PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1604459
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1604459
Global pancreatic cancer treatment market is projected to witness a CAGR of 14.40% during the forecast period 2024-2031, growing from USD 2.52 billion in 2023 to USD 7.39 billion in 2031. The market's growth is bolstered by the rising cases of pancreatic cancer, increasing investments in research and development activities by leading healthcare organizations, and growing drug development efforts by leading pharmaceutical companies. The increasing prevalence of pancreatic cancer can be attributed to various factors, including obesity, alcohol consumption, unhealthy lifestyle, and genetic factors, among others.
The rapid expansion of the global pancreatic cancer treatment market can also be attributed to the rising requirement for effective therapeutic options for managing pancreatic cancer, advancements in treatment technologies, and rising awareness about the condition. The limited symptom detection and late-stage diagnosis of the condition contribute to the high mortality rate of pancreatic cancer, thus creating an urgent requirement for innovative and effective treatments.
Additionally, leading market players and pharmaceutical companies are significantly investing in developing potential cancer breakthroughs, providing lucrative growth opportunities to the global pancreatic cancer treatment market. Over the past year, Eli Lilly and Company, AstraZeneca PLC, and Bristol-Myers Squibb Company have spent approximately USD 10 billion on radiopharmaceutical partnerships and collaborations. Pharmaceutical companies believe that delivering radiation directly to tumors will be the next breakthrough in cancer treatment. Radiopharmaceuticals work by attaching the targeting molecules that search and attach to specific biomarkers on the cancer cells with the radioactive material. Similarly, in December 2023, Novartis AG invested approximately USD 85 million (600 million yuan) in a radioligand facility in China. Currently, the company is exploring new combination therapies, ligands, and isotopes to look beyond prostate cancer and gastroenteropancreatic neuroendocrine tumors and into lung, colon, breast, and pancreatic cancer. The investment towards the planned capacity expansion is expected to bolster pipeline development, strengthen the existing portfolio, prepare for launches, and accelerate the production of novel therapies.
Rising Prevalence of Pancreatic Cancer Boosts Market Demand
The growing burden of the condition in different regions across the globe is one of the major factors bolstering the global pancreatic cancer treatment market demand. With the increasing prevalence of risk factors for pancreatic cancer across the globe, the cases of pancreatic cancer continue to rise, augmenting the requirement for effective therapeutic solutions. As per the estimates of the World Cancer Research Fund International, in 2022, there were more than 510,992 new cases of pancreatic cancer across the globe. Pancreatic cancer has a high mortality rate; because of this, healthcare systems worldwide are focusing on addressing the condition, and the development of effective therapeutic solutions for the disease is becoming a priority.
Increasing Investments in Research Activities Support Market Expansion
The rising investments in research activities in different research institutions across the globe to support the development of therapies for treating pancreatic cancer are expected to influence the market's expansion positively. Investments towards research and development activities are rapidly increasing to address the unmet requirements of pancreatic cancer, with a wide range of research organizations focusing on combination treatments and innovative therapies. Additionally, a significant increase in explore clinical trials exploring new drug candidates with the potential to improve patient outcomes, including immunotherapies and targeted therapies, are being witnessed, further supporting the market's expansion. Moreover, various non-profit and government organizations are also actively funding new therapies for pancreatic cancer. In May 2024, Walter and Eliza Hall Institute of Medical Research received a USD 8 million investment to create a dedicated research center and spearhead new treatments for pancreatic cancer in Australia. The Hemstritch Centre of Excellence for Pancreatic Cancer Research will provide a leading team of clinicians and scientists with funding to make progress in pancreatic cancer treatments, considered the second deadliest cancer in Australia. Such investments are expected to support the development of the next generation of therapies and provide lucrative growth opportunities for the market.
Chemotherapy Accounts for Significant Market Share
The growth of the segment can be attributed to the rising cases of pancreatic cancer, as chemotherapy is used as the first line of treatment for the condition. Cases of pancreatic cancer are usually diagnosed at an advanced stage, where treatments are limited, and chemotherapy is the primary treatment option available for the management of symptoms and controlling the progression of the disease. Although pancreatic cancer is often unresponsive to various treatments, several chemotherapies have been shown to prolong survival and slow down disease progression.
In September 2024, Silexion Therapeutics announced the results from the phase 2 PROTACT trial (NCT01676259). The trial showed that adding siG12D LODER to the standard-of-care chemotherapy improved overall survival and generated responses compared to chemotherapy alone in patients with KRAS G12D/V mutations.
Meanwhile, radiation therapy is expected to grow significantly over the forecast period. In August 2023, researchers from the University of Texas MD Anderson Cancer Center published their multicenter EXTEND trial findings. The results demonstrated that the addition of metastasis-directed radiation therapy to standard chemotherapy improves progression-free survival in patients suffering from oligometastatic pancreatic cancer. The addition of targeted radiation therapy increased the average progression-free survival by four times, showcasing the paradigm-shifting approach of the treatment for metastatic pancreatic cancer.
North America Holds Major Market Share of the Global Market
The rising cases of pancreatic cancer in the region, coupled with the strong presence of leading pharmaceutical companies and robust healthcare infrastructure, are propelling the growth of the North American pancreatic cancer treatment market. As per the estimates of the American Cancer Society, approximately 66,440 cases of pancreatic cancer are projected to be diagnosed in the United States in 2024. Additionally, the availability of government health insurance such as Medicaid and Medicare for qualifying individuals in the country increases the accessibility of the patient population suffering from chronic conditions, including pancreatic cancer, to various treatment options, further bolstering the market's demand in the region. Moreover, the presence of various organizations, such as the National Pancreatic Cancer Foundation (NPCF), that provide information to patients about medical providers and hospitals in their area along with additional assistance, including counseling, are also supporting the market's expansion. Furthermore, the easy availability of novel therapies and the high acceptance of novel treatment technologies in countries such as Canada and the United States are also positively influencing the expansion of the pancreatic cancer treatment market in the region.
Future Market Scenario (2024-2031F)
As per the global pancreatic cancer treatment market analysis, the market is expected to witness significant growth over the forecast period owing to the rising cases of pancreatic cancer and increasing investments by leading pharmaceutical companies toward the development and production of developing and producing novel therapeutic agents. As per the estimates of an article published in the World Journal of Gastroenterology, in 2050, pancreatic cancer incidences are estimated to increase to 18.6 per 100,000.
The major MedTech and biotech companies are also developing advanced diagnostic solutions to allow early-stage detection of pancreatic cancer, further augmenting the requirement for pancreatic cancer treatments. Advancements in immunotherapy, increasing research and development activities, and growing preference for targeted therapies are also expected to shape the market's landscape. Meanwhile, leading pharmaceutical companies across the globe are continuously working on assessing the safety and efficacy of a wide range of therapies for treating pancreatic cancer. For instance, Ono Pharmaceutical Co., Ltd. is conducting an interventional study to investigate the safety and tolerability of ONO-4538 and ONO-7913 in combination with modified FOLFIRINOX as a first-line treatment for metastatic pancreatic cancer. The study is expected to conclude in May 2025.
Key Players Landscape and Outlook
The key players in the market are actively investing in mergers and acquisitions to advance the development of pharmaceuticals for treating various cancer types. In May 2024, Mariana Oncology, Inc. (Mariana Oncology), a biotechnology company focusing on the innovation of radiopharmaceuticals for treating cancer patients, announced that they have been acquired by Novartis AG (Novartis) for up to USD 750 million in potential milestone payments and USD 1 billion upfront. This acquisition brings together Novartis's commercialization expertise and Mariana Oncology's innovative radiopharmaceutical pipeline, aiding the companies in transforming cancer care. This acquisition is also expected to provide Novartis with new capabilities in radioligand therapeutic research and complement their internal drug discovery and research efforts.
The leading market players are also working on introducing novel drugs for addressing the growing threat of pancreatic cancer. The continuous efforts of pharmaceutical companies across the globe to bolster the availability of treatment options for patients with pancreatic cancer are also supporting the market's expansion, with various drugs receiving approvals from different regulatory bodies. In February 2024, Ipsen Biopharmaceuticals, Inc.'s irinotecan liposome (Onivyde) with leucovorin, oxaliplatin, and fluorouracil was approved by the FDA as first-line treatment for metastatic pancreatic adenocarcinoma. The approval was supported by the results of NAPOLI 3, an open-label, randomized, active-controlled, and multicenter trial.
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Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.