Report Overview
The Global Pancreatic Cancer Market size is expected to be worth around USD 11.5 Billion by 2033, from USD 3.1 Billion in 2023, growing at a CAGR of 14.1% during the forecast period from 2024 to 2033.
When aberrant cells in the pancreas proliferate and divide uncontrollably it leads to formation of tumor known as pancreatic cancer. Some of the major symptoms of pancreatic cancer includes abdominal pain, weight loss, diarrhea, jaundice, blood clots, etc. The course of treatment usually depends upon the stage of cancer and its location. The common risk factors leading to pancreatic cancer include smoking, obesity, family history of pancreatic cancer, and advanced age.
Growing geriatric population is one of the primary factor influencing pancreatic cancer market as geriatrics are more likely to demand pancreatic cancer therapy because of their slow working immune system. In addition, the scaling recognition by public and private organizations regarding pancreatic cancer, its treatment and developments in molecular biology enhances the value of pancreatic cancer market in recent years. Rising healthcare expenditure aids in development of sector’s infrastructure. In addition, efforts are undertaken by government organizations to strengthen the healthcare infrastructure by fund boosting.
- According to World Health Organization, there will be approximately 2 billion geriatric people by 2050 across the globe.
- According to World Bank, North America had a healthcare spending of 16.4% in the year 2018.
- According to World Economic Forum, North America comprises around 28% of the world economy, affecting the healthcare market. Approximately 17.2% of GDP is spent by US on healthcare expenditure and around 10.6% of GDP is spent by Canada on healthcare.
Key Takeaways
- Based on type, exocrine pancreatic cancer dominates the global pancreatic cancer market owing to the maximum composition of pancreas consisting of exocrine cells.
- Based on treatment type, chemotherapy is the most utilized therapy for treating pancreatic cancer, overshadowing the market in 2023.
- Based on end use, hospitals being highly equipped with each required facilities combined with provision of diverse cancer therapies is mostly preferred by patients.
- Alcohol consumption and smoking cigarettes are the primary factors thriving the global pancreatic cancer market in recent years.
- The side effects associated with chemotherapy and radiation therapy may cause hindrance in market excellence.
- North America encompassing advanced healthcare facilities and rising prevalence of pancreatic cancer, dominates the market in the year 2023.
Type Analysis
Exocrine cells comprising majority of pancreas leads exocrine cancer to dominate the market
Based on type, the pancreatic cancer market is segmented into exocrine and endocrine segments. Amongst these, exocrine segment overshadowed the pancreatic cancer market capturing an astonishing market share of 81.5% in the year 2023.
The supremacy of the segment is by virtue of rising prevalence of exocrine cancer among patients. As maximum portion of pancreas comprise of exocrine cells in the form of exocrine ducts and glands, the cancer cell development begins in pancreatic ducts, subsequently affecting the exocrine part.
Furthermore, rise in advanced technology adoption has resulted to an increase in the diagnosis of pancreatic endocrine cancer. Geriatric population is more susceptible to endocrine pancreatic cancer, which is anticipated to push the pancreatic cancer market in a forward direction.
- According to an article by European Society for Medical Oncology, an estimated 95% of diagnosed cancers are exocrine.
- According to American Cancer Society, the number of people diagnosed with pancreatic neuroendocrine tumors in United States were around 4,300 people in 2022.
Treatment Type Analysis
Chemotherapy is a primary line of cancer treatment
Based on type of treatment employed, the market for pancreatic cancer is disjointed into Chemotherapy, Targeted Therapy, Immunotherapy, Hormone Therapy and other segments. A magnificent market revenue share is accounted by chemotherapy segment, playing its dominant role over pancreatic cancer market.
Being a first line of treatment, notable number of patients suffering from this cancer receive chemotherapy. The segmental growth is enhanced as chemotherapy provides long-term protection from cancer as it eliminates rapidly dividing abnormal cells.
- According to Lancet Oncology report, globally an approximate of 9.9 million cancer patients received chemotherapy in 2018, and an estimated 15 million cancer patients are projected to receive chemotherapy by 2040.
Radiation therapy segment on the other hand, is anticipated to boost higher during the prophecy period. The growth owes to the increasing adoption of advanced technologies in hospitals and clinics for treating cancer patients resulting into the adoption of advanced radiation therapy equipment.
- In August 2022, an agreement was inked by India’s Apollo Proton Cancer Center (APCC) with Ion Beam Applications (IBA), to provide proton-based radiation therapy training for clinicians.
End User Analysis
Hospital segment dominates the pancreatic cancer market
Based on end use, the market fractionates into hospitals, clinics and other segment, with hospital segment accounting a notable market revenue share of 52.7% in the year 2023. The success of the segment is underscored due to increasing number of patients receiving chemotherapy, radiation therapy, and other related treatment at hospitals. Being a primary choice of patients, hospitals have adopted newly emerged technologies to diagnose and treat pancreatic cancers leading to expansion of the market.
Furthermore, another significant market portion is withheld by clinics segment owing to an escalating number of cancer patients visiting clinics for treatment. Therefore, rise in number of clinics available with the provision of chemotherapy and radiation therapy combined with an increase in the privatization for the establishment of clinics contribute to the expansion of clinics’ segment.
- According to Centre for Disease Control and Prevention (CDC), approximately 650,000 cancer patients across the U.S. received treatment at outpatient clinics in 2020.
Key Market Segments
By Type
- Exocrine
- Endocrine
By Treatment Type
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- Hormone Therapy
- Others
By End User
- Hospitals
- Clinics
- Others
Market Drivers
Atrocious habits marks the root cause of pancreatic cancer
The chances of pancreatic cancer scales with the more than enough consumption of red meat, processed meat, high saturated fat containing meals, alcohol, and fructose containing foods and drinks. Amongst these, one of the primary factor leading to acquisition of serious non-communicable diseases such as diverse malignancies, cardiovascular diseases, and liver cirrhosis is consumption of alcohol.
- According to World Health Organization, 3 million deaths across the globe occurs because of alcohol abuse, with 5.3% of all deaths were caused by this and around 13.5% of all deaths between the ages of 20 to 39 are related to alcohol consumption.
Another vital factor pulling the pancreatic market growth includes rising usage of tobacco and addiction of cigarettes. Around 25% of pancreatic cancers are caused by smoking cigarettes as the chances of cancer doubles in smokers in comparison to non-smokers. Along with this, usage of smokeless tobacco products and cigars also prevails towards pancreatic cancer.
Market Restraints
High cost of treatment
The high cost of pancreatic cancer treatment is likely to hinder the market for pancreatic cancer. The high cost of treatment is a result of introducing new drugs by major market players. This fluctuates the priority of patient towards less cost treatment options including herbal therapy.
- According to American Society of clinical oncology, around the USD 23,500 is the average cost of a six-month chemotherapy course. The treatment cost reach the USD 40,000 with the combination of the drug Erlotinib.
Occurrence of severe side effects
Other restraining factors for market growth includes the severe side effects associating chemotherapy drugs such as pain, fever, vomiting, dizziness, frequent bloody bowel movements. In addition to this, other side effects include diarrhea, urinary and bladder problems, change in taste, and shortness of breath associated with radiation therapy.
Opportunities
Rising clinical research and development scales the market reach
The market for pancreatic cancer is highly surrounded by exclusive opportunities owing to the increasing epidemiologic, molecular and basic clinical research leading to ameliorated prevention, diagnosis and treatment. The pharmaceutical business experiences a robust growth due to rising clinical research and development efforts.
In addition to this, the number of drug approval processes up scaled 2010 and 2019, which is around 60% of the drugs approved for marketing. Thus, the market for pancreatic cancer escalates with the growing business for pharmaceuticals due to development and investment in cancer drugs and medicines, providing a lucrative opportunity for pancreatic cancer market growth.
- According to a study in 2019, an approximate of $83 million was spent on clinical research and development activities by pharmaceutical firms, which is around 10 times the money spent in 1980s.
Impact of Macroeconomic factors
The impact of GDP and inflation on pancreatic cancer market is multifaceted and intricate. With the rise in GDP people and government allocate more resources towards healthcare, including cancer treatment and research. A potential increased investment then results in pancreatic cancer research advanced therapies development and ameliorated accessibility to treatment options.
Insurance coverage and reimbursement policies related to treatment is often impacted by changes in GDP and inflation, thereby affecting patients’ access to care, and healthcare professional’s incentives to offer specialized treatments. The cost of medications and healthcare services is also influenced by inflationary pressures, limiting the patients to opt for such costly medications, especially in limited healthcare coverage regions.
Latest Trends
Several advanced innovations are incorporated into pancreatic cancer treatment which assists in improvement of cancer symptoms in patients. Some of these include:
Liquid Biopsies: Monitoring of disease progression and treatment response in pancreatic cancer patients non-invasively liquid biopsy techniques such as Circulating Tumor DNA (cDNA) is usually employed. The technique assists in treatment decisions and identification of potential therapeutic targets as it provides valuable interpretations into tumor dynamics and molecular evolution.
Neoadjuvant and Adjuvant Therapies: Neoadjuvant chemotherapy and radiation therapy regimens are now employed to downsize tumors, enhance resectability rates and minimize the risk of disease recurrence following surgery.
Immunotherapy: Patients dealing with advanced pancreatic cancers have witnessed potential improvements with Immune checkpoint inhibitors, such as pembrolizumab and nivolumab.
Targeted Therapies: Patients with BRCA mutations are effectively treatment through drugs targeting specific molecular pathways, such as PARP inhibitors. KRAS oncogenes are some of the other targeted agents which are being clinically investigated.
Regional Analysis
North America dominated the global pancreatic cancer market with revenue share of 52.3%
North America leads the global pancreatic market capturing a laudable market share of 52.3% in the year 2023. The predominance is highly ascribed towards the advanced healthcare facilities coupled with the adoption of emerging technologies employed in diagnosis by the region. In addition to this, the rising pervasiveness of pancreatic cancer across United States combined with the existence of well-known industry players are bolstering the market growth in North America.
- According to National Institute of Healthcare article, United states dealt with approximately 89,248 people suffering from pancreatic cancer in 2021, with a rate of new cancer incidences around 13.3 per 100,000 men and women per year.
A second largest market portion is occupied by Europe owing to rising incidence of pancreatic cancer across Germany, France, Italy and Spain. Furthermore, the rising R&D investments by major market players, government awareness programs launch and favorable government regulations collectively boosts the market presence in recent years.
- In 2021, Servier Hellas, Pharmaceutique Ltd organized a program at the French Embassy to increase recognition regarding pancreatic cancer across France.
Key Regions and Countries
- North America
- US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
Emerging key players in the market are highly investing in R&D for introduction of novel drugs and therapies for the treatment of pancreatic cancer. In addition, they are focused on implementing the strategic growth policies to increase their market presence. Moreover, they are involved in partnerships, collaborations, and mergers & acquisitions. Biosense, a medical engineering and development company produces cutting edge diagnostics. Rexahn made a contract with Biosense to market its pancreatic cancer treatment in greater China in April 2019.
Top Key Players in Pancreatic Cancer Market
- Novartis AG
- AstraZeneca
- Pfizer Inc.
- Genentech
- Bristol-Myers Squibb Company
- Ipsen Pharma
- TME Pharma
- Erytech Pharma
- Clovis Oncology
- Oncolytics Biotech, Inc.
- Midatech Pharma Plc.
Recent Developments
- In March 2023: LGK-974 for metastatic pancreatic cancer is under phase I of clinical development by Novartis. According to global data, there is around 88% of phase transition success rate (PTSR) benchmark for moving phase I drugs into phase II for metastatic pancreatic cancer.
- In December 2022: FDA approved Pelareorep in conjunction with Roche’s anti-PD-L1 checkpoint inhibitor atezolizumab, the chemotherapeutic agent’s drugs gemcitabine, and nab-paclitaxel formulated by Oncolytics Biotech Inc., for the diagnosis of advanced or metastatic pancreatic ductal adenocarcinoma.
