Pune, India, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The global pancreatic cancer treatment market size was worth USD 2.15 billion in 2021 and is slated to rise from USD 2.48 billion in 2022 to USD 6.85 billion by 2029, at 15.7% CAGR during forecast period.
One of the top causes of cancer-related deaths worldwide is pancreatic cancer. One of the factors boosting the demand for the pharmaceuticals used in the treatment is the rising incidence of this malignancy in the U.S. and other parts of the world. For instance, 56,654 new cases of pancreatic cancer were reported in the U.S. in 2020, according to a GLOBOCAN article. In addition, cancer contributed to 47,683 fatalities in the U.S.
Fortune Business Insights™ presents this information in a report titled, “Pancreatic Cancer Treatment Market, 2022-2029."
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Pancreatic Cancer Treatment Market Report Scope & Segmentation :
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 15.7% |
| 2029 Value Projection | USD 6.85 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 2.15 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 147 |
Key Takeaways :
- A drug used for pancreatic cancer treatment, generated a revenue of USD 819.0 million in 2020 and witnessed a decline of 13.0% compared to USD 936.0 million in 2019.
- According to the survey done by NCBI, several healthcare centers performed fewer pancreatic surgeries due to the COVID-19 pandemic, which reduced the weekly pancreatic resection rate from 3 to 1.
- Clovis Oncology published the data from the Rubraca (rucaparib) Phase 2 study in advanced pancreatic cancer, demonstrating the safety and efficacy of (rucaparib) in platinum-sensitive patients.
- According to GlOBOCAN, around 14,461 new cases of pancreatic cancer were detected in France in 2020. The rate of incidences of new cases of this cancer was 7.9 per 100,000 men and 4.6 per 100,000 women in France.
- According to an article published by the European Society for Medical Oncology, approximately 95% of diagnosed cancers are exocrine.
Key Industry Development:
June 2022 – Panavance Therapeutics Inc. bagged the orphan drug designation from the U.S. FDA for the GP-2250, a drug used for pancreatic cancer treatment.
Drivers and Restraints
Rising Burden of Pancreatic Cancer Drives the Market Forward
The adoption of numerous treatment approaches has increased as a result of the huge prevalence of pancreatic cancer over the past few years. For instance, 21,859 new cases of pancreatic cancer were reported in Germany in 2021, according to an NCBI article. Some of the reasons contributing to the growth in instances of this cancer include the rise in tobacco use and cigarette smoking.
GlOBOCAN estimates that France saw 14,461 new cases of pancreatic cancer in 2020. In France, there were 7.9 new instances of this cancer for every 100,000 men and 4.6 new cases for every 100,000 women.
COVID-19 Impact:
Fewer Patients and Reduced Staff Capacity Impacted Market Dynamics
Due to the shortage of people performing these procedures during the pandemic, fewer patients visited for cancer screenings. Additionally, the governments of various nations passed new laws, which reduced the need for surgical and diagnostic procedures to stop the spread of COVID-19. In addition, a number of patients postponed chemotherapy and radiation therapy visits due to the possibility of infection. The appointment was canceled, which resulted in a decrease in demand for medications. As a result, fewer medications used to treat pancreatic cancer were being sold.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:
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Segments
By Type, Exocrine Segment to Capture Maximum Market Share through 2029
Based on type, the market share is classified into exocrine and endocrine. The exocrine segment held the largest market share in 2021 owing to higher preference rate.
By Treatment Type, Chemotherapy Segment to Experience Maximum Demand in Future
Based on treatment type, the market is segmented into radiation therapy, chemotherapy, and others. Among these, the chemotherapy segment is slated to experience major demand owing to wide use as the first line of treatment.
By End-user, Hospitals to Hold Major Market Share During 2022-2029
In terms of end-user, the market is divided into clinics, hospitals, and others. Hospitals segment is anticipated to witness maximum demand owing to rising consumer preference for chemotherapy and radiation therapy across hospitals.
On the basis of geography, the market has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
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Regional Insights
North America Dominates Owing to Cutting-edge Medical Infrastructure
In 2021, the North American market size hit USD 1.01 billion. The pancreatic cancer treatment market growth in the region is attributed to the existence of cutting-edge medical facilities and the implementation of new technology for diagnostics. Along with these factors, the presence of well-established competitors in the region and the rising prevalence of the ailment across the U.S. are fostering the expansion of the market there.
Meanwhile, Europe is anticipated to hold the second-largest pancreatic cancer treatment market share. Germany, France, Italy, and Spain all have a notably high prevalence of the illness. The region's growth is ascribed to an increased in R&D spending by key businesses, favorable government legislation, and the introduction of government-sponsored awareness campaigns, among other factors.
Competitive Landscape
Strong Products Portfolio Helps Key Players Sustain Market Dominance
AstraZeneca, Pfizer Inc., and Novartis AG have the majority of the global market share for pancreatic cancer treatment, due to their cutting-edge medications. The regulatory approvals of new products, product launches, mergers, and acquisitions of rival companies are the main drivers of the market's current leadership position. Additionally, two more of the major companies in the market are PharmaCyte Biotech, Inc. and Clovis Oncology. Additionally, AstraZeneca has been able to maintain a dominant position in the market due to increased investment in the development of cutting-edge drugs.
List of the Companies Profiled in the Market:
- AstraZeneca (U.K.)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Genentech (F. Hoffmann-La Roche Ltd) (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Ipsen Pharma (France)
- Oncolytics Biotech, Inc. (Canada)
- TME Pharma (Germany)
- Erytech Pharma (France)
- Clovis Oncology, Inc. (U.S.)
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Incidence of Pancreatic Cancer (2021) - For Key Countries
- Key Industry Developments – Key Mergers, Acquisitions, and Partnerships
- Technologies used in the Diagnosis of the Pancreatic Cancer
- Impact of COVID-19 on the Global Pancreatic Cancer Treatment Market
- Global Pancreatic Cancer Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Exocrine
- Endocrine
- Market Analysis, Insights and Forecast – By Treatment Type
- Chemotherapy
- Radiation Therapy
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Market Analysis, Insights and Forecast – By Type
- North America Pancreatic Cancer Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Exocrine
- Endocrine
- Market Analysis, Insights and Forecast – By Treatment Type
- Chemotherapy
- Radiation Therapy
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Type
- Canada
- By Type
- U.S.
- Market Analysis, Insights and Forecast – By Type
- Europe Pancreatic Cancer Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Exocrine
- Endocrine
- Market Analysis, Insights and Forecast – By Treatment Type
- Chemotherapy
- Radiation Therapy
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Germany
- By Type
- U.K.
- By Type
- France
- By Type
- Spain
- By Type
- Italy
- By Type
- Scandinavia
- By Type
- Rest of Europe
- By Type
- Germany
- Market Analysis, Insights and Forecast – By Type
Toc Continue…
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Frequently Ask Question :
What is the market size for pancreatic cancer treatment ?
Fortune Business Insights says that the global pancreatic cancer treatment market stood at USD 2.15 billion in 2021 and is projected to reach USD 6.85 billion by 2029.
What is the key factor driving the market?
Increasing prevalence of the condition and the introduction of new drugs will drive the market.
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