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Urinary Tract Cancer Global Market Analysis, Trends, Growth, Research And Forecast 2033
Urinary Tract Cancer Global Market
According to The Business Research Company's, The urinary tract cancer market size has grown exponentially in recent years. It will grow from $2.65 billion in 2023 to $3.21 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to advancements in diagnostics, pharmaceutical developments, awareness and early detection, precision medicine.
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Market Drivers and Trends:
The growing prevalence of bladder cancer is expected to propel the growth of the urinary tract cancer market. Bladder cancer refers to the development of cancerous cells within the tissues of the urinary bladder, which is a hollow organ in the pelvis responsible for storing urine produced by the kidneys until it is excreted from the body. This higher prevalence leads to greater demand for diagnostic tools, screening methods and treatment options for urinary tract cancer patients. For instance, in January 2023, according to the report published by the American Cancer Society Inc., a US-based voluntary organization for cancer awareness, the estimated cases of urinary system cancer increased to 168,560 in 2023, an increase of 2.66% from 164,190 in 2022 in the United States. Moreover, bladder cancer cases increased to 83,730 in 2021, an increase of 2.8% from 81,400 in 2020. Therefore, the growing prevalence of bladder cancer will drive the growth of the urinary tract cancer market.
Major companies operating in the urinary tract cancer market are increasing their focus on advancement in treatment process to provide more effective and tailored solutions to gain a competitive edge in the market. Such advances in urinary tract cancer treatment emphasize precise interventions, leveraging the body's immune system, improving surgical techniques and customizing treatments to suit the unique needs of individual patients. For instance, in October 2022, UC San Diego Health, a US-based healthcare system, introduced an advanced treatment for patients suffering from low-grade upper tract urothelial cancer (LG-UTUC), a relatively uncommon subtype of urinary system cancer. This advanced treatment provides an alternative approach to the traditional method of complete kidney removal, potentially sparing patients from the need for future dialysis or kidney transplants. The innovative therapy involves the administration of a drug named Jelmyto through a series of injections that contain mitomycin, a well-known chemotherapy agent, combined with a sterile hydrogel. The administration of this drug occurs through guided injections, which enable precise targeting of the tumor location within the urinary system.
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Major Key Players of the Market:
Pfizer Inc.; Johnson & Johnson; F. Hoffmann-La Roche Ltd; Merck KGaA; Bayer AG; Novartis AG; Bristol-Myers Squibb Company; AstraZeneca PLC; GlaxoSmithKline PLC (GSK); Eli Lilly and Company; Amgen Inc.; Astellas Pharma Inc.; Eisai Co. Ltd.; Boehringer Ingelheim GmbH; Incyte Corporation; Shionogi & Co. Ltd.; Kyowa Hakko Kirin Co. Ltd; Endo International PLC; Seagen Inc.; Exelixis Inc.; Ferring Pharmaceuticals; Bavarian Nordic; EUSA Pharma; UroGen Pharma Inc.; Mersana Therapeutics; Protara Therapeutics Inc.; Spectrum Pharmaceuticals; IDL Biotech AB; AroCell AB; ImmunityBio Inc
Urinary Tract Cancer Market 2024 Key Insights:
• The urinary tract cancer market size is expected to see rapid growth in the next few years. It will grow to $6.49 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%.
• Rising Bladder Cancer Cases Fuel Expansion Of The Urinary Tract Cancer Market
• Advancements In Urinary Tract Cancer Treatment Redefining Patient Care
• North America was the largest region in the urinary tract cancer market in 2023.
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