The pancreatic cancer market is observed to gain traction owing to the crucial requirement for proper diagnosis of pancreatic cancer at an early stage.
The Pancreas are located behind the lower of the abdomen, that are formed with the cells that help regulating hormonal and digestive functions. Pancreatic cancer begins in these tissues that spreads rapidly in the organ. This type of cancer is rarely diagnosed at an early stage. However, a patient with the family history of pancreatic cancer or cyst can help detect this problem in early stage. The major sign for recognizing this cancer is diabetes especially with weight loss, jaundice, and pain in the abdomen spreading to the back. Major symptoms that often occur until the disease is advanced are pain in the upper abdomen, loss of appetite or unintended weight loss, blood clots, depression, fatigue, jaundice
Pancreatic cancer majorly occurs at the age of 70 and rarely occurs before the age of 40. The risk factors that influence pancreatic cancer are excessive intake of tobacco, obesity, rare genetic conditions, and diabetes. Smoking is one the major factor that causes pancreatic cancer. For treating pancreatic cancer there is no single treatment option, but has number of treatment variables offerings that depends on the patient circumstances and wishes. Generally, chemotherapy plus radiation is often prescribed as a standard medical treatment. Pancreatic cancer is the 12th most common type of cancer worldwide. According to World Cancer Research Fund International, it was estimated that approximately 338,000 new cases were diagnosed in 2012 and estimated that in coming five years the world living with pancreatic cancer would be 4.1 per 100,000 individuals.
Continuous technological advancement for developing novel treatment for pancreatic cancer, and huge number of unmet needs associated with the disease will support the growth of global pancreatic cancer market.
The global pancreatic cancer market is primarily driven by growing number of patients suffering from pancreatic cancer. For instance, in the U.S. for 2018 approximately 55, 440 people are expected be diagnosed with pancreatic cancer. Moreover, pancreatic cancer accounts for 3% of total death in the U.S. and about 7% of all cancer deaths. Additionally, increased number of chronic disorder such as diabetes, & cardiovascular diseases, and increasing preference for the sedentary lifestyle would add on the growth of pancreatic cancer market during the forecast period. Moreover, increasing incidences of smoking, and rising awareness for various other cancer treatments would also enhance the pancreatic cancer market.
While, increasing number of clinical trials for developing new drugs along with the strong, and growing R&D funding and investments on healthcare by the governments of developing and developed economies, and unmet needs for effective treatments influence the market growth during the forecast period. However, absence of a particular dedicated cure for pancreatic cancer, side effects caused due to the medical treatment, and difficulty in diagnosis at early stage can restrain the growth of pancreatic cancer in the near future.
The global pancreatic cancer market is segmented on the basis of cancer type, diagnosis type, therapeutic type, end use type and geography.
On the basis of cancer type, market is segmented into:
On the basis of diagnosis type, market is segmented into:
On the basis of therapeutic type, market is segmented into:
On the basis of end use type, market is segmented into:
Geographically, the pancreatic cancer market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Large number of unmet needs related to the treatment of pancreatic cancer, and increasing healthcare expenditure to lead the growth of pancreatic cancer market in North America region.
North America is expected to dominate the global pancreatic cancer market over the forecast period. This region holds major share owing to the continuous technological developments via increasing R&D investments by the major players and government towards development of effective cure. While, increasing awareness for the use of biological therapies would also spur the pancreatic cancer market in North America. Moreover, the rising number of geriatric population, and increased sedentary lifestyle preference would also this industry in the near future.
However, Asia Pacific is expected to grow at a faster rate during the forecast period. This region is observed to have rising patients count suffering from pancreatic cancer & other chronic diseases that cause cancer, changing lifestyle, and rising preference for sedentary lifestyle. These factors along with increased governments’ initiatives and expenditure for developing healthcare infrastructure are the major factors anticipated to govern the growth of Asia Pacific pancreatic cancer market during upcoming years.