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Pancreatic Cancer begins when abnormal cells in the pancreas grow and divide out of control and form a tumor. The presence of tumors prevents the normal functioning of the pancreas. The occurrence and mortality rate of pancreatic cancer is more in men than in women. Pancreatic cancer starts when the cells start growing abnormally and results in symptoms such as abdominal pain, weight loss, diarrhea, jaundice, blood clot, etc. The biggest risk factor, which leads to pancreatic cancer, is smoking. Other risk factors include pancreatitis, obesity, family history of pancreatic cancer, and older age. Treatment for pancreatic cancer depends on the stage and location of the cancer as well as on overall health and personal preferences. Treatment may include surgery, radiation, chemotherapy or a combination of these. When pancreatic cancer is advanced and these treatments aren't likely to offer a benefit, the doctor offers symptom relief (palliative care).
Key Market Driver -
Rising prevalence of cancer, increasing cigarette smokers, growing obesity rates
Key Market Restraint -
High costs and side effects related to treatment of pancreatic cancer
Rising rates in tobacco consumption, increasing cigarette smokers are likely to enhance the growth of pancreatic cancer market. Additionally, rising prevalence of cancer, increase in intake of alcohol, growing obesity rates, and growing awareness pertaining to various treatment options available are anticipating the market growth at a global level. According to GLOBOCAN 2018 estimates, pancreatic cancer is 11th most common cancer in the world and about 458,918 new cases were reported globally in 2018.
However high costs, and the side effects related to the treatment of pancreatic cancer are likely to hamper the growth of pancreatic cancer market.
By type, the market is segmented into exocrine pancreatic cancer and endocrine pancreatic cancer. Based on treatment, the market is segmented into chemotherapy, radiation therapy, immunotherapy, targeted drug therapy, and others. Based on end users, the pancreatic cancer treatment market is segmented into hospitals, specialty clinics, research laboratories, and others.
Based on geographic standpoint, the market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
Some of the major companies that are present in the pancreatic cancer treatment market are Novartis AG, Eli Lilly and Company., F. Hoffmann-La Roche Ltd., PharmaCyte Biotech, Inc., CLOVIS ONCOLOGY, CELGENE CORPORATION, Teva Pharmaceutical Industries Ltd., and other prominent players.
Among the type, exocrine pancreatic cancer segment is projected to hold a considerable share of the global pancreatic cancer treatment market during the forecast period as there is high prevalence of exocrine pancreatic cancer. According to an article published by Patient Platform Limited, 95% pancreatic cancers diagnosed in the world belong to exocrine category, thus the segment dominates the market. The endocrine type of cancers are less prevalent.
North America is projected to dominate the global pancreatic cancer treatment market over the forecast period, followed by Europe. The dominance of this region is mainly attributed to the improved healthcare infrastructure, high adoption of pancreatic treatment procedures, and the presence of large patient population. In addition, increasing incidence of pancreatic cancer is increasing the demand for treatment options.
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On the other hand, Asia Pacific is expected to witness the fastest growth during the forecast period. Presence of well-established hospitals and critical care centers, expanded interest for developing novel treatment options as well as large population suffering from pancreatic cancer drive the growth of the market in Asia Pacific region. Latin America and Middle East America are also expected to have a substantial growth in the pancreatic cancer treatment market.
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