Growing Government Efforts at Cancer Research to Drive Pancreatic Cancer Market

The global pancreatic cancer market is expected to grow at a CAGR of 8.1% over the forecast period from 2017 to 2023, according to a new research report from Market Research Future (MRFR). The market is mainly driven by the growing prevalence of pancreatic cancer in the developed world and the growing efforts by government agencies to keep the disease under control.

Pancreatic cancer was the twelfth most common type of cancer around the world in 2015 according to the WHO and is likely to remain a major health threat over the forecast period. The main problem with pancreatic cancer is that it is much harder to detect in the early stages than other cancers and it is also more painful. Early-stage treatment is crucial in avoiding the full-blown impact of pancreatic cancer. This is likely to be a major target for players in the global pancreatic cancer market, as early stage diagnosis improves the prognosis of the patients considerably and makes it much easier to treat the disease.

Increasing cancer research is likely to fuel the global pancreatic cancer market over the forecast period. The increasing healthcare threat of cancer is being acknowledged by a growing number of governments around the world, which are funding significant research efforts in order to learn more about the disease and develop effective treatment mechanisms. This is likely to be a major driver for the global pancreatic cancer market over the forecast period as healthcare agencies around the world step up their efforts to combat the threat of cancer.

On the other hand, the need for expensive equipment in treating pancreatic cancer and the lack of adequate reimbursement options, especially in developing countries, is likely to act as a key restraint against the global pancreatic cancer market over the forecast period.

Competitive Analysis:

Leading players in the global pancreatic cancer market include Pharmacyte Biotech Inc., Oncolytics Biotech, Polaris Pharmaceuticals Inc., Midatech Pharma plc, Celgene Corporation, Amgen Inc., Clovis Oncology, Novartis International AG, F. Hoffman-La Roche AG, Eli Lilly and Company, Sun BioPharma Inc., Diffusion Pharmaceuticals, and OncoGenex Pharmaceuticals Inc.

in 2015, Celgene Corporation invested 30% of its revenue on research and development to produce advanced technologies to support patients with pancreatic cancer. 

In 2016, Novartis and Pfizer collaborated on a study on tumors driven by mutations in a gene called KRAS, which causes cancer.

Pancreatic Cancer Market Information: By Type (Endocrine Pancreas Cancer and Exocrine Pancreas Cancer), Treatment (Hormone Therapy, Biologic Therapy, and Targeted Therapy), End User (Hospitals & Clinics and Research Institute) - Global Forecast till 2023   : https://www.marketresearchfuture.com/reports/pancreatic-cancer-market-1638