Tumor that arises from specialized body
cells, called neuroendocrine cells, is known as neuroendocrine tumor.
Neuroendocrine tumor arises from cells that produce hormones; thus, it
produces and releases hormones into the blood in response to signals
received from the nervous system. It can occur anywhere in the body, but
most commonly occurs in pancreas, digestive tract, lungs, rectum, and
appendix. Neuroendocrine tumor can be either benign (non-cancerous) or
malignant (cancerous). Types of neuroendocrine tumors are islet cell
tumors, carcinoid tumors, pheochromocytomas, medullary thyroid cancer,
neuroendocrine carcinoma, and others. Neuroendocrine tumors are a rare
kind of tumor. It is estimated that more than 12,000 people are affected
by neuroendocrine tumors each year in the U.S. Growing prevalence of
neuroendocrine tumors is expected to drive the growth of the market
during forecast period. In addition to it, significant increase in
funding by various international organizations, such as, the World
Health Organization and the American Cancer Academy is projected to
boost the neuroendocrine tumors market in the near future. Drugs used
for the treatment of rare diseases are known as orphan drugs. Rare
diseases affect very small portion of population. Therefore, unlike
non-orphan drugs, orphan drugs do not gurantee return on investment.
Furthermore, compared to non-orphan drugs, the cost of development of
orphan drugs is significantly higher, which is expected to hamper the
growth of the neuroendocrine tumors market during the forecast period.
The global neuroendocrine tumors market
can be segmented based on type, treatment, and geography. In terms of
type, the market can be divided into merkel cell cancer, neuroendocrine
carcinoma, pheochromocytoma, and others. The neuroendocrine carcinoma
segment is anticipated to hold a significant share of the neuroendocrine
tumors market during the forecast period, as around 60% of
neuroendocrine tumor cases pertains to neuroendocrine carcinoma. Based
on treatment, the global neuroendocrine tumors market can be calssified
into surgery, radiation therapy, and chemotherapy. Surgery is the main
treatment prescribed for neuroendocrine tumor. Chemotherapy is a
combination of drugs used for the treatment of neuroendocrine tumors.
Streptozocin and 5-fluorouracil are examples of drugs used in the
treatment of neuroendocrine tumor. Several clinical trials are underway
to study new drugs for the treatment of neuroendocrine tumors. Approval
or launch of new drugs is expected to drive the neuroendocrine tumors
market during the forecast period. However, disappointing results of
strong pipeline molecules are expected to restrain the growth of the
market.
Based on geography, the global
neuroendocrine tumors market can be classified into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America dominates the global neuroendocrine tumors market, followed by
Europe. Key drivers of the market in these regions are rising incidence
of diseases, developed health care infrastructure, strong clinical
pipeline, high level of awareness among people, presence of key market
players, and increase in government expenditure. The neuroendocrine
tumors market in Asia Pacific is expected to grow rapidly during the
forecast period due to large patient base, developing health care
infrastructure, and rising government expenditure in health care in the
region. Morover, increasing focus of key players for business expansion
propels the growth of the neuroendocrine tumors market in Asia Pacific.
In Latin America and Middle East & Africa, lack of proper treatment
facilities, low income level, and poor patient education are likely to
hamper the growth of the neuroendocrine tumors market in the next few
years.
Major players operating in the global
neuroendcriens tumors market include F. Hoffmann-La Roche Ltd.,
Bristol-Myers Squibb, Eli Lilly & Company, Novartis AG, Pfizer Ltd.,
Amgen, Inc., Ispen SA, Teva Pharmaceuticals, Ltd., Callisto
Pharmaceuticals Pvt. Ltd., and Biosynthema, Inc.
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