Neuroendocrine Tumor Market to Grow Consistently During the Forecast Period
Genetic mutations due to environmental factors drive the Global Neuroendocrine Tumor 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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