Neuroendocrine Tumor Treatment Market, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Neuroendocrine Tumor Treatment Market


The global Neuroendocrine Tumor Treatment market size is projected to reach US$ 3.68 billion by 2026, from US$ 2.03 billion in 2020, at a CAGR of 10.4% during 2021-2026. Increasing cases of neuroendocrine tumors (NETs) are expected to accelerate the demand for treatment options, thereby augmenting the market growth over the forecast period. This is a rapidly advancing field as the novel therapies and diagnostic products are being developed.

Some of the ongoing clinical trials include RAD 001 to treat advanced midgut NETs, Lanreotide Autogel for non-functional tumors, and NET-01 chemotherapy for pancreatic tumors.

Ongoing R&D activities in detection techniques, such as Ga labeled radionucleotide therapies and radiofrequency ablation technique, are the major factors driving the demand NET treatment market.

For instance, PSMA Targeted PET Imaging Agent by Progenics Pharmaceuticals, Inc. is under clinical trial phase and is expected to help treat prostate cancer. Heavy investments in the field by cancer research organizations and governments across the globe is another key factor propelling the NET market growth.

For instance, organization, such as The Neuroendocrine Tumor Research Foundation (NETRF), invested more than USD 1.5 million in the development of advanced radiation therapy named Peptide Receptor Radionuclide Therapy (PRRT). In addition, growing Patient Assistance Programs (PAPs), government initiatives for cancer awareness, and extensive R&D by pharmaceutical companies are expected to propel the market growth in the next few years.

Market Segmentation, Outlook & Viewpoint: Global Neuroendocrine Tumor Treatment Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Somatostatin Analogs (SSAs)
  
Targeted Therapy
  
Others

Site Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Lungs
  
Pancreas
  
Colon
  
Small Intestine
  
Others

End-use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Hospitals
  
Clinics
  
Others

Key Players, Recent Developments & Regional Insights: Global Neuroendocrine Tumor Treatment Market

The Somatostatin Analogs (SSAs) and targeted therapy are widely used for the treatment of neuroendocrine carcinoma as they control cancer growth, symptoms, and target biomarkers. SSAs product segment accounted for the largest revenue share as of 2017 owing to safe treatment procedure offered by SSAs.

SSAs are generally used to treat patients who are resistant to radiation therapy and surgery. Many SSAs are currently under clinical trial phase and waiting for approval. Some of these are PEN-221 by Tarveda Therapeutics and DP1038 by Dauntless Pharmaceuticals.

Targeted therapy consists of drugs, such as Sunitinib and Everolimus. Due to fewer side effects associated with these drugs they are used as the first line of therapy for neuroendocrine carcinoma. The other products include chemotherapy, radiation therapy, surgery, andtyrosine kinase inhibitors.

Site Insights

Thesmall intestine segment accounted for the largest revenue share of the global neuroendocrine tumor treatment market in 2017 as GI tract is more prone to developing NETs. According to the statistics published in the investor presentation of Novartis in 2015, GI comprises 61% of the total NETs and among them, tumor in the small intestine was the most common one.

Moreover, statistics published by the American Society of Clinical Oncology (ASCO), in 2016, around 8,000 adults in U.S. were diagnosed with GI tract-carcinid tumor. This increasing prevalence of carcinoid tumor in GI tract is expected to drive the segment growth over the forecast period.

The pancreas segment is expected to have a steady growth during the next few years.Increasing R&D investments for the development of novel therapies for pancreatic NETs are expected to boost the segment expansion. For example, SUNITINIB by Pfizer Inc. is currently under phase III clinical trial and indicated to be used for pancreatic NETs.

End-use Insights

Hospital was the dominant end-use segment, in terms of revenue share, in 2017as a large number of procedures for diagnosis are performed in these facilities. The presence of developed technologies and availability of multiple options for NET diagnosis are expected to further augment the segment growth.

Clinics segment is expected to witness lucrative growth in the coming years due to availability of skilled surgeons and patient-centric treatment options. The others segment includes cancer research organizations and government institutes and is likely to offer high growth potential for NET market in the years to come. .

Regional Insights

North America accounted for the highest market share in 2017 owing to supportive insurance policies in this region facilitating NET treatment, such as Medicare, Medicaid, and Tricare. Moreover, sophisticated healthcare facilities and high R&D expenditure by pharmaceutical companies and regional government for cancer research are other factors driving the North America market.

Asia Pacific market is anticipated to witness significant growth in the coming years due to rising incidence of NETs in the region. Increasing investments by the regional governments to tackle the high unmet clinical needs are also likely to help boost the market development.

Neuroendocrine Tumor Treatment Market Share Insights

The global market is highly competitive and is led by companies, such as Novartis AG; Boehringer Ingelheim International GmbH; Pfizer, Inc.; and Ipsen Pharma. Several other companies in the market include AVEO Oncology,Hutchison MediPharma Limited, and Progenics Pharmaceuticals.

Most of these companies have undertaken strategies, such as product launch, regional expansion, partnership and distribution agreements, to strengthen their makret position. For instance, in January 2018, Novartis AG announced to purchase all the ordinary shares from its subsidiary group Novartis Groupe France S.A., which includes Advanced Accelerator Applications S.A. (AAA).

In June 2018, Boehringer Ingelheim announced to invest USD 270 million to build new Biologicals Development Center (BDC) specialized for immunology and immune-oncology. The initiatives like these are expected to propel the market growth over the forecast period.

Key Insights Covered: Global Neuroendocrine Tumor Treatment Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Neuroendocrine Tumor Treatment industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Neuroendocrine Tumor Treatment industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Neuroendocrine Tumor Treatment industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Neuroendocrine Tumor Treatment industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Neuroendocrine Tumor Treatment industry.

Research Methodology: Global Neuroendocrine Tumor Treatment Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other