Neuroendocrine Carcinoma Market to be worth USD 2.9 Bn by 2029 | CAGR of 8.0%
The global neuroendocrine carcinoma treatment market was valued US$ 1.7 Bn in 2022, and is expected to exhibit a CAGR of 8% during the forecast period (2022 – 2029).
Prominently driven by collaborative strategies for speedy research of drugs for neuroendocrine carcinoma treatment, the market is set for an impressive growth during the forecast period. Rising number of patients diagnosed with neuroendocrine carcinoma, increasing number of patients seeking treatment, and innovative drugs under clinical trials, along with research grants from government agencies are expected to boost the growth of the neuroendocrine carcinoma treatment market during the forecast period. In June 2019, Progenics Pharmaceuticals presented long-term follow up data from its pivotal phase 2 study of Azdera, which showed overall survival of 73.1% at two years and 44.2% at four years, improving the overall survival rate in patients suffering from neuroendocrine carcinoma.
“Rising number of patients seeking treatment along with collaborative actions by manufacturers to provide novel treatment options, and increasing research grants for drug innovation are anticipated to boost neuroendocrine carcinoma treatment market growth during the forecast period.”
The key players are Pfizer Inc., Novartis AG, Chiasma Inc., Ipsen, Abbvie Inc., Valeant Pharmaceuticals International Inc., Jubilant Life Sciences Ltd., Teva Pharmaceutical Industries Ltd, F. Hoffmann-La Roche Ltd, Advanced Accelerator Applications, Mateon Therapeutics, Inc., Lexicon Pharmaceuticals, Inc., Isotopen Technologien München AGGlobal, Hutchison China MediTech Ltd, Amgen Inc, Celgene Corporation
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Key Takeaways of Neuroendocrine Carcinoma Treatment Market Study
- Owing to large patient pool seeking treatment for gastric neuroendocrine tumors, the segment is expected to dominate the neuroendocrine carcinoma treatment market.
- Somatostatin analog therapy for vasoactive intestinal peptide, carcinoid tumors, pituitary adenomas, and other indications is expected to gain traction over targeted therapy and chemotherapy during the forecast period.
- Hospitals remain prominent end users as compared to clinics, as hospitalization of patients is required to monitor the progress of therapy deployed during the treatment of neuroendocrine carcinoma.
- North America is expected dominate the global neuroendocrine carcinoma treatment market, owing to improved healthcare infrastructure, favorable reimbursement scenario, increasing research grants, and large target patient pool.
Neuroendocrine Carcinoma Drug Manufacturers Focusing on Collaborations to Gain Competitive Advantage
AbbVie Inc., Advanced Accelerator Applications, and F. Hoffmann-La Roche are among the leading manufacturers that operate in the neuroendocrine carcinoma treatment market. In December 2019, AbbVie and Scripps Research announced a collaboration to develop a broad range of new therapeutics in the areas of oncology, immunology, neurology, and fibrosis. This strategic move is expected to cater to the needs of patients by innovating refined novel medicines. Eisai’s Levinima was approved in combination with Novartis’s Afinitor for the treatment of advanced renal cell carcinoma, in May 2016. This collaboration agreement has set the terms, whereby the sales teams from both pharmaceutical companies will promote the availability of this combination regimen to health service providers. In November 2017, VBL Therapeutics and NanoCarrier Co., Ltd. signed an exclusive agreement for VB-111 for the development, commercialization, and supply of ofranergene obadenovec (VB-111) in Japan. In December 2018, Advanced Accelerator Applications entered into an exclusive option and license agreement with FUJIFILM Toyama Chemical Co. to develop and commercialize radiolabeled molecules for oncology indications.
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