Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Pancreatic Cancer Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The pancreatic cancer drugs market size is expected to see steady growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth in the forecast period can be ascribed to an increase in cancer incidence rates, a surge in healthcare expenditure, and growing government support. Notable trends expected during this period include a concentration on the development of new drugs for pancreatic cancer treatment, an emphasis on novel nanomedicine treatment, an increase in investments, a strategic focus on collaborations, and a dedication to product innovations.
The anticipated growth of the pancreatic cancer drugs market is driven by the increasing prevalence of pancreatic cancer. The elevated number of pancreatic cancer cases is expected to boost the demand for drugs, consequently fueling market growth. The surge in cancer instances is largely attributed to factors such as an aging population and a growing number of people dealing with obesity. For example, the American Cancer Society estimates that in 2023, approximately 64,050 individuals (33,130 men and 30,920 women) will receive a pancreatic cancer diagnosis, and about 50,550 people (26,620 men and 23,930 women) will succumb to pancreatic cancer.
Government initiatives and funding focused on pancreatic cancer are poised to drive further growth in the pancreatic cancer drugs market. Such governmental support involves providing financial assistance to selected entities with projects or ideas contributing to the enhancement of public services and the overall economy. This support is particularly crucial for pancreatic cancer research aimed at improving the quality of life and survival rates for patients with this condition. As an illustration, in July 2021, the National Cancer Institute, a US-based government agency, allocated 218.1 million US Dollars for pancreatic cancer research. Therefore, the impetus provided by government initiatives and funding is a significant driver of growth in the pancreatic cancer drugs market.
An ongoing trend in the pancreatic cancer drugs market is the preference for combination therapy over monotherapy. Recognizing the potential to enhance drug efficacy and improve the survival rates of patients with pancreatic cancer, major players in the market are increasingly exploring the combination of two or more drugs. Companies such as Rafael Pharmaceuticals have initiated pivotal Phase 3 trials, such as AVENGER 500, combining CPI-613 (delimitate) with Modified FOLFIRINOX as a first-line treatment for patients with Metastatic Pancreatic Cancer. Apexigen, Inc., a clinical-stage biopharmaceutical company, is also investing in combination therapy, presenting new clinical data on APX005M for patients with metastatic pancreatic cancer.
A selection of companies mentioned in this report includes
- Bristol-Myers Squibb Company
- Pfizer Inc.
- AstraZeneca PLC
- F. Hoffmann-La Roche AG
- Novartis AG
- Abbvie Inc.
- Merck & Co., Inc.
- Teva Pharmaceutical Industries
- Amgen Incorporation
- Eli Lilly And Company
- Beigene
- Chi-Med
- Cstone Pharmaceuticals
- Voxtur Bio Ltd
- Shantu Pharma
- Krushi Mitra
- Kremedine Health Private Limited
- Arlak Biotech
- Healthkind Labs Pvt. Ltd
- Swisschem Healthcare Pvt Ltd
- Apikos Pharma
- Kolaz Biotech
- Aqvida Gmbh
- Baxter International Inc (Uk)
- Glaxosmithkline Plc
- Veropharm
- Biocad
- Celon Pharma
- Celgene Corporation
- Johnson & Johnson
- Bayer Ag
- Eurofarma Laboratorios S.A
- Tuteur Argentina
- Neopharma Llc
- Tabuk Pharmaceuticals
- Julphar Life Sciences
- Eurolab
- Sanofi
- Aspen
- Zahraa Oncology
- Adcock Ingram
For more information about this report visit https://www.researchandmarkets.com/r/wx1c4m
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