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.
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)
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The growing incidence of GI and Lung Neuroendocrine Tumors is a key factor fueling growth of the global neuroendocrine tumor treatment market. According to a research study published by Novartis in 2015, GI Neuroendocrine comprises 61% Neuroendocrine Tumors (NET) diagnosis and 5%-44% of GI NET have advanced disease at time of diagnosis, with survival rate drastically decreasing according to severity. The 5-year survival for NET of the small intestine was 86.2%, 82.7% for stomach and 67.4% for colon. Apart from GI and Lung Neuroendocrine, there are other factors which influence the NET are hormonal imbalance at pituitary gland and thyroid gland. Rising demand for various imagining technique in North America and Europe are factors projected to fuel growth of the global market over the forecast period. Drug portfolio expansion and development of new products that can inhibit the excess hormone production, are some of the other factors augmenting growth of the global neuroendocrine tumor treatment market.
This report segments the global neuroendocrine tumor treatment market on the basis of drug, indication, end user, and geography. On the basis of drug, the neuroendocrine tumor treatment market is categorized into Everolimus, Sunitinib Malate, Lu-Dotate, Lanreotide, and Octreotide. On the basis of indication, the neuroendocrine tumor treatment market is categorized into Gastrointestinal Neuroendocrine Tumor, Lung Neuroendocrine Tumor, Pancreatic Neuroendocrine Tumor and Others Neuroendocrine Tumor. On the basis of end-user, the neuroendocrine tumor treatment market is categorized into hospital, oncology centers, and others which includes GI centers, Cardio-thoracic centers, NET centers. For comprehensive understanding of market dynamics, the global neuroendocrine tumor treatment market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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. Pasireotide is another somatostatin analogue under study for treating NET. Somatostain analogs are the preferred therapy for chronic control and are effective for long-term management. Also, Avastin (Bevacizumab), a monoclonal antibody, is being studied for its efficacy in treating carcinoid tumors. Netazepide, gastrin/CCK2 receptor antagonist, is found to shrink tumors in patients having carcinoid tumors of the stomach and high gastrin levels. Being a rare disease, regulatory agencies are providing fast-track and orphan drug status to the potential drug candidates.
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.