Bladder Cancer Therapeutics and Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Bladder Cancer Therapeutics and Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The bladder cancer therapeutics and diagnostics market is poised to grow at a CAGR of 4% over the forecast period.

COVID-19 had a significant impact on the growth of the studied market. For instance, according to the study published in June 2022, titled "The Impact of the COVID-19 Pandemic on Bladder Cancer Care in the Netherlands" the number of BC diagnoses fell by 14% during the first COVID wave but rose back to pre-COVID levels by the end of 2020 (600 diagnoses a month). Treatment-related alterations were kept to a minimum and adhered to the revised guidelines. During the first wave, the surgical volume was not compromised. Overall, the impact of the initial COVID-19 outbreak on bladder cancer care in the Netherlands appears to be less severe than that documented for other solid tumors in the Netherlands and elsewhere. Additionally, as per the updates from American Urological Association’s May 2022, during the peak of the COVID-19 pandemic in 2020, more than a quarter of patients with bladder cancer experienced care delays in the United States. 76,984 (27.2%) patients reported that their treatment was changed, delayed, or canceled as a result of the pandemic, including bladder cancer (27.5%). As a result of the pandemic, the market for bladder cancer therapeutics and diagnostics had been significantly impacted.

The bladder cancer therapeutics and diagnostics market may witness rapid growth due to the increasing awareness about bladder diseases and available therapies, along with growing healthcare expenditure and the growing burden of bladder cancer. For instance, in March 2022, the 'Don't Go Red' theme for Bladder Cancer Awareness has been declared by World Bladder Cancer Patient Coalition to raise awareness of warning signs and symptoms, as early detection is critical for enhancing long-term survival and quality of life. Such initiatives are expected to boost market growth over the forecast period.

Additionally, the increasing prevalence of bladder cancer across the world supports the market expansion over the forest period. For Instance, the Global Cancer Observatory Statistics 2020 reported that bladder cancer and prostate cancer are among the top 10 high incidence cancer around the world. The same source also reported that in 2020, the estimated number of new cases of bladder cancer was 573,278, and that of prostate cancer was 1,414,259 cases among both sexes in the year 2020. Such a high incidence of cancer worldwide is propelling the market over time.

Additionally, various strategies adopted by the key market players, such as product launches and mergers and acquisitions, are anticipated to drive the market over the forecast period. For Instance, in August 2021, Merck, known as MSD outside of the United States and Canada, reported a label update for KEYTRUDA, Merck's anti-PD-1 treatment, in first-line advanced urothelial carcinoma (bladder cancer) in the United States.

Thus, all aforementioned factors are expected to boost the market growth. However, the rise in the number of patent expiration and increased use of the generic drug may restrain the market growth.

Key Market TrendsCystoscopy is Anticipated to be the Dominant Segment in Studied Market Over the Forecast Period

Cystoscopy is a procedure used to observe the interiors of the bladder and urethra using a telescope. A cystoscope is a specialized endoscope that is inserted through the urethra into the bladder to allow direct visual inspection of the urothelium. Cystoscopy is cost-effective. The segment is driven by rising in the adoption of cystoscopy, the rising prevalence of bladder cancer, and product launches by the key market players.

According to the study published in the World Journal of Urology in January 2022, titled "Explainable artificial intelligence (XAI): closing the gap between image analysis and navigation in complex invasive diagnostic procedures" approximately 1.2 million flexible cystoscopy procedures are conducted annually in the United States. Thus, increasing the adoption of cystoscopy in the diagnosis of bladder cancer is expected to boost the market growth.

Additionally, the strategic initiatives taken by the market players are also expected to propel the growth of the market segment. For instance, in May 2020, Ambu Inc. launched a new single-use cystoscope. Through this urologists have fast access to a single-use cystoscope for operations such as bladder cancer surveillance, stent removal, and other common cystoscopy procedures with the Ambu scope 4 cysto. Additionally, technological advancements in cystoscopy devices are likely to support the growth of the market. For instance, in February 2022, Photocure ASA reported United States Food and Drug Administration (FDA) approved its new and improved Blue Light Light system to be used in Blue Light Cystoscopy (BLC) procedures for the diagnosis of non-muscle-invasive bladder cancer (NMIBC). Thus, all aforementioned factors are expected to post the segment growth over the forecast period.

North America to Dominate the Market Over the Forecast Period

The North American region holds the largest share due to rising R&D activities and well-established healthcare infrastructure in the region. Additionally, the presence of a large number of biologics companies and biopharmaceutical companies is contributing to the large size and excellent growth of the bladder cancer therapeutics and diagnostics market.

According to the American Cancer Society, January 2022 updates, in 2022, there are around 81,180 new cases of bladder cancer (61,700 in men and 19,480 in women in the United States. Hence, with the growing prevalence of bladder cancer, the demand for its diagnosis and treatment is expected to increase thereby boosting the market growth.

Additionally, various strategies adopted by the key market players support the market growth over the forecast period. For instance, in August 2021, the United States Food and Drug Administration approved nivolumab (Opdivo, Bristol-Myers Squibb Co.) for the adjuvant treatment of individuals with urothelial carcinoma (UC). Bladder Cancer patients who are at high risk of recurrence following radical resection. Additionally, in February 2022, Astellas Pharma Inc. and Seagen Inc. reported preliminary findings from Cohort H of the EV-103 study, which is testing PADCEV (enfortumab vedotin-jeff) as a monotherapy in patients with muscle-invasive bladder cancer (MIBC) who are ineligible for cisplatin-based treatment.

Thus, all aforementioned factors are expected to boost the market growth in the North American region over the forecast period.

Competitive Landscape

The bladder cancer and therapeutics and diagnostics market is moderately competitive and consists of several major players. The major companies active in the market are AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly, GlaxoSmithKline, F. Hoffmann-La Roche Ltd, Novartis, and Pfizer. The companies present in the market are focusing on product innovations, expansions, finding new markets, or innovating their core competencies, in order to expand their market shares.

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