Global Neuroendocrine Tumor Treatment Market Growth to be Impelled by a CAGR of ~10% throughout 2022 – 2031

Research Nester published a report titled “Neuroendocrine Tumor Treatment Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global neuroendocrine tumor treatment market in terms of market segmentation by product, disease indication, end user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global neuroendocrine tumor treatment market is estimated to occupy a sizeable amount of revenue by growing at a CAGR of ~10% during the forecast period, i.e., 2022 – 2031, ascribing to the rising occurrence of neuroendocrine carcinoma, and growing development of novel therapies for treating the condition. Along with this, government initiatives and surging funding by health organizations for spreading awareness about the treatment of rare diseases are also expected to accelerate the growth of the market in the forthcoming years.

The market is segmented by product, disease indication and end user. Based on product, the somatostatin analogs segment is anticipated to acquire the largest share during the forecast period on the back of the largescale usage of the product to treat neuro endocrine carcinoma by controlling cancer growth and symptoms. Additionally, based on disease indication, the small intestine segment is projected to grab the largest share over forecast period attributing to the rising prevalence of carcinoid tumors in gastrointestinal tract worldwide.

Geographically, the global neuroendocrine tumor treatment market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the high healthcare expenditure, and availability of advanced treatment options in the region. Moreover, the market in Asia Pacific is assessed to witness noteworthy growth over the forecast period ascribing to the ongoing improvements in the healthcare infrastructure in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising Prevalence of Neuroendocrine Carcinoma Across the World to Drive Market Growth

The American Society of Clinical Oncology (ASCO) states that as of February 2021, more than 12,000 people in the United States alone are diagnosed with neuroendocrine tumor every year. About 175,000 people are living with the disease in the country.

Since the last two decades, more and more people around the world are moving towards living a sedentary lifestyle. In addition, consumption of tobacco and alcohol has also witnessed a rise, which is predicted to give rise to increased prevalence of various types of carcinoid diseases, including neuroendocrine tumor. This in turn is anticipated to drive market growth significantly in the near future.

However, high cost of developing orphan drugs for the treatment is expected to operate as key restraint to the growth of the global neuroendocrine tumor treatment market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global neuroendocrine tumor treatment market which includes company profiling of Novartis AG, Pfizer, Inc., Boehringer Ingelheim International GmbH, Hutchison MediPharma Limited, Elli Lilly and Company, AVEO Pharmaceuticals, Inc., Ipsen Pharma, Progenics Pharmaceuticals Inc, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global neuroendocrine tumor treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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