Asia-Pacific Bladder Cancer Therapeutics and Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Asia-Pacific Bladder Cancer Therapeutics and Diagnostics market is expected to register a CAGR of 5% during the forecast period, owing to increasing burden of bladder cancer and new diagnosis & treatments coming up in the market. According to Globocan, 2018, around 37,293 new cases of bladder cancer were registered in Japan and around 9,943 deaths occurred due to it. This calls for the need of early treatment and diagnosis. Furthermore, new drugs are being developed for the treatment of bladder cancer. In 2020, BeiGene Ltd., recieved an approval from China National Medical Products Administration (NMPA) for anti-PD-1 antibody tislelizumab in the treatment of locally advanced or metastatic urothelial carcinoma (UC). Hence, these factors are expected to drive the growth of the market.
Bladder Ultrasound is one of the type of diagnostic device which uses sound waves to detect and analyze the cancer present in the bladder. The growing incidence of bladder cancer and new devices are being developed for the diagnosis of cancer are expected to stimulate the growth in this segment. According to the Globocan, 2018, almost 4,249 incidences of bladder cancer were observed in the Korea Republic of with around 1,712 deaths. Ultrasound is the most common method used in diagnosing the early stages of cancer due to its specificity. Hence, it is expected to boost the demand for ultrasound devices in the market during the forecast period.
Some of the key players in the market are AstraZeneca Plc, Bristol-Myers Squibb Company, Eli Lilly & Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline, Novartis, Pfizer, Sanofi, Endo Pharmaceuticals Inc. and Johnson & Johnson. Companies are constantly indulged in developing the products related to diagnosis and treatment of the bladder cancer to grow their presence in the market. In 2018, Merck recieved an approval from Japanese Ministry of Health, Labor and Welfare (MHLW) for it's product Keytruda (MSD) which is used for the treatment of urothelial cancer patients.