The Pancreatic Cancer Therapeutics and Diagnostics market was valued at approximately USD 3,560.61 million in 2020 and is expected to witness a revenue of USD 5,998.34 million in 2026, with a CAGR of 8.80% over the forecast period.
The outbreak of COVID-19 showed an impact on the pancreatic cancer therapeutics and diagnostics market because hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the globe. Moreover, the COVID-19 pandemic not only affected the global economy but also showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. In June 2020, an article appearing in the National Center for Biotechnology Information studied the impact of the COVID-19 pandemic on the use of endoscopy units globally. The study looked into data from 55 countries across 6 continents between April 23 to May 12, 2020. The study found out that the number of endoscopy procedures performed during the COVID-19 pandemic decreased, constituting an 83% reduction when compared to the baseline figures. The study also found out that there was an 82% reduction in upper endoscopy procedures and an 85% reduction in lower endoscopy procedures during the same time. Additionally, in August 2020, a survey was published in PubMed on the impact of COVID-19 on pancreatic surgery for cancer patients. The survey was conducted amongst 337 respondents from 267 centers who were from 37 countries. According to the survey, most centers performed less pancreatic surgery due to the COVID-19 pandemic, which reduced the weekly pancreatic resection rate from 3 to 1. Thus, the COVID-19 pandemic is expected to show a significant impact on the growth of the studied market.
Pancreatic cancer therapeutics and diagnostics involve medical procedures that are used to diagnose pancreatic cancer and then their subsequent treatment. The factors, such as the increasing prevalence and incidence of pancreatic cancer and advancements in molecular biology, development of drugs, and diagnostic technology play a major part in market growth. Coupled with the increase in research and development initiatives, favourable reimbursement scenarios, and the launch of novel products, the market is expected to grow significantly during the forecast period. In January 2019, scientists from the Van Andel Research Institute (VARI) developed a novel blood test (CA19-9 test) that, when combined with an existing test, can detect nearly 70 percent of pancreatic cancers with a less than 5 percent of the false-positive rate.
The market is expected to grow significantly due to favourable reimbursement scenarios in certain countries. For example, in January 2021, Myriad Genetics, Inc. announced that it will receive reimbursement for its BRACAnalysis Diagnostic System which is also used for pancreatic cancer screening from Japan's Ministry of Health, Labour, and Welfare. The initiative is expected to increase the patient pool for genetic testing for pancreatic cancer in Japan. Also, there are many collaborations that are taking place in the market which is also expected to affect market development in a positive manner. In October 2020, Oncolytics Biotech Inc announced a collaboration with Roche and AIO for a phase 1/2 trial testing the efficacy of pelareorep and atezolizumab used for the treatment of metastatic pancreatic cancer. Thus, these developments are expected to positively impact the studied market growth over the forecast period.
Key Market Trends
The Chemotherapy Segment is Expected to Witness a Major Share in the Studied Market over the Forecast Period
Chemotherapy is one of the main cancer treatments that use drugs to kill 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 also damage some healthy cells and cause major side effects. Chemotherapy may shrink and/or 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).
Since the 1990s, the chemotherapy drug gemcitabine (Gemzar) has been the backbone of treatment for people with pancreatic cancer that can be removed with surgery (resectable). Traditionally, gemcitabine has been given as adjuvant chemotherapy after the patient has recovered from the surgery, which, for many patients, is a grueling procedure known as the Whipple procedure. More recently, gemcitabine is sometimes combined with the chemotherapy drug capecitabine (Xeloda). Chemotherapy may also be given alone or in combination with the surgery, targeted therapy, immunotherapy, and/or radiation. When chemotherapy is given in combination with radiation, a low dose of chemotherapy is typically used. The chemotherapy drugs most commonly used in conjunction with radiation therapy are fluorouracil (5-FU) and gemcitabine (Gemzar). 5-FU is used most often since there is more experience using this drug in combination with radiation, and there are fewer side effects.
In March 2020, the Pancreatic Cancer Collective, the strategic partnership of the Lustgarten Foundation and Stand Up To Cancer (SU2C), was awarded up to USD 16 million to four teams of top researchers, including a team at Dana-Farber Cancer Institute, as part of its "New Therapies Challenge Grants," the American Association for Cancer Research (AACR), Scientific Partner of SU2C. Nearly USD 4 million in funding is available to help support three pancreatic cancer clinical trials testing DNA repair inhibitors combined with chemotherapy. Thus, owing to the surging demand for effective treatment options for pancreatic cancers, the studied segment is expected to witness significant growth over the forecast period.
North America Dominated the Overall Market and is Expected to Retain its Dominance
The United States is expected to retain its significant market share, owing to factors like the rising incidence of pancreatic cancers, supportive reimbursement policies, and high healthcare spending.
As per a 2018 publication in the MedCrave Gastroenterology and Hepatology journal, Pancreatic cancer was the 9th most frequent cancer, despite its moderate incidence, and it was expected to be among the second-deadliest cause of cancer by 2030. Also, according to the GLOBOCAN 2020 report, there were about 56,654 new cases of pancreatic cancer that were reported in 2020. Moreover, approximately 47,683 deaths due to pancreatic cancer were reported in the United States. Additionally, the USFDA is also taking steps to enhance the growth of the pancreatic cancer therapeutics and diagnostic market by approving drugs in the clinical phase, thereby accelerating the clinical developments. Companies and research organizations are investing in R&D. Thus, the market is expanding at a fast pace. For instance, in 2020, ERYTECH's lead product candidate, eryaspase, received the fast track designation by the FDA due to the urgent need for potential new treatment options for patients with second-line metastatic pancreatic cancer in the country. Such product approvals by the FDA are expected to lift the overall market in the country.
Also, in 2020, NANOBIOTIX announced its first phase I trial with NBTXR3 in Pancreatic Cancer, which is safe to proceed as per the US FDA. The trial was co-developed with Nanobiotix, and MD Anderson is the sponsor and executor of the trial. These clinical trials' positive outcomes will result in a new treatment, thereby positively influencing the regional market growth. Thus, owing to the aforementioned factors, the studied market is anticipated to register a significant growth over the forecast period in the region
The Pancreatic Cancer Therapeutics and Diagnostics market is highly competitive with many key players dominating the market. The presence of major market players, such as Novartis AG, Pfizer, Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Myriad Genetics, Inc., and Mylan NV among others is intensifying the competition. The market players are adopting strategies, such as rising R&D investments, mergers, acquisitions, and product innovations, in order to sustain the increasing market rivalry. For instance, in Jan 2021, Myriad Genetics Inc. entered into a strategic partnership with Illumina Inc. for Illumina to create a kit-based version of the myChoice companion diagnostic (CDx) test for international markets, which can be used to detect pancreatic cancer.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Incidence and Prevalence of Pancreatic Cancer
- 4.2.2 Advancements in Molecular Biology, Development of Drugs, and Diagnostic Technology
- 4.3 Market Restraints
- 4.3.1 High Costs Associated with Diagnosis and Treatments
- 4.3.2 Stringent Regularity Guidelines
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Therapeutics
- 5.1.1 Targeted Therapies
- 5.1.2 Chemotherapy
- 5.1.3 Surgery
- 5.1.4 Other Therapeutics
- 5.2 By Diagnostics
- 5.2.1 Imaging
- 5.2.2 Biopsy
- 5.2.3 Endoscopy
- 5.2.4 Other Diagnostics
- 5.3 Geography
- 5.3.1 North America
- 22.214.171.124 United States (By Therapeutics, and By Diagnostics)
- 126.96.36.199 Canada (By Therapeutics, and By Diagnostics)
- 188.8.131.52 Mexico (By Therapeutics, and By Diagnostics)
- 5.3.2 Europe
- 184.108.40.206 United Kingdom (By Therapeutics, and By Diagnostics)
- 220.127.116.11 Germany (By Therapeutics, and By Diagnostics)
- 18.104.22.168 France (By Therapeutics, and By Diagnostics)
- 22.214.171.124 Italy (By Therapeutics, and By Diagnostics)
- 126.96.36.199 Spain (By Therapeutics, and By Diagnostics)
- 188.8.131.52 Rest of Europe (By Therapeutics, and By Diagnostics)
- 5.3.3 Asia-Pacific
- 184.108.40.206 China (By Therapeutics, and By Diagnostics)
- 220.127.116.11 Japan (By Therapeutics, and By Diagnostics)
- 18.104.22.168 India (By Therapeutics, and By Diagnostics)
- 22.214.171.124 Australia (By Therapeutics, and By Diagnostics)
- 126.96.36.199 South Korea (By Therapeutics, and By Diagnostics)
- 188.8.131.52 Rest of Asia-Pacific (By Therapeutics, and By Diagnostics)
- 5.3.4 Middle East and Africa
- 184.108.40.206 GCC (By Therapeutics, and By Diagnostics)
- 220.127.116.11 South Africa (By Therapeutics, and By Diagnostics)
- 18.104.22.168 Rest of Middle East and Africa (By Therapeutics, and By Diagnostics)
- 5.3.5 South America
- 22.214.171.124 Brazil (By Therapeutics, and By Diagnostics)
- 126.96.36.199 Argentina (By Therapeutics, and By Diagnostics)
- 188.8.131.52 Rest of South America (By Therapeutics, and By Diagnostics)
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Myriad Genetics Inc.
- 6.1.2 Pfizer Inc.
- 6.1.3 Novartis AG
- 6.1.4 Bristol-Myers Squibb Company
- 6.1.5 AstraZeneca PLC
- 6.1.6 Amgen Inc
- 6.1.7 Mylan NV
- 6.1.8 Boston Scientific Corporation
- 6.1.9 FUJIFILM Holdings Corporation
- 6.1.10 Canon Medical Systems Corporation
- 6.1.11 Rafael Pharmaceuticals
- 6.1.12 Immunovia AB
- 6.1.13 Apexigen Inc
- 6.1.14 Merck KGaA
- 6.1.15 F Hoffmann-La Roche AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS