The combination of various therapies such as chemotherapy with immunotherapy has 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 an 8.7% CAGR from 2017 to 2023 (forecast period).
Rated the sixth most common type of cancer affecting patients, esophageal cancer is responsible for numerous deaths worldwide. Tobacco and alcohol consumption or certain dietary habits can lead to probabilities of attaining the disease.
Region-wise, the esophageal cancer market has been segmented into North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe.
High government support, high healthcare expenditure, and a favorable reimbursement landscape are providing impetus to the growth of the North American market. The US has a major contribution to make in the North America market. Robust healthcare infrastructure and the presence of a wide population base supports the growth of the market.
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.
Intensive R&D activities in Europe is driving the growth of the esophageal cancer market in Europe. The expansion of the APAC market can be attributed to the surging incidence rate of esophageal cancer and large unmet needs in the region.