The market studied is majorly driven by the factors such as the increasing prevalence of pancreatic cancer, increasing demand for diagnostic tests and treatment of this disease. As a result, many governments and non-profit organizations have taken initiatives to spread awareness regarding pancreatic cancer in the Asia-Pacific region. Moreover, technological advancements have in diagnostics and treatment have led to solutions that more efficient. These are the major factors that have propelled the market growth.
The high cost of treatment and diagnostics and side effects due to therapies is expected to restrain the market growth.
Key Market Trends
Radiotherapy is Expected to register a High CAGR
Radiation therapy is a cancer treatment that uses high-energy radiation, in the form of waves, such as x-rays, or particles, such as protons, to kill cancer cells or prevent them from growing and dividing. Radiation therapy can prevent pancreatic tumors from growing and sometimes shrinks them. Since radiation therapy is directed to a specific (focused) area, it is considered a local treatment.
The demand for radiation therapy in Asia-pacific is also expected to increase as stated by the 2018 report by Noorazrul Yahya et al., published in the Asia-pacific Journal of Clinical Oncology. According to the estimates of the report, the number of radiotherapy fractions needed in 2025 and 2035 is expected to increase to 11.1 million and 14.1 million, respectively, compared to 7.6 million in 2015 in Southeast Asia.
As the demand for increases, it is expected that its application in pancreatic cancer will also increase. This is expected to help the market growth in the region.
Most of the countries in Asia-pacific are developing countries. These developing economies have an increasing prevalence of panreatic cancer. As a result, these countries are highly lucrative for global players to enter the market. Hence, this region enjoys the presence of themost of the global player in the pancreatic cancer therapeutics and diagnostics market.
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