Pancreatic Cancer Drugs Global Market Report 2024

The pancreatic cancer drugs market size has grown steadily in recent years. It will grow from $3.83 billion in 2023 to $3.98 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The historical period's growth can be attributed to robust economic expansion in emerging markets, a growing aging population, and an increased incidence of pancreatic cancer.

The pancreatic cancer drugs market size is expected to see steady growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth in the forecast period can be ascribed to an increase in cancer incidence rates, a surge in healthcare expenditure, and growing government support. Notable trends expected during this period include a concentration on the development of new drugs for pancreatic cancer treatment, an emphasis on novel nanomedicine treatment, an increase in investments, a strategic focus on collaborations, and a dedication to product innovations.

The anticipated growth of the pancreatic cancer drugs market is driven by the increasing prevalence of pancreatic cancer. The elevated number of pancreatic cancer cases is expected to boost the demand for drugs, consequently fueling market growth. The surge in cancer instances is largely attributed to factors such as an aging population and a growing number of people dealing with obesity. For example, the American Cancer Society estimates that in 2023, approximately 64,050 individuals (33,130 men and 30,920 women) will receive a pancreatic cancer diagnosis, and about 50,550 people (26,620 men and 23,930 women) will succumb to pancreatic cancer.

Government initiatives and funding focused on pancreatic cancer are poised to drive further growth in the pancreatic cancer drugs market. Such governmental support involves providing financial assistance to selected entities with projects or ideas contributing to the enhancement of public services and the overall economy. This support is particularly crucial for pancreatic cancer research aimed at improving the quality of life and survival rates for patients with this condition. As an illustration, in July 2021, the National Cancer Institute, a US-based government agency, allocated 218.1 million US Dollars for pancreatic cancer research. Therefore, the impetus provided by government initiatives and funding is a significant driver of growth in the pancreatic cancer drugs market.

An ongoing trend in the pancreatic cancer drugs market is the preference for combination therapy over monotherapy. Recognizing the potential to enhance drug efficacy and improve the survival rates of patients with pancreatic cancer, major players in the market are increasingly exploring the combination of two or more drugs. Companies such as Rafael Pharmaceuticals have initiated pivotal Phase 3 trials, such as AVENGER 500, combining CPI-613 (delimitate) with Modified FOLFIRINOX as a first-line treatment for patients with Metastatic Pancreatic Cancer. Apexigen, Inc., a clinical-stage biopharmaceutical company, is also investing in combination therapy, presenting new clinical data on APX005M for patients with metastatic pancreatic cancer.

To gain a competitive edge, major companies in the pancreatic cancer drugs market are investing in local drug delivery systems. This approach involves administering drugs directly to the site of action, enhancing efficacy while minimizing side effects. For instance, OncoLize, a Netherlands-based company, raised a US$ 1.7 million seed investment round in April 2023 to extend their preclinical success with a local drug delivery system for treating pancreatic and lung cancer. This innovative product utilizes unique liquid formulations to deliver a variety of anti-cancer drugs more effectively, both traditional chemotherapy drugs and modern immuno-drugs.

In April 2021, Servier, a France-based pharmaceutical company, acquired Agios Pharmaceuticals for an undisclosed amount. This strategic acquisition strengthens Servier's oncology portfolio, as Agios Pharmaceuticals is a US-based company specializing in drug development, including pancreatic cancer drugs.

Major companies operating in the pancreatic cancer drugs market report are Bristol-Myers Squibb Company, Pfizer Inc., AstraZeneca PLC, F. Hoffmann-La Roche AG, Novartis AG, Abbvie Inc., Merck & Co., Inc., Teva Pharmaceutical Industries, Amgen Incorporation, Eli Lilly And Company, Beigene, Chi-Med, Cstone Pharmaceuticals, Voxtur Bio Ltd., Shantu Pharma, Krushi Mitra, Kremedine Health Private Limited, Arlak Biotech, Healthkind Labs Pvt. Ltd., Swisschem Healthcare Pvt Ltd., Apikos Pharma, Kolaz Biotech, Aqvida Gmbh, Baxter International Inc (Uk), Glaxosmithkline PLC, Veropharm, Biocad, Celon Pharma, Celgene Corporation, Johnson & Johnson, Bayer Ag, Eurofarma Laboratórios S.A, Tuteur Argentina, Neopharma Llc, Tabuk Pharmaceuticals, Julphar Life Sciences, Eurolab, Sanofi, Aspen, Zahraa Oncology, Adcock Ingram.

North America was the largest region in the pancreatic cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the global pancreatic cancer drugs market share during the forecast period. The regions covered in the pancreatic cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pancreatic cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Pancreatic cancer drugs can be categorized into two main types endocrine pancreatic cancer and exocrine pancreatic cancer. Exocrine pancreatic cells generate enzymes released into the small intestine to aid in the digestion of food as it traverses the digestive tract. The diverse range of drugs for pancreatic cancer treatment includes Afinitor, erlotinib, hydrochloride everolimus, 5-FU (fluorouracil), gemcitabine, and Abraxane. These drugs find application in various healthcare settings, including hospitals, clinics, and others.

The pancreatic cancer drugs market research report is one of a series of new reports that provides pancreatic cancer drugs market statistics, including pancreatic cancer drugs industry global market size, regional shares, competitors with a pancreatic cancer drugs market share, detailed pancreatic cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the pancreatic cancer drugs industry. This pancreatic cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pancreatic cancer drugs market consists of sales of Gemcitabine (Gemzar), 5-fluorouracil (5-FU), and Irinotecan (Camptosar). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.