Global Bladder Cancer Therapeutics and Diagnostics Market Size

Bladder Cancer Therapeutics & Diagnostics Market Analysis

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.