The Pancreatic Cancer Market: Analyzing Global Prevalence and FDA Approvals
DataM Intelligence
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Pancreatic cancer is one of the most often diagnosed cancers and the seventh top cause of cancer death globally. In the Western world, pancreatic cancer has grown increasingly frequent. Pancreatic adenocarcinoma is becoming more common in the industrialized world, and adaptive lifestyle choices such as drinking and obesity may have an important impact.
The rise in unhealthy lifestyles and poor diets has increased the number of people suffering from pancreatic diseases/conditions. The expanding demand for sugary packaged foods and drinks, which also adds considerably to the growing number of pancreatic cancer patients, has been attributed to the high prevalence of diabetic patients. As a result, these factors will propel market expansion throughout the projected period.
DataM Intelligence’s pancreatic cancer market report highlights the global increasing prevalence of pancreatic cancer, and FDA approval for products as the major market drivers. The increased emphasis on R&D in molecular biology by private and public players will provide lucrative opportunities. Side effects associated with therapeutics are hampering the pancreatic cancer market growth.
In recent years, the global pancreatic cancer market has witnessed a series of product launches and approvals that have contributed to its growth. DataM Intelligence's in-depth market analysis reveals the major pancreatic cancer market drivers, challenges, trends, and opportunities. Our market intelligence report evaluates the pancreatic cancer market size, growth, and share, providing crucial insights for businesses to make informed decisions and capitalize on the existing and upcoming opportunities in the pancreatic cancer market.
Increasing Prevalence of Pancreatic Cancer is Driving the Global Pancreatic Cancer Market Growth
Pancreatic cancer cases are on the rise. Understanding trends in pancreatic cancer is crucial before adopting policies and therapies. Pancreatic cancer is more common, more prevalent, and more fatal in countries with high human development indices (HDI). Pancreatic cancer, the tenth most frequent cancer in males and the eighth most common cancer in women is the fourth leading cause of cancer death.
Obesity, passive smoking, and chronic inflammation have all contributed to a rise in the prevalence of pancreatic cancer. What we eat and drink influences our risk of pancreatic cancer by 30% to 50%. Pancreatic cancer incidence is growing in the Asia-Pacific area as life expectancy improves in tandem with HDI. Pancreatic cancer is underreported in Asia-Pacific developing countries owing to inadequate cancer registries.
The Global Pancreatic Cancer Market is Growing Due to FDA Product Approval
For example, Marker Therapeutics, Inc. , a clinical-stage immuno-oncology company, received Orphan Drug designation from the US Food and Drug Administration (FDA) in January 2022 for MT-601, a multi-tumor-associated antigen (MultiTAA)-specific T cell product optimized for the treatment of hematological malignancies and solid tumor indications.
Side Effects Associated with Therapeutics are Hampering the Global Pancreatic Cancer Market Growth
Treatments for pancreatic cancer may have a number of adverse effects, which might vary based on the specific treatment technique and individual patient characteristics. Chemotherapy can cause symptoms such as weakness and fatigue, hair loss, decreased appetite, constipation or diarrhea, mouth ulcers, an increased risk of infection, blood conditions (such as anemia and a low platelet count), perivascular neuropathy (tingling or numbness in the hands or feet depending on the chemotherapy medicines used), kidney or liver problems.
Market Size and Growth Analysis:
According to the latest research report published by DataM Intelligence, the Global Pancreatic Cancer Market was valued at US$ 2.5 billion in 2022 and is projected to reach US$ 5.7 billion by 2030. The market is expected to exhibit a CAGR of 11.1% during the forecast period (2023-2030) - DataM Intelligence
Market Opportunities
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Increase in the Number of Research and Development Activities?
The market's expansion is being propelled by a rise in the number of R&D activities. This would give advantageous chances for the expansion of the pancreatic cancer therapy industry. Additionally, growing medication approvals and launches will accelerate the market's growth pace.?
Furthermore, increased investment in advanced technology research and a rise in the number of developing markets will give further opportunities for pancreatic cancer treatment market growth throughout the projection period.
Key Market Trends
Pancreatic cancer is not diagnosed until it has progressed to its later phases, as symptoms do not appear until then. Because pancreatic cancer is aggressive and difficult to diagnose, it has an extremely high mortality rate. The limited treatment window has led to the failure of numerous monotherapies and treatments over the years. The market participants are now focusing on combination therapy, which employs two or more drugs/treatments to treat or reduce cancer.?
Increasing government expenditure on healthcare is anticipated to make combination therapies accessible and affordable, thereby contributing to the expansion of the pancreatic cancer market. Streamlining and enhancing regulatory procedures to increase approval rates of new drugs/therapies/treatments will benefit the market as well.
Key Players:
The major companies contributing to the global pancreatic cancer market growth include
Experts at DataM Intelligence estimate that the global pancreatic cancer market will continue to flourish, with substantial growth anticipated in the coming years. They attribute this growth due to the global increasing prevalence of pancreatic cancer, and FDA approval for products.
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