Pancreatic Cancer Diagnostic Global Market Report 2024

The pancreatic cancer diagnostic market size has grown strongly in recent years. It will grow from $3.92 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed during the historic period can be credited to several factors, including the expansion of genomic and molecular profiling, advancements in chemotherapy, refinements in radiation therapy, ongoing research on pancreatic cancer genetics, and concerted efforts through awareness campaigns and early detection initiatives. These elements collectively contributed to the progress and improvement in addressing pancreatic cancer during the specified historical timeframe.

The pancreatic cancer diagnostic market size is expected to see strong growth in the next few years. It will grow to $5.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be ascribed to several key factors, including advancements in liquid biopsy techniques, the development of targeted therapies, the integration of artificial intelligence in diagnostics, the adoption of personalized medicine approaches, the identification of early detection biomarkers, and the utilization of neoadjuvant therapies. Major trends expected in the forecast period encompass research in immunotherapy, progress in imaging technologies, innovations in surgical techniques, global collaborative research initiatives, and the integration of big data analytics. These trends collectively contribute to the projected expansion and evolution of strategies and technologies in the field during the forecasted timeframe.

The anticipated growth in the pancreatic cancer diagnostic market is expected to be propelled by the increasing prevalence of pancreatic cancer. Pancreatic cancer, characterized by the development of malignant cells in the pancreas tissues, is on the rise, primarily attributed to factors such as smoking, diabetes, chronic pancreatitis, family history of pancreatic cancer, inflammation of the pancreas, and certain genetic disorders. Diagnosing pancreatic cancer is crucial for guiding treatment decisions, determining the cancer stage, identifying specific tumor characteristics, and tailoring treatment approaches to enhance outcomes and optimize patient care. According to the American Society of Clinical Oncology in 2023, it is estimated that 64,050 individuals in the United States will be diagnosed with pancreatic cancer, making it the eighth most common cancer in women and the tenth most common in men. The incidence of new cases of pancreatic cancer has been increasing by about 1% per year in both men and women. Consequently, the growing prevalence of pancreatic cancer is a significant driver behind the expansion of the pancreatic cancer diagnostic market.

The growth of the pancreatic cancer diagnostic market is the increase in healthcare spending. Healthcare spending encompasses the total financial resources allocated to the healthcare sector in a specific region, country, or organization. This spending is directed towards pancreatic cancer diagnostics to facilitate early detection, accurate staging, and timely interventions, with the goal of improving patient outcomes and survival rates. In March 2023, the American Medical Association reported a 2.7% increase in health spending in the United States in 2021, reaching $4.3 trillion, or $12,914 per capita. The upward trend in healthcare spending is playing a significant role in driving the growth of the pancreatic cancer diagnostic market.

Product innovations stand out as a prominent trend gaining traction in the pancreatic cancer diagnostic market, with companies actively adopting innovative solutions to maintain their competitive positions. One noteworthy example is the introduction of Prestige Biopharma Limited's first-in-class PAUF-detecting diagnostic kit in March 2023. This diagnostic tool is designed for the early detection of pancreatic cancer, leveraging the identification of PAUF (Pancreatic Adenocarcinoma Upregulated Factor), a unique tumor-specific biomarker associated with early metastasis and prevalent in approximately 80% of pancreatic cancer cases. The innovative diagnostic technique exhibits high sensitivity and specificity in identifying PAUF, with preliminary studies indicating nearly a 1.9 times higher expression level of PAUF in the blood plasma of pancreatic cancer patients compared to healthy individuals, as reported by Prestige Biopharma's Innovative Discovery Center.

A focus on developing screening tests for pancreatic cancer is another notable strategy among major companies in the pancreatic cancer diagnostic market. Screening tests are designed to detect the presence of pancreatic cancer at an early, asymptomatic stage, enabling timely intervention and improving treatment outcomes. An example is the N-NOSE plus Pancreas test launched by Hirotsu Bio Science in December 2022. This test, marketed directly to consumers in Japan, utilizes the olfactory senses of nematodes, tiny worms, for pancreatic cancer detection.

In August 2021, Illumina Inc., a US-based healthcare company, made a significant move by acquiring GRAIL for $7.1 billion. This acquisition aims to accelerate the adoption of next-generation sequencing (NGS)-based early multi-cancer detection tests, particularly the Galleri test for pancreatic cancer. Illumina's strategic move enhances its position in clinical genomics, aiming to make the Galleri test more widely accessible in doctors' offices, as GRAIL is a US-based healthcare company specializing in early-detection blood tests for various cancers, including pancreatic cancer.

Major companies operating in the pancreatic cancer diagnostic market report are Pfizer Inc., Hitachi Medical Corporation, F. Hoffmann-La Roche AG, Novartis AG, Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca PLC, Abbott Laboratories Inc., Danaher Corporation, Siemens Healthcare GmbH, FUJIFILM Corporation, Becton Dickinson and Company, Koninklijke Philips N.V., GE Healthcare Bio Sciences AB, Laboratory Corporation of America Holdings, Agilent Technologies Inc., Illumina Inc., Qiagen Inc., Myriad Genetics Inc., Canon Medical Systems Corporation, Biological Dynamics Inc., Berg LLC, Abcodia Ltd., Acobiom, Amplified Sciences LLC, Avant Diagnostics Inc., Axim Biotechnologies Inc., Alaunus Biosciences Inc., Advanced Marker Discovery SL, Anixa Diagnostics Corporation.

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

The primary categories of pancreatic cancer diagnostic products comprise instruments, consumables, and services. Instruments refer to tools or devices utilized to perform specific tasks or achieve desired outcomes during diagnostic procedures, often involving the manipulation or examination of biological tissue. Various treatment modalities, such as surgery, chemotherapy, radiation therapy, and targeted therapy, are employed to address different types of pancreatic cancer, including exocrine, adenocarcinoma, squamous cell carcinoma, adenosquamous carcinoma, colloid carcinoma, and endocrine. Diagnostic tests encompass a range of methods, including imaging tests, biopsies, blood tests, genomic tests, among others. These tests are utilized by diverse end-users, including hospitals, diagnostic centers, cancer research centers, academic institutes, ambulatory surgical centers, and other healthcare facilities.

The pancreatic cancer diagnostic market research report is one of a series of new reports that provides pancreatic cancer diagnostic market statistics, including pancreatic cancer diagnostic industry global market size, regional shares, competitors with a pancreatic cancer diagnostic market share, detailed pancreatic cancer diagnostic market segments, market trends and opportunities, and any further data you may need to thrive in the pancreatic cancer diagnostic industry. This pancreatic cancer diagnostic 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 diagnostic market includes revenues earned by entities through computerized tomography (CT) scans, Magnetic resonance imaging (MRI), positron emission tomography (PET) scan, and ultrasound. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The pancreatic cancer diagnostic market consists of sales of tumor markers and drugs such as Abraxane, Afinitor, and Capecitabine. 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.