A Brief Overview of Emerging Healthcare Markets: Pancreatic Cancer Drugs and Neovaginal Surgery
The healthcare industry is constantly evolving and innovating to meet the needs and expectations of patients, providers, and payers. In this article, we will explore healthcare markets that are projected to witness significant growth and demand in the coming years: pancreatic cancer drugs,] neovaginal surgery. These markets are driven by various factors, such as the increasing prevalence of chronic diseases, the availability of insurance coverage, the social acceptance of transgender individuals, and the advancements in diagnostic and therapeutic technologies.
Neovaginal Surgery Market
The global neovaginal surgery market size was valued at USD 1.13 Billion in 2022 and is likely to reach USD 1.55 Billion by 2031, expanding at a CAGR of 3.61%. Neovaginal surgery includes the creation of a vagina and is opted for by transgender individuals along with women with vaginal agenesis. The growth is driven by the increasing number of gender confirmation surgeries and availability of insurance coverage for such procedures. The market is also supported by the social acceptance of transgender individuals and their rights. The growth of the market is attributed to the availability of insurance and an increase in the number of gender verification surgeries.
One of the major trends in the neovaginal surgery market is the innovation in surgical techniques that can improve the patient experience by reducing the required time and cost for the surgery. For instance, in June 2019, a team of surgeons from Mount Sinai Health System performed a novel robotic-assisted neovaginal surgery for a transgender woman using peritoneal tissue10. Another trend is the expansion of transgender services by healthcare providers to cater to increased patient inflow. For example, in June 2018, Cedars-Sinai expanded its transgender services to provide care in Culver City and Beverly Hills
Pancreatic Cancer Drugs Market
The global pancreatic cancer drug market size was USD 2.49 Billion in 2022 and is likely to reach USD 9.25 Billion by 2031, expanding at a CAGR of 15.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is also driven by the increasing incidence of pancreatic cancer, which is one of the leading causes of cancer death globally2. The increasing occurrence of pancreatic cancer and growing demand for drugs to treat the patients are propelling the market.
One of the major trends in the pancreatic cancer drugs market is the increasing R&D for advanced drugs that target specific molecular pathways involved in the disease progression. For instance, in December 2019, the U.S. Food and Drug Administration (FDA) approved olaparib, a PARP inhibitor, for the treatment of metastatic pancreatic cancer with BRCA mutations3. Another trend is the emergence of novel testing technologies that can improve the diagnosis and prognosis of pancreatic cancer. For example, in April 2020, a team of researchers from Johns Hopkins University developed a blood test that can detect eight common types of cancer, including pancreatic cancer, with high accuracy4.