According to the American Cancer Society, approximately 55,440 patients in the US are expected to be diagnosed with pancreatic cancer in 2018. Moreover, the ACS also reports that pancreatic cancer is the third leading cause of death related to the cancer in the US and is expected to be the second leading cause of death by 2020. According to the Cancer Research UK, approximately 9,921 new cases of pancreatic cancer were diagnosed in the UK in 2015. The increasing incidence and prevalence of pancreatic cancer is expected to increase the demand for drugs, therapies and for treatment of patients. Moreover, the rising number of patients results in advancements in molecular biology and chemical drug formulation. Thus, a huge pool of patients suffering with pancreatic cancer is expected to increase the growth of the global pancreatic cancer therapy market over the forecast years.
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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.
Biologic therapy segment is expected to drive the growth of the global pancreatic cancer therapy market by therapy
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.
The pancreatic cancer research has been historically underfunded. However, with the rise in number of patients suffering with the cancer, various government and non-government agencies are providing funds to the research and academic institutes as well as small and mid-sized pharmaceutical companies to carry out research activities for the development of innovative and effective therapeutics to combat pancreatic cancer. The increasing healthcare expenditures for pancreatic drugs is expected to be a factor driving the market during the forecast period. According to the Pancreatic Cancer Action Network, the majority of cancer research funding in the US comes from National Institutes of Health and National Cancer Institute. Several other federal and private funding sources for pancreatic cancer includes agencies such as NIH Loan Repayment Programs, National Institute of Nursing Research, U.S. Food and Drug Administration Orphan Products Grant Program, and others. The investments for development of therapies pertaining to pancreatic cancer can be vividly sighted even the European economies.
Pancreatic cancer is one of the most aggressive malignant cancer that is known to show a little benefit with chemotherapy drugs. The current treatment options available for pancreatic cancer patients only help to extend the patients’ lives by a few months. This demands potential drugs that are able to enhance the effectiveness of chemotherapy drugs. Combination of two or more chemotherapy drugs are a suitable way out to increase the efficacy of the drug as well as proves advantageous in the treatment. Moreover, the development of combination drug therapy through extensive research and development is expected to be one of the most prevalent trend to come up with effective therapeutics combating pancreatic cancer. The research activities as well as product innovations are expected to provide impetus for the growth of the pancreatic cancer therapy market during the forecast period.
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The objective of the study is to describe, define, and forecast the pancreatic cancer therapy market by type, therapy, and region. The report also provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and trends). The report helps to analyze market with respect to individual growth trends, prospects, and contributions to the overall pancreatic cancer therapy market.
The report analyzes factors affecting market from both demand and supply side and further evaluates pancreatic cancer therapy market dynamics effecting the pancreatic cancer therapy market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions. The report also includes the profiles of key manufacturing companies along with their SWOT analysis and market strategies.
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