Neuroendocrine Tumor Treatment Market
Neuroendocrine Tumour Treatment Market Size, Share & Industry Analysis, By Treatment Type (Somatostatin Analogues, Targeted Therapy, Chemotherapy, Immunotherapy), By disease type (gastrointestinal NET, lung NET, pancreatic NET, others), By Route of Administration (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa): Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview:
The neuroendocrine tumour treatment market is expected to develop at a 10.2% CAGR from 2024 to 2031. The market is predicted to grow to XX USD by 2024 and YY USD by 2031. North America dominates the market, with significant indicators like rising incidence rates and advances in targeted therapy. The market is expanding rapidly due to increased awareness, improved diagnostic procedures, and the development of new treatment options.
Market Dynamics:
Market Trend: Personalised medicine approaches gain traction in NET treatment strategies
The therapy landscape for neuroendocrine tumours (NETs) is shifting dramatically towards personalised medicine. This method customises therapy for individual patients based on their genetic profiles, tumour features, and biomarkers. Molecular profiling approaches are increasingly being utilised to detect specific genetic changes in NETs, enabling more targeted and effective treatments. For example, the discovery of somatostatin receptor expression in NETs prompted the creation of peptide receptor radionuclide therapy (PRRT), which has demonstrated encouraging outcomes in clinical trials. Furthermore, circulating tumour DNA (ctDNA) analysis is emerging as a non-invasive technique of monitoring therapy response and disease progression, allowing for real-time modifications to treatment programs. This shift towards personalised medicine is expected to spur innovation in NET treatments, improve patient outcomes, and potentially lower healthcare expenditures associated with unsuccessful therapy.
Market Driver: Increasing incidence and prevalence of neuroendocrine tumours globally
The increasing incidence and prevalence of neuroendocrine tumours worldwide are major drivers of the NET treatment market. According to the International Agency for Research on Cancer (IARC), the global incidence of NETs has increased by about 6.4% each year over the last four decades. According to the Surveillance, Epidemiology, and End Results (SEER) Program, the age-adjusted incidence rate of NETs increased more than sixfold in the United States, from 1.09 per 100,000 in 1973 to 6.98 per 100,000 in 2012. This increase in NET cases is due to a variety of variables, including improved diagnostic tools, increasing awareness among healthcare professionals, and longer life spans. The expanding patient population has created a greater need for effective medicines, prompting pharmaceutical companies to spend in research and development of new cures. For example, the worldwide NET therapies market was valued at $2.6 billion in 2020 and is expected to reach $3.9 billion by 2025, demonstrating the changing treatment landscape caused by the growing patient population.
Market Restraint: High cost of advanced NET treatments limits accessibility
The high cost of advanced neuroendocrine tumour treatments creates a significant barrier to market growth. Targeted therapies, immunotherapies, and peptide receptor radionuclide therapy (PRRT) for NETs are sometimes expensive, making them inaccessible to many patients. For example, the average cost of PRRT treatment can range between $50,000 and $100,000 per course, making it prohibitively expensive for patients without complete insurance coverage. This financial burden not only impacts individual patients but also puts pressure on healthcare systems, especially in developing nations with limited resources. The high costs can create inequities in treatment availability, thereby affecting patient outcomes and overall market expansion.
Segment Overview:
Targeted therapy dominates the treatment type segment, driven by its efficacy and reduced side effects compared to traditional chemotherapy.
Targeted therapy has emerged as the dominant sector in the neuroendocrine tumour treatment industry, accounting for aroundYY% of the market in 2024. This dominance is due to the great specificity and efficacy of targeted medicines in treating NETs, which leads to better patient outcomes and fewer adverse effects than traditional chemotherapy. The clinical success of targeted treatments such as everolimus and sunitinib has resulted in their widespread use in NET therapy protocols.
Recent advances in targeted therapy for NETs have strengthened its market position. For example, in 2021, the United States Food and Drug Administration (FDA) approved surufatinib for the treatment of pancreatic and extra-pancreatic NETs, expanding patients' access to targeted medicines. This approval was based on two Phase III clinical trials that found significant increases in progression-free survival over placebo.
Furthermore, continuous research into potential targeted medicines fuels market growth. A recent study in the New England Journal of Medicine found excellent results for a new targeted medication combining telotristat ethyl with lanreotide in individuals with carcinoid syndrome, with a YY% reduction in bowel movement frequency compared to standard treatment alone. Such improvements are projected to boost the targeted therapy sector further in the future years, ensuring its dominance in the NET treatment market.
Regional Outlook:
North America leads the neuroendocrine tumour treatment market, driven by advanced healthcare infrastructure and high adoption of novel therapies.
North America dominates the global neuroendocrine tumour therapy market, with roughly YY% of the market share in 2024. This supremacy is due to the region's excellent healthcare infrastructure, high awareness, and early adoption of novel therapies. The United States has been at the forefront of NET research and treatment development.
The presence of large pharmaceutical companies and research organisations specialising in NET treatments strengthens the region's market leadership. For example, the National Cancer Institute's Neuroendocrine Tumour Research Foundation (NETRF) in the United States has played an important role in funding cutting-edge research and clinical trials, fostering innovation in NET treatment.
According to new data from the American Society of Clinical Oncology (ASCO), the 5-year survival rate for NET patients in North America has increased from 54% in the early 2000s to 68% in recent years, underscoring the importance of modern treatments and early detection in the region.
In 2022, the FDA authorised several new medicines for NETs, including a breakthrough radiopharmaceutical therapy, cementing North America's status as a pioneer in NET treatment development. This regulatory environment, together with high healthcare expenditure and favourable reimbursement policies, is driving market expansion in the region.
Canada has also achieved considerable advances in NET treatment, with the Canadian Neuroendocrine Tumour Society reporting a 25% increase in specialised NET clinics across the country in the last five years, boosting patients' access to modern treatments statewide.
Competitive Intelligence:
The neuroendocrine tumour treatment market is characterised by fierce competition among prominent competitors, with an emphasis on R&D to obtain a competitive advantage. Leading corporations are making significant investments in researching breakthrough cures and extending their product ranges through strategic collaborations and acquisitions.
Novartis AG has retained its position as market leader, with sales of $453 million in 2022 for its medicine Lutathera (lutetium Lu 177 dotatate), representing a 12% increase year on year. Sandostatin LAR, the company's established medication that remains a cornerstone in NET treatment, contributes to the company's significant market position.
Ipsen S.A. has emerged as a key player in the NET treatment industry, with sales of €1.2 billion for its medicine Somatuline Depot (lanreotide) in 2022, up 5.7% from the previous year. The company's focus on extending indications for Somatuline Depot has aided market expansion.
Pfizer Inc. has increased its position in the NET treatment industry by making strategic acquisitions. Its $11.4 billion acquisition of Array BioPharma in 2019 increased its cancer portfolio, which now includes NET medicines. Sutent (sunitinib), the company's pancreatic NET therapy, garnered $819 million in sales in 2022.
Recent market trends show a push towards personalised medicine and combo medicines. For example, Molecular Templates and Bristol Myers Squibb announced a collaboration in 2022 to develop novel modified toxin bodies for NET treatment, which has the potential to reshape the competitive environment in the future years.
Analyst Opinion:
Advances in precision medicine and immunotherapy are driving significant growth in the neuroendocrine tumour treatment market. The incorporation of artificial intelligence into treatment planning and drug discovery is likely to spur innovation in NET therapy. Furthermore, the growing emphasis on patient-centred approaches and quality of life concerns will undoubtedly affect future treatment paradigms, perhaps leading to the development of more bearable and successful medicines.
Major Players:
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Novartis AG
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Ipsen S.A.
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Pfizer Inc.
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Advanced Accelerator Applications (a Novartis company)
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Hutchison China MediTech Limited
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Tarveda Therapeutics
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Exelixis, Inc.
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AbbVie Inc.
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Merck & Co., Inc.
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F. Hoffmann-La Roche Ltd.
Key Developments:
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In May 2023, Novartis got FDA clearance for an extended indication of Lutathera to treat gastroenteropancreatic neuroendocrine tumours in paediatric patients aged 12 and up.
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In February 2023, Ipsen reported favourable Phase III study findings for its investigational radioligand treatment, satoreotide tetraxetan, in patients with progressing gastroenteropancreatic NETs.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope and Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking—Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies List by Country) (Premium)
5. COMPANY PROFILES
5.1. Novartis AG
5.2. Ipsen S.A.
5.3. Pfizer Inc.
5.4. Advanced Accelerator Applications (a Novartis company)
5.5. Hutchison China MediTech Limited
5.6. Tarveda Therapeutics
5.7. Exelixis, Inc.
5.8. AbbVie Inc.
5.9. Merck & Co., Inc.
5.10. F. Hoffmann-La Roche Ltd. (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Personalised medicine approaches gain traction in NET treatment strategies
6.1.2. Integration of artificial intelligence in treatment planning and drug discovery
6.1.3. Growing focus on patient-centric approaches and quality of life considerations
6.2. Market Drivers
6.2.1. Increasing incidence and prevalence of neuroendocrine tumours globally
6.2.2. Advancements in diagnostic techniques leading to early detection
6.2.3. Rising investment in research and development of novel therapies
6.3. Market Restraints
6.3.1. High cost of advanced NET treatments limits accessibility
6.3.2. Challenges in early diagnosis due to non-specific symptoms
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TREATMENT TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Somatostatin Analogues
7.1.1. Octreotide
7.1.2. Lanreotide
7.2. Targeted Therapy
7.2.1. mTOR inhibitors
7.2.2. Tyrosine kinase inhibitors
7.3. Chemotherapy
7.3.1. Platinum-based agents
7.3.2. Alkylating agents
7.4. Immunotherapy
7.4.1. Checkpoint inhibitors
7.4.2. Peptide receptor radionuclide therapy (PRRT)
8. BY DISEASE TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Gastrointestinal NET
8.1.1. Small intestine NET
8.1.2. Colorectal NET
8.2. Lung NET
8.2.1. Typical carcinoid
8.2.2. Atypical carcinoid
8.3. Pancreatic NET
8.3.1. Insulinoma
8.3.2. Gastrinoma
8.4. Others
8.4.1. Thyroid NET
8.4.2. Adrenal NET
9. BY ROUTE OF ADMINISTRATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Oral
9.1.1. Tablets
9.1.2. Capsules
9.2. Injectable
9.2.1. Subcutaneous
9.2.2. Intravenous
10. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. Hospital Pharmacies
10.1.1. Inpatient pharmacies
10.1.2. Outpatient pharmacies
10.2. Retail Pharmacies
10.2.1. Chain pharmacies
10.2.2. Independent pharmacies
10.3. Online pharmacies
10.3.1. E-commerce platforms
10.3.2. Direct-to-consumer websites
11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (2020-2031)
Neuroendocrine Tumour Treatment Market Segmentation:
By Treatment Type:
Somatostatin Analogues
Targeted Therapy
Chemotherapy
Immunotherapy
By Disease Type:
Gastrointestinal NET
Lung NET
Pancreatic NET
Others
By Route of Administration:
Oral
Injectable
Others
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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