Neuroendocrine Tumor Treatment Market
Incidence and prevalence of neuroendocrine tumor (NET) is steadily increasing, mainly due multiple endocrine neoplasia type 1 (MEN1), multiple endocrine neoplasia type 2 (MEN2), neurofibromatosis type 1 (NF1), Von Hippel-Lindau syndrome (VHL), and Tuberous Sclerosis Complex (TSC) disease, in the U.S. Moreover, based on a study published in the JAMA Oncology Journal, 2017, survival rate for all neuroendocrine tumor treatments have improved, especially for distant-stage gastrointestinal neuroendocrine tumor treatment and pancreatic neuroendocrine tumor treatment. This is mainly attributed to availability of effective therapies and early diagnosis of disease. Introduction of new therapies and extended indications for approved drugs would benefit growth of the neuroendocrine tumor treatment market in North America, thereby contributing to growth of the global market. The U.S. is the largest market for NET, in terms of revenue. No specific data is available regarding incidence of neuroendocrine tumors in Canada. However, according to the Canadian Cancer Society, 315 people in Canada were diagnosed with endocrine cancers in 2012 and the rate is increasing with early diagnosis and stage migration.
North America neuroendocrine tumor treatment market is expected to hold dominant position in the gastrointestinal NET segment throughout the forecast period. According to Coherent Market Insights’ analysis, various national universities and small scale pharma-companies are focused on developing various NET drugs and on modifying clinical approach for the treatment of neuroendocrine tumors. This gives pharma and biotech companies a major opportunity to market their products in the U.S.
The global neuroendocrine tumor treatment market was valued at US$ 1,197.3 million in 2015, and is expected to witness a CAGR of 10.5% during the forecast period (2017 – 2025)
Figure 1. Global Neuroendocrine Tumor Treatment Market Share, By Drug (%)
Development of new drugs is expected to boost the neuroendocrine tumor treatment market growth
There are various treatments available for cancer. Targeted therapy is one of the most preferred option for the treatment of neuroendocrine tumor. Targeted therapy is an effective approach for the treatment of cancers. Therefore, the adoption of targeted NET therapies is expected to increase over the forecast period. Although Somatostatins are effective in the treatment of some types of pituitary tumors, regulatory approvals for NET are expected to further encourage its research as a combination therapy with targeted drugs. Pasireotide is another somatostatin analogue under study for the treatment of NET. Somatostain analogs are the preferred therapy for chronic control and are effective for long-term management. Moreover, Avastin (Bevacizumab), a monoclonal antibody, is being studied for its efficacy in the treatment of carcinoid tumors. Netazepide, a gastrin/CCK2 receptor antagonist, is found to shrink tumors in patients having carcinoid tumors of the stomach and high gastrin levels. Being a rare disease, regulatory agencies are focused on offering fast-track and orphan drug status to the potential drug candidates for the treatment of the disease.
Imaging technique is one of the useful tools for assessing key tumor, which in turn is expected to boost growth of the neuroendocrine tumor treatment market
There are various types of neuroendocrine tumors that may occur across other body parts and may have different growth patterns. The other neuroendocrine tumors include thymus, thyroid gland, adrenal gland, and pituitary gland. These neuroendocrine cells multiply at a very slow pace as compared to a regular neuroendocrine cell of GI, lungs, and pancreases. These tumors seldom offer symptoms at an early diseases stage. However, when these symptoms are identified, they are sometimes misdiagnosed as any other lump. It is highly important to identify the other neuroendocrine tumors, as if left undiagnosed, the condition may lead to malignant tumor. Proper planning of the treatment is necessary as the neuroendocrine tumor that can otherwise be contained in a particular area of the body, may spread to nearby tissues or lymph nodes and may eventually spread throughout the body. There are limited treatment options for pancreatic neuroendocrine tumors. One of the most significant and common treatment is surgical removal of tumors. Apart from the surgical treatment, there are few treatments such as chemotherapy, targeted therapy, and radiation therapy. Currently, there is no standard treatment for pancreatic neuroendocrine tumor. However, two targeted therapy drugs namely, Afinitor and Sutent have received the U.S. FDA-approval for the treatment of advanced pancreatic neuroendocrine tumors and are beneficial for some patients according to the type and severity of the indication.
Neuroendocrine tumors (NETs) result from the abnormal growth of neoplasms that originate from cells of the various endocrine glands and nervous systems. Though most of these are benign, some tend to become malignant and may turn cancerous in the long term. Neuroendocrine tumors are generally infected firstly in intestine, which are often known as carcinoid tumors, pancreas is the second most prime organ in the body where the growth of NET is common.
The neuroendocrine tumor treatment market is expected to gain steady traction in the foreseeable future as there are many products in various pharmaceutical company product pipeline. As there is an increase in NET incidence in various geographies, there is a need for fast tract drug approval process which will bring the products in market in a very short time.
The growing incidence of GI and Lung Neuroendocrine Tumors is a key factor fueling growth of the global neuroendocrine tumor treatment market. According to a research study published by Novartis in 2015, GI Neuroendocrine comprises 61% Neuroendocrine Tumors (NET) diagnosis and 5%-44% of GI NET have advanced disease at time of diagnosis, with survival rate drastically decreasing according to severity. The 5-year survival for NET of the small intestine was 86.2%, 82.7% for stomach and 67.4% for colon. Apart from GI and Lung Neuroendocrine, there are other factors which influence the NET are hormonal imbalance at pituitary gland and thyroid gland. Rising demand for various imagining technique in North America and Europe are factors projected to fuel growth of the global market over the forecast period. Drug portfolio expansion and development of new products that can inhibit the excess hormone production, are some of the other factors augmenting growth of the global neuroendocrine tumor treatment market.
This report segments the global neuroendocrine tumor treatment market on the basis of drug, indication, end user, and geography. On the basis of drug, the neuroendocrine tumor treatment market is categorized into Everolimus, Sunitinib Malate, Lu-Dotate, Lanreotide, and Octreotide. On the basis of indication, the neuroendocrine tumor treatment market is categorized into Gastrointestinal Neuroendocrine Tumor, Lung Neuroendocrine Tumor, Pancreatic Neuroendocrine Tumor and Others Neuroendocrine Tumor. On the basis of end-user, the neuroendocrine tumor treatment market is categorized into hospital, oncology centers, and others which includes GI centers, Cardio-thoracic centers, NET centers. For comprehensive understanding of market dynamics, the global neuroendocrine tumor treatment market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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*Browse 20 market data tables and 30 figures on "Neuroendocrine Tumor Treatment Market - Global forecast to 2025”.
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