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The global pancreatic cancer treatment market value in the six major countries (U.S., France, Germany, Italy, Spain and the UK) will increase from $529 million in 2012 to $1.63 billion by 2017.
The global pancreatic cancer treatment market value in the six major countries (U.S., France, Germany, Italy, Spain and the UK) will increase from $529 million in 2012 to $1.63 billion by 2017, at a Compound Annual Growth Rate (CAGR) of 25.2%, says a new report from GlobalData (London, UK).
According to the report, the U.S. will show the most growth in the pancreatic cancer therapeutics market, with its total value jumping from $275 million in 2012 to $1.17 billion by 2017, at a higher CAGR of 33.5%. This will be followed by the five European countries, with their combined market values expected to increase from $254 million in 2012 to $463 million by 2017, (CAGR 12.8%).
Savade Solanki, GlobalData’s Associate Director of Oncology, says that this rapid market expansion is due to the launch of Celgene’s Abraxane in the U.S. and Europe in 2013 and 2014, respectively, along with the incorporation of five pipeline agents into U.S. clinical practice.
Sales of Abraxane are expected to undergo “a massive rise, from $21 million (off-label) in 2012 to $954 million in 2017, at a CAGR of 115%”, says GlobalData. The drug will represent nearly 60% of the pancreatic cancer therapeutics market by the end of the forecast period.
Of the five upcoming pipeline agents, “NewLink Genetics Corporation’s algenpantucel-L is expected to garner the highest sales,” says Solanki. “Other drugs with significant forecast sales by 2017 include Threshold Pharmaceuticals/Merck’s TH-302 and Merrimack Pharmaceuticals’ MM-398.”