Market Synopsis
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 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.
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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 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.
Market Segmentation
By type, the global esophageal cancer market has been segmented into esophageal squamous-cell carcinoma, esophageal adenocarcinoma, and others.
On the basis of phase, the esophageal cancer market has been segmented into phase I, phases II, and phases III.
The esophageal cancer market by treatment, has been segmented into surgery, chemotherapy and radiotherapy and other.
Competitive Dashboard
The share analysis of the esophageal market offered in this MRFR report studies key players such as Amgen Inc. (U.S.), F. Hoffmann-La Roche (Switzerland), Eli Lilly and Company (U.S.), Bristol-Myers Squibb Company (U.S.), Bristol-Myers Squibb (U.S.), Boehringer Ingelheim GmbH (Germany), GlaxoSmithKline Plc. (U.K), Johnson & Johnson (U.S.), Novartis AG (Switzerland), Gilead Sciences, Inc. (U.S.), and Merck & Co., Inc. (U.S.).
Regional Analysis
The comprehensive geographical study of the global esophageal market spans across North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America is highly affected by the addiction of tobacco and other drugs which is expected to support the growth of the patient population. It is anticipated to catalyze the growth of the esophageal cancer market in the region. In addition, the support provided by the government for research & development of effective drugs is expected to propel market expansion over the next couple of years.
Europe is anticipated to maintain its prominence at the second spot through the assessment period. The region is poised to exhibit a rise in research & development. It is likely to favor growth of the regional esophageal market. In addition, Asia Pacific signifies developmental opportunities owing to the presence of a huge patient population.
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Industry News
- In January 2019, Nivolumab, a medicine used for treating cancer, has extended OS in esophageal cancer of advanced stage as an outcome of the phase 3 of a clinical trial.
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