Esophageal Cancer Market Size, Share Analysis, Trend, Opportunity, and Forecast to 2023
According to Market Research Future (MRFR) Analysis – Esophageal Cancer Market is growing at a CAGR of 8.7% during the forecast period 2017 to 2023. The global market is segmented on the basis of type, phases, treatment, and region.
Esophageal Cancer Market Overview
Rated the sixth most common type of cancer affecting patients, esophageal cancer is responsible for numerus deaths worldwide. Tobacco and alcohol consumption, or certain dietary habits can lead to probabilities of attaining the disease. With advances in treatment, diagnostics, and surgical techniques, the prognosis rate of esophageal cancer has improved considerably over the ears. In addition, increase in survival rates, detection at an early stage, and transformation in the field of drug development have all worked in favor of the global esophageal cancer market. The global esophageal market size can touch USD 1000.1 million by 2023, as per the report by Market Research Future (MRFR).
Historically, esophageal cancer had limited treatment options. However, recent treatment advances are aiding patients to opt for treatment options that can possibly help them live longer with less side effects. Intensive R&D activities and clinical trials are being carried out at an accelerated pace. Combination of various therapies such as chemotherapy with immunotherapy have demonstrated significant improvement in response rates. Of late, the FDA has also been approving more immunotherapy drugs for a variety of oncological disorders, which is likely to uplift the development of the esophageal cancer market. The market is touted to accrue revenue at 8.7% CAGR from 2017 to 2023 (forecast period).
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The global esophageal cancer market has been segmented based on type, phase, and treatment.
By type, the esophageal cancer market has been segmented into esophageal squamous-cell carcinoma, esophageal adenocarcinoma, and others. The esophageal squamous-cell carcinoma segment is predicted to gain significant revenue in the coming years. It held close to 65% market share in 2016.
By phase, the esophageal cancer market has been segmented into phase I, phases II, and phases III.
By treatment, the esophageal cancer market has been segmented into surgery, chemotherapy and radiotherapy and others.
Region-wise, the esophageal cancer market has been segmented into North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe.
With numerous cases of esophageal cancer, North America has commanded the leading position in the global esophageal cancer market. The population of the region is highly addicted to tobacco, which remains among the prime causes of esophageal cancer. High government support, high healthcare expenditure, and favorable reimbursement landscape is providing impetus to the growth of the North America market. The US has major contribution to make in the North America market. Robust healthcare infrastructure and the presence of a wide population base supports the growth of the market.
Intensive R&D activities in Europe is driving the growth of the esophageal cancer market in Europe. The expansion of the APAC market can be attributed to the surging incidence rate of esophageal cancer and large unmet needs in the region.
Amgen Inc. (U.S.), Boehringer Ingelheim GmbH (Germany), Johnson & Johnson (U.S.), Eli Lilly and Company (U.S.), Merck & Co., Inc. (U.S.), F. Hoffmann-La Roche (Switzerland), Novartis AG (Switzerland), GlaxoSmithKline Plc. (U.K), Bristol-Myers Squibb (U.S.), Bristol-Myers Squibb Company (U.S.), and Gilead Sciences, Inc. (U.S.) are the eminent players in the global esophageal cancer market.
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Esophageal Cancer Market Industry Updates
August 2019 - A new immunotherapy drug has been approved by the U.S. Food and Drug Administration (FDA) aimed at treating esophageal cancer. Dubbed as “Keytruda", the new immunotherapy drug pembrolizumab has exhibited its efficiency in reducing the risk of fatality in esophageal cancer patients by 31% in clinical trials. The treatment would be beneficial for those patients who are unresponsive to chemotherapy. Keytruda is the result of aggressive R&D by the leading pharmaceutical company, Merck & Co.
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