PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378550
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378550
The global neuroendocrine tumor treatment market is estimated to be valued at US$ 3.24 Bn in 2023 and is expected to exhibit a CAGR of 6.2% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 3.24 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.20% | 2030 Value Projection: | US$ 4.94 Bn |
Neuroendocrine tumors (NETs) are a type of cancer that begins in the specialized cells of the body's neuroendocrine system. These cells have traits of both hormone-producing endocrine cells and nerve cells. They are found throughout the body's organs and help control many of the body's functions. NETs are relatively rare and can occur anywhere in the body, but most commonly occur in the lungs, appendix, small intestine, rectum, and pancreas. Neuroendocrine tumors (NETs) can be non-functioning (without symptoms) or functional (with symptoms). Symptoms of functional NETs depend on which hormone is produced, while non-functioning NETs are often detected during imaging tests performed for other reasons. Some NETs are aggressive and fast-growing, while others are slow-growing. The global neuroendocrine tumor treatment market is expected to grow significantly in the coming years. This growth is driven by several factors, including an increase in the prevalence of neuroendocrine tumors, advancements in diagnostic technologies, and the development of new and effective therapies. The treatment of NETs typically involves a combination of surgery, radiation therapy, and medications. The specific type of treatment used is frequently determined by the tumor's form and stage as well as the patient's general condition. In recent years, there has been a significant increase in the development of targeted therapies for NETs. These therapies work by specifically targeting cancer cells, which can help minimize damage to healthy cells.
NETs are sometimes called carcinoid tumors, can be symptomatic or asymptomatic and may go undiscovered for years if there are no outward indications or symptoms. NETs are generally characterized by their ability to produce peptides that lead to their syndromes. Thus, increasing research and development activities for the treatment of patients suffering from neuroendocrine tumors is expected to foster market growth over the forecast period. For instance, in March 2022, Amyrt Pharma plc, a commercial stage pharmaceutical company, reported successful bioavailability study for Mycapssa (octreotide capsules) in a planned Phase 3 study in the treatment of carcinoid symptoms associated with neuroendocrine tumor (NET). Furthermore, from the same source above, according to the study, Mycapssa dosages up to 80mg showed the anticipated dose proportionality and bioavailability along with an acceptable safety and tolerability profile.