The size of the pancreatic cancer market in Europe was worth USD 0.63 billion in 2022 and is estimated to be growing at a CAGR of 6.98 %, to reach USD 0.88 billion by 2027.
Pancreatic cancer is currently the fourth leading cause of death reported in the European Union. Globally, pancreatic cancer is the twelfth most common cancer in men and the eleventh most common cancer in women. The presence of several risk factors with co-morbidities increases the incidence rate. Technologies are underway for the rapid diagnosis of this cancer, resulting in the diagnosis of most patients with advanced-stage pancreatic cancer. This explains the high death rates associated with pancreatic cancer across the globe. According to one report, only 12% -15% of patients are diagnosed early enough to be treated with surgeries, drugs, and chemotherapy. Several lifestyle factors such as alcohol consumption, obesity, drug abuse, and smoking, familial history of pancreatitis, and old age can lead a person to be susceptible to pancreatic cancer.
Advances in technology and medicine are opening up new opportunities for physicians and other health care providers to treat pancreatic cancer better. For example, the adoption of state-of-the-art equipment for diagnosis and the new generation of powerful drugs, which are more effective against cancer cells with lesser side effects. Owing to these factors, there have been longer remissions than with conventional measures. For instance, the massive adoption of high-priced drugs such as Abraxane and Gemzar injection to treat pancreatic cancer are estimated to drive the pancreatic cancer market in the European region.
However, Factors such as difficulty in diagnosing at early stages limited treatment options due to the spread of tumor cells, low success rates of clinical drug trials for anti-cancer drugs, and the high cost associated with treatment. Other reasons that are reportedly hampering the growth of the European pancreatic cancer market are the absence of studies on this type of cancer, unwanted side effects, and high toxicity of the drugs. Due to the unsustainable nature of pancreatic cancer, treatments often given are a combination of surgery, medicines, and chemotherapy, which can lead to a lot of side effects, making it hard on the patients and giving ineffective results to physicians.
This research report on the European pancreatic cancer market has been segmented & sub-segmented into the following categories:
By Treatment Type:
By Cancer Type:
By End User:
Geographically, the European pancreatic treatment market is anticipated to post commendable gains by the end of the forecast period. According to the non-profit organization United European Gastroenterology, pancreatic cancer has the lowest survival rate in the world. The UEG predicts that the number of pancreatic cancer cases and associated deaths could increase by up to 41% by 2035.
The two major European regions holding the market are Germany and France. A well-established healthcare infrastructure, demand for high-priced drugs, and rapid drug approvals are driving the market in Germany. Additionally, public awareness of the disease and symptoms, coupled with continued efforts of regional governments to limit the disease and develop new solutions for treatment will fuel regional growth. Increased healthcare spending for pancreatic cancer treatment is expected to boost this regional market during the forecast period.
In 2020, the French market had experienced respectable growth in the European pancreatic cancer market. This region holds the second largest market share for pancreatic cancer, which can be attributed to factors such as increasing funding for research and development in pancreatic cancer, investing significantly in their health care systems, technological advances, and drug innovations, and growth of the pharmaceutical industry in the region. The unmet needs related to the disease are prompting many multinational companies to invest in the region. These factors, combined with the presence of skilled professionals, will increase the growth of the market.
KEY MARKET PLAYERS:
Companies playing a notable role in the European pancreatic cancer market profiled in this report are Eli Lilly, Amgen, Inc., Celgene Corp., F. Hoffmann-La Roche, Clovis Oncology Inc., Pfizer, Novartis AG, Threshold Pharmaceuticals Inc., Aduro BioTech Inc., Infinity Pharmaceuticals Inc., and NewLink Genetics Corp.
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