Esophageal Cancer Treatment Market Highlights over 2020-2029
The esophageal cancer treatment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Extensive research associated with esophageal cancer treatment in western countries, along with the growing investment in the development of advanced therapies are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing consumption of carcinogens through processed foods and the rising prevalence of esophageal cancer amongst individuals on a global level. According to the data collected from International Agency for Research on Cancer, in 2020, the estimated number of deaths from esophageal cancer worldwide were 544,076, which accounted for 5.5% of the total global cancer deaths.
The market is segmented on the basis of treatment type into surgery, endoscopic therapy, chemotherapy, immunotherapy, radiotherapy, targeted therapy, and others, out of which, the chemotherapy segment is anticipated to grab the largest share by the end of 2021 on account of higher positive diagnosis rates and better efficiency of chemotherapy than other therapies. Moreover, chemotherapy is widely being used as an adjuvant treatment alongside radiation therapy and surgery, which is also projected to contribute to the growth of the segment during the forecast period.
On the basis of application, the speciality hospitals segment in the global esophageal cancer treatment market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that esophageal cancer is a relatively rare occurrence and as a result, a considerable portion of the population with this cancer on a global level tend to choose healthcare facilities specializing in its treatment.
Esophageal Cancer Treatment Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the advancement in healthcare infrastructure and the need to develop innovative esophageal cancer treatment solutions in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies in esophageal cancer research, accompanied by the presence of leading healthcare service providers in the region. Along with this, North America also leads in terms of reimbursement policies, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the esophageal cancer treatment market on account of rising awareness about esophageal cancer and high disease diagnosis rates in the region. As per the analysis of International Agency for Research on Cancer, in 2020, the estimated number of cases of esophageal cancer in European Union accounted for 8.8% of the total global cases of esophageal cancer.
The global esophageal cancer treatment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global esophageal cancer treatment market includes the following segments:
By Treatment Type
- Surgery
- Endoscopic Therapy
- Chemotherapy
- Immunotherapy
- Radiotherapy
- Targeted therapy
- Others
By End-User
- General Medical & Surgical Hospitals
- Specialty Hospitals
- Clinics
- Others
Growth Drivers
- Extensive Research Associated with Esophageal Cancer Treatment in Western Countries
- Growing Investment in the Development of Advanced Therapies
Challenges
- Expensive Esophageal Cancer Treatment
- Side Effects Caused by Esophageal Cancer Treatment Drugs
Top Featured Companies Dominating the Market
- Pfizer Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bristol Myers Squibb
- Merck & Co.
- Innovent Biologics, Inc.
- Pinnacle Biologics, Inc.
- F. Hoffmann-La Roche AG
- GlaxoSmithKline plc
- Novartis AG
- Genentech, Inc.
