Bladder cancer is when the DNA in the bladder cells mutates and disables the cell growth functions. In many cases, these mutated cells either die or get attacked by the immune system. However, sometimes they might evade the immune system, multiply aggressively, and form a tumor in the bladder. So far, smoking is the most important risk factor for bladder cancer as tobacco has carcinogenic chemicals that pass into the bloodstream, and kidneys filter them into the urine.
The Global Bladder Cancer Market is projected to grow at a CAGR of around 4.6% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the rapidly increasing instances of bladder cancer worldwide, coupled with the escalating focus of governments of different countries on developing robust medical infrastructure & increasing the overall healthcare expenditure.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico|
|Europe: Germany, The UK, Germany, France, Italy, Spain, Rest of Europe|
|Asia-Pacific: China, Japan, India, Australia, South East Asia, Rest of Asia-Pacific|
|South America: Brazil, Rest of Latin America|
|Middle East & Africa: South Africa, GCC, Rest of Middle East & Africa|
|Key Companies Profiled||
AstraZeneca PLC, Bristol Myers Squibb, Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Novartis International AG, Pfizer Inc., Sanofi, Others
|Unit Denominations||USD Million/Billion|
Besides, massive R&D investments by the leading biotech & pharma companies in bringing advancements in the current diagnoses & treatments of bladder cancer and offering better success rates & effectiveness on patients are also driving the global market.
Governments across different countries are actively spreading awareness campaigns, advertisements, etc., among people about bladder cancer & the availability of effective therapies to cure the illness. In addition, with the rising geriatric population and higher possibilities of bladder cancer in those above 50 years, there are improved screening rates worldwide as a precautionary step, which projects lucrative prospects for the Global Bladder Cancer Market through 2027.
Impact of Covid-19 on the Global Bladder Cancer Market
In 2020, the Covid-19 pandemic introduced a paradigm shift in the functioning of different industries throughout the world & put immense pressure on the entire healthcare sector. The Bladder Cancer Market witnessed numerous unprecedented challenges associated with its global expansion, principally due to shifting priorities of the healthcare sector to address only Covid-19 patients.
As the effect of the Covid-19 virus was severe, governments of different countries imposed lockdowns & stringent movement restrictions to curb the spread of this dreadful disease. Consequently, such limitations restricted movements of all types and restrained non-critical patients from frequent hospital visits.
However, critical cases were addressed by doctors at hospitals while abiding by the safety norms. With digital transformations, healthcare professionals assisted their non-critical patients remotely using online platforms by exchanging reports & prescribing medications, parceling medications, & scheduling tests.
The most prominent challenges for the bladder cancer market during the pandemic were the halt in research operations and the unavailability of funds. Since governments of different countries invested massively in R&D for developing Covid-19 vaccines & cures, drug discoveries & developments associated with bladder cancer got temporarily suspended. Consequently, the leading players in the Global Bladder Cancer Market witnessed a downfall in revenue generation amidst the crisis.