Carcinoid Syndrome Management Market Share to Grow Strongly in the Forecast Period Driven by Rising Healthcare Expenditure 2020-2027
Global Carcinoid Syndrome Management Market Information, by organs affected (Small Intestine, Lungs, Rectum, Appendix, Colon, Stomach, Pancreas, Liver and others) by Treatment (Chemotherapy, Biological therapy, and Hepatic Artery Embolization Agents), by End users (Hospital, Clinics, Cancer institute and treatment centers) Forecast to 2027
Novartis International AG (Switzerland), Pharmascience Inc. (Canada), Omega Laboratories Ltd. (Canada), Teva Pharmaceutical Industries Ltd. (Israel), Mylan N.V. (USA), Ipsen Biopharmaceuticals, Inc.(US), Sirtex Medical Limited (Australia) , BTG International Ltd. (UK), Wockhardt Ltd. , and Sun Pharmaceutical Industries Limited (India), and others are some of the prominent players at the forefront of competition in the Global Carcinoid Syndrome Management and are profiled in MRFR Analysis.
Global Carcinoid Syndrome Management - overview
The Global Carcinoid Syndrome Management Market Share is growing with the sound pace. According to a recent study report published by the Market Research Future, the Global Carcinoid Syndrome Management is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2022, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017-2022).
Carcinoid syndrome includes the signs and symptoms of flushing of the face, debilitating diarrhea, asthma caused due to vasoconstriction, intestinal bleeding, fast heartbeat, shortness of breath, sweating, unexplained weight gain etc. which are settled secondary to carcinoid tumor. Palliative and supportive care is often required for the management or treatment of carcinoid syndrome. Drug therapy and surgical removal of carcinoid tumor are the major management procedures for carcinoid syndrome. Increasing incidence of hormonal disorders, and growing smoking habits are the major drivers for the market growth. However, no availability of drugs approved to manage carcinoid syndrome may restrain the market growth during the forecast period.
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Global Carcinoid Syndrome Management - competitive analysis
Characterized by the presence of several well-established and small players, the global market of carcinoid syndrome management appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
In November-2016, Novartis acquired Selexys Pharmaceuticals Corporation, a company specializing in development of therapeutics in certain hematologic and inflammatory disorders. Novartis exercised its right to acquire Selexys following receipt of results of the SUSTAIN study, a Phase II trial evaluating the use of SelG1, an anti-P-selectin antibody, in the reduction of vaso-occlusive pain crises in patients with sickle cell disease (SCD).
In August-2016, Teva Pharmaceutical Industries Ltd. and Allergan plc. Announced that Teva Pharmaceutical Industries Ltd. completed the acquisition of Allergan’s generics business. This strategic acquisition brought together two leading generics businesses with complementary strengths, R&D capabilities, product pipelines and portfolios, geographical footprints, operational networks and cultures.
In January-2017, Ipsen entered into a definitive agreement and acquire global oncology assets from Merrimack Pharmaceuticals, including its key marketed product ONIVYDE for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy, in combination with fluorouracil and leucovorin. Under the terms of the agreement, Ipsen gained exclusive commercialization rights for the current and potential future ONIVYDE indications in the U.S., as well as the current licensing agreements with Shire for commercialization rights ex-U.S. and PharmaEngine for Taiwan.
Global Carcinoid Syndrome Management - regional analysis
The Global Carcinoid Syndrome Management is segmented on the basis of regions, into North America, Europe, Asia-Pacific, and Middle East & Africa. America accounts for the largest market share of the Global Carcinoid Syndrome Management by region in 2016. High per capita healthcare expenditures followed by increasing awareness of the diseases and presence of the developed healthcare sector are the major drivers for the market growth during the forecast period. Followed by the North America, Europe holds the second largest market. Asia pacific is the fastest growing region. However, the Middle East and Africa region holds the least share of the global market, especially due to the presence of the poor economies within the Asia Pacific region. In the Middle East & African region, the Middle East holds the largest market share.
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