The global pancreatic cancer therapy market is expected to reach US$ 4,056.4 Mn in 2025 from US$ 2,011.2 Mn in 2017. The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global pancreatic cancer therapy market and the factors driving the market along with those that act as restraints to its growth. The global pancreatic cancer therapy market is witnessing a sheer rise in the current scenario and is expected to expand in the coming years. Increasing healthcare expenditures for pancreatic drugs is one of the major factor to propel the demand of pancreatic cancer therapy market. However, low success rate of treatments is expected to hinder the market growth.
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Pancreatic cancer is often referred to as one of the most deadly form of cancer and is known to be a “silent cancer”. The cancer is very difficult to be detected at the earlier stages and is diagnosed at later stages where it is difficult to be completely cured. The cancer is detected only when the tumor grows to a significant size, by when the tumor is already metastasized in various parts of the body. According to an article published in Scientific American, only 10-15% of patients suffering from pancreatic cancer are diagnosed at a stage that can be considered for a surgery. According to the American Cancer Society, pancreatic cancer treatment had failed to cure approximately 95% patients suffering with the disease till 2015. The low success rate of treatments of pancreatic cancer therapy market is expected to restrain the growth of the market during the forecast period.
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The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global pancreatic cancer therapy market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to due to increasing healthcare expenditures for pancreatic drugs, however, the side effects of the therapies is hindering the market.
The major players operating in the pancreatic cancer therapy market include Eli Lilly and Company, F. Hoffmann-La Roche AG, Celgene Corporation, Amgen Inc., Novartis AG, Pharmacyte Biotech Inc., Clovis Oncology, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Merck & Co., Inc. among others. For instance, in May 2018, Oncolytics Biotech Announces Collaboration between Merck and Northwestern University Combining Keytruda and REOLYSIN in a Phase 2 Second Line Pancreatic Cancer Study.
Segments Analysis-
Type Insights
Based on type, the pancreatic cancer therapy market is segmented into endocrine pancreatic cancer and exocrine pancreatic cancer. In 2017, the exocrine pancreatic cancer segment held the largest share of the market, by type. The exocrine pancreatic cancer segment is expected to grow at the fastest rate during the coming years as this type of cancer is the most common and majorly occurring type and thus is expected to have massive patient pool over the forecast years.
Therapy Insights
Based on therapy, the pancreatic cancer therapy market is segmented into biologic therapy, chemotherapy, and others. In 2017, biologic therapy segment held the largest share of the market, by therapy. Moreover, the biologic therapy segment is expected to grow at the fastest rate during the coming years owing to increasing number of novel upcoming immunotherapies as well as targeted cell therapy that treats the cancer without any severe side effects and has number of therapeutic benefits over the conventional chemotherapies.
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