Rising Incidence of Pancreatic Cancer Driving Demand for Advanced Treatment Therapies

FinancialNewsMedia.com News Commentary -

PALM BEACH, Fla., Nov. 7, 2022 /PRNewswire/ -- While there is no cure for pancreatic cancer in the pancreatic cancer treatment market, new treatment options abound, and research is constantly advancing. Pancreatic cancer is 12th the deadliest forms of cancer, with a 5-year survival rate of just 15%. As a result, there is a strong growth momentum in the global pancreatic cancer treatment market. However, in the last few years, the death rate from pancreatic cancer has reduced by 30% with the advent of advanced treatment options. The pancreatic cancer treatment market is expected to expand quickly during the coming years. According to the American Cancer Society, pancreatic cancer makes up roughly 3% of all cancer cases in the United States (ACS). According to the American Cancer Society, 60,431 people had pancreatic cancer diagnoses in 2021. Due to its difficulty in detection, pancreatic cancer typically only becomes known when it has advanced to an advanced stage. Two signs of pancreatic cancer include jaundice and weight loss. Risk factors include having diabetes and being exposed to certain chemicals. Depending on the tumor size, location, and whether it has spread to other bodily areas, a certain treatment may be appropriate. A report from Skyquest projected that the Global pancreatic cancer treatment market was valued at USD 2.61 billion in 2021, and it is anticipated to reach USD 3.78 billion by 2028, at a CAGR of 7.54% over the prediction period (2022 –2028). "The market expansion is primarily the result of businesses restructuring their operations and recovering from the COVID-19 effect, which had previously occurred in restrictive containment measures like social isolation, remote work, and the closure of businesses that created operational difficulties." Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Clovis Oncology, Inc. (NASDAQ: CLVS), OPKO Health, Inc. (NASDAQ: OPK), Cardiff Oncology, Inc. (NASDAQ: CRDF), Merck (NYSE: MRK).

It continued: "Targeted therapy dominated the market in 2021 and is expected to continue to do so during the forecast period. Targeted therapy occupied the largest share since it is considered as the most effective treatment option, which blocks the growth and spread of cancer cells without damaging healthy cells. The introduction of novel biologic therapies and targeted drugs to reduce the side effects of existing therapies, such as chemotherapy, is one of the factors driving growth."

Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) BREAKING NEWS: Oncolytics Biotech® Reports Interim Results from Phase 1/2 GOBLET Study Showing a 70% Objective Response Rate in Pancreatic Cancer at the SITC Annual Meeting - Oncolytics Biotech® today reported interim results from the phase 1/2 GOBLET study's first-line advanced/metastatic pancreatic ductal adenocarcinoma (PDAC) cohort in an abstract published as part of the Society for Immunotherapy of Cancer (SITC) 37th Annual Meeting. The SITC meeting is taking place both virtually and in-person at the Boston Convention and Exhibition Center in Boston, MA, from November 8 – 12, 2022.