Pancreatic Cancer Global Market Expected to Hit $1.6 Billion by 2017
Sales predictions released by GlobalData claim that the global pancreatic cancer market is set to hit $1.6bn by 2017 as a result of rapid expansion, mainly driven by Celgene’s Abraxane.
The prediction is a strong endorsement of Abraxane, which has been approved by both the US and European regulatory agencies in the last year.
Sales predictions forecast that the pancreatic cancer market will see a sharp rise in value in the five largest European countries and the US, climbing from $529 million in 2012 to $1.63 billion by 2017.
Analysts noted that they expect sales of Celgene’s Abraxane to experience a substantial rise, from $21 million in 2012, when the drug’s use would have been off-label, to $954 million in 2017. Additionally, they confirmed that they expect Abraxane to represent nearly 60% of the pancreatic cancer therapeutics market by the end of the forecast period.
GlobalData’s associate director of oncology, Savade Solanki, noted that “the large number of unmet needs in this disease, coupled with high physician familiarity, have facilitated the rapid adoption of Abraxane into clinical practice for advanced pancreatic cancer.”
“We expect the Abraxane-gemcitabine regimen to win substantial patient share from all other major treatment options, including gemcitabine monotherapy, Tarceva-gemcitabine, and FOLFIRINOX regimens,” Solanki added.
The global market is also expected to be buoyed by six pipeline candidates. Other drugs highlighted by GlobalData as having noteworthy sales potential include Merrimack Pharmaceuticals’ MM-398 and Threshold Pharmaceuticals/Merck’s TH-302.