Carcinoid Syndrome Management Market Players to Reset their Production Strategies Post 2020 in an Effort to Compensate for Heavy Loss Incurred Due to COVID-19 Outbreak
VALLEY COTTAGE, N.Y. – Carcinoid syndrome comprises of signs and symptoms such as 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 developed secondary to carcinoid tumor. The term ‘carcinoid crisis’ is used when all the symptoms of carcinoid syndrome show at a time. Carcinoid tumors arise out of neuroendocrine cells which are present all over the human body and most commonly occur at stomach, small intestine, colon, appendix or lungs and rarely in pancreas, testicle and ovaries. However, carcinoid syndrome may also arise due to cause other than carcinoid tumor. Patient has to seek symptomatic treatment for carcinoid syndrome and there is no cure for the symptoms of carcinoid tumor. If carcinoid tumor is not detected, carcinoid syndrome can be undiagnosed as its symptoms resemble to those of asthma, irritable bowel disease and menopause. However, patient often receives delayed treatment for carcinoid syndrome as tumors do not show significant symptoms until they are not confined to small bowel or other site of tumor origin. The management of carcinoid syndrome often requires palliative and supportive care. Management of carcinoid syndrome involves drug therapy or surgical removal of carcinoid tumor. Some of the commercially available chemotherapeutic agents for management of carcinoid syndrome include Sandostatin (Novartis AG), Somatuline Depot (Ipsen Biopharmaceuticals, Inc.) etc.
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Carcinoid Syndrome Management Market: Drivers and Restraints
The primary factor driving the growth of global carcinoid syndrome market is incidence of carcinoid tumor. As per National Institute of Health statistics, worldwide incidence of carcinoid tumor is 2 per 100,000 person with high incidence of GI carcinoid tumors. Every year over 8,000 patients in the U.S are diagnosed with carcinoid tumor in GI tract. Other factors influencing the global carcinoid syndrome management market include increasing incidence of hormonal disorders, growing smoking habits, levels of carcinogen in highly developed countries etc. The only factor restraining the growth of global carcinoid syndrome management market is no availability of drugs approved to manage carcinoid syndrome.
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Carcinoid Syndrome Management Market: Segmentation
Tentatively, the global carcinoid syndrome management market has been segmented on the basis of treatment type, distribution channel, and geography.
Based on Treatment type, the global carcinoid syndrome management market is divided into following:
- Biological Therapy
- Interferone alfa-2-a
- Hepatic Artery Embolization Agents
Based on distribution channel, the global carcinoid syndrome management market is segmented as below:
- Hospital pharmacy
- Retail Pharmacy
- Prescription Drug Stores
Carcinoid Syndrome Management Market: Overview
The global market for carcinoid syndrome management is highly consolidated and very few number of players constitute the entire market. Chemotherapy treatment type segment is expected to dominate the global market for carcinoid syndrome management over the forecast period as chemotherapy is used as a first line treatment. Newly introduced hepatic artery embolization agents are expected to gain the significant share in the global market over the period of 2017–2027. The market is expected to grow at an average CAGR due to increasing awareness towards the symptoms of carcinoid tumor among the general population.
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Carcinoid Syndrome Management Market: Regional Outlook
Geographically, carcinoid syndrome management market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is expected to be the leader in global carcinoid syndrome management market owing to increasing caseload of carcinoid tumor in the U.S. The market in Asia Pacific and Japan is expected to grow at significant CAGR due to availability of generic formulations of innovator drugs in these regions. Europe is expected to take second largest share in the global carcinoid syndrome management market.
Carcinoid Syndrome Management Market: Key Players
Some of the major players in the global carcinoid syndrome management market are Novartis International AG (Sandoz), Pharmascience Inc., Omega Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Mylan N.V., Ipsen Biopharmaceuticals, Inc., Sirtex Medical Limited, BTG International Ltd. among others. Companies that provide generic chemotherapeutic agents include Wockhardt Ltd., Sun Pharmaceutical Industries Limited, Sagent Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd. etc.
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