Esophageal Cancer Market Overview

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

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 Esophageal Cancer Market is projected to reach USD 22 billion at CAGR of 8.22% by 2030.

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

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KEYPLAYERS

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.

Esophageal Cancer Market Segmentation

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.

Esophageal Cancer Market 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.

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 RD by the leading pharmaceutical company, Merck Co.

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