The scope of the neuroendocrine tumor treatment industry is immense. To capitalize on emerging opportunities, leading companies are employing different strategies. From advancements in treatment modalities to increasing investments in oncology research, the target industry is witnessing a rapid transformation.
In April 2024, Novartis received the U.S. Food and Drug Administration (FDA) approval for Lutathera for the treatment of gastroenteropancreatic neuroendocrine tumors in pediatric patients. This marks the beginning of a new era for pediatric NET treatment, highlighting the growing role of precision medicine in oncology.
Radioligand therapies have great potential to shape the future of cancer care. With this approval, Lutathera became the very first therapy for children with GEP-NETs. It will offer new hope for young patients living with GEP-NETs.
In November 2024, the U.S. FDA notified Exelixis, Inc. that the supplemental new drug application for cabozantinib (CABOMETYX) for the treatment of adults with advanced pNET and epNET will be discussed at the Oncology Drugs Advisory Committee in March 2025. Previously, the FDA granted orphan drug designation to cabozantinib for the treatment of pNET in August 2024.
In July 2024, Ispen expanded its collaboration and license agreement with Exelixis, Inc. for the development of Cabometyx in advanced NETs. The agreement is based on positive CABINET Phase 3 trial outcomes.
In January 2024, Merck announced its plan to acquire Harpoon Therapeutics. This acquisition will help the company to diversify its oncology pipelines. The acquisition includes HPN328, an investigational DLL3 targeting T-cell engager being evaluated in patients with neuroendocrine tumors and small cell lung cancer.
These developments reflect the industry’s evolution towards novel and targeted NET therapeutics. Approval of new drugs, like that of Novartis’ Lutathera, will play a key role in tackling the NET burden and expanding the scope of the neuroendocrine tumor treatment industry.
Ongoing regulatory progress with cabozantinib is set to expand treatment options and improve patient outcomes. Strategic acquisitions, like Merck’s purchase of Harpoon Therapeutics, reflect a growing investment in innovative oncology solutions.
As a result, the global neuroendocrine tumor treatment industry is poised to exhibit a CAGR of 6.2% during the forecast period, according to Coherent Market Insights (CMI). Total industry size will likely reach US$ 4.94 billion by 2030. These new developments will likely become key drivers for the industry’s growth.
Other factors expected to bolster the industry’s growth include rising prevalence of neuroendocrine tumors and increasing government support. Advancements in imaging technologies and increasing diagnostic screening will also benefit the industry during the assessment period.
