According to The Insight Partners market research study titled ‘Pancreatic Cancer Therapy Market – Global Analysis and Forecasts By Type, Therapy, the global pancreatic cancer therapy market is expected to reach US$ 4,056.4 Mn in 2025 from US$ 2,011.2 Mn in 2017. The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global pancreatic cancer therapy market and the factors driving the market along with those that act as deterrents to its growth.
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Global pancreatic cancer therapy market, based on the type was segmented into endocrine pancreatic cancer and exocrine pancreatic cancer. In 2017, the exocrine pancreatic cancer segment held the largest share of the market, by type. The exocrine pancreatic cancer segment is expected to grow at the fastest rate during the coming years as this cancer is majorly occurring cancer type among the two and thus is expected to have massive patient pool over the forecast years.
The market for pancreatic cancer therapy is expected to grow due to rise in number of patients suffering with pancreatic cancer, increasing healthcare expenditures for pancreatic drugs, and increase in number of therapies launched in the market are boosting the market over the years. In addition, development of efficient therapy for pancreatic cancer treatment are likely to have a positive impact on the growth of the pancreatic cancer therapy market in the coming years.
The major players operating in the pancreatic cancer therapy market include Eli Lilly and Company, F. Hoffmann-La Roche AG, Celgene Corporation, Amgen Inc., Novartis AG, Pharmacyte Biotech Inc., Clovis Oncology, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Merck & Co., Inc. among others. For instance, in May 2018, Eli Lilly and Company acquired AMRO BioSciences. AMRO BioSciences is engaged into number of drugs for cancer. The clinical trial explores a drug (pegilodecakin) which is ongoing for the pancreatic cancer. The drug is into phase III of the clinical trials. The developments performed by the companies are helping the market to grow in the coming years.
Rise in Number of Patients Suffering with Pancreatic Cancer
Pancreatic cancer is one of the aggressive cancers that originate in the tissues of the pancreas and rapidly spreads to the nearby organs. Pancreatic cancer is the 12th most commonly occurring cancer in the world. According to the American Cancer Society, ~55,440 patients in the US are expected to be diagnosed with pancreatic cancer in 2018. Moreover, the ACS also reports that pancreatic cancer is the third leading cause of death related to cancer in the US and is expected to be the second leading cause of death by 2020. According to Cancer Research UK, approximately 9,921 new cases of pancreatic cancer were diagnosed in the UK in 2015, while 8,912 patients died due to same cancer. The cancer is almost always fatal and thus demands potential therapies for the patients’ treatment. For instance, the American Cancer Society suggests that pancreatic cancer accounts for approximately 3% of deaths of all cancers in the US. According to the National Institute of Health, an estimated of 68,615 patients in 2015 were living with pancreatic cancer in the US. The increasing incidence and prevalence of pancreatic cancer are expected to increase the demand for drugs, therapies, and treatment of patients. Moreover, the rising number of patients results in advancements in molecular biology and chemical drug formulation. Thus, a huge pool of patients who have pancreatic cancer is expected to increase the growth of the global pancreatic cancer therapy market over the forecast years.
The report segments the global pancreatic cancer therapy market as follows:
Global Pancreatic Cancer Therapy Market – By Type
Global Pancreatic Cancer Therapy Market – By Therapy
Global Pancreatic Cancer Therapy Market – By Geography
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