Neuroendocrine Tumor Treatment Market to Surpass US$ 3,244.7 Million by 2027 - Coherent Market Insights

The Global Neuroendocrine Tumor Treatment Market, by Treatment Type (Somatostatin Analogues (SSAs) (Octreotide, Lanreotide, and Others), Targeted Therapy, Chemotherapy, and Others), by Indication (Gastrointestinal NET, Lung NET, Pancreatic NET, and Other NET), by End User (Hospitals, Oncology Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,448.1 million in 2019 and is expected to exhibit a CAGR of 10.6% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.

Several key players in the market are engaged in conducting clinical trial studies, in order to study the safety and efficiency of already existing therapies in the treatment of neuroendocrine tumors. For instance, on July 3, 2019, Ipsen initiated the clinical trial to study the effectiveness of Lanreotide 120 mg to estimate the progression-free survival (PFS) rate in subjects with locally advanced or metastatic pancreatic neuroendocrine tumor (PanNET) in routine clinical practice. Moreover, on November 28, 2018, Advanced Accelerator Applications initiated the clinical trial to study the long-term safety of LUTATHERA in unresectable or metastatic, well-differentiated, somatostatin receptor positive gastroenteropancreatic neuroendocrine tumor.

Browse 35 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on Global Neuroendocrine Tumor Treatment Market, by Treatment Type (Somatostatin Analogues (SSAs) (Octreotide, Lanreotide, and Others), Targeted Therapy, Chemotherapy, and Others), by Indication (Gastrointestinal NET, Lung NET, Pancreatic NET, and Others NET), by End User (Hospitals, Oncology Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027'

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Furthermore, increasing investments by the research institutes for research studies focusing on the development of the novel therapies for the treatment of neuroendocrine tumors (NETs) is expected to drive the market growth. For instance, in February 2019, the Neuroendocrine Tumor Research Foundation (NETRF) announced grant (funding) of US$ 2.5 million to eight new cancer research centers. With this funding, NETRF is expected to expand its clinical development portfolio in order to develop novel treatment options for treating lung neuroendocrine tumors (NETs).

Currently, there is no standard treatment for pancreatic neuroendocrine tumor. However, two U.S. FDA approved targeted therapy drugs such as Afinitor and Sutent are available in the market for the treatment of advanced pancreatic neuroendocrine tumors and are beneficial for some patients according to the type and severity of the indication. 

Key Takeaways of the Global Neuroendocrine Tumor Treatment Market:

• The global neuroendocrine tumor treatment market is expected to exhibit a CAGR of 10.6% during the forecast period (2019-2027), owing to development and launches of product and generics in the market. For instance, in December 2019, Par Pharmaceutical (Par), one of the operating company of Endo International plc, received the U.S. FDA approval to launch generic Afinitor (everolimus) 2.5 mg, 5 mg, and 7 mg tablets. The drug is indicated for the treatment of gastrointestinal neuroendocrine tumor (NET).
• Furthermore, increasing regulatory approvals of neuroendocrine tumor treatment is expected to drive the market growth over the forecast period. For instance, in November 2019, U.S. Food and Drug Administration (“FDA”) granted the Orphan Drug Designation (ODD) to Surufatinib for the treatment of pancreatic neuroendocrine tumors. The drug is developed by Hutchison China MediTech Limited.
• Major players operating in the global neuroendocrine tumor treatment market include Pfizer Inc, Novartis AG, Ispen, Advanced Accelerator Applications, Tarveda Therapeutics, Progenics Pharmaceuticals, Inc., Hutchison Medipharma Limited, Dauntless Pharmaceuticals Inc., and Exelixis, Inc.