Incidence and prevalence of neuroendocrine tumor is steadily rising, mainly due 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 in the U.S. Moreover, based on a study published in the JAMA Oncology Journal, survival rate for all neuroendocrine tumor treatment have improved, especially for distant-stage gastrointestinal neuroendocrine tumor treatment and pancreatic neuroendocrine tumor treatment. This is mainly attributed to improved outcomes of availability of better therapies and early diagnosis. Introduction of new therapies and extended indications for approved drugs would benefit the growth of neuroendocrine tumor treatment market in North America and in turn is expected to significantly fuel growth of the global market. 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)
Innovate drug in pharmaceutical company product pipeline to boost the Neuroendocrine Tumor Treatment Market
There are various medical treatment to treat cancer, and targeted therapy is one of the most preferred to treat neuroendocrine tumor treatment. Targeted therapy is a futuristic and highly effective approach for treating cancers and hence, targeted NET therapies are projected to gain significant demand in the near future. Though somatostatins are effective in treating some types of pituitary tumors, regulatory approval for NET is expected to further encourage its research as a combination therapy with targeted drugs.
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.and Exelixis, Inc.
Global Neuroendocrine Tumor Treatment Market, By Drug:
• Sunitinib Malate
Global Neuroendocrine Tumor Treatment Market, By Indication:
• Gastrointestinal NET
• Lung NET
• Pancreatic NET
• Others NET
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