The global multiple endocrine neoplasia market is projected to grow at a healthy CAGR of around 6.0% between 2022 and 2032. Increasing consumption of multiple endocrine neoplasia medicines to ease symptoms and improve quality of life is the main force driving the global multiple endocrine neoplasia market.
| Report Attribute | Details |
| Multiple Endocrine Neoplasia Market Projected Growth Rate (2022-2032) | ~6.0% CAGR |
Multiple endocrine neoplasia (MEN) is a group of rare disorders that affects the endocrine system of a person’s body. These disorders are caused by genetic mutations and typically involve tumors in at least two endocrine glands. The MEN tumors can be either benign (noncancerous) or malignant (cancerous).
Presence of multiple endocrine neoplasia can result in the overproduction of hormones which in turn disturbs the proper functioning of body processes such as digestion, growth and reproduction. These tumors can cause various mild and severe symptoms and eventually degrade the quality of life of the affected person.
Multiple endocrine neoplasia has been classified into various types such as type 1 and type 2, depending on the affected gland. type 1 category involves tumors of parathyroid glands, pituitary gland and pancreas while as type 2 multiple endocrine neoplasia mostly affects thyroid and adrenal glands.
As multiple endocrine neoplasia disorders are triggered by genetic mutations, there is no proper treatment available for them right now. However, various drugs are being used to change or maintain the hormonal imbalance in the body. Besides this, tumors can also be surgically removed but that involves much higher risk to the affected individual.
Rising adoption of various advanced drugs such as proton pump inhibitors, dopamine agonist, bromocriptine, and cabergoline for reliving the symptoms and improving the quality of life will continue to boost the growth of multiple endocrine neoplasia market during the forecast period.
The robust expansion of multiple endocrine neoplasia market is attributed to the high prevalence of multiple endocrine neoplasia disorders, increasing research activities for the development of innovative drugs, growing health awareness among people, and rising governmental supports.
Increasing need for treating various types of multiple endocrine neoplasia is emerging as a key factor in driving the global multiple endocrine neoplasia market. These disorders badly affect the proper functioning of human body systems such as digestive system and reproduction system.
As there is no proper treatment available for MEN disorders, people are compelled to use drugs like proton pump inhibitors, dopamine agonist, bromocriptine etc. to relieve symptoms. Increasing consumption of these drugs will continue to boost the growth of multiple endocrine neoplasia market in the future.
Similarly, rising initiatives by government and private organizations for developing advanced treatment therapeutics for rare diseases is positively impacting the market growth. Various new researches are being conducted to explore the mechanism of multiple endocrine neoplasia. This will help the market players to develop more effective drugs in the future.
In addition to this, rapid expansion of healthcare infrastructures such as hospitals and specialty clinics will further accelerate the growth of multiple endocrine neoplasia market during the forecast period.
Despite its strong stance, there are various challenges that multiple endocrine neoplasia market is likely to face during the forecast period. Some of these factors are the high cost of treatment, lack of awareness among developing and underdeveloped regions, and various side effects associated with MEN drugs.
Patients who consume drugs like dopamine agonist, bromocriptine and cabergoline for relieving symptoms of multiple endocrine neoplasia disorders often face side effects such as postural hypotension, fatigue, nervousness, vision abnormalities, dizziness etc. This is becoming one of the major impediments for the growth of multiple endocrine neoplasia market.
Spurred by increasing drug development activities, presence of well-established healthcare infrastructure and large base of leading market players, North America will continue to dominate the global multiple endocrine neoplasia market during the forecast period.
Countries such as the United States are emerging as leading manufacturers of innovative drugs for treating rare disorders. These countries spend billions of dollars in medical research activities annually. This will continue to spur the growth of multiple endocrine neoplasia market across the region.
The United States is home to some of the leading pharmaceutical and biotechnological companies in the world. These companies are conducting various researches for developing effective treatments for rare diseases like MEN disorders.
According to Future Market Insights, Europe is expected to emerge as the second most lucrative market for multiple endocrine neoplasia during the forecast period, owing to the heavy presence of biotechnological giants, increasing investments in medical research activities and higher patient pool in countries like the United Kingdom and Germany.
During the last few years, there has been significant rise in the number of multiple endocrine neoplasia cases across the Europe. People are using various treatments options including drugs and surgeries to ease the symptoms and lead a quality life.
Moreover, various initiatives are being launched to educate people about rare diseases like multiple endocrine neoplasia, their diagnosis and treatment. This will continue to act as a catalyst for the growth of multiple endocrine neoplasia across the Europe.
Some of the key participants present in the global multiple endocrine neoplasia market include West Coast Pharmaceuticals, Unicure India Pvt. Ltd., Solvay Pharma India Pvt. Ltd., Sun Pharmaceuticals Industries Ltd., Macleods Pharmaceuticals Ltd., and Chemech Laboratories Ltd.
These key market players are constantly investing in research and development activities for introducing novel drugs that can effectively relieve the symptoms without adverse side effects. Besides this, they are adopting various growth strategies such as partnerships, acquisitions, collaboration and new product launches and approvals to expand their global presence.
| Report Attribute | Details |
| Growth Rate | CAGR of 6.0% from 2022 t 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Customization | Available Upon Request |
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As per FMI, the global multiple endocrine neoplasia market is projected to expand at a CAGR of around 6% between 2022 and 2032.
North America is forecast to remain the most lucrative market for multiple endocrine neoplasia market during the forecast period.
West Coast Pharmaceuticals, Unicure India Pvt. Ltd., Solvay Pharma India Pvt. Ltd., Sun Pharmaceuticals Industries Ltd. are some prominent multiple endocrine neoplasia manufacturers
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Multiple Endocrine Neoplasia Market
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