Cholangiocarcinoma Market Trends

Growth Drivers

• New Drug Approvals by Regulatory Bodies- The expansion of the worldwide cholangiocarcinoma market is anticipated to be driven by key market participants obtaining licences from regulatory authorities. The biopharmaceutical company Incyte, for example, announced in April 2020 that the FDA had approved Pemazyre, a kinase inhibitor, for the treatment of adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma that has an FDA-approved test detecting a FGFR2 fusion or other rearrangement. In 2022, the Centre for Drug Evaluation and Research (CDER) authorised 37 new medications. There is a significant variation in the quantity of new pharmaceutical goods that are approved each year. In 2016, there were just over 20 unique pharmaceuticals released, whereas in 2018, there were nearly 60 new products approved. 50 new medication approvals were made in 2021.
• Raising Knowledge About Cholangiocarcinoma- Rising awareness of cholangiocarcinoma is anticipated to fuel the expansion of the global market for the condition. For example, in March 2022, the non-profit Pancare Foundation saw an opportunity to launch its awareness campaign for biliary cancer in Australia during the month of February, which is globally recognised as Gallbladder and Bile Duct Cancer Awareness Month. To raise awareness of biliary cancer in the general public, the activities include a new clinical trial, support for a biliary cancer research programme, animations describing common signs of the disease, and a new fellowship for biliary cancer research.
• Growing the Use of Inorganic Growth Techniques- The purchase agreements for cholangiocarcinoma, which are being pursued by major players in the market, are examples of inorganic development tactics that are anticipated to propel the expansion of the worldwide cholangiocarcinoma market during the forecast period. For example, in October 2022, the multi-strategy alternative asset management company Sagard Healthcare announced that it had acquired the rights of TIBSOVO from Agios Pharmaceuticals, Inc., a pharmaceutical company. The FDA has approved TIBSOVO, an oral targeted medication, to treat adult patients with acute myeloid leukaemia (AML) or cholangiocarcinoma (bile duct cancer) who have an isocitrate dehydrogenase-1 (IDH1) mutation.

Challenges

• Treatment for cholangiocarcinoma is quite expensive- The high cost of treating cholangiocarcinoma is anticipated to hinder the global cholangiocarcinoma market for the disease. As an illustration, on June 11, 2023, information from the online pharmaceutical encyclopaedia Drugs.com states that Keytruda (pembrolizumab), a medication that belongs to the anti-PD-1 monoclonal antibodies drug class, is frequently used to treat cholangiocarcinoma, breast cancer, cervical cancer, colorectal cancer, and other conditions. Keytruda intravenous solution (25 mg/mL) costs about USD 5,747 for a four-millilitre supply. Furthermore, the same source states that a supply of 14 pemazyre oral pills, each with a dosage of 4.5 mg, costs approximately 19,000 USD.
• Cholangiocarcinoma diagnosis at an early stage is still extremely difficult, mostly because the illness is asymptomatic in the early stages or presents with vague symptoms.
• Patients are given a variety of treatments, but for cases that cannot be surgically removed, there is no set standard of care.