The global pancreatic cancer market size is expected to reach USD 7.04 billion by 2030, according to a new study by Polaris Market Research. The report “Pancreatic Cancer Market Share, Size, Trends, Industry Analysis Report, By Treatment Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormone Therapy, and Others); By Diagnosis; By Cancer Type, By End-Users; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising prevalence of pancreatic cancer across the globe is the primary factor boosting the market growth over the forecast period. Also, many government firms aim to improve the healthcare infrastructure by raising funding, which will further influence the market dynamics. Genetic anomalies, including the BRCA2 gene mutation, Psychiatric problems, and family atypical mole-malignant melanoma (FAMMM) syndrome, may increase the risk of cancer in the family. For instance, as per the World Cancer Research Fund International, the 12th most frequent cancer in the world is pancreatic cancer. It ranks 11th among cancers in women and 12th among cancers in men. In 2020, there were around 495,000 new instances of pancreatic cancer. Due to its difficulty in detection, pancreatic cancer typically only becomes known when it has advanced to an advanced stage.
Further, the market will be impacted by the increasing rates of diabetes and obesity, raising the chance of developing pancreatic cancer. According to the International Diabetes Foundation, a total of 537 million individuals (20-79 years old) worldwide have diabetes. By 2030, the number is reaching up to 643 million diabetics worldwide, and by 2045, there will be 783 million. Also, as per the World Obesity Organization, around 2 billion persons are overweight, and 650 million are impacted by obesity.
Another element fueling the market's expansion is an increase in R&D activity. This would offer beneficial opportunities for the growth of the market for pancreatic cancer treatments. Additionally, increasing drug releases and approvals will speed up the market's expansion. For instance, in January 2022, according to Marker Therapeutics, the FDA designated MT-601 as an orphan drug. This product is a (MultiTAA)-specific T cell designed specifically for the treatment of people with cancer.
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Additionally, growing investments in the creation of cutting-edge technologies and an increase in the number of emerging markets will create more favorable conditions for expanding the market over the forecast year.
Pancreatic Cancer Market Report Highlights
Polaris Market Research has segmented the Pancreatic Cancer market report based on treatment type, cancer type, diagnosis, end-users, and region:
Pancreatic Cancer, Treatment Type Outlook (Revenue - USD Billion, 2018 - 2030)
Pancreatic Cancer, Cancer Type Outlook (Revenue - USD Billion, 2018 - 2030)
Pancreatic Cancer, Diagnosis Outlook (Revenue - USD Billion, 2018 - 2030)
Pancreatic Cancer, End-Users Outlook (Revenue - USD Billion, 2018 - 2030)
Pancreatic Cancer, Regional Outlook (Revenue - USD Billion, 2018 - 2030)