Global Pancreatic Cancer Diagnostic Market Set to Reach USD 3.90 Billion by 2030 with a CAGR of 6.53%

News provided by

Oct 17, 2023, 19:45 ET

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "Pancreatic Cancer Diagnostic Market Size, Share & Trends Analysis Report By Product, By Test Type (Imaging Test, Biopsy, Blood Test, Others), By Cancer Type (Exocrine, Endocrine), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global pancreatic cancer diagnostic market is poised for substantial growth, with a projected size of USD 3.90 billion by 2030 and an anticipated compound annual growth rate (CAGR) of 6.53% over the forecast period.

Key drivers fueling this growth include the introduction of innovative products, the pressing need for early disease diagnosis, and increased research endeavors aimed at developing advanced diagnostic solutions.

One noteworthy development in the field is the approval received by Immunovia, Inc. in August 2021 from the Massachusetts Department of Public Health to conduct patient testing for pancreatic cancer using the IMMray PanCan-d test. This laboratory-developed test is designed for the early detection of pancreatic cancer and is expected to contribute significantly to market expansion.

The market is also set to benefit from increased research funding, technological advancements in diagnostic tests, and heightened efforts from manufacturers to create precise testing solutions. For instance, in December 2022, Bluestar Genomics, Inc. initiated one of the largest clinical trials for early pancreatic cancer detection.

The demand for novel automated and accurate diagnostic solutions to reduce the global burden of pancreatic cancer has gained momentum in recent years. Research related to biomarker identification, nanoparticle utilization, and the integration of artificial intelligence (AI) in diagnosis processes is expected to further boost market growth. Incorporating AI in imaging pathology and biomarker tests will enhance the adoption of diagnostic tests for detecting pancreatic cancer.

For example, in April 2022, Fujitsu collaborated with Southern Tohoku General Hospital in Fukushima, Japan, to develop AI solutions for early-stage pancreatic malignancy detection from CT scans. Rising investments by key market players in the production of effective and advanced diagnostic tools, coupled with various strategic initiatives, are likely to create new avenues for market expansion.

In March 2023, Prestige Biopharma Limited unveiled a first-in-class diagnostic kit for detecting pancreatic cancer at an early stage, with the aim of improving treatment outcomes and global survival rates.

The favorable regulatory framework for diagnostic tools is another factor bolstering market expansion. For instance, in January 2023, the U.S. FDA granted breakthrough device designation to the OverC Multi-Cancer Detection Blood Test (MCDBT) for the early diagnosis of various forms of cancers, including pancreatic cancer, in adults with average and intermediate risk.

Companies Mentioned

QIAGEN
Illumina, Inc.
BD
Thermo Fisher Scientific, Inc.
Myriad Genetics, Inc.
Agilent Technologies, Inc.
F. Hoffmann-La Roche Ltd.
Hitachi, Ltd
Koninklijke Philips N.V.
Abbott
Danaher
Prestige Biopharma Ltd.
BioMarker Strategies
ASURAGEN, INC

Pancreatic Cancer Diagnostic Market Report Highlights

The consumables segment held the largest revenue share in 2022, driven by increased adoption of consumables in diagnostic procedures, higher R&D investments, and the frequent launch of technologically advanced diagnostic kits and reagents.
The imaging test segment accounted for the largest market revenue share in 2022 due to its ability to facilitate early-stage detection and diagnosis of pancreatic cancer, along with a strong preference for imaging modules for tumor localization.
In terms of end-use, the hospital segment dominated the market in 2022, while the laboratories segment is projected to be the fastest-growing segment over the forecast period.
Asia Pacific is expected to exhibit the fastest growth over the forecast period, owing to high unmet needs among the patient population and increased investments by key market players in the region.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Pancreatic Cancer Diagnostic Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market
3.2 Market Dynamics
3.2.1 Market drivers analysis
3.2.1.1 Increasing prevalence of pancreatic cancer
3.2.1.2 Growing demand for advanced diagnostic solutions
3.2.2 Market restraint analysis
3.2.2.1 High cost of diagnostic tests and stringent regulatory framework
3.3 Market Analysis Tools
3.3.1 Industry analysis - Porter's Five Forces
3.3.2 PESTLE analysis

Chapter 4 Pancreatic Cancer Diagnostic Market Segment Analysis, By Product, 2018 - 2030 (USD Million)

Chapter 5 Pancreatic Cancer Diagnostic Market Segment Analysis, By Test Type 2018 - 2030 (USD Million)

Chapter 6 Pancreatic Cancer Diagnostic Market Segment Analysis, By Cancer Type, 2018 - 2030 (USD Million)

Chapter 7 Pancreatic Cancer Diagnostic Market Segment Analysis, By End-use, 2018 - 2030 (USD Million)

Chapter 8 Pancreatic Cancer Diagnostic Market Segment Analysis, By Region, 2018 - 2030 (USD Million)

Chapter 9 Pancreatic Cancer Diagnostic Market - Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/h6v9mt

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets