The Global Neuroendocrine Tumor Treatment Market Growth Accelerated By Increasing Prevalence Of Neuroendocrine Tumors

NEUROENDOCRINE TUMOR TREATMENT MARKET
Neuroendocrine Tumor Treatment Market

Neuroendocrine tumors are rare tumors that can develop in tissues like lungs, intestines, pancreas and thyroid glands. Treatments for neuroendocrine tumors include medication to slow or stop tumor growth, radiation therapy to shrink tumors or relieve symptoms and surgery to remove cancerous tissue. The increasing prevalence of neuroendocrine tumors has accelerated the demand for effective treatment options.

The global Neuroendocrine Tumor Treatment Market is estimated to be valued at Us$ 3 Bn in 2023 and is expected to exhibit a CAGR Of 8.4% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

 

The increasing prevalence of neuroendocrine tumors across the globe is one of the key trends driving the growth of the neuroendocrine tumor treatment market. Factors such as changing lifestyle, rising consumption of processed and junk foods have contributed to the increasing incidence of neuroendocrine tumors. According to a study published in the journal Neuroendocrinology in 2021, it is estimated that the prevalence of neuroendocrine tumors has increased from approximately 1 per 100,000 people in the 1970s to over 5 per 100,000 people currently in Western countries. The rising disease burden has accelerated the demand for effective treatment and fueled the growth of the neuroendocrine tumor treatment market over the forecast period.

Segment Analysis

The global neuroendocrine tumor treatment market is segmented based on tumor type, product type, and end user. Based on tumor type, the market is segmented into gastroenteropancreatic neuroendocrine tumor (GEP-NEN), lung neuroendocrine tumor, and other neuroendocrine tumor types. The gastroenteropancreatic neuroendocrine tumor segment dominates the market as it accounts for over half of all diagnosed neuroendocrine tumors. According to the Association for Neuroendocrine Tumors (AAEN), GEP-NETs are the most common type of NETs with an estimated global prevalence of 35 cases per 100,000 people.

 

Key Takeaways

 

The Global Neuroendocrine Tumor Treatment Market Demand  is expected to witness high growth over the forecast period. Advances in treatment options and rise in awareness levels for early diagnosis are expected to drive market growth.

The regional analysis shows that North America is currently the dominant region for the neuroendocrine tumor treatment market. This is attributed to factors such as presence of advanced healthcare infrastructure, availability of reimbursement policies, and higher healthcare spending. North America is anticipated to maintain its dominance during the forecast period owing to continuous research for development of new therapeutics in the region.

Key players operating in the neuroendocrine tumor treatment market include Svenska Cellulosa AB, DSG International Ltd., First Quality Enterprises, Inc., Kimberly-Clark Corporation, Abena A/S, Attends Healthcare Products, Inc., Unicharm Corporation, Kao Corporation, Ontex Group, Chiaus (Fujian) Industrial Development Co Ltd and others. These key players have adopted strategies such as partnerships, acquisitions, and new product launches to strengthen their market position.

 

Regional analysis

The Asia Pacific region is expected to witness fastest growth during the forecast period. This growth can be attributed to rising healthcare awareness, improving healthcare infrastructure, and increasing prevalence of neuroendocrine tumor cases in countries such as China and India. Growing geriatric population who are more prone to neuroendocrine tumors will further drive market demand in the region.

 

Key players

Key players operating in the neuroendocrine tumor treatment market include Svenska Cellulosa AB, DSG International Ltd., First Quality Enterprises, Inc., Kimberly-Clark Corporation, Abena A/S, Attends Healthcare Products, Inc., Unicharm Corporation, Kao Corporation, Ontex Group, Chiaus (Fujian) Industrial Development Co Ltd and others. These key players focus on new product launches, collaborations, and acquisitions to gain a competitive edge in the market. For instance, in 2020, Ipsen Pharma entered into a strategic partnership with GENFIT to develop elafibranor in combinations for the potential treatment of patients with neuroendocrine tumors.

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