Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Neuroendocrine Tumor Treatment Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028 Segmented By Product Analysis, By Site Analysis, By End User, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global neuroendocrine tumor treatment market is anticipated to escalate in the forecast period, 2024-2028. This can be attributed to the rising prevalence of neuroendocrine tumors across the globe.
The incidence of neuroendocrine tumors has increased notably in the past three to four decades, according to an article published in the Journal of Cancers in April 2022. Neurofibromatosis type 1 (NF1), tuberous sclerosis complex (TSC) disease, multiple endocrine neoplasia type 1 (MEN1), multiple endocrine neoplasia type 2 (MEN2), and Von Hippel-Lindau syndrome (VHL) can be owed to the increased prevalence of neuroendocrine tumor (NET). In the United States, more than 12,000 people are diagnosed with a neuroendocrine tumor per year, and around 175,000 people are living with it, according to the most recent American Society of Clinical Oncology Neuroendocrine Tumor Statistics, which was updated in February 2022.
Carcinoid tumor, which typically manifests in the gastrointestinal tract (GIT) or the lungs, affects between 3,000 and 30,000 persons in the United States, according to data updated in November 2021 by the National Center for Advancing Translational Sciences - Genetic and Rare Diseases Information Center. The high frequency of neuroendocrine cancer patients worldwide is anticipated to contribute to the market's growth.
The treatment techniques for neuroendocrine tumors such as targeted therapy, radionuclide treatment, somatostatin analogs, immunotherapy, CAR-T-Cell therapy, INF ?, trans arterial treatment, vaccines, bispecific antibodies, and cytotoxic chemotherapy of highly differentiated and low differentiated G1 and G2 GEP neuroendocrine tumor treatments (NETs) have also observed innovations in the past few years. This advancement in treatment techniques has led to a robust improvement in the growth of the neuroendocrine tumor treatment market. Furthermore, there has been a severe betterment in the survival rates of all neuroendocrine tumor treatments, according to a study published in the JAMA Oncology Journal in 2017.
Increased Government Initiatives
The governments of many developed nations like the United States are raising funds for research in cancer to assist in its diagnosis as well as treatment. The government is also funding numerous clinical trials to encourage companies to develop successful and effective cancer treatments. For instance, with federal government funding in cancer research, which is essential to assuring a future free of cancer, the American Institute for Cancer Research has financed almost USD110 million in research as of April 2021.
Additionally, under the 2021 Rare Cancers, Rare Illnesses and Unmet Need (RCRDUN) grant opportunity, The Department of Health of the Commonwealth of Australia January 2022 announced the availability of a grant for the study of rare cancers and rare diseases for USD 63.4 million.
Moreover, for the project `Implementing a Nurse-Enabled, Shared-Care Model to Address Unmet Needs of People with Neuroendocrine Tumor: the AUS-NET Trial,` Flinders University specifically obtained USD 2,374,220.10 in funding. Also, USD 1.5 million was invested by The Neuroendocrine Tumor Research Foundation (NETRF) for the development of Peptide Receptor Radionuclide Therapy (PRRT), an advanced radiation therapy.
Steps were taken by the Companies
Plenty of players in the industry are also adopting strategies, for example, partnerships and collaborations, novel product launches, agreements related to distribution along with a regional extension to establish their market position. For example, Boehringer Ingelheim GmbH declared an investment of USD 270 million for the construction of a new Biologicals Development Center (BDC) that will be specializing in immunology as well as immune-oncology in June 2018. Additionally, Novartis AG, in January 2018 announced to buy of all the ordinary shares from its subsidiary group Novartis Groupe France S.A., also inclusive of Advanced Accelerator Applications S.A. (AAA).
Market Dynamics
Drivers
- Developments and Approval of Novel Drugs
- Use of Artificial Intelligence (AI) in Treatment Techniques
- Increased Government and Company's' Initiatives
Challenges
- High Cost of the Treatment
- Associated Side Effects of the Treatment
- Stringent Regulatory Framework
Market Trends & Developments
- Upcoming Patient Assistance Programs (PAPs)
- Ongoing Clinical Trials and R&D Programs
- Adoption of Next-Generation Sequencing Techniques
Report Scope:
In this report, global neuroendocrine tumor market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Neuroendocrine Tumor Treatments Market, By Product Analysis:
- Somatostatin Analogs (SSA)
- Targeted Therapy
- Others
Neuroendocrine Tumor Treatments Market, By Site Analysis:
- Lungs
- Pancreas
- Colon
- Small Intestine
- Others
Neuroendocrine Tumor Treatments Market, By End User:
- Hospitals & Clinics
- Ambulatory Care Centers
- Others
Neuroendocrine Tumor Treatments Market, By Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Clinical Trial Analysis
6. Global Neuroendocrine Tumor Treatment Market Outlook
7. Asia-Pacific Neuroendocrine Tumor Treatment Market Outlook
8. Europe Neuroendocrine Tumor Treatment Market Outlook
9. North America Neuroendocrine Tumor Treatment Market Outlook
10. South America Neuroendocrine Tumor Treatment Market Outlook
11. Middle East and Africa Neuroendocrine Tumor Treatment Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
A selection of companies mentioned in this report includes
- F Hoffmann-La Roche AG
- Bristol-Myers Squibb Co
- Eli Lilly & Co
- Novartis AG
- Pfizer Inc
- Amgen Inc
- Exelixis Inc
- Teva Pharmaceutical Industries Ltd
- AVEO Pharmaceuticals Inc
- Hutchison MediPharma Ltd
For more information about this report visit https://www.researchandmarkets.com/r/khgspl
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