Neuroendocrine Tumor Treatment Market: Current Analysis and Forecast (2022-2028)

The global neuroendocrine tumor treatment market is expected to grow at a significant rate of around 10% during the forecast period. Over the course of the forecast period, an increase in the number of cases of neuroendocrine tumors (NETs) is anticipated to accelerate the demand for various treatment options. As new diagnostics and therapies are developed, this is a rapidly developing field. The demand NET treatment market is primarily driven by ongoing R&D efforts in detection methods like radiofrequency ablation and Ga-labeled radionucleotide therapies.

For instance, Progenics Pharmaceuticals, Inc.'s PSMA Targeted PET Imaging Agent, for instance, is currently in the clinical trial phase and is anticipated to aid in the treatment of prostate cancer. Another important factor driving the expansion of the NET market is the substantial investment in the field made by cancer research organizations and governments worldwide.

Pfizer Inc., Novartis AG, Chiasma Inc., Ipsen, Abbvie Inc., Valeant Pharmaceuticals International Inc., Jubilant Life Sciences Ltd., Teva Pharmaceutical Industries Ltd, F. Hoffmann-La Roche Ltd., and Advanced Accelerator Applications. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst indication, gastrointestinal category to witness robust CAGR during the forecast period"

Based on type, the market is segmented into lungs, pancreas, gastrointestinal, and others. Among them, the gastrointestinal category is to witness the highest CAGR during the forecast period owing to the more number of patients seen for gastric neuroendocrine growths so there is developing prominence and driving this segment.

Moreover, the pancreas portion is supposed to have consistent development during the following couple of years. The expansion of the market is anticipated to be aided by an increase in R&D expenditures for the creation of novel therapies for pancreatic NETs.Pfizer Inc.'s SUNITINIB is being tested in a phase III clinical trial for the treatment of NETs in the pancreas.

"Amongst end-user, the hospitals to hold a significant share in the market in 2020"

On the basis of drive type, the market is categorized into hospitals, clinics, and others. Among these, the hospitals category to hold a significant share of the market in 2020. This is mainly due to these facilities being used for a lot of diagnostic procedures, a large number of patients treated at hospitals, and the availability of trained professionals. The segment's expansion is anticipated to be further bolstered by the availability of numerous NET diagnosis options and developed technologies.

"North America to hold a significant share in the market"

For a better understanding of the market adoption of the cardiac monitoring industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America); Europe (Germany, United Kingdom, France, Spain, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific); and the Rest of World. North American region helped the region to obtain a dominating position in the market. This is mainly due to the well-settled healthcare infrastructure, and availability of medical professionals. Furthermore, rising cases of gastric neuroendocrine tumors, lung neuroendocrine tumors, pancreatic neuroendocrine tumors, and carcinoid tumors in the region are the propel the growth of the market. For instance, carcinoid tumor affects between 3,000 and 30,000 people in the United States, according to data updated in 2021 by the National Center for Advancing Translational Sciences Genetic and Rare Diseases Information Center. These tumors typically originate in the gastrointestinal tract or the lungs. It is anticipated that the market will expand as a result of the widespread incidence of neuroendocrine cancer in the region.  

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