Pancreatic Cancer Market Size Will Expand to USD 7.40 BN by 2032

Ottawa, July 04, 2023 (GLOBE NEWSWIRE) -- The pancreatic cancer market was valued at USD 2.05 billion in 2022. Globally, the pancreatic cancer market is increasing due to rising cancer prevalence, change in lifestyle, for example increase in the consumption of alcohol and smoking. Additionally, the increasing research and development attributed to increased treatments options for pancreatic cancer is expanding the growth of the market.

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Type landscape

Based on the type of targeted pancreatic cancer market is fragmented into chemotherapy, targeted therapy, immunotherapy, hormone therapy and others. Chemotherapy is expected to grow in the forecast period. The benefits of the targeted therapy are vast, attributed to the growth of the market. For example, alteration of proteins with cancer cells, indicating the immune system in attacking the cancer cells, blocking, or turning off signals that allow the cancer cells to grow and preventing the new vessels from forming and cutting off the blood supply to the tumor. Additionally, as the targeted therapy targets proteins of the cancer cells, the designed treatments are better and more accurate. Furthermore, there are several targeted therapies for pancreatic cancer approved by Food and Drug Administration (FDA), for example, ROZLYTREK (entrectinib), Erlotinib, Lynparza (olaparib), Afinitor (everolimus), Sutent (sunitinib). 

Furthermore, there is an increase in the clinical trials employing targeted therapy for pancretic cancer treatment, for instance, the study by Washington University school of Medicine in collaboration with National Cancer Institute, CCR2 PET for Pancreatic Cancer Imaging and Prediction of Response to Standard and CCR2-Targeted Therapy. It is an ongoing interventional clinical trial. As a result, the increase in clinical research in targeted therapy for cancer is expanding the growth of the market. 

End-user landscape

Based on the end-users, pancreatic cancer market is fragmented into hospitals, specialty clinics and others. Hospitals are expected to grow in the forecast period. Health insurance coverage, administrative processes, cost-effective care, and perceived state of health are all driving factors for patients to go to hospitals. Due to the patient convenience, and the size of the health industry itself, health insurance is easily accessible in hospital settings. Additionally, oncology treatments require real care and access to contemporary technology, both of which are available in the hospital setting, which raises market demand.   

Furthermore, Furthermore, due to a lack of resources, treatments like radiation therapy, immunotherapy, and chemotherapy are not offered in a clinic setting. The multispecialty hospitals, on the other hand, provide all forms of cancer treatment, and the doctors and oncologists provide precisely the right diagnosis and care. The patients at government hospitals can also take advantage of extra perks like funding and insurance. As a result, the market is growing primarily due to the hospital sector, particularly in the area of cancer treatment.  

Regional landscape of Global Pancreatic cancer market 

By region, Asia-Pacific is expected to grow in the forecasted period. Large population suffering from cancers, increase in the clinical research and development programs, increased government funding, critical oncology care centers private as well as government and growing numbers of pancreatic cancer cases are the driving factors of the growth of pancreatic cancer market in this region. For example, In India, programs like International Cancer Genome Consortium (ICGC) DBT India Project, Systems Medicine Cluster (SyMeC), Kalyani Cluster and new initiatives with government partnerships, for example, Virtual Network Centres in Cancer Immunology & Cancer Immunotherapy, DBT-AIIMS-NCI India Translational & Clinical Research Partnership Centre, DBT DAE NCG are taking place in improvisation and inculcation of new cancer innovations and treatments.  

Similarly in China, there are many clinical research and trials going on for the pancreatic cancer treatment, the drug combination chemotherapy is majorly employed and according to the statistics, around 45 clinical trials on pancreatic cancer treatment in China are ongoing ad followed by 40 in Japan. More research supported by government funding in China has supported the biological behavior of pancreatic cancer and achieve successful treatment. As a result, the nations in Asia-Pacific with rising research and development are expanding the growth of the market.

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Scope of this report

Market Dynamics 

Market Drivers: Increasing investment for healthcare 

There is an overall increase in healthcare investments by about all nations. The factors influencing the investments in healthcare include the rising proportion of lifestyle diseases, aging and growing population, lifestyle changes, adoption of digital and emerging technologies, pharmaceutical collaborations, increasing research and development, telemedicine. Post covid many research organizations and governments have invested in healthcare for innovation of new drugs and treatments. For example, cancer is a big health issue and according to the study, there are estimated 20 million cases of cancer and 10 million deaths. As a result, the budget by government for cancer treatment and research is rapidly growing and the increasing investments and funding are the driving factors for the growth of market. 

Market Restraint: Excessive cost of pancreatic cancer treatment. 

The oncology diagnosis and treatments are comparatively costlier than other treatments because of its precise treatment, drugs, and technology. Also, pancreatic cancers are costly to treat due to its direct costs including palliative treatment as pain therapy. Furthermore, among gastrointestinal cancers, the second highest generating treatment is pancreatic cancer. Therefore, pancreatic cancer is directly and indirectly costly and shows a significant economic burden. As a result, the inflated cost of pancreatic cancer treatment hinders the expansion of the market's growth. 

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Recent developments 

• March 2023, Astellas Pharma is currently in Phase II of the clinical development of zolbetuximab for the treatment of metastatic pancreatic adenocarcinoma. 
  
  
• February 2023, Amgen is currently in Phase II of the clinical development of AMG-193, which is being used to treat pancreatic cancer. GlobalData states that the phase transition success rate (PTSR) indication benchmark for Phase II drugs for pancreatic cancer is 26% before moving on to Phase III. 
  
  

Key players 

1. Pfizer Inc. 
2. F. Hoffmann-La Roche Ltd 
3. AstraZeneca 
4. Teva Pharmaceutical Industries Ltd 
5. Bayer AG 
6. Amgen Inc. 
7. Astellas Pharma Inc. 
8. Novartis AG   
9. Eli Lilly and Company 
10. Astellas Pharma Inc. 

Segments covered in the report:

By Type

• Chemotherapy
• Targeted therapy
• Immunotherapy
• Hormone therapy
• Others
  
  

By End-users

• Hospitals
• Speciality Clinics
• Home care
• Others

By Region

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • GCC
    
    

Rest of LAMEA

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