Europe-Barcelona, March 29, 2023 (GLOBE NEWSWIRE) -- Market Size & Growth Rate:
According to the DataM market research report, the global pituitary cancer market is projected to reach US$ 723.26 million by 2030, with a growth rate of 9.4% CAGR over the forecast period from 2023 to 2030.
Market Drivers:
The key factors driving the pituitary cancer market during the forecast period include the increasing prevalence of pituitary cancers, rising oncology investments in research and development activities, enhanced awareness of various diagnostic tests, and a growing demand for non-invasive surgery.
Market Restraints:
Challenges faced by the pituitary cancer market include high treatment costs, lack of awareness, potential side effects of treatment, and stringent regulations that may hinder market growth.
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Market Opportunities:
Opportunities for growth in the pituitary cancer market can be found in the increasing research on pituitary tumor genetics and classification, advancements in imaging tests for pituitary tumors, and innovations in pituitary tumor treatments. These factors are expected to create lucrative opportunities for market players during the forecast period.
COVID-19 Impact Analysis:
The COVID-19 pandemic has moderately impacted the pituitary cancer market. The pandemic disrupted healthcare systems, raising concerns about the impact on non-COVID disease conditions. Cancer diagnosis and management are time-sensitive processes that may be adversely affected by these disruptions.
Furthermore, COVID-19 may be a plausible precipitating risk factor for pituitary apoplexy. SARS-CoV-2 can induce thrombocytopenia, coagulopathy, and platelet dysfunction, and has neural tissue tropism due to ACE2 expression in cerebral vascular endothelium. Data from cancer centers worldwide show that oncology services have been significantly reduced during the COVID pandemic. According to a study published in The Lancet, there is a 54% decrease in the registration of new cancer patients between March 1st and May 31, 2020, a 49% decrease in the number of major cancer surgeries, a 52% decrease in the number of minor cancer surgeries, a 36% decrease in hospital admissions for cancer patients, and a 43% decrease in radiological diagnostic tests.
Market Segmentation:
The global pituitary cancer market is segmented by cancer type into null cell adenomas, prolactin-producing tumors, ACTH-producing tumors, and growth hormone-producing tumors. By treatment type, the market is segmented into radiation therapy, surgery, chemotherapy, and others. The market is also segmented by end-users into hospitals, ambulatory surgical centers, cancer care and research centers, and others.
Based on treatment type, the surgery segment is estimated to hold a significant market share during the forecast period (2023-2030). Surgery is the most commonly used treatment for pituitary gland tumors, involving the removal of the tumor and some surrounding healthy tissue during an operation. A neurosurgeon typically performs this procedure. Surgical removal of the entire tumor is often successful. The transsphenoidal approach is used in approximately 95% of pituitary gland tumor removal procedures. This involves passing through the nasal canal and the septum that divides the two nostrils. The neurosurgeon then follows the sphenoid sinus cavity, which is deep above the back of the throat, to the pituitary gland, which is directly behind it.
Moreover, another surgical option is to create a temporary hole in the skull called a craniotomy to access the region. This can be done with a microscope or an endoscope, which is a long flexible tube, or both, so the neurosurgeon can see the tumor. Each of these treatments is equally safe and effective when performed by an experienced surgeon. Furthermore, the availability of reimbursement for surgery, rising clinical trials for pituitary cancer surgery, and increasing adoption of surgery for treating pituitary cancers are factors driving the segment's growth during the forecast period. For instance, according to ClinicalTrials.com, Nicole Hill conducted a multicenter, randomized, single-blind, intervention trial in 2020, involving 70 patients from this location (140 total treated patients from all sites) undergoing endoscopic transsphenoidal surgery for pituitary abnormalities. The same cohort will be used to assess the role of sinonasal irrigations in patients who have nasoseptal flap reconstructive surgery as part of their treatment. Hence, these factors contribute to the market segment's growth during the forecast period.
Geographical Classification:
The global pituitary cancer market is segmented into major regions, including North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
North America Pituitary Cancer Market:
North America is expected to contribute 42.8% to the global market growth during the forecast period. Factors such as the rising prevalence of pituitary cancers, strong research & development practices, and growing advancements in the field of neurology are expected to boost regional growth during the forecast period.
Asia-Pacific Pituitary Cancer Market:
In the Asia-Pacific region, the increasing awareness of pituitary tumors among the population and rising research in the treatment of pituitary tumors are driving regional growth during the forecast period.
Europe Pituitary Cancer Market:
The European market is expected to grow due to increased R&D initiatives for developing improved pituitary cancer treatment alternatives.
Competitive Analysis:
The global pituitary cancer market comprises numerous international, regional, and local suppliers. Competition in the local market is intense, with vendors competing based on price, product quality, and reliability. To thrive and survive in a competitive market, suppliers must provide cost-efficient and effective products.
Major Companies:
Key companies working towards the growth of the pituitary cancer market include Sigma-Aldrich, Varian Medical Systems, Elekta, Accuray Incorporated, Pfizer, Corcept Therapeutics, Crinetics Pharmaceuticals, Cydan, Novartis AG, Ipsen Group, and others. These major players contribute significantly to market development, innovation, and expansion.
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The Full Report Insights:
The report delivers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It includes in-depth qualitative insights, historical data (2021-2022), and verifiable projections about market size during the forecast period (2023-2030).
Key Features:
- Global Medical Specialty Bags Market segmentation by product, end-user, and region, highlighting key commercial assets and players.
- By Product: Urinary Collection Bags, Continuous Ambulatory Peritoneal Dialysis (CAPD) bags, Anesthesia Breathing Bags, Blood Bags, Ostomy Collection Bags (Single-use and Multiple-use bags), Enteral Feeding Bags, Bile Collection Bags, Sterile Packaging Bags, Resuscitation Bags, PVC Material Based Fluid Bags, Non-PVC Material Based Fluid Bags, Cadaver Bags, Enema Bags, and Ice Bags.
- By End-User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Home Healthcare, and Others.
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa.
- Identification of commercial opportunities in the global medical specialty bags market by analyzing trends and co-development deals.
- In-depth coverage of data insights on various industry forces, such as Porter's Five Forces analysis, supply chain analysis, pricing analysis, and regulatory analysis.
- Excel data sheet with thousands of data points of global medical specialty bags market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key products of all major market players.
- Access to approximately 61 market data tables, 64 figures, and close to 180 pages.
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