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The global burden of tumors is increasing at a significant rate globally. Neuroendocrine tumors (NET) are a rare type of tumors that arise from the cells of the endocrine/hormonal system and the nervous system. Neuroendocrine tumors mostly arise in the intestinal system where they are referred to as carcinoid tumors but can also arise in other parts of the body such as appendix, rectum, pancreas, and lungs. In terms of nature, neuroendocrine tumors can be either be benign or cancerous. Neuroendocrine tumors are broadly classified into two categories namely, carcinoid tumors (arising in the appendix, digestive tract, lungs or lymph nodes, amongst others) and pancreatic neuroendocrine tumors (arising in islet cells of the pancreas).
The symptoms of neuroendocrine tumors include constipation, diarrhea, tummy pains, persistent coughing, low blood sugar, and changes in blood pressure, cardiac issues, and others. The rising prevalence of neuroendocrine tumors is the major reason for the increased clinical studies and new product launch. In January 2018, Novartis AG received FDA approval for Lutathera, radiolabeled somatostatin analog for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs), which is expected to augment the global neuroendocrine tumors treatment market.
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Primary reasons responsible for the growth in global neuroendocrine tumors treatment market are rising prevalence of neuroendocrine tumors, increasing R&D investment, new product launch, and early diagnosis due to advanced diagnostic technique. According to the American Society for Clinical Oncology (ASCO), more than 12,000 individuals in the U.S. are diagnosed with neuroendocrine tumors every year, which is expected to fuel global neuroendocrine tumors treatment market.
The factors limiting the growth of the global neuroendocrine tumors treatment market are stringent government regulations, late diagnosis of neuroendocrine tumors, and associated side effects of the treatment options.
Some of the major companies that are present in the global neuroendocrine tumors treatment market are Novartis AG, Pfizer Inc., Ipsen Pharma, Advanced Accelerator Applications, Tarveda Therapeutics, Boehringer Ingelheim International GmbH, Progenics Pharmaceuticals, Inc., AVEO Pharmaceuticals, Inc., and Hutchison MediPharma Limited.
· Somatostatin Analogues
· Targeted Therapy
By Disease Indication
· Gastrointestinal Neuroendocrine Tumor
· Lung Neuroendocrine Tumor
· Pancreatic Neuroendocrine Tumor
By Route of Administration
By Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the therapy, the chemotherapy segment is anticipated to account for a major portion of the market during the forecast period as its is used as the first line of treatment for tumors owing to its more preference among healthcare providers and patients.
North America is projected to dominate the global neuroendocrine tumors treatment market owing to the rapid adoption of targeted therapy, strategic presence of major manufacturers, increased government research grants on cancer. Also, the FDA approval for Afinitor for the treatment of patients with lung or gastrointestinal (GI) neuroendocrine tumors is anticipated to favor the neuroendocrine tumors treatment in North America. The growth in neuroendocrine tumors treatment market in Europe is likely to propel over the forecast duration due to the increased R&D spending, favorable health reimbursement, and strategic collaborations. Asia Pacific is estimated to register a remarkable growth in the global neuroendocrine tumors treatment market owing to the rising prevalence of neuroendocrine tumors and improving healthcare infrastructure.
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