Global Pancreatic Cancer Drugs Market 2022-2028

Global Pancreatic Cancer Drugs Market 2022-2028

Global Pancreatic Cancer Drug Market Size, Share, & Analysis by cancer type (exocrine, endocrine),by treatment type (chemotherapy drugs, targeted therapy drugs,and immunotherapy drugs). Pancreatic cancer is one of the most occurred cancer types around the globe. According to WHO (World Health Organization), in 2021, pancreatic cancer was the 12th most commonly occurring cancer and 7th leading cause of mortality around the globe. The number of incidences of pancreatic cancer in 2021 was 458,918 (243,033 males, and 215,885 females), and the number of mortalities were 432,242 (226,910 males, and 205,332 female). The prevalence of pancreatic cancer in the last five years was 282,574, in 2021. The primary cause of pancreatic cancer includes diabetes, chronic inflammation of the pancreas (pancreatitis), obesity, excessive smoking, and certain inherited gene mutations. Hence, the rising prevalence of obesity, excessive alcohol, and tobacco consumption, among other factors are driving the global pancreatic cancer drugs market. As per the WHO, globally, tobacco kills more than 8 million people each year. Over 80.0% of the world's 1.3 billion tobacco consumers live in emerging economies such as China, India, and Korea. This is one of the major causes of high pancreatic cancer incidence in Asia-Pacific. In 2021, the total number of incidences of pancreatic cancer was 214,499 in Asia-Pacific, followed by Europe with the total number of incidences at 132,559. North America registered 56,002 incidences of pancreatic cancer in 2021.The global pancreatic cancer drug market was valued at nearly $1.5 billion in 2021 which is estimated to reach around $2.5 billion in 2028. The market is growing at a CAGR of 8.3% during the forecast period (2021-2028). Pancreatic cancer survival rates are very low due to the delayed diagnosis of cancer. To improve the survival rates, various campaigns and awareness programs were introduced, which is expected to boost the market growth in the near future. For instance, ‘World Pancreatic Cancer Day’ is celebrated on November 21st and November is celebrated as the Pancreatic Cancer Awareness Month. World Pancreatic Cancer Day is an initiative of the World Pancreatic Cancer Coalition (WPCC), which is comprised of over 80 organizations from over 30 countries in six continents, including the Pancreatic Cancer Action Network (PanCAN), a founding member. In addition, during November, the educational and awareness programs are organized to empower, educate, and inspire different communities about its cause, prevention, diagnosis, and treatment.

Future Market Potential

Further, the extensive research in the field of pancreatic cancer treatment is also boosting the market growth during the forecast period. For instance, in July 2021, National Cancer Institute (NCI)-funded an advanced research on pancreatic cancer to advance the understanding of prevention, detection, and treatment of pancreatic cancer. The pancreatic cancer is hard to be detected in early stage, and it is often diagnosed at an advanced stage. This funded research for pancreatic cancer includes the testing of treatments for early-stage pancreatic cancer, and treatments for the advanced pancreatic cancer. Therapies for the early-stage disease being tested in clinical trials, currently, the new adjuvant chemotherapy drug combinations, and neoadjuvant chemotherapy are in clinical trials. Further, new therapies for metastatic pancreatic cancer are currently under the clinical trials which include stroma modifying drugs, platinum chemotherapy, RAS-directed therapies, and immunotherapy (Pembrolizumab, immune checkpoint inhibitor combinations, and natural killer (NK) cells. In addition, various programs have been introduced by the NCI to address the pancreatic cancer more effectively that include Pancreatic Cancer Detection Consortium (PCDC), Pancreatic Cancer Microenvironment Network (PaCMEN), Pancreatic Specialized Programs of Research Excellence (Pancreatic SPOREs), Pancreatic Cancer Cohort Consortium, and RAS Initiative.

Market Segment Outlook

The pancreas releases enzymes that aid the digestion and produce hormones that assist and manage the blood sugar. The pancreatic cancer begins in the tissues of the pancreas. Several types of growths can occur in the pancreas, including cancerous and noncancerous tumors. The most common types of cancer that forms in the pancreas is the pancreatic ductal adenocarcinoma (or pancreatic exocrine cancer). Less frequently, cancer can form in the hormone-producing cells or the neuroendocrine cells of the pancreas known as pancreatic neuroendocrine tumors (or pancreatic endocrine cancer). The diagnosis of the pancreatic cancer can be done by ultrasound, computerized tomography (CT) scans, magnetic resonance imaging (MRI), endoscopic ultrasound (EUS), and biopsy.

The pancreatic cancer treatment options are chosen based on the extent of cancer. The alternatives are available for the treatment of pancreatic cancer which include cancer surgery, radiation therapy, and medication therapies that include chemotherapy, targeted therapy, immunotherapy, or a combination of these therapies. Among medication, the chemotherapy held the highest market share of 67.0%, accounted for $975 million in 2021, and is anticipated to reach around $1.7 billion in 2028, growing at a CAGR of 7.9% during the forecast period. Chemotherapy is the most common form of treatment for cancers. The availability of effective chemo drugs such as Capecitabine (Xeloda), Gemcitabine (Gemzar), Irinotecan (Camptosar), Nab-paclitaxel (Abraxane), and Nanoliposomal irinotecan (Onivyde) contributed to the market in 2021. Currently, only Pembrolizumab (Keytruda) is the only immunotherapy drug used for treating the pancreatic cancer, hence the market for immunotherapy drugs held the least share of 6.0%, accounted for $87 million in 2021, and is estimated to reach $179 million in 2028, growing at the highest CAGR of 10.9% during the forecast period.The high growth rate is attributed to emerging immunotherapies for the treatment of advanced pancreatic cancer, Further, various immunotherapy agents are already approved for use that are being investigated in clinical trials.

The pancreatic cancer is broadly classified into two categories that include exocrine pancreatic cancers and endocrine pancreatic cancers. According to the American Cancer Society (2021), the various types of exocrine pancreatic cancers contributes to over 95.0% of all cancers of the pancreas. Types of exocrine pancreatic cancers include adenocarcinoma, squamous cell carcinoma, adenosquamous carcinoma, and colloid carcinoma. The primary treatment option for exocrine pancreatic cancers includes chemotherapy drugs. The exocrine pancreatic cancers market held the highest share of 90.0% accounted for around $1.3 billion in 2021 and is estimated to reach nearly $2.3 billion in 2028, growing at the highest CAGR of 8.4% during the forecast period. The exocrine pancreatic cancers market growth is attributed to the increasing incidence and prevalence rate, and growing reach of novel techniques across the globe. Whereas the endocrine pancreatic cancers or pancreatic neuroendocrine tumors (NETs) are much less common than pancreatic exocrine tumors and have a better prognosis. Several drugs such as Nab-paclitaxel (Abraxane), Fluorouracil, and Nanoliposomal irinotecan (Onivyde) are used in the treatment of pancreatic cancer during chemotherapy and targeted therapy. As the prevalence of endocrine pancreatic cancers is low, the market for endocrine pancreatic cancers held the highest share of 10.0% accounted for $145 million in 2021 and is estimated to reach $236 million in 2028. The market for endocrine pancreatic cancers is growing at a CAGR of 7.1% during the forecast period.

Regional Outlook

The global pancreatic cancer drugs market is segmented into four major regions, including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific, and Rest of the World (Latin America and the Middle East and Africa). The market in Europe held the highest market share of 43.4% accounted for $632 million in 2021 and is anticipated to reach around $1.1 billion in 2028, growing at a significant CAGR of 8.1% during the forecast period. High healthcare spending by the government and individual, high healthcare insurance penetration, and prevalence of pancreatic cancer are some of the major factors which are augmenting the demand for treatment in the region. As per the WHO, around 132,500 new cases of pancreatic cancer were registered in the region in 2021. Whereas the mortality due to pancreatic cancer in the region was 128,000 in 2021. Whereas North America held the second-highest market share of 29.2% in 2021 accounted for $425 million in 2021 and is anticipated to reach $752 million in 2028, growing at a significant CAGR of 8.5% during the forecast period. The market valued is attributed to significant awareness regarding cancer disorders and favorable Medicare coverage for cancer-related services and treatments. Further, the significant prevalence of pancreatic cancer is also creating demand for the potential therapies and thereby accelerating the market growth in the region. The market in Asia-Pacific is growing at the highest CAGR of 9.0% during the forecast period. The market growth is attributed to increasing government initiatives, growing awareness regarding the treatment options for pancreatic cancer, and the growing availability of medical infrastructure for effective treatment. The market in Asia-Pacific was $307 million in 2021 which is estimated to reach $557 million in 2028. The rest of the world (RoW) held the least market share of 6.3% accounted for $91 million in 2021 and is estimated to reach $146 million in 2028, growing at a CAGR of 6.7% during the forecast period. Despite the significant prevalence, the same as North American countries, the poor healthcare infrastructure and lack of awareness are responsible for the least market share in RoW pancreatic cancer drugs market.

Market Players Outlook

The global pancreatic cancer drugs market players such as Eli Lilly and Co., F. Hoffmann-La Roche Ltd., Novartis International AG, Merck & Co., Inc., and Bristol-Myers Squibb Co. contribute significantly to the growth of the market. These market players adopt various strategies to stay competitive and optimize the available opportunities in the market. Some of the strategies that are majorly adopted by the market players include expansion of product portfolio, innovation in existing products, improving services, mergers and acquisitions, partnerships, collaborations, among other strategies.

Few Recent Activities-

In July 2021, AstraZeneca and Merck & Co., Inc., announced that Lynparza (olaparib) has been approved in the European Union (EU) for patients with germline BRCA-mutated (gBRCAm) metastatic pancreatic cancer.

In March 2021, AstraZeneca announced that Lynparza (olaparib) has been granted orphan drug designation (ODD) in Japan for the maintenance treatment of germline BRCA-mutated (gBRCAm) curatively unresectable pancreatic cancer.

In January 2021, AbbVie Inc. announced an update on the Phase 3 RESOLVE trial (PCYC-1137) of ibrutinib (IMBRUVICA). IMBRUVICA is proposed to use in combination with chemotherapy agents nab-paclitaxel and gemcitabine versus placebo in combination with these chemotherapy agents in patients with metastatic pancreatic adenocarcinoma (cancer).