Seattle, WA -- (SBWIRE) -- 09/23/2019 -- Increasing cases of 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 leads to high incidence and prevalence of neuroendocrine tumor in the U.S. According to the study published in the JAMA Oncology Journal, the survival rate for all neuroendocrine tumors has increased, especially for distant-stage gastrointestinal neuroendocrine tumors and pancreatic neuroendocrine tumors, owing to availability of effective treatments and early diagnosis.
Moreover, launch of novel treatments and extended indications for approved drugs may contribute to growth of the neuroendocrine tumor treatment market in North America. 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.
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North America neuroendocrine tumor treatment market is expected to dominate the global gastrointestinal NET segment throughout the forecast period. According to Coherent Market Insights analysis, various national universities and small scale pharma-company work on developing various NET drugs and modify clinical approach to treat 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)
Key companies covered as a part of this study include;
Pfizer Inc
Novartis AG
Ispen
Advanced Accelerator Applications
Tarveda Therapeutics
Progenics Pharmaceuticals, Inc.
Hutchison Medipharma Limited
Dauntless Pharmaceuticals Inc.
Exelixis, Inc.
Increasing number of potential drugs in the pipeline is expected to boost growth of the neuroendocrine tumor treatment market
There are several therapies for the treatment of cancer. Targeted therapy is one of the most preferred for the treatment of neuroendocrine tumor. Targeted therapy is a potential and effective method in the treatment of various types of cancer, which is expected to boost demand for targeted NET therapies over the forecast period. Somatostatins effectively aid in the treatment of some types of pituitary tumors. Regulatory approvals for NET are expected to promote research of NET 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 effectively aid in long-term management. Moreover, Avastin (Bevacizumab), a monoclonal antibody, is under study to assess its efficiency in the treatment of carcinoid tumors. Netazepide, gastrin/CCK2 receptor antagonist has the ability to reduce the size of carcinoid tumors of the stomach and high gastrin levels. Regulatory bodies are focused on offering fast-track and orphan drug status to the potential drug candidates that aid in treatment of the rare disease.
Imaging technique is one of the useful tools for assessing key tumor which in turn will boost growth of the neuroendocrine tumor treatment market
There are various other types of neuroendocrine tumors that may occur across various parts of the body and 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 cells of GI, Lungs, and Pancreases. These seldom cause 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, condition may lead to malignant tumor. Proper treatment planning is necessary as Neuroendocrine Tumor Treatment 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 surgical treatment, there are few treatments such as chemotherapy, targeted therapy, radiation therapy, etc. Currently, there is no standard treatment to treat pancreatic Neuroendocrine Tumor Treatment. However, two targeted therapy drugs namely, Afinitor and Sutent have received FDA-approval for treatment of advanced pancreatic neuroendocrine tumors and is beneficial for some patients according to the type and severity of the indication.
However, increasing adoption of advanced diagnostic imaging techniques such as endoscopic ultrasonography would result in very small, clinically insignificant neuroendocrine tumors being discovered coincidentally. These being unrelated to symptoms, such neuroendocrine tumors may not require surgical excision, and hence would fuel growth of the neuroendocrine tumor treatment market.
Report Overview @ https://www.coherentmarketinsights.com/market-insight/neuroendocrine-tumors-treatment-market-129
Detailed Segmentation:
Global Neuroendocrine Tumor Treatment Market, By Drug:
Everolimus
Sunitinib Malate
Lu-Dotate
Lanreotide
Octreotide
Global Neuroendocrine Tumor Treatment Market, By Indication:
Gastrointestinal NET
Lung NET
Pancreatic NET
Others NET
Global Neuroendocrine Tumor Treatment Market, By End User:
Hospitals
Oncology Centers
Others
Global Neuroendocrine Tumor Treatment Market, By Geography:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
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