Neuroendocrine Tumor Treatment Market Size & Share, by End-user (Hospitals, Clinics); Therapy (Somatostatin Analogs, Chemotherapy, Cancer Immunotherapy, Targeted Therapy); Indication (Lungs, Pancreas, Gastrointestinal) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3846
  • Published Date: Aug 08, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Neuroendocrine Tumor Treatment Market size is anticipated to cross USD 8 billion by the end of 2035, growing at a CAGR of 12% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of neuroendocrine tumor treatment was around USD 3 billion. The growth of the market is attributed to the increasing number of government cancer awareness campaigns. In addition, significant programs were launched or renewed on World Cancer Day to raise awareness of the gaps that exist and show what steps people can take to close these gaps. The World Health Organization (WHO) recently released a new Global Initiative Framework for Breast Cancer, setting out a plan to save more than 2 million lives from breast cancer by 2040.

In addition, the neuroendocrine tumor treatment market is expected to include increasing advances in neuroendocrine disease therapy and rapidly increasing investments. For example, a new peptide-receptor radionuclide therapy for late-stage neuroendocrine tumors (NETs) has been found to be more effective with fewer side effects, and the duration of treatment may be shorter compared to other anti-receptor therapies. It is a type of radiation treatment in which a radionuclide (a radioactive substance) is attached to a molecule that targets cells.


Neuroendocrine Tumor Treatment
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Neuroendocrine Tumor Treatment Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Incidence of Neuroendocrine Cancer – On account of the increasing advancements in neuroendocrine tumors diagnosis, such as improved imaging tests and endoscopy, as well as growing awareness of these tumors, the neuroendocrine tumor treatment market is expected to expand more in the upcoming years. In the United States every year, five people out of every 100,000 are diagnosed with neuroendocrine tumors (NETs).
  • Rising Improvements in Technology for Treating Neuroendocrine Tumors – The application of modern technology to examine the underlying biology, develop of new therapeutics, and clinical trials to evaluate novel drugs is estimated to drive market growth. Further, the ability to employ single cell RNA sequencing to assess changes in gene expression at the single cell level is one of the most recent technological advancements (scRNA-Seq).
  • Growing Research & Development Investment – According to the most recent data, cancer research had reached one of its most productive and efficient peaks, with a flood of targeted medicines and licensed immunotherapies in various cancers in 2019.

Challenges

  • Expensive methods for treating neuroendocrine tumors - The rising frequency of neuroendocrine cancer might raise the average yearly health-care expenditure of managing a patient, which is one of the major factors predicted to slow down the neuroendocrine tumor treatment market growth. For instance, NET patients may develop functional syndromes such as carcinoid syndrome, which can have a major impact on quality of life and economic output.
  • Treatment-related side effects
  • Lack of knowledge among people

Neuroendocrine Tumor Treatment: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~12%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2035)

~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Neuroendocrine Tumor Treatment Segmentation

Type (Somatostatin Analogs, Chemotherapy, Cancer Immunotherapy, and Targeted Therapy)

The somatostatin analogs segment in the neuroendocrine tumor treatment market is estimated to gain the largest revenue share in the year 2035. The growth of the segment can be attributed to the utilization of somatostatin analogs (SSAs) in treating neuroendocrine carcinoma, as they restrict tumor development, comorbidities, and biomarkers. Somatostatin analogues are medications that prevent your body from producing too many hormones made by some neuroendocrine tumors (NETs), and also aids in reducing carcinoid syndrome symptoms including diarrhoea and skin flushing. Moreover, it manages the emptying of the stomach and bowel. Somatostatin analogues are often injected into a muscle or beneath the skin.

End User (Hospitals, Clinics, and Others)

Neuroendocrine tumor treatment market from the hospital segment is expected to garner a significant share in the year 2035. Patients suffering from neuroendocrine tumor often visit hospitals for treatment, and it’s easier and more convenient for them as multiple options for NET diagnosis and other developed technologies are available on the hospital’s premises. They receive better care as nurses and doctors are easily accessible. On the other hand, the clinic segment is projected to witness a massive CAGR during the forecast period, owing to the presence of experienced surgeons and the availability of patient-centered treatment alternatives. Clinics provide healthcare that doesn't need an overnight stay in a hospital or other healthcare institution. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the market in the coming years.

Our in-depth analysis of the global neuroendocrine tumor treatment market includes the following segments:

           Therapy

  • Somatostatin Analogs
  • Targeted Therapy
  • Chemotherapy
  • Cancer Immunotherapy

 

   

           End User

  • Hospitals
  • Clinics
  • Others

                     Indication

  • Lungs
  • Pancreas
  • Gastrointestinal
  • Others

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Neuroendocrine Tumor Treatment Industry – Regional Synopsis

North American Market Forecast

The neuroendocrine tumor treatment market in the North America region is projected to hold the largest market share of 38% by the end of 2035. The growth of the market can be attributed majorly to the high R&D spending by pharmaceutical corporations and regional governments. For instance, a number of programs for veterans and individuals with low income, including Medicaid and the Children's Health Insurance Program, are funded by the federal government. Further, the availability of advanced healthcare infrastructure in the region is also anticipated to contribute to the market growth in the region. In addition, the region's the productivity of health centers has increased as a result of the use of cutting-edge technologies such as data analytics, and AI in healthcare. More than 60% of Americans, private insurance serves as their primary form of health insurance.

European Market Statistics

The neuroendocrine tumor treatment market in the Europe region is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the rising R&D expenditure, and strategic partnerships. For instance, companies located in the EU raised their R&D spending in the health and ICT sectors by 10.3% and 7.2%, respectively. In addition, Germany has a dominant position in the European neuroendocrine tumor market. Further, the rising rates of neuroendocrine tumors, the need for targeted drugs, and growing disposable income, are also anticipated to contribute to the market growth in the region. In addition, the Asia Pacific market is anticipated to witness significant growth in the coming years. As NETs are becoming more common in the region. Further, increased regional government spending to address the significant unmet clinical needs is also anticipated to support neuroendocrine tumor treatment market expansion.

Research Nester
Neuroendocrine Tumor Treatment Market
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Companies Dominating the Neuroendocrine Tumor Treatment Market

top-features-companies
    • BoehringerIngelheim International GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Hutchison MediPharma Limited,
    • AVEO Oncology
    • Pfizer, Inc.
    • IpsenPharma
    • Tarveda Therapeutics
    • Progenics Pharmaceuticals
    • Novartis AG
    • Eli Lilly & Company
    • Ipsen Pharma

In the News

  • Eli Lilly & Company to supply its human insulin active pharmaceutical ingredient (API) to IABL at a reduced cost in order to facilitate the manufacturing of insulin in Bangladesh.
  • Boehringer Ingelheim teamed up with 3T Biosciences to identify and create cutting-edge cancer treatments to meet the significant unmet patient needs. Further, the collaboration will combine the industry-leading 3T-TRACE (T-Cell Receptor Antigen and Cross-Reactivity Engine) discovery platform from 3T Biosciences with Boehringer Ingelheim's two-pronged research approach combining cancer cell-directed and immune cell-targeting compounds.

Author Credits:  Radhika Pawar


  • Report ID: 3846
  • Published Date: Aug 08, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing incidence of neuroendocrine cancer is the major factor driving the market growth.

The market size of neuroendocrine tumor treatment is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023 – 2035.

The major players in the market are BoehringerIngelheim International GmbH, Hutchison MediPharma Limited, AVEO Oncology, Pfizer, Inc., IpsenPharma, Tarveda Therapeutics, Progenics Pharmaceuticals, Novartis AG, Eli Lilly & Company, Ipsen Pharma, and others.

The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Neuroendocrine Tumor Treatment Market Report Scope
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