Pancreatic Cancer Market overview
The Pancreatic Cancer Market is anticipated to reach USD 2,430.43 Million by 2030 at 7.40% CAGR during the forecast period 2022-2030. Pancreatic cancer is quickly becoming a global scourge now that more and more people around the world are adopting Western lifestyles. There are two different categories of pancreatic cancer: endocrine and exocrine.
The bad news about any type of pancreatic cancer is that it can easily metastasize by traveling through the blood system. It becomes deadly at this stage. There is more bad news because it’s not easy to treat any type of pancreatic cancer once it’s metastasized.
COVID-19 analysis of Pancreatic Cancer Market
COVID-19 was a virus that changed the nature and destiny of the world! Governments around the world realized that it was a deadly virus and declared the world to be in a pandemic. They responded by trying to contain the virus through quarantines and lockdowns. Since these had limited effects, they were soon lifted.
The global pancreatic cancer market was negatively affected. This was because people suffering from pancreatic cancer were unable to get the proper diagnosis and care needed to treat the disease. Doctors’ offices were shut down for the most part, and they weren’t seeing patients. Hospitals were overwhelmed with COVID-19 patients, and they were, therefore, unable to treat pancreatic cancer patients properly!
The increased prevalence of smoking (especially in developing nations) was a key culprit behind the dramatic increase in people with pancreatic cancer. However, the fact that more and more people were smoking or using tobacco products was also a major contributing factor. There is lots of evidence that shows that excessive consumption of alcohol can cause pancreatic cancer.
Advances in technologies and medicine are giving doctors and other health providers new opportunities. For example, they are now able to use cutting-edge equipment to diagnose more people earlier on. They are also able to use a new generation of powerful drugs that are much more effective at targeting and destroying cancer cells. This means that patients go into remission faster and stay in remission for longer than with conventional and/or older medicines.
Treating pancreatic cancer is expensive. Many people in developed nations (even those with good insurance policies) find that it is difficult to afford treatment for pancreatic cancer. This is holding the overall CAGR from 2017 to 2023 back. The fact that most people in developing nations don’t have insurance and can’t afford the treatments is another major factor.
Perhaps the biggest challenge that the global pancreatic cancer market will face lies in ensuring that effective treatments are available to the masses - especially those who live in developing nations. But health care providers also struggle with finding ways to ensure that most people who need pancreatic cancer therapies and treatments can afford them!
Cumulative growth analysis
The CAGR for the global pancreatic cancer market is 8.1%. This began in 2017 and is expected to continue until at least the end of 2023.
Oncogenenx pharmaceutical is a major player in the global pancreatic cancer market. It is achieving phenomenal success by developing a new generation of medicines that are more effective in helping people quit smoking. Remember that smoking is a key cause of pancreatic cancer. It has developed some powerful medicines towards this end. One such medicine is Cytisincline.
Figure: Global Pancreatic cancer Market, By Region Market Share, 2016 (%)
Sources: Annual reports, Press release, White paper, Company presentation
Pancreatic Cancer Market Segment overview
Pancreatic Cancer type Outlook
The global pancreatic cancer market can be segmented into the following groups based on type:
- Endocrine pancreatic cancer
- Exocrine pancreatic cancer
Pancreatic Cancer treatment Outlook
The global pancreatic cancer market can be segmented into the following groups based on treatment:
- Surgery and radiation therapy
- Targeted therapy
- Biologic therapy
- Hormone therapy
The chemotherapy treatment segment can be divided further into antimetabolites, anthracyclines, taxanes, and finally, alkylating agents.
The targeted therapy segment can be divided further into tyrosine kinase inhibitors and monoclonal antibodies.
The hormone therapy segment can be divided further into estrogen-receptor modulators, aromatase inhibitors, and others.
Pancreatic Cancer end-user Outlook
The global pancreatic cancer market can be segmented into the following groups based on end-user;
- Hospitals and clinics
- Research institutes
- Other entities
The global pancreatic cancer market can be divided into the following regions:
- The Americas
- The European Union
- Asia Pacific
- The Middle East and North Africa
The Americas have the highest global pancreatic cancer market share of all of the regions in the world. It is because it’s home to the United States of America and Canada. These two nations have superior research facilities and the money to afford the expensive equipment and medicines needed to successfully treat pancreatic cancer. They also have the superior and developed medical infrastructure to do so. The United States of America and Canada are also home to some of the best hospitals in the world. These hospitals are in the best position to treat people with pancreatic cancer effectively.
The research facilities in the United States and Canada also have been pouring millions of dollars into the research and development needed to successfully develop a new generation of effective drugs and therapies. Most of the major companies that do research in the area of pancreatic cancer are also in this region.
The European Union has been witnessing growth that’s at least respectable in the global pancreatic cancer market. This region has the second-largest pancreatic cancer market share. The main reason for this is because European governments and the European Union in general supports advances in pancreatic cancer research and the development of new medicines and therapies through lots of funding and other types of support.
Two major European heavyweights are Germany and France. These two nations are substantially increasing the funding that they are allocating to research and development in the area of pancreatic cancer research. These two nations are also investing substantially more in their respective health care systems.
The Asia-Pacific region is witnessing phenomenal investments in better technologies and medicines for treating pancreatic cancer. Also, because of heavy smoking and increased tobacco usage, the number of people who are being diagnosed with pancreatic cancer is increasing dramatically.
The two major nations in the Asia-Pacific region are India and China, respectively. These two nations have huge populations at 1.4 billion and 1.3 billion people, respectively. They are also rapidly urbanizing and have huge economies that are growing quickly. The result is that these governments have much more money to invest in their national and regional healthcare systems.
South Korea is expected to see huge growth in the pancreatic cancer market. This is largely because many people smoke in this part of the world.
The global pancreatic cancer market is expected to languish in terms of overall regional CAGR in the Middle East and North African regions. The main reasons why are because screening is neither widespread nor prevalent. What further compounds this problem is the fact that most people who live in this region have no idea what pancreatic cancer is. Also, there are few hospitals in this region, and most people can’t afford to be treated at these hospitals.
Pancreatic Cancer Market Competitive landscape
The global pancreatic cancer market is very competitive. One of the main reasons why is that its high CAGR combined with the fact that treatment is very expensive makes pancreatic cancer market very lucrative. This is many enticing companies with lots of money to enter into the market every year. The result is that it’s hard for a single company to generate substantial revenue in any given year.
Many companies are responding by entering into joint ventures (also called strategic partnerships.) These allow the participating companies to have access to more money and other resources than they otherwise would. They can enter into new markets successfully. They can also consolidate and grow pancreatic cancer market share and position in existing markets.
Some companies are merging with/acquiring others. The resulting companies are ‘lean and mean machines’ with access to many resources - monetary, technology, and otherwise. This helps them enter into new markets successfully. It also helps them consolidate and grow pancreatic cancer market share and positions in existing markets.
Achieve Life Science is a major American company. It has succeeded by investing millions into a new generation of medicines and sophisticated therapies that are designed to help people who smoke quit immediately. The fact that Achieve Life Science is giving back to the community has increased its popularity.
List of companies
- Pharmacyte Biotech Inc. (U.S.),
- ncoGenex Pharmaceuticals Inc. (U.S.),
- Oncolytics Biotech (Canada),
- Diffusion Pharmaceuticals (U.S.),
- Polaris Pharmaceuticals, Inc. (U.S.),
- Sun BioPharma, Inc. (U.S.),
- Midatech Pharma PLC (U.K.),
- Eli Lilly and Company (U.S.),
- Celgene Corporation (U.S.),
- F. Hoffmann-La Roche AG (Switzerland),
- Amgen, Inc. (U.S.),
- Novartis International AG (U.S.),
- Clovis Oncology (U.S.),
- Oncogenex Pharmaceuticals entered into a strategic partnership with another company in the industry. The resulting company was renamed Achieve Life Sciences.
The global pancreatic cancer market is growing at a CAGR of 8.1. This is expected to continue for the next two years. The increased usage of tobacco and alcohol products is driving the growth. Companies are responding by investing heavily in the research and development needed to come up with a new generation of therapies and medicines.
USD 2,430.43 Million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Types, Treatment And End User
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Pharmacyte Biotech Inc. (U.S.), OncoGenex Pharmaceuticals Inc. (U.S.), Oncolytics Biotech (Canada), Diffusion Pharmaceuticals (U.S.), Polaris Pharmaceuticals, Inc. (U.S.), Sun BioPharma, Inc. (U.S.), Midatech Pharma PLC (U.K.), Eli Lilly and Company (U.S.), Celgene Corporation (U.S.), F. Hoffmann-La Roche AG (Switzerland), Amgen, Inc. (U.S.), Novartis International AG (U.S.), Clovis Oncology (U.S.), and others.
Key Market Opportunities
Research and Development
Key Market Drivers
High incidence of cancers
Frequently Asked Questions (FAQ) :
The Global Pancreatic Cancer Market can grow at 7.40% CAGR from 2022-2030.
High incidence of cancers is the major driver of the Global Pancreatic Cancer Market.
High costs of treatment and lack of medical reimbursement policies can hamper the Global Pancreatic Cancer Market growth.
The Americas can dominate in the Global Pancreatic Cancer Market due to large number of patients with cancer and encouraging support from governments.
F. Hoffmann-La Roche AG, Amgen, Inc., Polaris Pharmaceuticals, Inc., Novartis International AG, Eli Lilly and Company, Oncolytics Biotech, Sun BioPharma, Inc., Pharmacyte Biotech Inc., Celgene Corporation, OncoGenex Pharmaceuticals Inc., Clovis Oncology, Midatech Pharma PLC, and Diffusion Pharmaceuticals are prominent players of the Global Pancreatic Cancer Market.
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