Pancreatic Cancer Therapeutics and Diagnostics Market

Market Overview

The global pancreatic cancer therapeutics and diagnostics market was valued at USD 3.96 billion in 2022. It is estimated to reach USD 7.42 billion by 2031, growing at a CAGR of 7.23% during the forecast period (2023–2031). The major aspects driving the global market are the rising prevalence of pancreatic cancer and awareness of early disease diagnosis. The evolution of advancements in molecular biology, drug development, and technological advancements in the accuracy and sensitivity of diagnostic tests is creating opportunities for market growth.

Pancreatic cancer therapeutics and diagnostics are medical methods used to diagnose and treat pancreatic cancer. These therapeutics and diagnostics include ultrasonography, magnetic resonance imaging (MRI), positron emission tomography (PET) scans, and computed tomography (CT). Endoscopic ultrasound (EUS) generates images of the pancreas from within the abdomen. Due to uncontrollable cell growth in the pancreas, they aid in determining the tumor's location.

Pancreatic cancer therapeutics and diagnostics assist in removing a small tissue sample for microscopic examination during a biopsy. In addition, they assist in laboratory investigations, including a complete blood count (CBC), fasting glucose and glycated hemoglobin (HbA1c) tests, and liver enzyme tests for biliary obstruction. Consequently, pancreatic cancer therapeutics and diagnostics are utilized in hospitals and specialty centers worldwide.

Market Dynamics

Global Pancreatic Cancer Therapeutics and Diagnostics Market Drivers

Increasing Incidence and Prevalence of Pancreatic Cancer

The major factor expected to drive the growth of the pancreatic cancer therapeutics and diagnostics market is the rising prevalence and incidence of pancreatic cancer in different parts of the world over the forecast period. For instance, as per the International Agency for Research on Cancer (Globocan) 2020 figures, 495,773 new pancreatic cancer cases were diagnosed globally in 2020.

According to GLOBOCAN 2020 data, the incidence of new cases of pancreatic cancer in extremely high HDI (Human Development Index) countries was 275,036, followed by 187,205 in high HDI (Human Development Index) countries. There were 24,705 and 8,586 cases in countries with medium and low HDI, respectively.

Rising Awareness Initiatives

The global demand for diagnostic products is facilitated by an increase in the number of programs designed to raise awareness about screening for malignant tumors. Partnerships and collaborations undertaken by government and non-government organizations such as the WHO, CDC, and Pancreatic Cancer Action Network to promote pancreatic cancer diagnosis are expected to drive market growth.

In addition, several nations have taken steps to promote cancer screenings at an early stage. Such initiatives are anticipated to increase the demand for pancreatic cancer testing products. For instance, in October 2018, the United Kingdom government announced several initiatives to diagnose oncology diseases at an early stage.

Global Pancreatic Cancer Therapeutics and Diagnostics Market Restraints

High Costs Associated with Diagnosis and Treatments

The high diagnosis and treatment costs are among the most significant deciding factors for pancreatic cancer therapy and diagnostics. Pancreatic cancer is typically diagnosed in the later stages of the disease, thus making interventional procedures costly.

According to the January 2020 article published by Albina Holovina, "What is the Cost of Pancreatic Cancer Treatment?" The cost of diagnosis of pancreatic cancer in Germany amounted to EUR 4,000 for the endoscopic biopsy under the supervision of ultrasound, EUR 900 for the CT scan, EUR 1,100 for the MRI, EUR 1,600 for PET-CT, and EUR 1,500 for immunohistochemistry, which is higher compared to other procedures, thereby limiting the number of diagnoses. Thus, the above factors highlight the high cost of diagnosis and treatment, which may restrain the market's growth over the forecast period.

Global Pancreatic Cancer Therapeutics and Diagnostics Market Opportunities

Advancements in Molecular Biology, Development of Drugs, and Diagnostic Technology

The ongoing research studies focused on developing and finding new diagnostics and treatment methods will further advance the research and development activities in the area. The pancreatic cancer diagnostic and therapy industry has witnessed a massive churn over the past few years, with new-age technologies and interventional procedures being devised. Advancements in technology may improve the efficiency and safety of diagnostic techniques. This is further expected to create opportunities for the growth of the market.

Many companies are involved in research and development activities in this field, which are expected to generate enormous opportunities for market growth with the development and launch of new diagnostic tools and therapies. For instance, in September 2020, Immunovia AB, a diagnostic firm that creates highly accurate blood tests for the early detection of autoimmune diseases and cancer, declared positive results from its verification study in preparation for the launch of IMMray PanCan-d. Immray PanCan-d was the first blood-based test for the early detection of pancreatic cancer. Blood tests like these can improve patient survival and outcome rates for pancreatic cancer and significantly impact the market's growth.

Regional Analysis

Europe Dominates the Global Market

Based on region, the global pancreatic cancer therapeutics and diagnostics market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

Europe is the most significant global pancreatic cancer therapeutics and diagnostics market shareholder and is estimated to exhibit a CAGR of 7.38% during the forecast period. The dominance of the European region can be attributed to improved healthcare infrastructure, a large target population, and high adoption of pancreatic treatment procedures. In addition, a rising incidence of pancreatic cancer aggressively propels the demand for treatment options. For instance, as per the GLOBOCAN 2020 estimates, there were around 11,720 new cases of pancreatic cancer in the UK. At the same time, approximately 10,222 deaths were recorded due to pancreatic cancer.

Furthermore, the soaring number of clinical trials awaiting product approvals will likely boost market expansion in France. For instance, in 2021, ERYTECH Pharma announced the first patient enrollment in Phase 1 investigator-sponsored trial (IST), named rESPECT, of its lead product, eryaspase, for the first-line treatment of pancreatic cancer in France. This trial may evaluate the safety of eryaspase, combined with FOLFIRINOX, for the first-line treatment of pancreatic cancer.

Asia-Pacific is estimated to exhibit a CAGR of 7.68% over the forecast period. The growing prevalence of pancreatic cancer, constant technological advancements in diagnostics, a large target population pool, new drug launches, and the flourishing demand for effective screening tests are a few of the prime factors that are spurring the demand for pancreatic cancer therapeutics and diagnostics. In addition, the market is boosted by the increasing level of awareness among the people. For instance, in November 2020, a new initiative was launched to tackle pancreatic cancer in China. The Journal of Pancreatology and Servier China jointly initiated an online World Pancreatic Cancer Day public awareness campaign and a WISH project, China's first pancreatic cancer patients' survival situation project, in 2020. The program aims to raise awareness about the disease, promote early diagnosis and treatment, and increase benefits for patients.

In Asia-Pacific, the product approvals for diagnosing and treating pancreatic cancer, along with other strategic initiatives by the key market players, will further lead to the lucrative growth of the market. In February 2022, Radixact X9 Tomotherapy, an advanced AI-based cancer treatment technology, was launched at the Department of Radiation Oncology at Max Institute of Cancer Care (MICC), Saket, New Delhi, to help patients with any cancer of the body, including pancreatic cancer.

North America is expected to sustain its significant market share due to the surging incidence of pancreatic cancers, high healthcare spending, and supportive reimbursement policies. According to the Government of Canada's report titled 'Canadian Cancer Statistics 2021, published in November 2021, there were approximately 6,700 new cases of pancreatic cancer in Canada, of which 3,700 were men and 3,000 were women. The rising pancreatic cancer cases may, thus, drive the demand for cancer diagnostics and treatment in the region. The FDA is also taking steps to enhance the growth of the market studied by approving drugs in the clinical phase, thereby augmenting clinical developments. Due to the urgent need for promising novel treatment alternatives for patients with second-line metastatic pancreatic cancer, the FDA granted the fast-track designation to ERYTECH's lead product candidate, eryaspase, in 2020. As a result of the FDA's approval of such products, the regional market is anticipated to expand.

In the Middle East and Africa, factors such as the growing burden of pancreatic cancer, the rising geriatric population, and flourishing research and development studies are expected to contribute to significant market growth. As per the estimates for GLOBOCAN 2020, there were around 107,568 and 80 new cases of pancreatic cancer reported in Kuwait, Saudi Arabia, and the United Arab Emirates, respectively. As a result of the increasing incidence of cancer in the region, many organizations have been involved in cancer research over the years. The King Abdullah Medical City Oncology Center in Mecca, Saudi Arabia, is involved in education and research to enhance the quality of cancer care. Increasing demand for technologically advanced products for cost-effectiveness, accuracy, and speed will likely serve this regional market as a high-impact rendering driver. For instance, Canon Medical Systems Corporation introduced a new Aquilion Start CT system at Arab Health in Dubai, UAE, in January 2019.

Segmental Analysis

The global pancreatic cancer therapeutics and diagnostics market is segmented by type.

Based on type, the global pancreatic cancer therapeutics and diagnostics market is bifurcated into treatment and diagnostics. The treatment segment dominates the market and is projected to exhibit a CAGR of 7.38% over the forecast period.

The treatment segment is further segmented into targeted therapies, chemotherapy, surgery, and other treatments.

The chemotherapy segment is the largest revenue contributor to the market and is expected to expand at a CAGR of 7.49% over the forecast period. Chemotherapy is one of the most common cancer treatments that employs drugs to kill pancreatic cancer cells by inhibiting their growth and division. These medications are systemic treatments; they circulate throughout the bloodstream and harm cancer cells throughout the body. Unfortunately, chemotherapy can cause significant side effects and damage to healthy cells.

In addition, chemotherapy may shrink and prevent the growth of pancreatic tumors. According to the American Cancer Society article titled 'Chemotherapy for Pancreatic Cancer' updated in August 2020, the chemotherapy drugs utilized to treat pancreatic cancer are gemcitabine (Gemzar), 5-fluorouracil (5-FU), irinotecan (Camptosar), albumin-bound paclitaxel (Abraxane), oxaliplatin (Eloxatin), capecitabine (Xeloda), cisplatin, paclitaxel (Taxol), docetaxel (Taxotere), and irinotecan liposome (Onivyde). The factors, such as the growing burden of pancreatic cancer and advancement in drug developments and research studies contribute to the segment's growth.

Cancer treatment that targets specific properties of cancer cells while inflicting less harm on healthy cells is known as targeted therapy. The research going on around the world for the development of new targeted therapy drugs or finding target genes for the treatment of pancreatic cancer is also boosting the market's growth. For instance, in February 2021, researchers at the University of South Australia are developing a technique to make detecting and targeting pancreatic cancer cells easier and minimize treatment side effects in patients. They are researching a cancer cell receptor called mucin 1 (MUC1-CE). It is commonly found in pancreatic cancer cells but largely absent from healthy pancreas tissue, which may serve as a "biological beacon" for targeted treatment. The positive results from such research could lead to the development of new treatment therapies and, hence, boost the market's growth.

The diagnostic segment is further bifurcated into imaging, biopsy, endoscopic ultrasound, and other diagnostics.

The imaging segment owns the highest market share and is expected to grow at a CAGR of 7.19% over the forecast period. Imaging has a central role in the staging and evaluation of pancreatic cancer. It is involved in all stages of clinical management of pancreatic diseases, driving the segment's growth. The most important types of imaging used to detect pancreatic cancer are abdominal ultrasound, endoscopic ultrasound, endoscopic retrograde cholangiopancreatography, X-rays, computed tomography, magnetic resonance, and positron emission tomography.

In addition, computed tomography is the most commonly used imaging method for pancreatic cancer and is available in most medical units compared to MRI or endoscopic ultrasound. The sensitivity of computed tomography (CT) in identifying pancreatic tumors has demonstrated significant advancements, ranging from 70% to 100%. Magnetic resonance imaging has also been increasingly used to evaluate pancreatic tumors. It offers the possibility to examine the pancreaticobiliary system noninvasively by magnetic resonance cholangiopancreatography (MRCP) with perfect accuracy.

A biopsy is a prevalent test for identifying an abnormal mass or cancerous tumor by examining a tissue sample from the pancreas. A biopsy is considered the most effective diagnostic method for the disease. According to the research study published in January 2022 by Daniel C. Osei-Bordom et al., biopsies represent a fundamental tool for clinical assessment, aiding in diagnosing and managing the disease. The availability of liquid biopsy has allowed clinicians to study peripheral blood and fine-needle aspiration (FNA) biopsy samples of patients with pancreatic ductal adenocarcinomas (PDAC) for clinical applications, including early detection and surveillance to optimize overall survival outcomes in affected patients.

Recent Developments

• July 2023: The National Cancer Institute (NCI) awarded Amplified Sciences, a clinical-stage life sciences diagnostic firm that licenses Purdue University innovations, a Phase I Small Business Innovation Research (SBIR) grant of approximately $400,000 to develop the pancreatic cancer test.
• May 2023: GeneCentric Therapeutics, a company that enhances precision medicine through RNA-based diagnostics, announced that its PurISTSM test is now commercially available for clinical use through Tempus. PurIST is a novel RNA-expression test that identifies patients with the classical subtype of pancreatic ductal adenocarcinoma (PDAC) who are more likely to benefit from standard-of-care (SOC) FOLFIRINOX than patients with the basal subtype of PDAC.