Neuroendocrine Tumor Treatment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, and Forecasts 2018 To 2026

The latest market report published by Credence Research, Inc. “Neuroendocrine Tumor Treatment Market - Growth, Future Prospects, Competitive Analysis, 2017 - 2025,” the global neuroendocrine tumor treatment market was valued at US$ 1,159.5 Mn in 2016, and is expected to reach US$ 1,928.9 Mn by 2025 expanding at a CAGR of 5.73 % from 2017 to 2025.

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Market Insights

Neuroendocrine tumors are clinically symptomatic and asymptomatic. The treatment regimen adopted for NETs is curative with emphasis given to control underlying symptoms and complications related to disease etiology with the progression of the disease. Surgery is considered as the first option for the treatment of NET, but as the disease is majorly asymptomatic it is diagnosed when the disease is in metastatic stage and so surgery is not the viable treatment option.

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Targeted therapy and somatostatin analogues have gained tremendous demand over the last decade as they control the symptoms, target biomarkers, and control the growth of cancer. Molecular targeted therapy comprising of drugs such as Everolimus and Sunitinib are considered as the first line treatment due to less side effects associated with the treatment regimen. Somatostatin analogues are preferred by surgeons for treating patients resistant to surgery and radiation therapy for treatment of neuroendocrine tumors.
Technological advancement in the imaging techniques and enhanced funding in the research and development sector to develop promising product pipeline contributing to the North America market growth. Asia pacific will have a reliable growth owing to the rising prevalence of gastrointestinal neuroendocrine neoplasms and supportive regulatory environment for the drugs utilized for the treatment of neuroendocrine tumors.

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The neuroendocrine tumor treatment market consists of market leaders such as Novartis AG, Advanced Accelerator Applications, Ispen, Dauntless Pharmaceuticals, Inc., Exelixis, Inc., Hutchinson Medipharma Limited, Progenics Pharmaceuticals, Inc. and Tarveda Therapeutics.

Key Market Movements:

• Technological advancement in the imaging techniques for precise diagnosis of asymptomatic neuroendocrine tumor will drive the market
• Molecular targeted drug therapy and somatostatin analogues with superior drug safety and efficacy are in the product pipeline
• Expedited drug clearance by the regulatory agencies for neuroendocrine tumor treatment will boost the market growth