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The global pancreatic cancer treatment market size was valued at USD 2.15 billion in 2021 and is projected to grow from USD 2.48 billion in 2022 to USD 6.85 billion by 2029, exhibiting a CAGR of 15.7%. Based on our analysis, the global market exhibited an average growth of 6.3% in 2020 as compared to 2019.
Pancreatic cancer is one of the leading causes of cancer death globally. The increasing incidence of this cancer across the U.S. and other parts of the world is one of the factors driving the need for the drugs used in the treatment.
Moreover, the prevalence is significantly higher in the geriatric population compared to other types of cancers. Thus, an increase in the geriatric population is one factor driving the pancreatic cancer treatment market growth. The incidence is significantly higher in the geriatric population above 65 years of age compared to other types of cancers. The increase in the number of patients suffering from the condition has increased the demand for the drugs used in treatment. These are some factors driving the growth during the forecast period
Companies engaged in manufacturing cancer drugs have increased their focus on R&D activities to develop new drugs for pancreatic cancer treatment. Additionally, the companies operating in the market have received approval from several regulatory bodies, such as the U.S. Food and Drug Administration (FDA), the Medicines and Healthcare Products Regulatory Agency (MHRA) (U.K.), among others, thereby propelling the growth of the market. Moreover, new testing technologies are being adopted by hospitals and diagnostic centers to diagnose cancer. The increase in the diagnosis rates is driving the demand for drugs, thereby providing opportunities for the players.
Significant Decline in Cancer Screening and Patient Visits during COVID-19 Pandemic Slowed Down Market Growth
The number of patient visits for cancer screening declined during the pandemic owing to the presence of limited personnel performing these procedures. Moreover, the governments of several countries introduced new regulations, thereby leading to a decline in surgical and diagnostic procedures to reduce the spread of COVID-19. Moreover, several patients canceled their chemotherapy and radiation therapy appointments due to the risk of infection. The cancellation of the appointment led to a decline in the demand for medicines. This led to a decline in the sale of the drugs used for pancreatic type of cancer treatment.
However, revoking lockdown restrictions, introducing products by key players in the market, and re-establishing the supply chain network increased the demand for drugs for the treatment of cancer in 2021. Moreover, the number of cancer patient visits began returning to normal owing to higher vaccination coverage among the general population, the introduction of COVID-19 protocols in public places, the dismissal of restrictions for travel, and others. This led to an increase in demand for pancreatic cancer treatment drugs.
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Presence of Potential Pipeline Products to Drive the Market Growth
Shifting the focus of key players in extensive R&D activities to develop new drugs and an increase in funding for cancer research led to the development of new drugs for treatment. Additionally, several pharmaceutical companies are involved in clinical trials to develop new drugs and explore the potential of the molecule to treat the disease.
Thus, with the increased funding for R&D activities, companies are focused on developing new drugs, thereby contributing to the overall rise in demand for drugs for pancreatic type of cancer treatment.
Increasing Prevalence of Pancreatic Cancer to Augment Market Growth
The prevalence has increased significantly in the past few years, leading to an increase in the adoption of several treatment options.
The increasing incidence among the population, coupled with government initiatives, is expected to propel the adoption of pancreatic cancer treatment drugs.
Thus, increasing aging population and rising government initiatives to create awareness for the diagnosis of the condition are some factors propelling the market growth.
High Cost and Side Effects Associated with Treatment Likely to Hinder Market Growth
The constant focus of market players on introducing new drugs has resulted in an increase in the cost of pancreatic cancer treatment. This has led to a shift in patient preference toward alternative treatment options, such as herbal therapy, which costs less than regular treatment.
This along with side effects associated with chemotherapy drugs such as pain, fever, dizziness, vomiting, and frequent bloody bowel movements are limiting their adoption. Additionally, shortness of breath, diarrhea, urinary and bladder problems, and changes in taste are some of the side effects associated with radiation therapy, which are likely to hamper the market growth.
Thus, the high cost associated with treatment and adverse reactions associated with chemotherapy and radiation therapy is expected to limit the market growth in the forecast period.
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Increasing Adoption of Advanced Technologies for Diagnosis to Drive the Market Growth
Based on type, the market is classified into exocrine and endocrine.
The exocrine segment captured the largest market share in 2021. Exocrine cancer is more prevalent among patients. The majority of the pancreas is composed of exocrine cells forming the exocrine glands and ducts. The cancer cell development in the pancreas's ducts affects the pancreas's exocrine part. Cancer cell development occurs less in the endocrine part of the pancreas. Thus, owing to these factors, the diagnosis and the prevalence of exocrine pancreatic cancer are significantly high.
The increase in adoption of advanced technologies and increasing awareness among consumers regarding pancreatic endocrine tumors among the population are driving the growth of the segment.
Moreover, the increase in adoption of new technologies has led to an increase in the diagnosis of pancreatic endocrine cancer. Moreover, pancreatic endocrine tumors are more prevalent in the geriatric population. Thus, the increase in geriatric population, coupled with the increase in number of patients suffering from pancreatic neuroendocrine tumors, is expected to drive the growth of the segment.
Increasing Adoption of Chemotherapy Drugs is expected to drive the Market Growth
Based on treatment type, the market has been segmented into chemotherapy, radiation therapy, and others.
The chemotherapy segment constituted the largest market share in 2021. Chemotherapy is used as the first line of treatment. Many patients suffering from this cancer receive chemotherapy, which provides long-term cancer protection. It eliminates the rapidly dividing abnormal cells and involves the application of chemicals and lasers to eradicate all diseased cells.
The radiation therapy segment is expected to grow during the forecast period. An increase in the adoption of advanced technologies across hospitals and clinics to treat cancer patients has led to the adoption of advanced radiation therapy equipment.
Thus, owing to these factors, the demand for radiation therapy is anticipated to rise in the coming years.
Shifting Consumer Preference toward Hospitals to Propel the Segment Growth
Based on end-user, the market is classified into hospitals, clinics, and others.
Hospitals segment captured the largest market share in 2021. The majority of the patients receive primary care at hospitals. The segment's growth is primarily attributed to the increase in number of patients taking chemotherapy, radiation therapy, and other treatments at hospitals. The adoption of new technologies by hospitals for the diagnosis and treatment of this condition is expected to drive the growth of the segment.
The clinics segment accounted for a significant market share in the global market. The increase in the number of cancer patients visiting clinics for treatment is propelling the growth of the segment.
Thus, an increase in the number of clinics providing radiation therapy and chemotherapy and an increase in the privatization for the establishment of clinics contribute to expanding the clinic’s segment.
North America Pancreatic Cancer Treatment Market Size, 2021 (USD Billion)
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The market in North America was valued at USD 1.01 billion in 2021. The presence of advanced healthcare facilities and the adoption of new technologies used in diagnosis constitute the growth of the market in the region. Additionally, the increase in prevalence of the condition across the U.S. and the presence of established players in the region are propelling the growth of the pancreatic market in the region.
Europe held the second-largest pancreatic cancer treatment market share. The prevalence of the condition is significantly high across Germany, France, Italy, and Spain. The growth in the region is attributed to the increase in R&D investment by major players, favorable government regulations, and the launch of awareness programs by the government are some of the factors propelling the market growth in the region.
Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. The rising prevalence, improvement in healthcare infrastructure, and increase in the number of pharmaceutical companies developing products for pancreatic cancer treatment are some of the factors propelling the growth of the region.
The market in the Middle East & Africa and Latin America is likely to grow at a slower pace. The increase in the geriatric population and the increase in prevalence of the condition are accelerating the market growth in the region.
Strong Focus on Collaborations by Key Players to Strengthen their Market Position
In terms of the competitive landscape, majority of the global market share is held by AstraZeneca, Pfizer Inc., and Novartis AG. These companies are the leading players offering innovative drugs. The major factors responsible for the leading position in the market are the regulatory approval for new products, product launches, mergers, and acquisition of the competitive players. Additionally, PharmaCyte Biotech, Inc. and Clovis Oncology are also some of the key players operating in the market. Moreover, an increase in investment in the development of advanced products has enabled AstraZeneca to hold a leading position in the market.
Moreover, Novartis AG is also focused on establishing collaborations and agreements with other players to bolster its presence across other countries.
An Infographic Representation of Pancreatic Cancer Treatment Market
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The research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, type, treatment type, and end-user. Besides this, the market analysis highlights key industry developments and insights into market trends.
Value (USD billion)
By Type, Treatment Type, End-user, and Region
By Treatment Type
Fortune Business Insights says that the global market stood at USD 2.15 billion in 2021 and is projected to reach USD 6.85 billion by 2029.
In 2021, the market stood at USD 2.15 billion.
Growing at a CAGR of 15.7%, the market will exhibit faster growth during the forecast period (2022-2029)
The endocrine segment is expected to be the leading segment in the market during the forecast period.
Increasing prevalence of the condition and the introduction of new drugs will drive the market.
Pfizer Inc., AstraZeneca, and Novartis AG are the top players in the market.
North America is expected to hold the highest market share.
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