Neuroendocrine Tumor Treatment Market Overview:
The global burden of tumors is increasing at a significant rate globally. Neuroendocrine tumors (NET) are a rare type of tumors that arise from the cells of the endocrine/hormonal system and the nervous system. Neuroendocrine tumors mostly arise in the intestinal system, where they are referred to as carcinoid tumors but can also arise in other parts of the body such as the appendix, rectum, pancreas, and lungs.
In terms of nature, neuroendocrine tumors can be either benign or cancerous. Neuroendocrine tumors are broadly classified into two categories, namely, carcinoid tumors (arising in the appendix, digestive tract, lungs, or lymph nodes, amongst others) and pancreatic neuroendocrine tumors (arising in islet cells of the pancreas).
Neuroendocrine Tumor Treatment Market Size Growth Rate:
According to the DataM market research report, the global neuroendocrine tumor treatment market is expected to grow at a CAGR of 9.7% during the forecasting period (2023-2030). Increasing cases of neuroendocrine tumors (NETs) are expected to accelerate the demand for treatment options, augmenting market growth over the forecast period. This field is rapidly advancing as novel therapies, and diagnostic products are being developed.
The prevalence of cancers is rising significantly on a global scale. Rare tumors called neuroendocrine tumors (NET) develop from the cells of the neurological system and endocrine/hormonal system. Known as carcinoid tumors, neuroendocrine tumors typically develop in the gastrointestinal tract but can also develop in the appendix, rectum, pancreas, and lungs. Neuroendocrine tumors can either have a benign or cancerous nature.
Neuroendocrine Tumor Treatment Market Driver:
There are several cancer therapies available. One of the most popular treatments for neuroendocrine tumors is targeted therapy. Cancer treatment using targeted therapy is a successful method. As a result, the use of targeted NET treatments is likely to rise throughout the forecast period, fueling market expansion.
Although somatostatins are useful in the treatment of certain forms of pituitary tumors, regulatory approvals for NET are likely to spur additional research into its use in conjunction with targeted medications. Pasireotide is another somatostatin analog being studied for NET therapy. Somatostatin analogs are the chosen medication for long-term illness management and are beneficial for chronic control.
Neuroendocrine Tumor Treatment Market Restraints:
The high cost of developing new therapies and pharmaceuticals and the treatment’s associated side effects are anticipated to impede the market’s growth over the forecast period. Possible side effects of neuroendocrine tumor treatments include hyperglycemia, the formation of gallstones, and moderate gastrointestinal distress, such as bloating and nausea.
Neuroendocrine Tumor Treatment Market Opportunities:
The global neuroendocrine tumor treatment market presents a plethora of opportunities for growth and development in the coming years. One of the primary factors driving this growth is the increasing incidence of neuroendocrine tumors worldwide. As more and more people are diagnosed with this type of cancer, the demand for effective treatments is on the rise. Additionally, advancements in medical technology and the development of innovative treatment options are expected to further drive market growth.
For more details on this report – Request for Sample
COVID-19 Impact Analysis:
The global market has been significantly impacted by COVID-19. Due to COVID-19 containment protocols, the supply chain of many market players was disrupted and caused a lack of raw materials to disturb the supply and demand chain. In addition, societal constraints made it impossible to have regular medical checkups, which meant that the majority of individuals with neuroendocrine tumors went undiagnosed throughout the pandemic and severely impacted the expansion of the worldwide market.
Russia-Ukraine Conflict Analysis:
The Russian Federation’s invasion of Ukraine on February 24, 2022, generated a huge dislocation of the residents, with an assessed 12 million individuals escaping their residences and scouring for protection. Over seven million individuals were internally replaced to additional regions of Ukraine, while five million fled to bordering nations. This has disturbed the market growth in this region, thereby negatively impacting the global market growth.
Recent Developments in the Industry:
Neuroendocrine Tumor Treatment Market Segmentation:
As per the research analysis, the global neuroendocrine tumor treatment market is segmented by therapy type into somatostatin analogs (SSAs), targeted therapy, and others; by indication into lungs, pancreas, gastrointestinal, others; by route of administration into oral, injectable; and by end user into hospitals & clinics, cancer research center and other.
Geographical Analysis:
The global neuroendocrine tumor treatment market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Neuroendocrine Tumor Treatment Market:
Due to the increasing approval of novel neuroendocrine tumor treatments in the region, the neuroendocrine tumor treatment market in North America is anticipated to experience significant growth in the coming years. In December 2014, the U.S. Food and Drug Administration (FDA) approved Ipsen’s Somatuline Depot (lanreotide) Injection 120 mg for the treatment of unresectable, well- or moderately-differentiated, locally advanced, or metastatic gastroenteropancreatic neuroendocrine tumors (GEP-NETs) in adults.
Competitive Landscape
The major global players in the market include Pfizer, Inc., Ipsen Pharmaceuticals, Novartis, AVEO Pharmaceuticals, Inc., Eli Lilly & Company, CK Hutchison Holdings (HUTCHMED), C.H. Boehringer Sohn Ag & Co. KG (Boehringer Ingelheim International GmbH), Lantheus Holdings, Inc., Merck & Co., Inc., and Sanofi among others.
Suggestions for Related Report
For more Lifesciences and Healthcare-related reports, please click here
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regard to the scope offered will be addressed within 24- 48 hours.
3) An Excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
About Us:
DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you.
We encompass a multitude of Syndicate Reports & Customized Reports with a robust methodology. Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
Media ContactCompany Name: DataM IntelligenceContact Person: Sai KiranEmail: Send EmailPhone: 08774414866Address:DATAM INTELLIGENCE 4MARKET RESEARCH LLP Ground floor, DSL Abacus IT Park, Industrial Development Area, Uppal, Hyderabad, Telangana 500039City: HYDERABADState: TelanganaCountry: IndiaWebsite: https://www.datamintelligence.com/research-report/neuroendocrine-tumors-treatment-market
