Neuroendocrine Tumor Market to Grow Consistently During the Forecast Period
Genetic mutations due to environmental factors drive
the Global Neuroendocrine Tumors Market in the forecast period, until 2026.
According to TechSci Research report, “Global Neuroendocrine
Tumor Market
By Therapy Type (Chemotherapy, Immunotherapy, Hormonal Therapy, Surgery,
Targeted Therapy, Others) By Mechanism of Action (Somatostatin Analogs,
Tyrosine Kinase Inhibitor, Peptide receptor radionuclide, Alfa-interferon,
Proton pump inhibitors, Others) By Drug Type (Everolimus, Sunitib malate,
Lorlatinib, Nivolumab, Bevacizumab, Others) By Indication (Gastrointestinal
NET, Lung NET, Pancreatic NET, Appendiceal NET, Others) By Route of
administration (Oral, Parenteral, Others) By End User (Hospitals, Ambulatory
Surgical Centers, Oncology Centers, Others (GI centers, Cardio-thoracic
centers, NET centers) By Region, Competition Forecast & Opportunities, 2026”, the global neuroendocrine tumor market is projected to grow at an
impressive CAGR in the forecast period, 2022-2026, owing its growth to the
attributes like increasing instances of gastrointestinal neuroendocrine tumors,
and lung neuroendocrine tumors along with the technological advancements and
increased government support toward the research and development of the various
biotechnological procedures related to the neuroendocrine carcinoma. American
Society of Clinical Oncology (ASCO) recorded in its latest report, that instance
of neuroendocrine tumors has increased to more than 12000 patients although it
is a rare disease. Thereby, the need of the treatment therapeutics and drugs
have rapidly increased in last few years. Orphan drugs are developed for the
treatment of the cancer the development cost of these drugs is too high and it
may create a minor restraint on the market growth.
Neuroendocrine tumors are excessive growth of the carcinogenic cells
that multiply from the endocrine cells and nerve cells. These tumors are mostly
found in the intestine and thus called carcinoid tumor. Well defined
neuroendocrine tumors can be benign as ell as carcinogenic. Pituitary glands,
thyroid glands, thymus, all can be infected adversely by neuroendocrine tumor.
Chemotherapy, immunotherapy, hormonal therapy, surgery, and targeted therapy
are often utilized to treat the neuroendocrine tumors and these therapies are
continuously being developed and researched on for the effective and efficient
procedures.
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The global neuroendocrine tumor market segmentation is based on therapy type, mechanism
of action, drug type, indication, route of administration, end user, regional
distribution, and
competitional landscape. Based on mechanism of action, the market is further
bifurcated into somatostatin analogs, tyrosine kinase inhibitor, peptide
receptor radionuclide, alfa-interferon, proton pump inhibitors, and others.
Somatostatin analogs are anticipated to assert the dominance over the market
and hold the largest share of the market on the grounds of being safe treatment
procedure. They control cancer growth, symptoms, and target biomarkers.
Based on drug type, the market is further fragmented into everolimus,
sunitib malate, lorlatinib, nivolumab, bevacizumab, and others. Everolimus is
basically an immunosuppressant to prevent the rejection of organ transplants.
It is also utilized for the treatment of neuroendocrine tumors as an mTOR
inhibitor in target therapies, due to its effective nature and FDA approval,
the drug is anticipated to hold the largest share of the market.
Based on indication the market is further bifurcated into gastrointestinal
NET, lung NET, pancreatic NET, appendiceal NET, and others. Instances of
gastrointestinal disorders are increasing and thus it can be anticipated that,
gastrointestinal NET will hold the largest market share in the upcoming five
years. Lung NET is also anticipated for the largest share of the market in the
future five years.
Partial list of major competitors in the global
neuroendocrine tumor market are F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb
AB, Eli Lilly & Company, Novartis AG, Pfizer Inc., Amgen, Inc., Exelixis
Inc., Teva Pharmaceuticals Ltd., Callisto Pharmaceuticals Pvt. Ltd., Boehringer
Ingelheim GmbH, Dauntless Pharmaceuticals Inc., Hutchison MediPharma Limited, AVEO
Pharmaceuticals, Inc., Aegis Therapeutics LLC, Progenics Pharmaceuticals, Inc.
among others. Top players are actively involved in the research and development
of the devices as well as the procedural advancements such that technically
advanced processes can aid the market. Other strategic recommendations include
partnerships and takeovers.
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“North America with its
excellent healthcare facilities is anticipated to be the promising region for
the future investments too. Instances of neuroendocrine tumors are rapidly
rising in the region and thus it can be expected that the largest market is experienced
in the region. Asia Pacific is also expected to show fastest growth in the
market owing to the rising number of gastrointestinal neuroendocrine tumors
among the geriatric population of the developing nations like India and China,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based Global management consulting firm.
“Global Neuroendocrine
Tumor Market By Therapy Type (Chemotherapy, Immunotherapy, Hormonal Therapy,
Surgery, Targeted Therapy, Others) By Mechanism of Action (Somatostatin
Analogs, Tyrosine Kinase Inhibitor, Peptide receptor radionuclide,
Alfa-interferon, Proton pump inhibitors, Others) By Drug Type (Everolimus,
Sunitib malate, Lorlatinib, Nivolumab, Bevacizumab, Others) By Indication
(Gastrointestinal NET, Lung NET, Pancreatic NET, Appendiceal NET, Others) By
Route of administration (Oral, Parenteral, Others) By End User (Hospitals,
Ambulatory Surgical Centers, Oncology Centers, Others (GI centers,
Cardio-thoracic centers, NET centers) By Region, Competition Forecast &
Opportunities, 2026”,
has evaluated the future growth potential of global neuroendocrine tumor and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in global neuroendocrine tumor market.
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