Urinary Tract Cancer Market Expected to Reach $8.786 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Urinary tract cancer Market by Cancer Type, Treatment Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global urinary tract cancer market was valued at $1.704 billion in 2020, and is estimated to reach $8.786 billion by 2030, growing at a CAGR of 18.6% from 2021 to 2030.

Cancer is defined as an adverse disease that is caused due to abnormal cell growth, and possess the potential to spread to other body parts. Urinary tract cancer is a type of cancer found in the bladder, ureter, and urethra. The most common urinary tract cancer is bladder cancer. The aging population, smokers and workers in the chemical industry are more vulnerable to urinary tract infection.

The factors that drive the growth of the urinary tract cancer market include rise in prevalence of urinary tract cancer, such as bladder cancer; increase in number of geriatric population; advancement in R&D activities in healthcare sectors, and surge in the development of advanced biologic therapy. For instance, according to the Centers for Disease Control and Prevention (CDC), around 17,500 women, and 56,000 men are diagnosed with bladder cancer, every year in the U.S. The geriatric population is more prone to bladder cancer due to weakening of immune cells against the cancer tissue present in the bladder. According to American Cancer Society, it was observed that about 9 out of 10 people with bladder cancer, are above the age of 55. Market players are focusing on the development of novel therapies for treatment of urinary tract cancer. Moreover, in January 2021, Merck and Pfizer Inc., announced the European Commission approval of Bavencio (avelumab) which is the first line treatment of advanced or metastatic urothelial carcinoma. Furthermore, in March 2021, Exelixis, Inc., a genomic based drug discovery company, announced the clinical trial collaboration and agreement with Merck KGaA, and Pfizer in order to evaluate XL092 and avelumab in different forms of locally advanced or metastatic urothelial carcinoma.

Increase in prevalence of urinary tract infection, rise in number of smokers, and surge in medical tourism are anticipated to drive the growth of the urinary tract cancer market. In addition, increasing numbers of bladder cancer research centers has led to the development of innovative technologies and advanced therapy in the healthcare for treatment of urinary tract cancer, thereby propelling the growth of the market.

Moreover, initiatives taken by governments for development of the healthcare infrastructure and rise in awareness about and treatment of cancer are the key factors that boost the growth of the market. Furthermore, an increase in the cost of healthcare and surge in the number of funding for various research centers propel the growth of the market. In addition, surge in number of workers in chemical industry fuel the market growth. These workers are more prone to urinary tract cancer, due to prolonged exposure to various chemical.

The urinary tract cancer market is segmented on the basis of cancer type, treatment type, distribution channel, and region. On the basis of cancer type, the market is divided into bladder cancer, urethral cancer and ureteric and renal pelvic cancer. The bladder cancer segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in healthcare expenditure, advancement in available therapies, and increase in prevalence of bladder cancer.

On the basis of treatment type, the market is classified into chemotherapy, and immunotherapy. The immunotherapy segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in incidence of cancer, a rise in the number of approvals, stringent government regulation and increase in number of smokers. On the basis of distribution channel, the market is classified into retail pharmacy, and online pharmacy. The retail pharmacy segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in number of hospital & oncology centers, rise in prevalence of cancer and rise in the number of drug approval for treatment of cancer.

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global urinary tract cancer market. The COVID-19 pandemic has stressed the healthcare systems in the world. Most hospital and cancer centers have reduced their outpatient capacity and conducting a triage to only select the patients that are in most need of a cystoscopy. This leads to cancellation of many non-essential surgical procedures across the world. A huge number of clinics, hospitals across the globe, were restructured to increase the hospital capacity for the patient diagnosed with COVID-19. According to Future Science OA, in September 2020, it was observed that the admission of a patient for urology, oncology or radiotherapy departments are avoided. Subsequently, this leads to decrease in demand for available therapy of urinary tract cancer and decrease the growth of the market.

KEY FINDINGS OF THE STUDY

• By cancer type, the bladder cancer segment was the highest contributor to the market in 2020.
• By treatment type, the immunotherapy segment was the highest contributor to the market in 2020.
• By distribution channel, the retail pharmacy segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America accounted for a majority of the global urinary tract cancer market share in 2020 and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of bladder cancer, an increase in healthcare expenditure, the presence of key players, availability of advanced therapy for cancer treatment, and advancement in R&D activities in healthcare sector in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of urinary tract cancer, a rise in the number of smokers, initiative taken by the government and surge in in number geriatric population.