Neuroendocrine Tumors Market
Market Overview
The Neuroendocrine Tumor Market is expected to witness market growth during the forecast period of 2023 to 2030. Pharmanucleusanalyzes that the market is growing with a CAGR of 10.4% during the forecast period of 2023 to 2030 and is expected to to reach USD 5,300.53 million by 2030. Increased incidence of neuroendocrine tumor cases acts as a driver for neuroendocrine tumor market
Market Definition
Neuroendocrine tumors (NETs) are a type of rare and heterogeneous group of tumors that originate from neuroendocrine cells found throughout the body. These cells produce hormones and play a crucial role in regulating bodily functions. Neuroendocrine tumors can develop in various organs, including the gastrointestinal tract, lungs, pancreas, and other parts of the body. They can be either benign or malignant and exhibit diverse clinical behaviors. The neuroendocrine tumors market refers to the global market for diagnostic tools, treatment options, and supportive therapies aimed at managing and treating patients with neuroendocrine tumors, providing improved outcomes and quality of life.
Market Dynamics
The neuroendocrine tumors (NETs) market dynamics are influenced by factors such as increasing incidence and prevalence of NETs, advancements in diagnostic technologies, rising awareness, and evolving treatment options. Additionally, factors such as healthcare infrastructure, reimbursement policies, and research and development activities impact market growth. The market is characterized by a competitive landscape with the presence of key players striving to develop innovative therapies and diagnostic tools for improved patient outcomes.
Market Resistant
The neuroendocrine tumors market faces resistance due to factors such as limited awareness and delayed access to specialized care, high treatment costs, lack of standardization in diagnostic criteria and treatment guidelines, and limited understanding of the disease's mechanisms.
Market Segmentation
The neuroendocrine tumors (NETs) market can be segmented based on several factors, including tumor type, site of origin, diagnosis, treatment, and end-user. Here is a brief overview of each segmentation category:
Tumor Type: Neuroendocrine tumors can be classified into various types based on their cellular characteristics, such as well-differentiated NETs (including low-grade and intermediate-grade tumors) and poorly differentiated neuroendocrine carcinomas (NECs).
Site of Origin: NETs can develop in different organs and tissues, including the gastrointestinal tract, lungs, pancreas, and other sites. Each site may have specific diagnostic and treatment approaches.
Diagnosis: This segment includes various diagnostic techniques used for detecting and staging neuroendocrine tumors, such as imaging modalities (CT scans, MRI, PET scans), laboratory tests (chromogranin A, serotonin, 5-HIAA), and histopathological examination of biopsy samples.
Treatment: The treatment segment encompasses different therapeutic options for managing neuroendocrine tumors. It includes surgery, targeted therapies (such as somatostatin analogs, peptide receptor radionuclide therapy), chemotherapy, immunotherapy, and other emerging treatment modalities.
End-user: The end-user segment focuses on the types of healthcare facilities and professionals involved in the management of neuroendocrine tumors. This can include hospitals, specialty clinics, research institutes, and oncologists, endocrinologists, and gastroenterologists specializing in neuroendocrine tumor care.
Market Analysis and Insights:
Tumor initiation takes place when the DNA of healthy cells is damaged, causing cells to change and grow in an uncontrolled manner, forming an aggregated mass of cells. A tumor can be cancerous and benign. A malignant cancerous tumor grows and spreads to other parts of the body if not detected early and treated. A benign tumor may grow but not spread. A benign tumor can usually be removed using minimally invasive surgery without causing much damage.
Technological advancements for the detection of neuroendocrine tumors are expected to drive the neuroendocrine tumor market. High capital investment and low benefit-cost ratio for biomarkers and orphan drugs is the restraining factor for the growth of the neuroendocrine tumor market. Emerging therapies and development of treatment through the advancement of technologies provide an excellent opportunity for the growth of the neuroendocrine tumor market. Strict government regulations on the development of neuroendocrine tumor drugs pose a challenge for the growth of the neuroendocrine tumor market.
The Neuroendocrine Tumors Market report provides market share details, new developments and product pipeline analysis, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets , changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions and technological innovations in the market. To understand the Neuroendocrine Tumor Market analysis and scenario, contact Pharmanucleus for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired objective.
Market Scope and Size
The neuroendocrine tumors market is segmented on the basis of the classification, site, grade, type, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Neuroendocrine tumours are classed as functional or non-functional net tumours. The non-functional net category will lead the neuroendocrine tumours market in 2023 due to the ease of identification and diagnosis, as well as the advent of breakthrough diagnostic technologies to remove the non-functional net.
- There are three forms of neuroendocrine tumours: lung, pancreas, and gastrointestinal tract (GI). The gastrointestinal tract (GI) sector is predicted to lead the neuroendocrine tumours market in 2023, owing to the increased prevalence of stomach cancer and the availability of a solid product pipeline.
- There are three forms of neuroendocrine cancer: grade 1 (low-grade tumour), grade 2 (intermediate-grade tumour), and grade 3 (high-grade tumour). Because it responds well to therapeutic treatments, the grade 2 (intermediate-grade tumour) category is predicted to dominate the neuroendocrine tumours market in 2023, with a rise in instances driving the market.The neuroendocrine tumour market is separated into two parts: diagnostic and therapeutic. The diagnosis sector is expected to dominate the neuroendocrine tumours market in 2023, owing to the increasing incidence of pancreatic cancer tumours and improved market adoption of automated point-of-care diagnostics.
- On the basis of route of administration, the neuroendocrine tumor market is segmented into oral and parenteral. In 2023, the oral segment is expected to dominate the neuroendocrine tumor market owing to the availability of drugs in oral form, higher patient compliance and ease of absorption.
- On the basis of end-user, the neuroendocrine tumor market is segmented into hospitals, specialty clinics, radiation therapy centers, home care, and others. In 2023, the hospital segment is expected to dominate the neuroendocrine tumor market owing to the availability of diagnostic machines to detect neuroendocrine tumors with the availability of healthcare policies.
- The neuroendocrine tumours market is divided into direct tender, hospital pharmacy, retail pharmacy, internet pharmacy, and others based on distribution channel. Because of the growing number of suppliers in the sector, the direct tender category is likely to lead the neuroendocrine tumours market in 2023.
Market Barriers
Several barriers exist in the neuroendocrine tumors (NETs) market. Limited awareness among healthcare professionals and the general population can result in delayed diagnosis and treatment. The rarity and heterogeneity of NETs pose challenges in understanding the disease and developing standardized treatment approaches. High treatment costs and limited reimbursement options can create financial barriers for patients. Inadequate access to specialized care, particularly in remote areas, can hinder timely interventions. Additionally, the limited availability of targeted therapies and the absence of effective treatment options for advanced or metastatic NETs are significant barriers in the market. Overcoming these barriers is crucial for improving patient outcomes and advancing the neuroendocrine tumors market.
Post COVID Impact
The neuroendocrine tumors (NETs) market has experienced significant growth and transformation in recent years. With the outbreak of the COVID-19 pandemic, the market dynamics have been further influenced. Neuroendocrine tumors are rare and often challenging to diagnose and treat, requiring specialized medical expertise and targeted therapies.
The COVID-19 pandemic has had a mixed impact on the neuroendocrine tumors market. On one hand, the pandemic led to disruptions in healthcare services, including delays in screenings, diagnoses, and treatments for non-urgent conditions such as NETs. This resulted in a temporary decline in patient volumes and market growth. Moreover, the redirection of healthcare resources and prioritization of COVID-19 care affected the availability of specialized services for NET patients.
On the other hand, the pandemic has also fueled advancements in telemedicine and digital health technologies, enabling remote consultations, monitoring, and treatment options. This has facilitated access to specialized care for patients with neuroendocrine tumors, especially those in remote areas. Additionally, the increased focus on personalized medicine and targeted therapies has driven research and development efforts in the neuroendocrine tumors market.
Furthermore, the COVID-19 pandemic has underscored the importance of early detection and proactive management of chronic diseases. This renewed emphasis on preventive healthcare and improved healthcare infrastructure is expected to drive the demand for neuroendocrine tumor diagnostics and therapeutics in the post-pandemic period.
Regional Analysis
Global neuroendocrine tumors market is analysed and market size information is provided by the country, classification, site, grade, type, route of administration, end user and distribution channel as referenced above.
North America dominates due to the presence of the largest consumer market with high GDP. Additionally, the United States has the world's highest household spending in the North American neuroendocrine tumor market and offers trade agreements with several countries, making it the largest market for consumer products, including including diagnostic products. Germany is dominating the European neuroendocrine tumor market due to increasing cases of neuroendocrine tumors, increased need for targeted therapies and increasing disposable income. China dominates the neuroendocrine tumor market in Asia Pacific owing to the availability of healthcare compensation policies that would result in taking care of all expenses for neuroendocrine tumor and certain privileges offered to senior citizens of the region.
The country section of the report also provides individual market impacting factors and regulatory changes in the national market that impact current and future market trends. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major indicators used to forecast the market scenario for each country. In addition, the presence and availability of global brands and the challenges they face due to significant or rare competition from local and national brands, the impact of sales channels are considered while providing a forecast analysis of national data.
Rise in Government Initiatives is creating new Opportunities in the Neuroendocrine Tumors Market
The Neuroendocrine Tumour market also offers complete market research for each country's growth in a specific sector with Neuroendocrine Tumour sales, the influence of Neuroendocrine Tumour advancement, and changes in regulatory situations with their support in the neuroendocrine tumour market. Data is available for the time span 2011 to 2019.
Competitive Landscape
Neuroendocrine Tumor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, research and development investment, new market initiatives, production sites and facilities , company strengths and weaknesses, product launch, product testing pipelines, product approvals, patents, product breadth and scope, application dominance, technology lifeline curve . The data points provided above are only related to the company's direction related to the global neuroendocrine tumor market.
The companies covered in the global neuroendocrine tumors market report are F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Viatris Inc., Thermo Fisher Scientific Inc., Novartis AG, Regeneron Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, LUPIN, Exact Sciences Corporation, Pfizer Inc., Ipsen Pharma, Advanced Accelerator Applications (a subsidiary of Novartis AG), BioSynthema Inc., Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Bionano Genomics, callistopharma, Illumina, Inc., GlaxoSmithKline plc, Hutchison China MediTech Limited among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
The strategic initiatives by the market players with capital investment for neuroendocrine tumors research are bridging the gap between dengue and its treatment.
For instance,
- In August 2023, F. Hoffmann-La Roche Ltd had announced that the European Commission had granted priority approval for marketing authorization for Rozlytrek for treatment of adult and children aged 12 years suffering from advanced non-small cell lung cancer. The approval received is based on the cumulative analysis of phase II clinical trials, STARTRK-2. The approval received by the company would result in rise in research collaborations, timely treatment of the individuals and rise in revenue. It would exhibit a positive growth in the market.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the neuroendocrine tumors market which also provides the benefit for organisation to improve their offering for neuroendocrine tumors treatment products.