valuation of USD 1000.1 Mn towards the close of 2023.
The rising burden of cancer has paved the way for innovation in the market. It is one of the prime areas of research in the medical field. With the increasing number of drug patent applications in conjunction with the rising count of clinical trials, the esophageal cancer market size is expected to witness a boom over the next couple of years. Key players are anticipated to exponentially invest in the development of more effective treatments which is forecasted to aid the proliferation of the esophageal market in the foreseeable future.
Addiction to tobacco, betel nuts, etc. is the key factor responsible for triggering esophageal cancer. Increasing shift towards a sedentary lifestyle has led to an increase in addiction problems among the masses. This, in turn, is expected to catalyze the growth of patient population. The future trajectory of the esophageal market is likely to remain highly lucrative over the next couple of years.
People are getting increasingly aware of the availability of treatments which is poised to aid market expansion. The support extended by governments in conjunction with the early detection of the disease has unleashed massive opportunities for the market players. It is anticipated to augment the esophageal cancer market in the long run.
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The global esophageal cancer market is segmented on the basis of type. Based on the type, the market has been segmented as esophageal squamous-cell carcinoma, esophageal adenocarcinoma and others. Based on the phases, the market has been segmented as phase I, phases II and phases III. Based on the treatment, the market has been segmented as surgery, chemotherapy and radiotherapy and other.
- Global Esophageal cancer solutions providers, manufacturers & suppliers
- Research and development (R&D) companies
- Market research and consulting service providers
- Academic institutes and universities
The market of esophageal cancer is much higher in the Americas region attribute to high rate of tobacco, alcohol, very hot drinks, poor diet, and chewing betel nut. According to report published by American Cancer Society, in 2018, it is estimated that around 17,290 new cases of esophageal cancer diagnosed in Americas which include 13,480 of men and 3,810 of women and around 15,850 will be die. Additionally, In the United States, up to 200,000 people die each year from smoking-related illnesses that leads to incidence of esophageal cancer in this region. The government have more focus towards research and development for introducing the best treatment for their population.
Asia Pacific region are considering the growing market, owing to presence of huge population suffering with esophageal cancer. Whereas country like India and china are considering fastest growing region due to the high rate of tobacco and alcohol consumption which leads the incidence of esophageal cancer, additionally they are open to adopt new technology, and best treatment option from developed countries in order to improve the quality of life for their citizen. Whereas, the Middle East and Africa have low market due to his incapability of investment, Moreover, developing countries are still focusing on new drugs for the treatment of esophageal cancer, this gap between the developed and developing countries will present significant growth opportunity for the esophageal cancer market players in the coming years
Europe is also consider huge market for esophageal cancer players, owing to present of huge population affected with disease. According to Cancer Research U.K, in 2014, esophageal cancer holds 2 percent of total cancer cases in United Kingdom. Government are more focusing to educate their public in order to minimize the patient’s population by educating them about the side effect of tobacco, alcohol etc.
Key players of Global Esophageal cancer Market:
- Eli Lilly and Company,
- Hoffmann-La Roche,
- Bristol-Myers Squibb Company,
- Boehringer Ingelheim GmbH,
- Bristol-Myers Squibb,
- GlaxoSmithKline Plc.,
- Novartis AG,
- Johnson & Johnson,
- Gilead Sciences,
- Merck & Co.
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