Esophageal Cancer Market Trends, Statistics, Size, Share by 2023
The global esophageal market size can touch USD 1000.1 million by 2023, as per the report by Market Research Future (MRFR).
Rated the sixth most common type of cancer affecting patients, esophageal cancer is responsible for numerus deaths worldwide. Tobacco and alcohol consumption, or certain dietary habits can lead to probabilities of attaining the disease. With advances in treatment, diagnostics, and surgical techniques, the prognosis rate of esophageal cancer has improved considerably over the ears. In addition, increase in survival rates, detection at an early stage, and transformation in the field of drug development have all worked in favor of the global esophageal cancer market. Historically, esophageal cancer had limited treatment options. However, recent treatment advances are aiding patients to opt for treatment options that can possibly help them live longer with less side effects. Intensive RD activities and clinical trials are being carried out at an accelerated pace.
Combination of various therapies such as chemotherapy with immunotherapy have demonstrated significant improvement in response rates. Of late, the FDA has also been approving more immunotherapy drugs for a variety of oncological disorders, which is likely to uplift the development of the esophageal cancer market. The market is touted to accrue revenue at 8.7% CAGR from 2017 to 2023 (forecast period).
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.
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.
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.