PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425004
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425004
Bladder Cancer Therapeutics and Diagnostics Market size was valued at USD 3,794.2 Million in 2022, expanding at a CAGR of 5.7% from 2023 to 2030.
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Bladder Cancer Therapeutics and Diagnostics Market- Market Dynamics
Increasing awareness of bladder diseases and available therapies, expanding healthcare expenditure, and the mounting burden of bladder cancer is expected to propel the market demand
The bladder cancer therapeutics and diagnostics market is poised for rapid growth, fueled by factors such as increasing awareness of bladder diseases and available therapies, expanding healthcare expenditure, and the mounting burden of bladder cancer. In March 2022, for example, the World Bladder Cancer Patient Coalition declared the 'Don't Go Red' theme for Bladder Cancer Awareness to raise awareness of warning signs and symptoms, underscoring the importance of early detection in enhancing long-term survival and quality of life. Furthermore, the global prevalence of bladder cancer is on the rise, with bladder cancer ranking among the top 10 high-incidence cancers worldwide according to the Global Cancer Observatory Statistics 2020. In the same report, it was noted that in 2020, there were an estimated 573,278 new cases of bladder cancer and 1,414,259 cases of prostate cancer worldwide. This high incidence of cancer globally is a significant driver for the market.
Bladder Cancer Therapeutics and Diagnostics Market- Key Insights
As per the analysis shared by our research analyst, the global Bladder Cancer Therapeutics and Diagnostics Market is estimated to grow annually at a CAGR of around 5.7% over the forecast period (2023-2030)
The Bladder Cancer Therapeutics and Diagnostics Market is projected to grow at a significant rate driven by increasing awareness of bladder diseases and available therapies, expanding healthcare expenditure, and the mounting burden of bladder cancer
Based on Diagnostic, the Cystoscopy segment was predicted to show maximum market share in the year 2022
Based on Cancer Type, Transitional Cell Bladder Cancer was the leading Segment in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Bladder Cancer Therapeutics and Diagnostics Market is segmented on the basis of Diagnostic, By Cancer Type, and Region.
Based on the Diagnostic, the market is divided into four segments: Cystoscopy, Bladder Ultrasound, Urinalysis, Other Diagnostics. The Cystoscopy segment generated the highest revenue, and it is expected to maintain its leading position throughout the forecast period. Cystoscopy, a procedure for visualizing the interior of the bladder and urethra using a specialized endoscope inserted through the urethra, is projected to be the dominant segment in the studied market during the forecast period. This cost-effective method is driven by increasing adoption, the rising prevalence of bladder cancer, and product launches by key market players.
The market is categorized by Cancer Type into three segments: Transitional Cell Bladder Cancer, Squamous Cell Bladder Cancer, Other Cancer Types. The transitional cell bladder cancer segment is expected to hold a significant share of the global bladder cancer diagnostics market by 2030, primarily due to the high incidence of transitional cell bladder cancer.
Bladder Cancer Therapeutics and Diagnostics Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period owing to the rising prevalence of cancer. For instance, as to the January 2022 estimates from the American Cancer Society, about 81,180 new cases of bladder cancer would occur in the United States year 2022, with 61,700 cases in men and 19,480 cases in women.
In the realm of bladder cancer therapeutics and diagnostics, companies are fervently researching and developing innovative approaches. In therapeutics, a notable focus is on the advancement of targeted therapies, particularly immunotherapies, to enhance bladder cancer treatment outcomes. Immune checkpoint inhibitors, exemplified by drugs like pembrolizumab and atezolizumab, have secured approvals for specific bladder cancer types, and ongoing investigations are expanding the repertoire of treatment options. Moreover, companies are dedicated to exploring novel biomarkers that can aid in early detection, prognosis, and treatment response assessment. These biomarkers can help refine diagnostic methods and guide more personalized therapeutic interventions, potentially improving patient outcomes and reducing the overall burden of bladder cancer. Companies in this space are committed to addressing the challenges associated with bladder cancer comprehensively, from early diagnosis to innovative treatment modalities, with the ultimate goal of enhancing patient care and survival rates.
In July 2022, the United States Food and Cancer Type Administration (FDA) agreed to review ImmunityBio's Biologics License Diagnostic (BLA) for N-803, which could benefit patients with or without Ta or T1 illness who have non-muscle-invasive bladder cancer (NMIBC) carcinoma in situ (CIS).