Immunotherapy is fastest growing segment fueling the growth of pancreatic cancer therapeutics and diagnostics market

 

Global Pancreatic Cancer Therapeutics and Diagnostic Market

The global pancreatic cancer therapeutics and diagnostic market is estimated to be valued at US$ 4255.87 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Pancreatic cancer is a type of cancer that develops in the pancreas, a gland located behind the stomach and next to the small intestine and liver. Pancreatic cancer therapies and diagnostics play an important role in early detection and treatment. Therapeutic and diagnostic options help in improving the survival rate and quality of life of patients.

 

Market key trends:

One of the key trends driving the pancreatic cancer therapeutics and diagnostic market is the rising number of immunotherapy approvals. Immunotherapy is emerging as a promising treatment option and several immunotherapy drugs have been approved or are under clinical trials. For instance, Opdivo (nivolumab), which is an immune checkpoint inhibitor, was approved by the FDA in 2017 for metastatic pancreatic cancer previously treated with gemcitabine-based chemotherapy. The drug helps in boosting the body’s own immune system to fight cancer cells.

 

Segment Analysis

The global pancreatic cancer therapeutics and diagnostic market is segmented into diagnostics and therapeutics. The diagnostics segment dominates the market and is expected to continue its dominance over the forecast period. Early and accurate diagnosis plays a crucial role in treating pancreatic cancer as it has a very low survival rate when diagnosed at later stages. Diagnostic imaging techniques such as computerized tomography (CT) scans, magnetic resonance imaging (MRI), endoscopic ultrasound (EUS), and positron emission tomography (PET) scans are widely used for pancreatic cancer screening and diagnosis.

 

Key Takeaways

The Global Pancreatic Cancer Therapeutics and Diagnostic Market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing incidence of pancreatic cancer worldwide.

 

Regional analysis

North America dominates the global market and is expected to continue its dominance in the coming years. This is attributed to advanced healthcare infrastructure, availability of skilled professionals, and presence of key market players in the region. Asia Pacific is expected to exhibit the highest growth rate during the forecast period owing to increasing awareness regarding pancreatic cancer diagnosis and treatment.

 

Key players

Key players operating in the pancreatic cancer therapeutics and diagnostic market are F Hoffmann-La Roche AG, Merck KgaA, Apexigen Inc., Immunovia AB, Viatris Inc., Amgen Inc., AstraZeneca PLC, Bristol-Myers Squibb, Novartis AG, Pfizer Inc., Myriad Genetics Inc., Canon Medical Systems Corporation, FUJIFILM Holdings Corporation, Boston Scientific Corporation, and Rafael Holdings Inc. (Rafael Pharmaceuticals). These players are focusing on developing novel drugs and diagnostic techniques to improve treatment outcomes of pancreatic cancer patients.

Get More Insights Here

https://www.newswirestats.com/pancreatic-cancer-therapeutics-and-diagnostic-market/

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