Neuroendocrine carcinoma market is expected to witness lucrative growth over the forecast period due to increase in incidence of neuroendocrine tumors (NETs) around the globe. This type of cancer occurs in the neuroendocrine system of human body and produce hormones similar to neuroendocrine cells. According to 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. Gastric segment held dominant share as of now and followed by lungs. Therapy segment includes subsegments such as surgery, radiation therapy and chemotherapy. The surgery is further sub-segmented in to 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 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 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 number of NETs clinical trials globally followed by the UK due to the presence of large patient population in this region. According to the National Health Service in 2015, approximately 8,000 people are diagnosed with carcinoid tumor in the UK every year and this number is expected to increase over the forecast period. This shows the potential demand for NETs treatment in Europe in coming years. Asia Pacific neuroendocrine carcinoma market is anticipated to witness lucrative growth due to 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.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
We value your investment and offer free customization with every report to fulfil your exact research needs.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Phone: +91-20-67491414 (Sales)
Email: [email protected]
Phone: +44-2033183840
Email: [email protected]
Phone: +507-8322412
Email: [email protected]
Phone: +27-875502311
Email: [email protected]