Global Neuroendocrine Tumor Treatment Market - 2023-2030

Market 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 2030. The neuroendocrine tumor treatment market is expected to exhibit a CAGR of 9.7% during the forecast period (2023-2030). 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, on September 21, 2022, Eli Lilly and Company announced that the U.S. Food and Drug Administration (FDA) approved Retevmo (selpercatinib, 40 mg & 80 mg capsules) for adult patients with locally advanced or metastatic solid tumors with a rearranged during transfection (RET) gene fusion that has progressed on or following prior systemic treatment or who have no satisfactory alternative treatment options. This indication is approved under accelerated approval based on ORR and duration of response (DOR). Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trial.

The growing cases of neuroendocrine tumors, increasing product approvals, growing research, and increasing awareness are the factors driving global neuroendocrine tumor treatment market growth.

Market Dynamics

The Increasing Number of Clinical Research is Driving the Global Neuroendocrine Tumor Treatment Market Growth.

The growing number of clinical research for the treatment of neuroendocrine tumors is driving the global neuroendocrine tumor treatment market growth. For instance, according to a new published by National Cancer Institute in September 2022, a phase I/II clinical trial at the NIH Clinical Center assesses the efficacy of a mixture of two medications that may function in complementary manners to target inoperable or metastatic neuroendocrine tumors. One agent, lutathera, radiates radiation inside the body, inducing DNA damage, and the second agent, olaparib, a PARP inhibitor, stops the restoration of DNA breaks.

The Increasing Government Initiatives and Funding Provide Growth Opportunities to the Global Neuroendocrine Tumor Treatment Market

The increasing government funding and initiatives are presenting the global neuroendocrine tumor treatment market with prospective growth opportunities in the upcoming years. For instance, in January 2022, the Department of Health of the Commonwealth of Australia provided a grant of USD 63.4 million for the rare diseases and rare cancers investigation in response to the 2021 Rare Cancers, Rare Diseases and Unmet Need (RCRDUN) funding prospect.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it to pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

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.

Segment Analysis

The global neuroendocrine tumor treatment market is segmented based on therapy type, indication, route of administration, end-user, and region.

The Pancreatic Neuroendocrine Tumor segment is Estimated to Hold a 20% Share of the Global Market by 2030.

Owing to the increasing research in the pancreatic neuroendocrine tumor, the segment is estimated to hold around 20% of the total neuroendocrine tumor treatment market by 2030. For instance, according to a news article published by Northwestern University, a blend therapy practice employing two chemotherapy medications enhanced therapy reaction and progression-free survival in individuals with advanced pancreatic neuroendocrine tumors.

Geographical Analysis

Europe is Estimated to Hold the Second-largest Global Neuroendocrine Tumor Treatment Market Share During the Forecast Period.

Europe is estimated to hold around 28.7% of the total neuroendocrine tumor treatment market owing to the market developments in this region. For instance, in April 2021, Germany's ITM, or Isotopen Technologien Munchen a privately held biotechnology and radiopharmaceutical group of corporations, secured a $109 million round of loan financing to advance its precision oncology pipeline and fund late-stage development for its neuroendocrine cancer program.

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.

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 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies