Neuroendocrine Tumor Treatment Report Overview
The Global Neuroendocrine Tumor Treatment Market reached USD 5,053.2 million in 2022 and is projected to witness lucrative growth by reaching up to USD 10,398.7 million by 2031. The neuroendocrine tumor treatment market is expected to exhibit a CAGR of 9.7% during the forecast period (2024-2031). The key market players are adopting various strategies such as mergers and acquisitions, product approvals, and agreements to increase product reach and strengthen their product portfolios, in order to enter or expand their business offerings and competitiveness in the neuroendocrine tumor treatment market.
For instance, in June 2021, The National Medical Products Administration of China ("NMPA") authorized saracatinib for drug registration as a treatment for advanced pancreatic neuroendocrine tumors, according to a statement from HUTCHMED (China) Limited ("HUTCHMED") ("pNETs").
The neuroendocrine tumor is a rare tumor that arises from the specialized body cells called neuroendocrine cells. It may occur anywhere in the body but mostly in the pancreas, digestive tract, lungs, rectum, and appendix. The neuroendocrine tumor can be either benign or malignant.
The growing cases of neuroendocrine tumors, increasing product approvals, growing research, and increasing awareness are the factors driving global neuroendocrine tumor treatment market growth in the forecast period.
Market Scope
| Metrics | Details |
| Market CAGR | 9.7% |
| Segments Covered | Therapy Type, Indication, Route of Administration, End User, and Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Therapy Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis key Insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The Increasing Product Approvals are Driving the Global Neuroendocrine Tumor Treatment Market Growth.
The increasing product approvals are driving the global neuroendocrine tumor treatment market growth. For instance, in September 2022, Eli Lilly and Company received the U.S. Food and Drug Administration (FDA) approval for its Retevmo (selpercatinib, 40 mg & 80 mg capsules) indicated for the treatment of locally advanced or metastatic solid tumors with a rearranged during transfection (RET) gene fusion that has progressed on or following prior systemic treatment in adults or in patients who do not have an adequate alternative therapy choice. This indication is authorized under accelerated clearance established on the overall response rate (ORR) and duration of response (DOR). Persisted clearance for this indication may be contingent upon assurance and depiction of clinical usefulness in the confirming trial.
The Treatment-induced Side Effects Are Expected to Hamper the Global Neuroendocrine Tumor Treatment Market Growth.
The side effects caused by the neuroendocrine treatment are expected to hamper the global neuroendocrine tumor treatment market growth during the forecast period. The possible side effects of neuroendocrine tumor treatment include high blood sugars, the development of gallstones, and mild digestive system upset, such as bloating and nausea.
Market Segments
The global neuroendocrine tumor treatment market is segmented based on therapy type, indication, route of administration, end-user, and region.
The Injectable Segment is Expected to Hold a Dominant Position in the Market Over The Forecast Period.
The increasing research investments by various key market payers in developing new drug delivery options are estimated to boost the injectable segment growth and withhold over 68.5% of the total global neuroendocrine tumor treatment market over the forecast period.
For instance, in March 2022, Ipsen a multinational, mid-sized biopharmaceutical corporation concentrated on transformative treatments in oncology, a rare disorder, and neuroscience declared its investment in a new state-of-the-art electronic autoinjector for Somatuline Autogel / Somatuline Depot (lanreotide) developed to enhance the patient experience for individuals living with carcinoid syndrome, acromegaly, or gastroenteropancreatic neuroendocrine tumors.
Source: DataM Intelligence Analysis (2023)
Market Regional Share
North America Holds The Largest Share of The Global Neuroendocrine Tumor Treatment Market.
North America is estimated to hold above 39.4% of the total owing to the increasing prevalence of neuroendocrine cancer in this region. For instance, according to the American Society of Clinical Oncology (ASCO), about 8,000 adults in the United States are diagnosed with a GI tract NET yearly. It is estimated that over 12,000 individuals in the US are diagnosed with NET annually, and about 175,000 individuals live with it.
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.
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.
Global Recession Impact Analysis
The healthcare industry is not completely immune to recession, as healthcare institutions thought firings and employment during past financial downturns. That stated, the industry does cope finer than other sectors because of its essential nature. However, the danger of recession threatens the market as inflation persists increasing. The elevated extent of tension about the persistent recession.
Artificial Intelligence Impact Analysis
The employment of artificial intelligence and machine learning in cancer diagnosis, drug development, and precision medicine in oncology to improve the treatment standard and patient experiences are positively impacting the global neuroendocrine tumor treatment market in the forecast period.
Key Developments
- In May 2022, HUTCHMED Limited, a China-based corporation that develops, manufactures, and sells pharmaceutical products, received a Complete Response Letter (“CRL”) regarding the New Drug Application (“NDA”) from the U.S. Food and Drug Administration for surufatinib indicated for the treatment of pancreatic (“pNETs”) and extra-pancreatic (non-pancreatic, “epNETs”) neuroendocrine tumors (“NETs”).
- In November 2022, Lantheus Holdings, Inc., a corporation that develops, manufactures, sells, and distributes diagnostic medical imaging agents and products and POINT Biopharma Global Inc. (“POINT”) develops next-generation radiopharmaceuticals for the treatment of cancer formed strategic collaboration agreements in which Lantheus will license exclusive worldwide rights to POINT’s PNT2002 and PNT2003 product candidates in development for gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
- In August 2022, Lantheus Holdings, Inc., a corporation that develops, manufactures, sells, and distributes diagnostic medical imaging agents and products, and RefleXion Medical, Inc., a developer of biologically-guided radiotherapy systems for patients with cancer, announced a development and commercialization collaboration to evaluate the use of piflufolastat F 18, Lantheus’ prostate-specific membrane antigen (PSMA)-targeted positron emission tomography (PET) imaging agent, to enable real-time therapeutic guidance of biology-guided radiotherapy1 (BgRT) in prostate cancer using the RefleXion X1 platform.
Why Purchase the Report?
- To visualize the global neuroendocrine tumor treatment market segmentation based on therapy type, indication, route of administration, end-user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of neuroendocrine tumor treatment market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global neuroendocrine tumor treatment market report would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
