Neuroendocrine Tumor Treatment Market Size
Neuroendocrine Tumor Treatment Market to surpass USD 3.9 billion by 2031 from USD 1.6 billion in 2021 at a CAGR of 9.2% in the coming years, i.e., 2021-2031.
Type of tumor, its location, and if the patient is experiencing symptoms and signs of excess hormones produced by the tumor all influence the therapy options for neuroendocrine tumors. For advanced neuroendocrine tumors, targeted medication therapy is frequently paired with chemotherapy. Targeted medication treatments are designed to target specific abnormalities found in tumor cells. Targeted medication treatments can kill tumor cells by inhibiting these anomalies. Other treatments are offered to patients based on their circumstances and the type of neuroendocrine tumor they have.
Market Highlights
Neuroendocrine Tumor Treatment Market is anticipated to register a notable CAGR of 9.2% in 2031
The market is being impacted by factors such as the increased prevalence of neuroendocrine carcinoma, technical improvements, and a growing number of government initiatives. Furthermore, substantial growth in government efforts and support from various international organizations is expected to improve the total market shortly.
Global Neuroendocrine Tumor Treatment Market: Segments
The somatostatin analogs (SSAs) segment is expected to grow with the highest CAGR over the forecast period
Based on Products, the Neuroendocrine Tumor Treatment Market is divided into Somatostatin Analogs (SSAs), Targeted Therapy, Chemotherapy, and Others. During the projected period, Somatostatin Analogs are expected to lead the neuroendocrine tumor treatment market. Somatostatin Analogs (SSAs) are the most commonly utilized medications to treat neuroendocrine carcinoma because they reduce cancer growth, symptoms, and target biomarkers. Because of the safe treatment procedures provided by SSAs, they account for the biggest revenue share.
The clinic's segment is projected to grow with the maximum CAGR during 2021-31
Based on End Users, the Neuroendocrine Tumor Treatment Market is categorized into Hospitals, Clinics, and Others. The hospital is the most profitable end-user segment in terms of income, as these facilities undertake a huge number of diagnostic operations. The availability of different alternatives for NET diagnosis, as well as the presence of established technology, are projected to boost the segment's growth. Due to the availability of qualified surgeons and patient-centric treatment options, the clinic segment will likely increase rapidly in the future.
Market Dynamics
Drivers
Increasing applications and adoption of Neuroendocrine Tumor Treatment in the healthcare
Owing to the rising prevalence of neuroendocrine carcinoma, technical improvements, and a growing number of government initiatives, the neuroendocrine tumor therapy market is expected to rise rapidly. The key drivers of market expansion include an increase in the prevalence of neuroendocrine tumors, higher R&D spending, new product releases, and early detection thanks to breakthroughs in diagnostic technologies. Furthermore, medical specialists consider surgery to be a vital step in the treatment of neuroendocrine tumors, and they rely on it.
Innovation of Digital Smell on Smart Phones
The rise in demand for less invasive therapies is driving all manufacturers to develop new treatments, which is expected to benefit the global neuroendocrine tumor therapy market. The market is gaining significant traction as people become more aware of the condition and its advanced treatment options.
Restraint
The side effects and high cost of the Neuroendocrine Tumor Treatment
High blood sugar, gallstone formation, and minor digestive system disruption such as nausea and bloating are all possible adverse effects of neuroendocrine tumor treatment. As a result, in addition to these negative effects, the high cost of developing cures or pharmaceuticals will likely stymie market expansion throughout the projection period.
Global Neuroendocrine Tumor Treatment Market: Key Players
- Pfizer Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Novartis AG
- Ispen
- Advanced Accelerator Applications
- Tarveda Therapeutics
- Progenics Pharmaceuticals, Inc.
- Hutchison Medipharma Limited
- Dauntless Pharmaceuticals Inc.
- Exelixis, Inc
- Other Prominent Players
Global Neuroendocrine Tumor Treatment Market: Regions
Global Neuroendocrine Tumor Treatment Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Increased frequency of neuroendocrine illnesses, developed health care infrastructure, high level of awareness, and strong clinical pipeline among individuals, and presence of significant market participants, are a few factors which North America dominates the neuroendocrine tumors market. In addition, there are supporting insurance policies in this region that facilitate neuroendocrine treatment, such as Medicare, Medicaid, and Tricare, which contribute to the market's total growth.
Impact of COVID-19 on Neuroendocrine Tumor Treatment Market
There have been particular concerns about the impact of the COVID-19 pandemic on specialized tumor services. Services for neuroendocrine tumors (NETs) are provided in a highly specialized setting, usually at a small number of centers that meet stringent requirements defined by associations.
Global Neuroendocrine Tumor Treatment Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States, Mexico, and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Australia, and Rest of Asia Pacific
- The Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – GCC, South Africa, and Rest of the Middle East and Africa
The Global Neuroendocrine Tumor Treatment Market report also contains an analysis on:
Neuroendocrine Tumor Treatment Market Segments:
- By Products
- Somatostatin Analogs (SSAs)
- Targeted Therapy
- Chemotherapy
- Others
- By Indication
- Lungs
- Pancreas
- Gastrointestinal
- Others
- By End User
- Hospitals
- Clinics
- Others
- Neuroendocrine Tumor Treatment Market Dynamics
- Neuroendocrine Tumor Treatment Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Neuroendocrine Tumor Treatment Market Report Scope and Segmentation
| Report Attribute | Details |
| The market size value in 2021 | USD 1.6 billion |
| The revenue forecast in 2031 | USD 3.9 billion |
| Growth Rate | CAGR of 9.2% from 2021 to 2031 |
| The base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Products, Indication, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Pfizer Inc., Novartis AG, Ispen, Advanced Accelerator Applications, Tarveda Therapeutics, Progenics Pharmaceuticals, Inc., Hutchison Medipharma Limited, Dauntless Pharmaceuticals Inc., and Exelixis, Inc. |
Frequently Asked Questions (FAQ):
The Neuroendocrine Tumor Treatment Market size was estimated at USD USD 1.6 billion in 2021 and is expected to reach USD 3.9 billion by 2030
Pfizer Inc., Novartis AG, Ispen, Accelerator Applications, Tarveda Therapeutics, Progenics Pharmaceuticals, Inc., Advanced Hutchison Medipharma Limited, Dauntless Pharmaceuticals Inc., Exelixis, Inc
The somatostatin analogs (SSAs) segment is anticipated to hold the Neuroendocrine Tumor Treatment Market
What could be the factors driving the growth of the Neuroendocrine Tumor Treatment Market?
What is the Neuroendocrine Tumor Treatment Market?
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