Global Neuroendocrine Tumor Treatment Market Is Expanding Due To Increasing Drug Approvals For Treatments And Growing Prevalence Of NET

 

Neuroendocrine Tumor Treatment Market

Overview:

Most neuroendocrine tumors are hormone-producing, meaning they produce excess levels of hormones in the blood and cause symptoms. Symptoms vary based on the location of the cancer. A healthcare provider will use a grading system to help decide the exact treatment. They will consider the patients age, general health, the stage of cancer. Peptide receptor radionuclide therapy is a new molecular targeted therapy. It works to kill cancer cells by targeting abnormalities in the DNA of the tumor. This treatment is available as part of clinical trials and may be a good option for certain NETs. Chemotherapy and radiation drugs kill cancer cells with strong chemicals that can be given in a pill or injected through a vein in the arm. They can also be combined with other treatments, such as targeted drug therapy or surgery. Embolization can be done alone or in combination with chemotherapy and/or radiation. It involves using tiny beads of glass or resin that contain low levels of a radioactive material called yttrium-90.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global neuroendocrine tumor treatment market over the forecast period.  For instance, IBSRELA was made available by Ardelyx, a biopharmaceutical company, in April 2022. This is the first and the only NHE3 inhibitor used for treating irritable bowel syndrome in adults. Moreover, high cost of development and lack of awareness is anticipated to restrain growth of the global neuroendocrine tumor treatment market over the forecast period.

Also, North America outbound medical tourism services market is estimated to account for US$ 190,670.8 Mn in terms of value by the end of 2027

Impact of COVID-19:

 

The pandemic impacted the health services for various diseases such as diabetes, cancer, cardiovascular diseases and many more. It also had a negative impact on selective procedures and many surgeries were also cancelled or delayed owing to strict COVID-19 restrictions imposed by several governments across the globe. During this outbreak, healthcare professionals shifted their focus towards patients suffering from COVID-19. This hampered the growth of other treatment options. There was a shortage of medical supplies, drugs, and skilled professionals. This restrained the growth of the global neuroendocrine tumor treatment market. However, the market is estimated to witness growth as many restrictions have been relaxed.

 

Key Takeaways:

 

The global neuroendocrine tumor treatment market is expected to witness high growth, exhibiting CAGR of 10.6 % over the forecast period, due to increasing product approvals. For instance, F. Hoffmann-La Roche Ltd, declared that they received marketing authorization for Rozlytrek from the European Commission in August 2020. This can be used for treating adults and children aged 12 years suffering from advanced non-small cell lung cancer.

North America is anticipated to witness significant growth in the global neuroendocrine tumor treatment market over the forecast period, owing to growing adoption of advanced techniques and increasing technological advancements.

Major players operating in the global neuroendocrine tumor treatment market are Progenics Pharmaceuticals, BoehringerIngelheim International GmbH, IpsenPharma, AVEO Oncology, Pfizer, Inc., Novartis AG, Hutchison MediPharma Limited, and Tarveda Therapeutics.