Market Trends of Pancreatic Cancer Therapeutics And Diagnostics Industry
The Chemotherapy Segment is Estimated to Hold Significant Share in the Market During the Forecast Period
Chemotherapy is one of the main cancer treatments that kills pancreatic cancer cells by preventing them from growing and dividing. These drugs are systemic treatments; the drugs travel through the bloodstream and damage cancer cells throughout the body. Unfortunately, chemotherapy can damage some healthy cells and cause major side effects. Chemotherapy may shrink and prevent the growth of pancreatic tumors. According to the American Cancer Society, the chemotherapy drugs used to treat pancreatic cancer include gemcitabine (Gemzar), 5-fluorouracil (5-FU), irinotecan (Camptosar), oxaliplatin (Eloxatin), albumin-bound paclitaxel (Abraxane), capecitabine (Xeloda), cisplatin, paclitaxel (Taxol), docetaxel (Taxotere), and irinotecan liposome (Onivyde). Factors such as the growing burden of pancreatic cancer, advancements in chemotherapy drug developments, and increasing research studies in the chemotherapy field are contributing to the growth of the segment. The major players are engaging in research and development strategies to innovate a better treatment option for chemotherapy. For instance, according to the article published by the University of Rochester in November 2023, the university-developed experimental drug NP137 is considered for clinical trials on pancreatic cancer at Wilmot Cancer Institute. In January 2022, ZaiLab Limited reported the successful treatment of the first patient in Greater China in the PANOVA-3 trial, a Phase 3 trial evaluating the efficacy of tumor-targeting fields administered concomitantly with gemcitabine and nab-paclitaxel as front-line treatment for patients with unresectable, locally advanced pancreatic cancer. Hence, the increasing research and development activities to innovate new chemotherapies are expected to drive the market during the forecast period. Thus, the segment is expected to witness significant growth during the forecast period due to the surging demand for effective treatment options for pancreatic cancers.
North America Holds Significant Share in the Market and Expected to Grow During the Forecast Period
North America is expected to retain its significant market share due to the rising incidence of pancreatic cancer, supportive reimbursement policies, and high healthcare spending. According to the May 2023 Statistics by the Canadian Cancer Society, in 2023, 7,200 Canadians were diagnosed with pancreatic cancer, with 4,000 males and 3,200 women affected. The rising pancreatic cancer cases may drive the demand for cancer diagnostics and treatment in the region. Moreover, the US FDA is taking steps to enhance the growth of the pancreatic cancer therapeutics and diagnostic market by approving drugs in the clinical phase, thereby accelerating clinical developments. For instance, in September 2022, the FDA granted an orphan drug designation to the novel PD-L1/4-1BB bispecific antibody ATG-101 for the treatment of patients with pancreatic cancer. Also, the increasing focus on research studies and clinical trials in the region and collaboration among the societies and foundations for funding are driving the market's growth. For instance, in March 2022, the Pancreatic Cancer Convergence Dream Team was funded by the Pancreatic Cancer Collective, an initiative of the Lustgarten Foundation and Stand Up to Cancer (SU2C), for a new clinical trial that studied pancreatic cancer tumor traits to uncover better treatment options. Such funding by private and government organizations for the development of pancreatic cancer therapies is expected to boost the market's growth in North America. Companies and research organizations are investing in R&D and adopting various strategies, such as collaboration and partnership. For instance, in January 2022, Seqster entered a multi-year partnership with The National Pancreas Foundation, a non-profit organization that provides resources for those suffering from pancreatitis and pancreatic cancer, to create the country’s largest and most inclusive pancreatic disease patient registry. The registry uses Seqster technology to connect to any electronic health record (EHR), genomic DNA test, and wearable or remote monitoring device, providing patients with a complete longitudinal health record in real time. Thus, all the factors above, such as the rising incidence of pancreatic cancer and supportive reimbursement policies by the government, are expected to boost the market growth in North America during the forecast period.
