Neuroendocrine Tumours Treatment Market Outlook
According to the report by Expert Market Research (EMR), the global neuroendocrine tumours treatment market Analysis is expected to grow at a CAGR of 10.1% between 2023 and 2028. Aided by the rising incidence of neuroendocrine tumours and the continuous advances in medical technology, the market is expected to grow significantly by 2028.
Neuroendocrine tumours (NETs) are a type of cancer that starts in the neuroendocrine cells, which are present throughout the body. These cells have traits similar to nerve cells and hormone-producing cells, and hence, NETs can occur anywhere in the body. Although some NETs are benign, many are malignant, posing significant health risks to patients. The treatment modalities for NETs include surgery, radiation therapy, hormonal therapy, targeted therapy, and chemotherapy.
The escalation in the global incidence of NETs is driving the neuroendocrine tumours treatment market growth. According to the American Society of Clinical Oncology, the incidence of NETs has been increasing over the past few decades, with over 12,000 new cases diagnosed each year in the United States alone. This surge in NETs prevalence has led to a corresponding rise in demand for effective NET treatments.
In parallel, there has been a considerable shift towards targeted therapies for treating NETs. These therapies are designed to target specific molecules and pathways involved in tumour growth and progression. With their potential to provide more effective and personalised treatment, targeted therapies are fast gaining acceptance in the NET treatment landscape, thereby fuelling the neuroendocrine tumours treatment market expansion.
Moreover, the growing awareness of NETs among healthcare professionals and the general public has played a critical role in driving the market expansion. With improved awareness comes earlier diagnosis and more prompt treatment, leading to a greater demand for NET therapies.
The applications of various treatment modalities in the NET treatment market also significantly contribute to the neuroendocrine tumours treatment market development. Surgery remains the most effective treatment for NETs if the tumour is localised and can be entirely removed. In cases where surgery isn’t viable, radiation therapy, hormonal therapy, and chemotherapy are used, often in combination, to treat the disease.
Further, the evolution of theragnostic – a combination of diagnostics and therapeutics – has revolutionised the treatment of NETs. By using radio-labelled molecules, theragnostic allows precise imaging of NETs, as well as targeted radiation therapy. This precision medicine approach has the potential to increase the effectiveness of treatment while reducing side effects, thereby contributing to neuroendocrine tumours treatment market growth.
Finally, the continued advancements in medical technology are expected to boost the NET treatment market further. Technological innovations, such as molecular genomics, bioinformatics, and AI, are poised to revolutionise NET diagnosis and treatment. By providing a deeper understanding of tumour biology, these technologies can facilitate the development of novel treatment strategies, promoting the neuroendocrine tumours treatment market expansion.
Neuroendocrine Tumours Treatment Market Segmentation
The market can be divided based on treatment type, indication, end use, and region.
Market Breakup by Treatment Type
- Targeted Therapy
- Chemotherapy
- Somatostatin Analogues (SSAs)
Market Breakup by Indication
- Gastrointestinal NET
- Lung NET
- Pancreatic NET
- Others
Market Breakup by End Use
- Hospitals
- Clinics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Neuroendocrine Tumours Treatment Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global neuroendocrine tumours treatment companies. Some of the major key players explored in the report by Expert Market Research are as follows
- Pfizer Inc
- Novartis AG
- Ipsen Pharma
- Abbvie Inc.
- AVEO Pharmaceuticals, Inc
- Others
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