Somatostatin Analogs Remain the Preferred Treatment Type
Somatostatin analogs will remain highly preferable for treating neuroendocrine carcinoma over the forecast timeframe, capturing over 3/5 share of total market revenue. Used for the treatment of indications such as vasoactive intestinal peptide, carcinoid tumors, and pituitary adenomas, the prominence of somatostatin analog therapy is expected to spread at a robust pace. Targeted therapies such as mTOR inhibitors and tyrosine kinase inhibitors for cancer treatment are also seeing a notable rise in their adoption, while chemotherapy is experiencing a relatively sluggish adoption rate.
North America - The Epicenter of Market Growth
Surging investments towards advanced healthcare infrastructure as well as favorable reimbursement policies would be the core drivers shaping the neuroendocrine carcinoma treatment market, in both, developed and developing regions. By capturing over one-third revenue share, North America continues to attract huge attention from stakeholders, and the regional market is poised to touch the US$ 1 Bn mark during the latter half of the foreseeable period.
Players in the neuroendocrine carcinoma treatment market are also targeting Western Europe for lucrative returns. However, the neuroendocrine carcinoma treatment market in Asia Pacific (excluding Japan) is expected to reflect opportunistic growth potential in the coming years.
Indulging in Collaborations for Better Clinical Outcomes
In an effort to identify therapies for difficult-to-treat diseases, neuroendocrine carcinoma treatment market players are entering into strategic collaborations with research and academic institutes. These collaborative efforts for initiatives such as Cancer MoonShot 2020 and Precision Medicine Initiative (PMI) offer researchers with the required testing materials for the development of precision drugs to address rare illnesses. Combining technical resources with the vast knowledge base from research centers improves the quality of research and success rate, which is auguring well for market players.
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How Growth will Unfold
As hospitalization of the patient is necessary to monitor the progress of therapy deployed during the treatment of neuroendocrine carcinoma, hospitals continue to be the prominent end user with a revenue share of over 40%. In 2019, the end user category was estimated to generate revenue worth US$ 645 Mn, with the value expected to double by the end of 2029. However, there are strong indications that clinics and oncology centers are likely to offer potential for bigger margins.
FREQUENTLY ASKED QUESTIONS ABOUT NEUROENDOCRINE CARCINOMA TREATMENT MARKET
What drives the global neuroendocrine carcinoma treatment market?
Rising healthcare expenditure, coupled with expanding patient pool of cancer, will boost the global neuroendocrine carcinoma treatment market. The market is also expected to gain from increasing investments towards clinical trials for drug development.
Which end users are expected to contribute maximum revenue share during the forecast period?
Hospitals and clinics accounted for major revenue share, which constitutes nearly 70% of total neuroendocrine carcinoma treatment market revenue. In addition to this, oncology centers are exhibiting fast-paced adoption.
Which region will lead the global neuroendocrine carcinoma treatment market?
North America remains the largest shareholder in the global neuroendocrine carcinoma treatment market. The U.S. has emerged as a dominant region in the neuroendocrine carcinoma treatment market in terms of adoption. However, the market in Asia Pacific excluding Japan (APEJ) is expected to experience higher growth over the coming years.
Who are the major players in the neuroendocrine carcinoma treatment market?
Leading players in the neuroendocrine carcinoma treatment market include:
- AbbVie Inc.
- Advanced Accelerator Applications
- F. Hoffmann-La Roche
Which neuroendocrine carcinoma treatment type is expected to offer significant market growth potential over the next decade?
Used for treating indications such as vasoactive intestinal peptide, carcinoid tumors, and pituitary adenomas, somatostatin analogs are likely to observe relatively greater demand as compared to targeted therapy and chemotherapy, over the period of forecast (2019 to 2029).
NEUROENDOCRINE CARCINOMA TREATMENT MARKET TAXONOMY
The global neuroendocrine carcinoma treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Gastric Neuroendocrine Tumors
- Lung Neuroendocrine Tumors
- Pancreatic Neuroendocrine Tumors
- Appendiceal Neuroendocrine Tumors
- Somatostatin Analogs
- Targeted Therapy
- Oncology Centers
- Ambulatory Surgical Centers
- North America
- Latin America
- Western Europe
- Eastern Europe