Pancreatic Cancer Diagnostic Market Size, Share & Trends Analysis Report By Product, By Test Type, By Cancer Type, By End-user, By Region, And Segment Forecasts, 2023 To 2030

The growth of the pancreatic cancer diagnostic market is attributed to the increasing disease prevalence coupled with a higher mortality rate, technological advancements in diagnostics tests, and increasing awareness among people about early diagnosis of diseases. According to WCRF International, more than 495,000 new cases were reported worldwide in 2020. Moreover, in 2020, around 4,500 new cases were reported in Australia. The mortality rate is higher than all other major cancers. In the U.S., it is the third leading cause of cancer-related death and is projected to be in second position by 2030. Hence, growth in demand for early-stage diagnosis is expected to drive the market over the forecast period.

Increasing demand for developing novel automated and accurate diagnostic solutions to reduce the disease burden across the world. Research related to novel biomarkers identification, the introduction of artificial intelligence (AI), and nanoparticle utilization for pancreatic cancer have increased in recent years, which are expected to fuel market growth in the coming years. Moreover, using AI in imaging, pathology tests, and biomarkers tests for diagnosing pancreatic cancer will boost the adoption of diagnostic tests at the early stages of the disease. According to a study about Artificial Intelligence in Gastroenterology published in April 2021, AI applications in endoscopic ultrasound and novel biomarkers tests to detect pancreatic lesions early showed impressive results compared to traditional methods.

The market is segmented based on product, test type, cancer type, end user, and region. The product segment includes instruments, consumables, and services. Test type is further split into imaging test, biopsy, blood test, and others. Based on cancer type, the market is segmented into exocrine and endocrine. End user is segmented into hospital, clinics, laboratories, and others.

North America dominated the global pancreatic cancer diagnostic market in 2022, followed by Europe region. The increasing disease incidence rate, technological advancements in testing, and better reimbursement policies are some key factors supporting the region's large market share. According to the American Cancer Society, around 64,050 individuals will be diagnosed with pancreatic cancerous tumor in 2023. However, the Asia Pacific region is anticipated to grow at the fastest rate over the forecast period owing to a growing patient base, increasing research activities to develop novel testing solutions and improvement in healthcare policies in the region.

Pancreatic Cancer Diagnostic Market Segmentation

Key players operating in the space include Siemens Healthcare GmbH, FUJIFILM Corporation, Laboratory Corporation of America Holdings, Abbott, Agilent Technologies, Inc., and Thermo Fisher Scientific Inc. Companies are adopting market strategies such as new product development, collaboration, and geographical expansions to increase their market share. For instance, in August 2021, Immunovia, Inc. developed a blood test to detect pancreatic cancerous tumor early in people at high risk of developing this disease.