The steady market revenue growth can be attributed to increasing prevalence of pancreatic cancer in globe, rising number of geriatric population

VANCOUVER, BRITISH COLUMBIA, CANADA, June 7, 2024 /EINPresswire.com/ -- The global pancreatic cancer treatment market size reached USD 2.45 Billion in 2022 and is expected to register a revenue CAGR of 15.6% during the forecast period. The global pancreatic cancer treatment market is experiencing steady revenue growth, propelled by rising cases of pancreatic cancer, an increasing elderly population, and heightened healthcare spending. Key drivers of this growth include rapid advancements in cancer treatment technologies, increased funding from governmental and non-governmental organizations, and the growing focus on research and development activities.

Pancreatic cancer, characterized by uncontrolled cell growth in the pancreas, primarily manifests as pancreatic adenocarcinoma, which originates in the exocrine cells. This type of cancer accounts for a significant portion of pancreatic cancer cases globally.

Click To get SAMPLE PDF (Including Full TOC, Graphs & Charts, Table & Figures)@ https://www.emergenresearch.com/request-sample/2872

Technological Advancements in Cancer Treatment

Technological progress in the pharmaceutical and biotechnology sectors has significantly enhanced pancreatic cancer treatments. Modern therapies such as chemotherapy, immunotherapy, and targeted therapy are leading this advancement. For instance, on July 27, 2021, Novartis received Orphan Drug Designation from the U.S. FDA for NIS793, an antibody for treating metastatic pancreatic ductal carcinoma. This innovation reflects the industry's commitment to developing more effective treatments for pancreatic cancer.

Increased Healthcare Expenditure and Research Initiatives

The rise in healthcare spending for pancreatic cancer treatment is another major growth driver. According to a 2020 article in Cancer Epidemiology, Biomarkers & Prevention, the national costs for cancer care in the U.S. were estimated at $208.9 billion. This financial commitment enables biopharmaceutical companies to invest heavily in pancreatic cancer treatments. Notably, on September 26, 2023, the Pancreatic Cancer Action Network awarded Oncolytics Biotech, Inc. $5 million for further research into new treatment options.

Government and Non-Government Funding

Funding and investments from both government and non-government entities are crucial for market growth. On September 13, 2023, President Joe Biden and First Lady Jill Biden announced new actions to advance the White House Cancer Moonshot initiative, aiming to reduce the U.S. cancer death rate by 50% by 2047.

Advancements in Treatment Processes

The market is also benefiting from significant advancements in treatment processes, particularly in targeted therapy, immunotherapy, and cell therapy. These treatments offer precise targeting of cancer cells, sparing healthy tissues, which makes them highly effective. For instance, on December 6, 2022, Penn Medicine’s Abramson Cancer Center reported success in using targeted therapy to shrink tumors in preclinical models of pancreatic cancer.

Get An Impressive Discount On This Report@ https://www.emergenresearch.com/request-discount/2872

Challenges and Restraints

Despite these advancements, the high cost of therapeutics poses a significant challenge. Additionally, the possibility of side effects from treatments and strict regulatory requirements for clinical trials also hinder market growth. High dosages of drugs can harm healthy cells, causing side effects such as hair loss and fatigue, which negatively impact market acceptance.

Market Segmentation Insights

Therapy Type: Chemotherapy remains the dominant segment due to its effectiveness in targeting rapidly dividing cancer cells. Immunotherapy is expected to see the highest growth, driven by its potential to harness the body's immune system to fight cancer.

Cancer Type: Exocrine pancreatic cancer is the most prevalent, accounting for over 95% of cases. Significant investments are being made in developing new treatments for this type, as evidenced by recent FDA approvals and ongoing clinical trials.

Diagnosis Type: Computerized Tomography (CT) scans lead the diagnostic segment due to their non-invasive nature and effectiveness in medical imaging. Innovations in AI technology for early detection further enhance this segment's growth potential.

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 News

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.

Buy Now@ https://www.emergenresearch.com/select-license/2872

Pancreatic Cancer Treatment Market Segment Analysis

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

For more informative information, please visit us @ https://www.emergenresearch.com/industry-report/pancreatic-cancer-treatment-market

Look Over transcripts provided by Emergen Research

Fiber Based Packaging Market

https://www.emergenresearch.com/industry-report/fiber-based-packaging-market

Edutainment Market

https://www.emergenresearch.com/industry-report/edutainment-market

Dental Bone Graft Market

https://www.emergenresearch.com/industry-report/dental-bone-graft-market

E-commerce Market

https://www.emergenresearch.com/industry-report/e-commerce-market

Acrylonitrile Market

https://www.emergenresearch.com/industry-report/acrylonitrile-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.