Pancreatic Cancer Market revenue to reach USD 36 Billion by 2036, says Research Nester
Key pancreatic cancer market players include Amgen Inc., Novartis AG, Pfizer Inc., Aduro Biotech Inc., Clovis Oncology Inc., NewLink Genetics Corp., Infinity Pharmaceuticals, Inc., and Celgene Corporation.
New York, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The global pancreatic cancer market size is slated to expand at ~18% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 36 billion by the end of 2036, up from a revenue of ~USD 6 billion in the year 2023.The incidence of pancreatic cancer is increasing globally, which is driving the growth of the market. As of 2023, the American Cancer Society predicts that 64,050 Americans will be diagnosed with pancreatic cancer (33,130 men[R1] , 30,920 women).
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It is estimated that 50,550 people will die from pancreatic cancer (26,620 men and 23,930 women). Pancreatic cancer is an aggressive form of cancer, and it is often not detected until it is in an advanced stage. Additionally, the treatment options for pancreatic cancer are limited, and the survival rate is low. These factors are contributing to the rise in pancreatic cancer cases, which in turn is driving the growth of the pancreatic cancer market.
*Advancements in Diagnosis and Treatment to Boost Market Growth*
Advancements in diagnosis and treatment options for pancreatic cancer are also driving the growth of the market. As researchers gain a better understanding of the different types of pancreatic cancer, they are developing more targeted treatments that are more likely to be effective with fewer side effects. New diagnostic tools, such as liquid biopsies and imaging techniques, are improving the accuracy of diagnosis and enabling earlier detection of the disease. A liquid biopsy involves sampling and analyzing circulating tumor cells (CTCs[R2] ), small extracellular vesicles (sEVs), and tumor DNA (ctDNA) from body fluids. Additionally, new treatment options, such as immunotherapy and targeted therapies, are improving patient outcomes and extending survival rates.
*Pancreatic Cancer** Market: Regional Overview*
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
*Increased Incidence Of Obesity And Diabetes to Drive the Growth in the North America Region*
The pancreatic cancer market in North America is garner the largest revenue by the end of 2036 due to several demographic changes, including an aging population and increased incidence of obesity and diabetes. In the US, there are 37.3 million diabetics (11.3[R3] % of the population); 28.7 million are diagnosed with diabetes, including 28.5 million adults. As the population ages, there will be a higher prevalence of chronic diseases such as diabetes and obesity, which are risk factors for pancreatic cancer. Additionally, the aging population will lead to an increase in the number of people with pre-existing conditions that can increase the risk of developing pancreatic cancer. Obesity and diabetes are known risk factors for pancreatic cancer, and as these conditions become more prevalent, the number of cases of pancreatic cancer is expected to increase.
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*Growing Awareness About The Disease And Availability Of Advanced Treatments to Drive the Growth in the Asia Pacific Region*
The Asia Pacific pancreatic cancer market is estimated to garner the largest revenue by the end of 2036. This is due to its increasing prevalence in the countries in the region, coupled with the growing awareness about the disease and availability of advanced treatments. Several organizations and governments in Asia Pacific have launched campaigns and initiatives to raise awareness about pancreatic cancer. For example, the Singapore Cancer Society launched the "Pancreatic Cancer Awareness Month" campaign in November 2020, which aimed to educate the public about the symptoms and risk factors of pancreatic cancer. This has led to an increase in diagnoses, and this increased demand for diagnosis and treatment will drive the market.
*Pancreatic Cancer** Segmentation by Type*
· Targeted Therapy
The chemotherapy segment is anticipated to hold the largest revenue by the end of 2036. This is due to its relatively high success rate compared to other treatments, its high cost, and its availability in most of the countries around the world. Additionally, the growing prevalence of pancreatic cancer, the increasing demand for personalized cancer treatments, and the technological advancements in chemotherapy such as CRISPR[R4] , artificial intelligence, telehealth, the Infinium Assay, cryo-electron microscopy, and robotic surgery are expected to drive the growth of the chemotherapy segment. Furthermore, the rising investment by pharmaceutical companies in the development of pancreatic cancer drugs is also expected to fuel the growth of the chemotherapy segment.
*Pancreatic Cancer** Segmentation by Affected Areas*
The exocrine segment is anticipated to hold the largest revenue by the end of 2036. As the exocrine cells of the pancreas are responsible for producing enzymes that help break down food, they are also the main cells affected by pancreatic cancer. As the prevalence of exocrine cancers increases, the demand for treatments and diagnostics for pancreatic cancer also increases. In 2022, more than 90% of[R5] pancreatic cancers around the world were estimated to be exocrine tumors. Additionally, exocrine pancreatic cancers are often more aggressive and difficult to treat than endocrine pancreatic cancers, so the need for better treatments and diagnostics is even greater.
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A few of the well-known industry leaders in pancreatic cancer market that are profiled by Research Nester are Amgen Inc., Novartis AG, Pfizer Inc., Aduro Biotech Inc., Clovis Oncology Inc., NewLink Genetics Corp., Infinity Pharmaceuticals, Inc., Celgene Corporation., and other key market players.
*Recent Development in the Market*
· U.S. Food and Drug Administration approved Amgen Inc.'s new drug that targets KRAS mutations. The treatment is the first developed to treat KRAS cancers, which are often diagnosed in colon, lung, and pancreatic cancers.
· NIS793 was granted Orphan Drug Designation ODD by the United States Food and Drug Administration along with standard chemotherapy care for pancreatic cancer treatment by Novartis AG.
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