Pancreatic Cancer Market Size, Growth, Analysis & Share, 2027
Market Overview
Pancreatic
cancer can be defined as an enlarged tumor, which is generally caused by
malignant cells present in the tissues of the pancreas. This type of cancer is
generally caused due to drinking alcohol, smoking, genetic factors,
radiotherapy in the past, obesity, inflammation of the pancreas, and diabetes
mellitus. It is a type of cancer that starts in the pancreas and is a highly
lethal disease. The global pancreatic cancer market, as per a report by Market
Research Future (MRFR) is touted to register 8.1% CAGR during the forecast
period (2017-2023).
The
dearth of therapeutic approaches for early-stage detection has resulted in
increased incidences of pancreatic cancer. Soaring prevalence of pancreatic
cancer has resulted in germline mutations, thereby causing the defective genes
to pass down to the children from their parents, thus making early detection of
pancreatic cancer important. This has led to the growth of the market across
the globe. Surging demand for targeted therapy is considered another propelling
factor for the pancreatic cancer therapy market. Targeted therapy aims specific
receptors present in the cancerous cells and does not harm the healthy
peripheral cells compared to conventional methods such as chemotherapy.
With
changing lifestyle, the consumption of tobacco has increased. Also, there has
been a surging rate of cigarette smoking, which is likely to enhance the pancreatic cancer market size.
Moreover, rising intake of alcohol, surging rates of obesity, and rising
awareness about several treatment options available in the market are likely to
encourage the market growth in the foreseeable future.
On
the contrary, costly treatment, coupled with the side effects associated with
the treatment of such diseases, are predicted to restrict the market growth.
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Global
Pancreatic Cancer Market: Segmental Analysis
The
pancreatic cancer market has been segmented on the basis of treatment, types,
and end user.
By
type, the pancreatic cancer market is segmented into exocrine pancreas cancer,
endocrine pancreas cancer, and others.
The
treatment segment includes surgery & radiation therapy, chemotherapy,
biologic therapy, targeted therapy, hormone therapy, and others. Of these, the
targeted therapy segment is estimated to gain prominence due to the surging
demand for this treatment method.
The
end users segment comprises research institute, hospitals & clinics, and
others. Of these, the hospitals & clinics segment is predicted to register
a significant share due to the availability of advanced treatment facilities
and favorable reimbursement policies.
Regional
Frontiers
Geographically,
the pancreatic cancer market spans across Europe, America, Asia Pacific, and
the Middle East & Africa.
The
pancreatic cancer market is likely to be dominated by America, mainly due to
the presence of well-developed technology, increased healthcare spending,
rising prevalence of cancer patients, and soaring support from the government
for research and development activities. The presence of industry bigshots in
the region has further propelled the market growth.
Europe
acquires the second position globally and is likely to retain its growth in the
coming years due to increased support from the government for research and
development activities. The high availability of funds for research will
further contribute to the market growth in the region. Countries like France
and Germany are highly investing in the healthcare segment, which has created
new growth opportunities for the market.
The
Asia Pacific will register the fastest growth rate due to the existence of
rapidly evolving healthcare technology, increased expenditure on healthcare,
and surging patient population. Soaring demand for latest treatment methods in
countries like South Korea and India will influence the regional market’s
growth.
Pancreatic Cancer Market Players
·
OncoGenex
Pharmaceuticals Inc. (U.S.)
·
Pharmacyte
Biotech Inc. (U.S.)
·
Diffusion
Pharmaceuticals (U.S.)
·
Oncolytics
Biotech (Canada)
·
Sun BioPharma
·
Inc. (U.S.)
·
Polaris
Pharmaceuticals
·
Clovis Oncology
(U.S.)
·
Eli Lilly and
Company (U.S.)
·
Midatech Pharma
PLC (U.K.)
·
F. Hoffmann-La
Roche AG (Switzerland)
·
Celgene
Corporation (U.S.)
·
Novartis
International AG (U.S.)
·
Amgen, Inc.
(U.S.)
among others are some key companies in the
global Pancreatic Cancer that are listed by MRFR for market research.
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