(PharmaNewsWire.Com, January 22, 2018 ) Global Pancreatic Cancer Therapeutics Market was worth USD 2.08 billion in 2016 and estimated to be growing at a CAGR of 7.54%, to reach USD 2.99 billion by 2021. Pancreatic cancer is caused by the uncontrolled growth of cells in the pancreas. This abnormal, unrestrained growth of cells results in the formation of lumps of tissue, widely referred to as tumors. The presence of tumors prevents the normal functioning of pancreas. The occurrence and mortality rate of pancreatic cancer is more in men than in women. SEER estimates that pancreatic cancer accounts for around seven percent of the total cancer deaths in the US annually.
Cancer starts when cells in the body begin to grow beyond control. Pancreatic cancer starts when cells in the pancreas start to grow incessantly eventually resulting in symptoms like abdominal pain, weight loss, diarrhea, and jaundice. The developed tumor hinders the normal functioning of pancreas. The biggest risk factor which leads to pancreatic cancer is smoking. Apart from lifestyle dependent factors like alcohol consumption, obesity and smoking, a personal or family history of pancreatitis or old age may result in a person being affected by pancreatic cancer.
Having less than five-year survival, the pancreatic cancer market has one of the highest unmet therapy needs in the oncology market across the globe. Clearly, this is also the most challenging aspect that this market needs to address. Given the insuppressible nature of pancreatic cancer, treatments often return insufficient results. This challenge is yet another barrier to the growth of this market. Technologies are yet to develop fully for the timely diagnosis of this cancer type, which results in the diagnosis of majority of pancreatic cancer patients at an advanced stage of the disease. This explains the high mortality rates associated with pancreatic cancer. Estimates show that only a small percentage, that is about 12% to 15% of the patients is diagnosed early enough to be treated with surgical procedures, drugs, and chemotherapy.
Based on the type of treatment, the market has been classified into surgery, chemotherapy, radiation therapy and others. By type, the market has been further segmented as exocrine pancreas cancer and endocrine pancreas cancer. And by end users as hospitals, clinics, research institutes and others. Futhermore, based on geography the market is segmented into various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Globally North America is the largest market for pancreatic cancer. The prevalence of pancreatic cancer is more in North American countries with U.S. having the highest number of pancreatic cancer patients in the world. Europe is expected to be the second-largest market for pancreatic cancer. Asia-Pacific is anticipated to be the fastest growing region across the globe.
Key players in the pancreatic cancer market include Eli Lilly, Amgen, Inc., Celgene Corp., F. Hoffmann-La Roche, Clovis Oncology Inc., Pfizer, Novartis AG, Threshold Pharmaceuticals Inc., Aduro BioTech Inc., Infinity Pharmaceuticals Inc. and NewLink Genetics Corp.
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