The global neuroendocrine carcinoma market is expected to witness lucrative growth over the forecast period due to an increase in the incidence of neuroendocrine tumors (NETs) around the globe. This type of cancer occurs in the neuroendocrine system of the human body and produces hormones similar to neuroendocrine cells. According to the American Society of Clinical Oncology (ASCO), approximately 12,000 people in the U.S. are diagnosed with this type of cancer each year. In addition, according to U.S. Surveillance Epidemiology and End Results (SEER) Register, the occurrence of GI neuroendocrine carcinoma has increased 300%-500%, compared to 35 years prior to 2016, thereby providing a lucrative growth platform in near future. In addition, increasing investments in R&D for the development of cost-effective next-generation sequencing tools that are used to develop new therapies for cancer treatment and the ongoing clinical trials are expected to accelerate the neuroendocrine carcinoma market growth.
On the basis of site, the market can be segmented into gastrointestinal, lung, brain, pancreas, and others. The gastric segment held a dominant share as of now and followed by lungs. The therapy segment includes subsegments such as surgery, radiation therapy, and chemotherapy. The surgery is further sub-segmented into radiofrequency ablation (RFA) and local excision. Radiofrequency ablation found to be the only curative method for pancreatic NETs, thereby expected to register notable growth. However, associated disadvantages such as pancreatic fistula, bleeding and tumor spread are expected to slow down the adoption in the coming few years. The local excision is basically done for renal tumors. Chemotherapy found to be the suitable treatment option for pancreatic NETs but there is still no accurate treatment option found to cure carcinoid tumors. Sometimes Surgical excision combined with chemotherapy is used in case of slowly growing tumors.
Continuous efforts undertaken by the pharmaceutical companies in order to develop targeted therapy is expected to drive the demand. Streptozocin (Zanosar) and 5-fluorouracil (Adrucil, 5-FU) are the most commonly used drugs to treat neuroendocrine carcinomas. In recent years, targeted therapy is gaining popularity for the treatment of this cancer type. For instance, Everolimus (Afinitor) by Novartis and Sunitinib (Sutent) by Pfizer are two major drugs that are used for targeted therapy. These drugs are used to treat renal cell carcinomas. Avastin, Atiprimod, and Lutathera are some of the molecules that are in pipeline for the treatment of NETs.
The market is segmented based on the diagnostic tools in imaging, biopsy, serology, and others. The serology segment is further classified into urine test, blood test, molecular test, and others. The imaging segment is sub-segmented into CT scan, X-ray, PET scan, and others. The increasing adoption of advanced diagnostic imaging techniques that can detect very tiny, clinically insignificant malignant tumors is contributing towards the imaging segment growth over the forecast period.
North America is considered to be the largest market. The increasing incidence of NETs in the U.S. makes this continent the primary market for investment and new product launch. The U.S. ranks first in the number of NETs clinical trials globally followed by the UK due to the presence of a large patient population in this region. According to the National Health Service in 2015, approximately 8,000 people are diagnosed with a carcinoid tumor in the U.K. every year and this number is expected to increase over the forecast period. This shows the potential demand for NETs treatment in Europe in the coming years. Asia Pacific neuroendocrine carcinoma market is anticipated to witness lucrative growth due to an increase in the incidence of NETs in this region.
Some of the major players operating in this market are Novartis AG, Amgen Inc., Boehringer Ingelheim GmbH, Dauntless Pharmaceuticals, Hutchison MediPharma Limited, AVEO Pharmaceuticals, Inc., Chiasma Inc., Aegis Therapeutics, Ispen, Progenics Pharmaceuticals, Inc., Tarveda Therapeutics, Pfizer, Jubilant Life Sciences Ltd.(Jubilant DraxImage), AbbVie Inc., Delcath Systems Inc., Exelixis, Inc., and others. Novartis has the highest number of ongoing clinical trials followed by Ipsen and Pfizer.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent..."
The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.