Market Analysis: Global Carcinoid Syndrome Drug Market
Carcinoid syndrome drug market is rising gradually with a healthy CAGR in the forecast period of 2019-2026. Government policies and initiatives to offer a fund to many research institute and pharmaceuticals companies for developing novel therapy and emergence of drugs used in the treatment of neuroendocrine tumors are the key factors for market growth.
Market Definition: Global Carcinoid Syndrome Drug Market
Carcinoid Syndrome is also known as carcinoid cancer or neuroendocrine tumor carcinoid type is ultra-rare endocrinology disorder develops in patients with carcinoid tumors and is characterized by cutaneous flushing, diarrhea and abdominal cramps. The carcinoid syndrome results from the production of vasoactive substances (including serotonin, bradykinin, histamine, prostaglandins, polypeptide hormones) secreted by the neuroendocrine tumorous cells.
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According to the statistics published in the National Organization for Rare Disorders, Inc, it was identified up to 27new cases in every one million people diagnosed with carcinoid tumors in the United States. The certain toxin and change in hormonal chemical substances have largely contributed to the rising prevalence of carcinoid syndrome and accelerating demand of novel therapies are the key factors to the market growth.
Market Drivers
• Rising awareness about treatment and technological advancement is driving the growth of market
• Adoption of unhealthy life style, irregular eating habits and lack of physical exercise also drives the market growth
• Rapid adoption of newer formulations and novel dosage forms boosts the market growth
• The emergence of drugs used in the treatment of risk associated with neuroendocrine tumor can also drive the growth of this market
Market Restraints
• High cost involved in treatment and diagnosis restricts the market growth
• Lack of expertise and inadequate knowledge about carcinoid syndrome in some developing countries also hinders the market growth
• Scientific and major technical challenges for production of disease specific novel therapies acts as a restraint for this market
Segmentation: Global Carcinoid Syndrome Drug Market
By Organ Affected
• Small Intestine
• Lungs
• Rectum
• Appendix
• Colon
• Stomach
• Pancreas
• Liver
• Others
By Therapy Type
• Chemotherapy
• Biological Therapy
• Radiotherapy
By Treatment
• Medication
• Surgery
By Drug
• Octreotide
• Telotristat Etiprate
• Lanreotide
• Others
By Route of Administration
• Oral
• Injectable
By Distribution Channel
• Online Pharmacy
• Direct Tenders
• Retailers
• Others
By End-Users
• Hospitals
• Homecare
• Specialty Clinics
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• South America
o Brazil
o Rest of South America
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Turkey
o Belgium
o Netherlands
o Switzerland
o Rest of Europe
• Asia-Pacific
o Japan
o China
o South Korea
o India
o Australia
o Singapore
o Thailand
o Malaysia
o Indonesia
o Philippines
o Rest of Asia Pacific
• Middle East & Africa
o South Africa
o Rest of Middle East & Africa
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Key Developments in the Market:
In February 2018, Ipsen Biopharmaceuticals, Inc received Health Canada approval in Canada for Somatuline Autogel (lanreotide injection) for the treatment of carcinoid syndrome in adult patients with neuroendocrine tumours (NETs). This new indication of Somatuline Autogel significantly changes the treatment landscape for patients
In February 2017, LEXICON PHARMACEUTICALS, INC received the FDA approval for Xermelo (telotristat ethyl), an oral serotonin inhibitor for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog (SSA) therapy in cancer patients with metastatic neuroendocrine tumor. This approval of Xermelo helps patients suffering from carcinoid syndrome diarrhea throughout the United States
Competitive Analysis:
Global carcinoid syndrome drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Global Farber's Disease Drug market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Players:
Few of the major competitors currently working in the global carcinoid syndrome drug market are Novartis AG, Teva Pharmaceutical Industries Ltd., Mylan N.V., LEXICON PHARMACEUTICALS, INC, Ipsen Biopharmaceuticals, Inc, Sirtex SIR-Spheres Pty Ltd, BTG International Ltd, WOCKHARDT, Sun Pharmaceutical Industries Ltd, Amgen Inc, Entrinsic Health Solutions, Inc., Camurus AB, Endo Pharmaceuticals Incand many others
Primary Respondents
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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