Neuroendocrine Tumours Therapeutics Market
Neuroendocrine tumours (NET) are the abnormal growths which begin in neuroendocrine cells. Neuroendocrine which are similar to the nerve cells and hormones producing cells. Neuroendocrine tumours are rare and can occur anywhere in the body such as small intestine, lungs, rectum, appendix, and pancreas. Neuroendocrine tumours can be noncancerous (benign) or cancerous (malignant). NETs will arises from several neuroendocrine cells whose normal functions are to serve at neuroendocrine interface. Neuroendocrine cells will present throughout the body where hormones are produced but not only in the endocrine glands.
Neuroendocrine tumours therapeutics market expected to grow owing to increase in initiatives taken by various international organizations like American Association for Cancer Research (AACR) and World Health Organization to treat neuroendocrine tumours are expected to drive the growth of the neuroendocrine tumours treatment market. AACR provided $250,000 fund for the prevention of neuro endocrine tumours. Rise in health care expenditure, increase in prevalence rate of neuroendocrine tumours in developing regions is anticipated to drive global neuroendocrine tumours market. Though the market is expected to witness healthy growth, lack of skilled healthcare professional and lower adoption of advanced treatment technologies in the developing economies are key restraints for neuroendocrine tumours treatment market.
The global neuroendocrine tumours therapeutics market is categorized as below-
- Drug class
- Somatostatin Analogues
- Fluorouracil (5-FU)
- Doxorubicin (Adriamycin) or liposomal doxorubicin (Doxil)
- Temozolomide (Temodar)
- Capecitabine (Xeloda)
- Dacarbazine (DTIC)
- Oxaliplatin (Eloxatin)
- Targeted Therapeutics
- Lung NET
- Others NET
- Gastrointestinal NET
- Pancreatic NET
Hospital, retail pharmacies and others.
And lastly, on the basis of the geographical regions, the global neuroendocrine tumours therapeutics market is divided into five key regions- North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. North America is dominant market for product launch and research and development activities, entrenched infrastructure and favorable reimbursement scenario are the major factors accountable for the strengthening of North America’s neuroendocrine tumours therapeutics market. Europe is the second largest market for neuroendocrine tumours therapeutics, followed by Asia-Pacific. Increased cases of neuroendocrine cancer in Asia-Pacific along with the refining economic scenario is expected to play an important role in driving the neuroendocrine (NET) market growth in this region. Some of the key players operating in the global neuroendocrine tumours therapeutics market include Pfizer Inc., (U.S), Eli Lilly & Company (U.S.), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd.(Switzerland), Ipsen (France), Amgen, Inc. (U.S.), Teva Pharmaceuticals, Ltd. (Israel), and Bristol-Myers Squibb (U.S.). In 2016, Novartis received the USFDA approval for its Afinitor® (Everolimus) tablets for the treatment of adult patients with progressive, well-differentiated, non-functional neuroendocrine tumours of gastrointestinal or lung origin.
The neuroendocrine tumor treatment market is expected to gain steady traction in the foreseeable future as there are many novel drugs are in pipeline. Increase in NET incidence and prevalence globally. Moreover, rise in survival rate of neuroendocrine tumours by treating with various medications are expected to have a positive impact on neuroendocrine tumours treatment market. According to the study published in the JAMA Oncology Journal (2017), the survival rate for all neuroendocrine tumor treatment have improved, especially for distant-stage gastrointestinal neuroendocrine tumour treatment and pancreatic neuroendocrine tumour treatment.