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Pancreatic Cancer Treatment Market Continues to Grow with Advancements in Technology and Increased Investment
Pancreatic Cancer Treatment Market
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Market Drivers
Technological Advancements: The rise of modern therapies such as chemotherapy, immunotherapy, and targeted therapy has significantly contributed to the growth of this market. Companies like Novartis and research institutions are leading the way with advanced drugs targeting specific aspects of pancreatic cancer. For instance, the FDA granted Orphan Drug Designation to Novartis' NIS793, aimed at treating metastatic pancreatic ductal carcinoma.
Increased Healthcare Expenditure: There has been a significant increase in healthcare spending on pancreatic cancer treatment, particularly in the U.S., where cancer care costs reached USD 08.9 billion in 2020. This rise in expenditure allows for the development and launch of new cancer treatment therapies, contributing to market growth.
Rising Funding and Investments: Government initiatives such as the White House Cancer Moonshot are aiming to reduce the cancer death rate in the U.S. by 50% by 2047. Additionally, non-governmental organizations are stepping up their support for cancer research. For instance, PanCAN recently awarded Oncolytics Biotech, Inc. USD 5 million to further its research on pancreatic cancer treatments.
Market Trends
One of the most notable trends in the market is the rapid advancement in targeted therapy and immunotherapy. These therapies, which specifically target cancer cells while minimizing harm to healthy cells, are becoming more popular due to their effectiveness. Targeted therapies such as KRAS inhibitors have shown promising results in stopping the growth of pancreatic tumors in clinical trials.
Challenges
While the market is growing, there are challenges to address. One significant obstacle is the high cost of cancer therapeutics, which can limit patient access to the best treatments. Additionally, strict regulations on clinical trials make it difficult for new drugs to enter the market quickly. The side effects associated with pancreatic cancer treatments, including nausea and fatigue, also pose challenges for patients undergoing therapy.
Segment Insights
Therapy Types: Chemotherapy remains the largest segment in the pancreatic cancer treatment market, as it is often the first line of defense against the disease. However, immunotherapy is expected to grow at the highest rate, driven by its ability to stimulate the immune system to attack cancer cells. The combination of immunotherapy with other treatments has shown significant promise in clinical trials.
Cancer Types: Exocrine pancreatic cancer, particularly pancreatic adenocarcinoma, dominates the market due to its high prevalence. However, the treatment for endocrine pancreatic cancer is expected to grow rapidly, with increasing awareness and advanced technology driving market expansion.
Diagnostic Tools: Computerized tomography (CT) scans are the leading diagnostic tool for pancreatic cancer, thanks to their non-invasive nature and precision in identifying tumors and planning treatment. CT scan technology continues to evolve, contributing to the early detection and management of pancreatic cancer.
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Pancreatic Cancer Treatment Top Companies and Competitive Landscape
The global pancreatic cancer treatment market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pancreatic cancer treatment solutions.
Some major players included in the global pancreatic cancer treatment market report are:
Eli Lilly and Company
Pfizer Inc
Hoffmann-La Roche Ltd
Merck & Co., Inc.
AstraZeneca
Teva Pharmaceuticals USA, Inc.
PharmaCyte Biotech, Inc.
Novartis AG
Amgen Inc.
Genentech USA, Inc.
Ipsen Pharma
Bristol-Myers Squibb Company
Oncolytics Biotech Inc.
TME Pharma
Mylan N.V.
Sanofi
Zydus Group
Astellas Pharma Inc.
Mayo Clinics
Pancreatic Cancer Treatment Latest Industry Updates
On 27 September 2023, Aitia, the leader in the development and application of Causal AI and Digital Twins to discover and develop new drugs, declared a partnership with the Pancreatic Cancer Action Network (PanCAN), a leading nonprofit organization to fight against pancreatic cancer, in order to expand Aitia's impact and improve new drug discoveries and development for pancreatic cancers.
On 20 October 2023, the Memorial Sloan Kettering Cancer Center (MSK) announced the beginning of phase 2 clinical trial study to test the effectiveness of mRNA vaccine therapy to fight against pancreatic cancer by reducing risk of cancer occurrence after surgical removal of tumors.
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For the purpose of this report, Emergen Research has segmented global pancreatic cancer treatment market on the basis of Therapy Type, Cancer Type, Route of Administration, Diagnosis Type, End-Use, and region:
Therapy Type Outlook (Revenue, USD Billion; 2019-2032)
Chemotherapy
Targeted Therapy
Immunotherapy
Hormone Therapy
Radiation Therapy
Others
Cancer Type Outlook (Revenue, USD Billion; 2019-2032)
Exocrine Pancreatic Cancer
Endocrine Pancreatic Cancer
Route of Administration Outlook (Revenue, USD Billion; 2019-2032)
Oral
Parenteral
Others
Diagnosis Type Outlook (Revenue, USD Billion; 2019-2032)
Blood Test
Biopsy
Imaging Tests
Ultrasound
Computerized tomography (CT) scans
Magnetic resonance imaging (MRI)
Positron emission tomography (PET) scans
Others
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Clinics
Research Institutes
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Look Over transcripts provided by Emergen Research
Pancreatic Cancer Treatment Market Size@ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market/market-size
Pancreatic Cancer Treatment Market Share@ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market/market-share
Pancreatic Cancer Treatment Market Trends@ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market/market-trends
Pancreatic Cancer Treatment Regional Market Demand@ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market/regional-market-demand
Pancreatic Cancer Treatment Market Analysis@ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market/market-analysis
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