Pancreatic Cancer Treatment Market is Expected to Reach $3.62 bn by 2027
The Pancreatic Cancer Treatment Market was valued at US$ 2.08 billion in the year 2019 and is estimated to reach US$ 3.62 billion by 2027, at a CAGR of 7.17%.
According to the World Cancer Research Fund & American Institute for Cancer Research, Pancreatic cancer is 12th most common type of cancer occurring in women and the 11th most common type occurring in men, worldwide. According to SEER cancer statistics, pancreatic cancer is more prevalent in men aged more than 50. Several contributing factors such as smoking, chronic infections, diabetes, environmental hazards, chronic pancreatitis, hereditary, age, ethnicity, etc. lead to the development of pancreatic cancer, of which majority of pancreatic cancer initiates from the exocrine cells that secrete digestive juices when compared to the endocrine cells. The exocrine pancreatic cancer segment dominates the market share compared to the endocrine segment.
Further, pancreatic cancer is difficult to diagnose as the organ itself resides behind the major organ stomach and it difficult for visualization. Besides, the symptoms of pancreatic cancer are similar to the symptoms associated with other common disorders and no viable symptoms can be noticed during the early stages. This results in the diagnosis only during the later stages which make treatment difficult. Chemotherapy, radiation and surgery are the viable treatment options with a 5-year survival rate of less than 10%. Alternative treatments include Folfirinox and Abraxane in combination with Gemcitabine. Besides, Onivyde is gaining popularity to be used in the treatment.
The rise in the prevalence of obesity, alcoholism, smoking and geriatric population contributes to the rise of pancreatic cancer cases contributing to the growth of the market. Besides, a genetic mutation associated with exposure to several environmental hazards also plays a crucial role in the development of pancreatic cancer.
According to American Society of Clinical Oncology, in 2019 alone, it is estimated that more than 56000 adults will be diagnosed with pancreatic cancer, of which the ratio of men to women will be 1:0.9. With more prevalence of pancreatic cancer in the region, North America is expected to dominate during the forecast period from 2019-2027, similar to 2018, with more than 33% market share. Also, the region has the presence of key market players, well-established health infrastructure, R&D investments, acceptance to novel treatment methodologies, etc. Though having more incidences of pancreatic cancer patients in the European region with Hungary topping the global list, the number of patients in the US outnumbers the market. Asia Pacific region with an incidence rate of approximately 4.9 cases per 100,000 individuals is expected to contribute more towards the market share. This can be attributed to the larger population, the emergence of more critical care centres and hospitals. However, the cost of treatment, the ineffectiveness of the treatment, the lesser 5-year survival rate is expected to hamper the market growth.
This study provides the latest insights on the industry trends, products & pipeline along with country, regional and global revenue forecast till the year 2026. The analysis of the market is segmented into affected area (exocrine and endocrine); treatment (chemotherapy, targeted therapy and others) and region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
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The major players in the market include Clovis Oncology; Celgene Corporation; Eli Lilly and Company; F. Hoffmann-La Roche AG; Amgen, Inc; Novartis AG; PharmaCyte Biotech, Inc.; Teva Pharmaceutical Industries Ltd.; Merck & Co., Inc.; Newlink Genetics; Infinity Pharmaceuticals, Pfizer, Inc., and many more…
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Pancreatic Cancer Treatment Market, 2015 to 2018
- Forecast of the Pancreatic Cancer Treatment Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Pancreatic Cancer Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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