Global Pancreatic Cancer Therapeutics and Diagnostics Market Size

Pancreatic Cancer Therapeutics & Diagnostics Market Analysis

The Global Pancreatic Cancer Therapeutics and Diagnostics Market size is estimated at USD 4.56 billion in 2024, and is expected to reach USD 6.55 billion by 2029, growing at a CAGR of 7.52% during the forecast period (2024-2029).

The outbreak of COVID-19 significantly reduced hospital and healthcare services, impacting the pancreatic cancer therapeutics and diagnostics market. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals. In June 2020, an article appearing in the National Center for Biotechnology Information studied the impact of the COVID-19 pandemic on the use of endoscopy units globally. The study looked into 55 countries across 6 continents from April 23 to May 12, 2020. The study found that the number of endoscopy procedures performed during the COVID-19 pandemic decreased, constituting an 83% reduction compared to the baseline figures. The study also found out that there was an 82% reduction in upper endoscopy procedures and an 85% reduction in lower endoscopy procedures during the same time. In August 2020, a survey was published in PubMed on the impact of COVID-19 on pancreatic surgery for cancer patients. The survey was conducted amongst 337 respondents from 267 centers from 37 countries. According to the survey, most centers performed fewer pancreatic surgeries due to the COVID-19 pandemic, which reduced the weekly pancreatic resection rate from 3 to 1. Thus, the COVID-19 pandemic is expected to impact the studied market's growth significantly.

Pancreatic cancer therapeutics and diagnostics involve medical procedures used to diagnose pancreatic cancer and subsequent treatment. Factors such as the increasing prevalence and incidence of pancreatic cancer and advancements in molecular biology, development of drugs, and diagnostic technology play a major part in market growth. With the increase in R&D initiatives, favorable reimbursement scenarios, and the launch of novel products, the market is expected to grow significantly during the forecast period. In January 2019, scientists from the Van Andel Research Institute (VARI) developed a novel blood test (CA19-9 test) that, when combined with an existing test, can detect nearly 70% of pancreatic cancers with a less than 5% of false-positive rate. Moreover, in January 2021, Myriad Genetics Inc. announced that it would receive reimbursement for its BRACAnalysis Diagnostic System, which is also used for pancreatic cancer screening from Japan's Ministry of Health, Labour, and Welfare. The initiative is expected to increase the patient pool for genetic testing for pancreatic cancer in Japan. Also, many collaborations are taking place in the market, which is expected to affect market development positively. In October 2020, Oncolytics Biotech Inc. announced a collaboration with Roche and AIO for a phase 1/2 trial of testing the efficacy of pelareorep and atezolizumab in the treatment of metastatic pancreatic cancer. Thus, these developments are expected to impact the studied market growth over the forecast period positively.