The Global NeuroendocrineTumor Treatment Market, by Treatment Type (Somatostatin Analogues (SSAs)(Octreotide, Lanreotide, and Others), Targeted Therapy, Chemotherapy, andOthers), by Indication (Gastrointestinal NET, Lung NET, Pancreatic NET, andOther NET), by End User (Hospitals, Oncology Centers, and Others), and byRegion (North America, Latin America, Europe, Asia Pacific, Middle East, andAfrica), is estimated to be valued at US$ 1,448.1 million in 2019 and isexpected to exhibit a CAGR of 10.6% during the forecast period (2019-2027), ashighlighted in a new report published by Coherent Market Insights.
Several key players in the marketare engaged in conducting clinical trial studies, in order to study the safetyand efficiency of already existing therapies in the treatment of neuroendocrinetumors. For instance, on July 3, 2019, Ipsen initiated the clinical trial tostudy the effectiveness of Lanreotide 120 mg to estimate the progression-freesurvival (PFS) rate in subjects with locally advanced or metastatic pancreaticneuroendocrine tumor (PanNET) in routine clinical practice. Moreover, onNovember 28, 2018, Advanced Accelerator Applications initiated the clinicaltrial to study the long-term safety of LUTATHERA in unresectable or metastatic,well-differentiated, somatostatin receptor positive gastroenteropancreaticneuroendocrine tumor.
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Browse 35 Market Data Tables and32 Figures spread through 175 Pages and in-depth TOC on Global NeuroendocrineTumor Treatment Market, by Treatment Type (Somatostatin Analogues (SSAs) (Octreotide,Lanreotide, and Others), Targeted Therapy, Chemotherapy, and Others), byIndication (Gastrointestinal NET, Lung NET, Pancreatic NET, and Others NET), byEnd User (Hospitals, Oncology Centers, and Others), and by Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa) - GlobalForecast to 2027'
Furthermore, increasinginvestments by the research institutes for research studies focusing on thedevelopment of the novel therapies for the treatment of neuroendocrine tumors(NETs) is expected to drive the market growth. For instance, in February 2019,the Neuroendocrine Tumor Research Foundation (NETRF) announced grant (funding)of US$ 2.5 million to eight new cancer research centers. With this funding,NETRF is expected to expand its clinical development portfolio in order todevelop novel treatment options for treating lung neuroendocrine tumors (NETs).
Currently, there is no standardtreatment for pancreatic neuroendocrine tumor. However, two U.S. FDA approvedtargeted therapy drugs such as Afinitor and Sutent are available in the marketfor the treatment of advanced pancreatic neuroendocrine tumors and arebeneficial for some patients according to the type and severity of theindication.
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Key Takeaways of the GlobalNeuroendocrine Tumor Treatment Market:
The global neuroendocrine tumortreatment market is expected to exhibit a CAGR of 10.6% during the forecastperiod (2019-2027), owing to development and launches of product and genericsin the market. For instance, in December 2019, Par Pharmaceutical (Par), one ofthe operating company of Endo International plc, received the U.S. FDA approvalto launch generic Afinitor (everolimus) 2.5 mg, 5 mg, and 7 mg tablets. Thedrug is indicated for the treatment of gastrointestinal neuroendocrine tumor(NET).
Furthermore, increasingregulatory approvals of neuroendocrine tumor treatment is expected to drive themarket growth over the forecast period. For instance, in November 2019, U.S.Food and Drug Administration (“FDA”) granted the Orphan Drug Designation (ODD)to Surufatinib for the treatment of pancreatic neuroendocrine tumors. The drugis developed by Hutchison China MediTech Limited.
Major players operating in theglobal neuroendocrine tumor treatment market include Pfizer Inc, Novartis AG,Ispen, Advanced Accelerator Applications, Tarveda Therapeutics, ProgenicsPharmaceuticals, Inc., Hutchison Medipharma Limited, Dauntless PharmaceuticalsInc., and Exelixis, Inc.
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