The latest market report published by Acute Market Reports “Neuroendocrine Tumor Treatment Market – Growth, Future Prospects, Competitive Analysis, 2019 – 2029,” the global neuroendocrine tumor treatment market was valued at US$ 1.2 billion in 2019, and is expected to expand at a CAGR of 6 % from 2021 to 2029.
Browse the full report Neuroendocrine Tumor Treatment Market – Growth, Future Prospects, Competitive Analysis, 2021 – 2029 report at https://www.acutemarketreports.com/report/neuroendocrine-tumor-treatment-market
Neuroendocrine tumors could be benign or malignant and symptomatic or asymptomatic. The treatment regimen depends on the symptoms, complications and progression of the disease. The primary therapy option for NET is surgery. However, as major amount of NET cases are asymptomatic so are diagnosed when the disease is in metastatic stage, and therefore, surgery is not an option. Targeted drug therapy for NET included molecules such as Everolimus and Sunitinib. The targeted therapies are in greater demand as they are efficient in impeding the growth of cancer by targeting the specified molecules that are involved in the growth of cancer. The key advantage of targeted drug therapies is lesser side effects in comparison to chemotherapy. However, some patients are immune to radiation therapy and surgeries, therefore Somatostatin analogues such as Lu-Dotatate and Octreotide remain as an alternative therapy in this case.
The impact of covid 19 has been really significant impact on healthcare segment. The pandemic delayed diagnosis and non emergency and elective surgeries, this led to increasing que of patients waiting to avail healthcare solution.
Increasing investment and emerging imaging technologies has been the largest driver. Additionally, in development economies such as North America, the pipeline drugs for NET are promising. Apart from research foundations, governments across several countries have been active in cancer research and funding. For instance in January 2021 The Neuroendocrine Tumor Research Foundation (NETRF) awarded $2.62 million in grants to advanced research focusing on novel treatments for neuroendocrine tumors. In the past 15 years NETRF has alone invested $30 million on research. In Asia Pacific emerging healthcare infrastructure with increasing investment in healthcare institutes, diagnostic centers, R&D centers, emerging supportive regulatory systems are the key factors that are boosting the market for NET treatments.
The key market players in neuroendocrine tumor treatment market consists of market leaders such as Novartis AG, Advanced Accelerator Applications, Ispen, Dauntless Pharmaceuticals, Inc., Exelixis, Inc., Hutchinson Medipharma Limited, Progenics Pharmaceuticals, Inc. and Tarveda Therapeutics.
Key Market Movements:
- Technological advances in imaging techniques to accurately diagnose asymptomatic neuroendocrine tumors will drive the market
- Promising pipeline that included molecularly targeted drug therapy and somatostatin analogues is expected to influence the growth rate during the forecast period.
- Key drivers include supportive regulatory system, increasing research funds and well developed healthcare infrastructure.
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