The global pancreatic cancer therapeutics market is estimated to grow at a CAGR of 7.54% from 2023 to 2028. As a result, the size of the market is projected to be worth USD 4 billion by 2028 from USD 2.78 billion in 2023.
Pancreatic cancer is caused by the uncontrolled growth of cells in the pancreas. This abnormal, unrestrained growth of cells results in the formation of lumps of tissue, widely referred to as tumors. The presence of tumors prevents the normal functioning of the pancreas. Pancreatic cancer is identified as the uncontrolled growth of cells, i.e., malignant cells in the pancreas tissues. The malignant cells lead to tumor formation in the pancreas, which deters the organ's normal functioning. The occurrence and mortality rate of pancreatic cancer is more in men than in women. SEER estimates that pancreatic cancer accounts for around seven percent of the total cancer deaths in the U.S. annually.
The increasing pervasiveness of pancreatic cancer in developed nations due to the absence of therapeutic procedures for early-stage detection pushes the pancreatic cancer market.
According to the American Society of Clinical Oncology (ASCO), 62210 adults from the United States are expected to be diagnosed with pancreatic cancer in 2022. The significant incidence of pancreatic cancer that initiates germline mutations is also expected to accelerate the market's growth rate. In addition, the growing demand for targeted therapy is another factor propelling the growth of the pancreatic cancer market. Targeted therapy singles out receptors in the cancer cells and does not affect the body's healthy peripheral cells, unlike conventional therapeutic' methods like chemotherapy. The increasing pervasiveness of pancreatic cancer and the demand for targeted therapy drive the market.
NCI Sponsored research projects to support market growth.
There are several funded research projects by the national cancer institute dedicated to developing drugs and treatments for pancreatic cancer. Some examples of the funded projects are the Pancreatic Cancer Cohort Consortium, Pancreatic Cancer Detection Consortium (PCDC), Pancreatic Cancer Microenvironment Network (PaCMEN), Pancreatic Ductal Adenocarcinoma (PDAC) Stromal Reprogramming Consortium (PSRC), RAS Initiative, Pancreatic Specialized Programs of Research Excellence (Pancreatic SPOREs), etc.
These programs have individual aims and motives and develop unique solutions for the disease. For example, the Pancreatic Specialized Programs of Research Excellence (Pancreatic SPOREs) is an initiative designed to integrate fundamental scientific discoveries into clinical settings swiftly. The Pancreatic SPORE grants promote innovative and various methods for preventing, detecting, diagnosing, and treating pancreatic cancer. Research on pancreatic cancer is also done by two of NCI's G.I. SPOREs.
Affordable and efficient technologies for the timely diagnosis of pancreatic cancer are yet to develop fully. Therefore, most pancreatic cancer patients are diagnosed at an advanced level of the disease. In the advanced stage of pancreatic cancer, the therapy options are limited, leading to high mortality rates. These factors are restricting the growth of the market for pancreatic cancer therapeutics. In addition, surveys show that only a tiny percentage (about 12% to 15%) of patients are diagnosed immediately enough to be treated with surgical methods, drugs, and chemotherapy.
Impact of COVID-19 on the global pancreatic cancer market:
The covid-19 pandemic has significantly impacted the global Pancreatic Cancer Treatment Market due to cancer patients being more prone to coronavirus. Thus, they require more professional care and assistance. The Coronavirus disease (COVID-19) pandemic is disrupting our health environment. As expected, studies highlighted the great susceptibility of cancer patients to COVID-19 and more severe complications, leading oncologists to rethink patient cancer care deeply.
Market Size Available
2022 to 2028
2023 to 2028
By Type, Treatment Type, End Users, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
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.
This research report on the global pancreatic cancer market has been segmented and sub-segmented based on the cancer type, treatment type, end-users, and region.
Pancreatic Cancer Market - By Cancer Type:
Based on the cancer type, most pancreatic cancer patients diagnosed worldwide belong to the exocrine class. Therefore, the segment currently governs the market. Although less common, the endocrine type of cancer still anticipates effective treatment modalities. In addition, the investment in research and development is significant in both types of cancers. However, the growing prevalence and increasing reach of innovative techniques in developing countries are anticipated to drive the exocrine segment's growth during the forecast period.
Pancreatic Cancer Market - By Treatment Type:
Therapeutic segments like Surgery and radiology are expected to dominate the market during the forecast period due to the prevalence of these procedures. This segment dominance can also be attributed to the popularity of targeted drugs and novel biologic therapeutics. In addition, personalized care systems are supporting the expansion of the segment.
Pancreatic Cancer Market - By End User:
Based on end-user, the Hospital segment is the significant revenue-generating segment in the global pancreatic cancer therapeutics market, which is supposed to continue in the forecast years. The hospital segment is dominating due to the rapid influx of patients in hospitals due to qualified medical professionals and the availability of multiple facilities. In addition, hospitals also have better infrastructure and widespread reach, due to which the market is growing.
However, the clinical and research segment is also expected to grow during the forecast period. The growing opening of several clinics for healthcare worldwide promotes segment growth. Additionally, growing research and development activities toward cancer and government funding promote the segment's growth.
Pancreatic Cancer Market - By Region:
Globally, the North American pancreatic cancer market held the dominating share of the global market in 2022. This is because the prevalence of pancreatic cancer is higher in North American countries, with the U.S. having the highest number of cancer patients worldwide. As a result, North America dominated the pancreatic cancer treatment industry, with the largest revenue share in 2019. It is mainly attributed to the improved healthcare infrastructure, high adoption of pancreatic treatment procedures, and a large target population. Besides, an increasing incidence of pancreatic cancer is aggressively propelling the demand for treatment options.
The pancreatic cancer market in Europe is expected to be the second-largest market for pancreatic cancer.
The Asia-Pacific pancreatic cancer market is anticipated to be the fastest-growing region globally. On the other hand, Asia Pacific is expected to witness the fastest growth during the forecast period. The presence of well-established hospitals, critical care centers, and a large population suffering from pancreatic cancer would boost the market's development in the Asia Pacific region. Furthermore, with the growing number of pancreatic cancer cases in the Asia Pacific, the diagnosis and treatment of pancreatic cancer must adhere to the same regimen as in Western countries.
The Latin American pancreatic cancer market captured a considerable share of the global market in 2022.
The pancreatic cancer market in MEA is predicted to grow at a steady CAGR during the forecast period.
KEY MARKET PLAYERS:
A few of the major companies operating in the global pancreatic cancer market profiled in the 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.
RECENT MARKET DEVELOPMENTS:
The global pancreatic cancer market size was valued at USD 2.41 billion in 2021.
Yes, we have studied and included the COVID-19 impact on the global pancreatic cancer market in this report.
North America had domination in the global market in 2021.
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. are some of the notable companies in the market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]