Pancreatic Cancer Market Report and Forecast 2024-2032

Pancreatic Cancer Market Size

The pancreatic cancer market was valued at USD 2.9 billion in 2023 driven by increasing cancer prevalence and a rise in research and development across the 8 major markets. The market is expected to grow at a CAGR of 15.8% during the forecast period 2024-2032 and attain a market value of USD 6.6 billion by 2032.

Pancreatic Cancer Market Outlook

• In March 2024, the U.S. Department of Defense announced potential funding opportunities for the Pancreatic Cancer Research Program through the CDMRP for Fiscal Year 2024. The funding aims to support innovative research with a high impact on pancreatic cancer. Such investments are expected to boost the market value in the forecast period.

• One of the major market trends involves the development of high-efficacy drugs. In January 2024, Novartis Lutathera ® showed a reduction in disease progression risk by 72% as a first-line treatment for advanced gastroentero-pancreatic neuroendocrine tumors (GEP-NETs).

• AstraZeneca Plc pipeline includes Durvalumab which is currently in Phase II clinical development for Pancreatic Cancer as of July 2024. Major companies are actively designing various drugs for patients to combat the mortality rates associated with the condition.

Pancreatic Cancer Market Overview

Pancreatic cancer is a type of cancer that originates in the tissues of the pancreas which is important for digestion and controlling blood sugar levels. Adenocarcinoma is the most common type which is difficult to detect during the early stage. Pancreatic cancer develops due to DNA mutations in cells of the pancreas, resulting in uncontrollable growth and the formation of tumors. Risk factors such as smoking, obesity, and genetic mutations play a role in its formation. Cancer can metastasize to other tissues via the bloodstream or lymphatic system, complicating treatment and reducing survival rates.

Therapy options for pancreatic cancer differ depending on the disease's stage, including surgery, chemotherapy, radiation therapy, and targeted drug therapy. Chemotherapy reduces tumor size or manages symptoms in advanced situations. Combining radiation with chemotherapy enhances efficacy. Targeted treatments are intended to specifically target cancer cells with fewer side effects compared to conventional approaches. Offering early diagnosis, personalized treatments, and targeted therapy options are major areas of research among scientists.

Pancreatic Cancer Market Growth Drivers

Surge in Cancer Awareness and Patient Support Programs Spurs Market Growth

The market is expanding because of heightened awareness and strategic partnerships aimed at patient support programs (PSPs). These programs provide complete support, which includes assistance with finances, emotional help, and the ability to receive cutting-edge treatments. In March 2024, the U.S. Department of Defense announced potential funding opportunities for the Pancreatic Cancer Research Program through the CDMRP for Fiscal Year 2024. The funding aims to support innovative research with a high impact on pancreatic cancer. Collaborations among pharmaceutical companies, healthcare providers, and patient advocacy groups have led to better patient care, improved results, and increased involvement in clinical trials. Incorporating support services into treatment can reduce emotional and financial strain, boost adherence, and increase survival rates.

Rise in Cancer Cases Drive the Pancreatic Cancer Market Demand

The American Cancer Society predicts that by the end of 2024, 66,440 new pancreatic cancer cases, with 51,750 deaths are expected in the United States, affecting both men and women. The increasing prevalence of pancreatic cancer is impacting the pancreatic cancer market, affected by elements such as growing elderly populations, changes in lifestyle, and chronic illnesses. Pancreatic cancer in its early stages frequently shows no symptoms, resulting in delayed detection and more difficult therapy. The increase in cases is boosting the need for better diagnostics, therapies, and patient care services, highlighting the importance of more research to improve survival rates and treatment results.

Pancreatic Cancer Market Trends 

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Increased Government Support

Government assistance is boosting the market by providing fundings, implementing policies, and conducting public health campaigns. This has resulted in increased funding for research, and the creation of new treatments, and diagnostic instruments. Public health initiatives strive to increase knowledge and promote timely screenings. These initiatives aim to alleviate financial strains on patients and healthcare systems, resulting in notable progress in pancreatic cancer treatment and market expansion.

Increased Focus on Targeted Therapy

The market is witnessing a preference towards targeted therapy, which aims to target cancer cells with specific genetic mutations or proteins to reduce damage to healthy cells. This method holds the potential to enhance the efficiency of treatments and minimize side effects in aggressive cancers such as pancreatic cancer. Pharmaceutical companies are putting efforts into the development of novel targeted treatments such as monoclonal antibodies and small molecule inhibitors. Increasing knowledge of the molecular mechanisms of pancreatic cancer is anticipated to broaden the availability of targeted therapy choices and drive market growth.

Focus on Early Diagnosis

Early detection of pancreatic cancer is essential. Technologies such as high-tech imaging, liquid biopsies, and biomarker assessments strive to identify the illness sooner to improve treatment results. The market is demanding better diagnostic tools to increase survival rates and patient outcomes by specifically targeting the early detection of pancreatic cancer.

Increase in Research and Development

Research and development efforts are driving growth in the pancreatic cancer market. Efforts are being made to create new treatments for cancer by studying its genetic and molecular foundations. This has led to the development of new treatments and procedures, such as targeted therapies and immunotherapies. Ongoing clinical trials are focused on enhancing survival rates and the quality of life for patients.

Pancreatic Cancer Market Segmentation

Market Breakup by Treatment Type

• Chemotherapy

• Immunotherapy

• Surgery

• Radiation Therapy

• Targeted Drug Therapy

• Others

Market Breakup by Cancer Type

• Endocrine Pancreatic Cancer

• Exocrine Pancreatic Cancer

Market Breakup by Route of Administration

• Oral

• Parenteral

• Others

Market Breakup by End User

• Hospitals

• Clinics

• Diagnostic Centers

• Research Laboratories

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

• India

Pancreatic Cancer Market Share

Market Share Based on Treatment Type to Witness Growth

The market segmentation based on treatment type includes chemotherapy, immunotherapy, surgery, radiation therapy, targeted drug therapy, and others. Chemotherapy is expected to dominate the market because it is effective for all stages of disease, especially for advanced cases when surgery is not an option. It aids in reducing tumour size and enhancing survival rates, even in palliative care. Targeted drug therapy and immunotherapy are becoming popular due to their tailored approach and potential for reduced side effects, particularly in genetically targeted patients.

Pancreatic Cancer Market Analysis by Region

Based on region, the market report covers United States, EU-4, and the United Kingdom (Germany, France, Italy, Spain, United Kingdom), Japan and India.

The United States is expected to dominate because of high rates of occurrence and significant funding for research. The market in this region is influenced by factors such as growing elderly populations and lifestyle-related risks. The country's government support and healthcare infrastructure enable market growth by leading in clinical trials and innovative treatments like targeted therapies and immunotherapies. Increased focus on early detection and individualized treatment options continues to drive market growth.

EU-4 and the United Kingdom are also poised to have a significant market share supported by the government and partnerships between the public and private sectors. According to Cancer Research UK, around 10,800 new pancreatic cancer cases occur in the UK every year and are projected to rise by 5% by 2025. Research and patient support service funding boosts market expansion. Additionally, the utilization of personalized medicine and improved diagnosis continues to drive market growth.

Aging populations and high disease incidence are the factors contributing to the rapid expansion of the pancreatic cancer market in Japan and India. In India, the focus is on enhancing access to affordable treatments and diagnostics, while Japan prioritizes tackling the increasing burden. Both countries are witnessing a rise in clinical trials and collaborative research efforts to enhance patient outcomes.

Leading Players in the Pancreatic Cancer Market

The key features of the market report include patent analysis, clinical trials analysis, grant analysis, funding, and investment analysis as well as strategic initiatives by the leading players. The major companies in the market are as follows:

Amgen Inc.

Amgen is a biotechnology company focusing on developing innovative medicines for serious diseases. It creates treatments for a variety of conditions by analyzing disease challenges and utilizing advanced human genetics knowledge.

AstraZeneca

AstraZeneca Plc was founded in 1992. It is a UK-based holding company specializing in pharmaceutical products for oncology, cardiovascular, renal, metabolism, and respiratory therapy areas. Their pipeline includes Durvalumab which is currently in Phase II clinical development for Pancreatic Cancer as of July  2024.

Bayer AG

Bayer AG is a company dedicated to creating products for human health and agriculture, including medicines for various diseases. Bayer aims to innovate in medicine and agriculture. Their BAY-2416964 for Pancreatic Cancer is in Phase I clinical trials as of June 2024.

Novartis AG

Novartis AG focuses on discovering, developing, manufacturing, and marketing prescription and generic pharmaceuticals and eye care products. Treatments target cancer, cardiovascular, solid tumors, immune, and infectious diseases. In January 2024, Novartis Lutathera ® showed a reduction in disease progression risk by 72% as a first-line treatment for advanced gastroentero-pancreatic neuroendocrine tumors (GEP-NETs).

Other players in the market are F-Hoffmann-La Roche Ltd, and Pfizer, Inc., among others.

Key Highlights of the Report

Key Questions Answered in the Pancreatic Cancer Market Report

• What was the pancreatic cancer market value in 2023? 
• What is the pancreatic cancer market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on treatment type? 
• What is market segmentation based on cancer type? 
• What is market breakup based on the route of administration? 
• What is market segmentation based on end users? 
• What are the major factors aiding the pancreatic cancer market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major drivers, opportunities, and restraints in the market?  
• What are the major trends influencing the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Who are the key players involved in the pancreatic cancer market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?