Press release
Neuroendocrine Carcinoma Market Size Forecasted To Achieve 2.32 Billion By 2029 With Steady Growth
Neuroendocrine Carcinoma
What Is the Neuroendocrine Carcinoma Market Size and Projected Growth Rate?
In recent times, the market size of neuroendocrine carcinoma has experienced robust growth. It is projected to expand from $1.63 billion in 2024 to $1.76 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.7%. The impressive growth during the historical period is the result of various factors including the burgeoning imaging sector, a surge in the occurrence of neuroendocrine tumors, increased investments, heightened governmental initiatives, and a growing demand for neuroendocrine tumor treatments.
In the coming years, the neuroendocrine carcinoma market is projected to experience substantial growth, with an estimated value of $2.33 billion by 2029 and a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth during the forecast period include an increase in cancer incidence, an acceleration in product approvals, the adoption of advanced diagnostic imaging techniques, the evolution of targeted therapies, and an increase in available diagnosis and treatment options. Key trends for the forecast period include advancements in diagnostic technologies, improved imaging technologies, targeted treatment strategies, progress in neuroendocrine tumor management, and developments in targeted therapies and immunotherapies.
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What Are the Major Segments in the Neuroendocrine Carcinoma Market?
The neuroendocrine carcinoma market covered in this report is segmented -
1) By Type: Gastroenteropancreatic Neuroendocrine Tumors, Carcinoid Tumors, Pheochromocytoma, Medullary Thyroid Carcinoma
2) By Diagnostic Tools: Imaging, Biopsy, Serology
3) By Treatment: Chemotherapy, Radiotherapy, Surgery, Other Treatments
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
5) By End-User: Hospitals, Clinics, Oncology Centers, Ambulatory Surgery Centers
Subsegments:
1) By Gastroenteropancreatic Neuroendocrine Tumors (GEP-NETs): Pancreatic Neuroendocrine Tumors (pNETs), Small Intestinal Neuroendocrine Tumors, Gastric Neuroendocrine Tumors, Colorectal Neuroendocrine Tumors
2) By Carcinoid Tumors: Pulmonary Carcinoid Tumors, Gastrointestinal Carcinoid Tumors
3) By Pheochromocytoma: Adrenal Pheochromocytoma, Extra-Adrenal Paraganglioma
4) By Medullary Thyroid Carcinoma: Sporadic Medullary Thyroid Carcinoma, Hereditary Medullary Thyroid Carcinoma (MEN2-Associated)
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What Are The Driving Neuroendocrine Carcinoma Market Evolution?
Advancements in targeted therapies are anticipated to boost the expansion of the neuroendocrine carcinoma market. These therapies are meticulously crafted to specifically interfere with the molecular actions or genetic alterations causing diseases, notably cancer. The rising demand for targeted therapies is attributed to their precision in treating distinct genetic mutations, progress in personalized medicine, and improved patient results with fewer side effects. Neuroendocrine carcinoma presents opportunities for the creation of targeted therapies tailored to the tumor's genetic and biochemical attributes, thereby augmenting the accuracy and efficiency of the treatment. For example, as per the report issued by the American Society of Gene & Cell Therapy (ASGCT), a professional body headquartered in the United States, and Citeline, a U.S based supplier of drugs and medical devices, as of Q1's end in 2023, 247 gene therapies were in Phase II. However, this figure inflated by 5% and touched 260 by Q2's end. Consequently, the augmentation of targeted therapies is fueling the expansion of the neuroendocrine carcinoma market.
Which Firms Dominate The Neuroendocrine Carcinoma Market Segments?
Major companies operating in the neuroendocrine carcinoma market are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Novartis AG, Amgen Inc., Boehringer Ingelheim GmbH, Exelixis Inc., Lantheus Holdings Inc., HUTCHMED Limited, Dana-Farber Cancer Institute Inc., Abdera Therapeutics Inc., Orano Med S.A, Eckert & Ziegler Radiopharma GmbH, Callisto Pharmaceuticals Inc., RadioMedix Inc., Clarity Pharmaceuticals Limited, Delcath Systems Inc., Provectus Biopharmaceuticals Inc.
What Trends Are Driving Growth in The Neuroendocrine Carcinoma Market?
Prominent businesses operating in the neuroendocrine carcinoma market are concentrating on the creation of advanced treatments, such as targeted radiopharmaceutical therapy, with the goal of enhancing the accuracy of treatments and patient results. This therapy method utilizes radioactive molecules specifically designed to target and administer radiation to cancer cells, minimizing the damage to healthy tissues. Notably, in September 2024, Canadian biotech firm Abdera Therapeutics Inc., was granted an FDA-approved orphan drug designation for ABD-147, a treatment designed for neuroendocrine carcinoma. The treatment targets tumors that express the DLL3 protein, which is often found in aggressive neuroendocrine cancers like small cell lung cancer (SCLC) and large cell neuroendocrine carcinoma (LCNEC). This designation provides significant benefits for development, such as tax credits for clinical trials and the possibility of market exclusivity, which establishes ABD-147 as a promising therapy solution in this specialized field of oncology.
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Which Is The Largest Region In The Neuroendocrine Carcinoma Market?
North America was the largest region in the neuroendocrine carcinoma market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuroendocrine carcinoma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Neuroendocrine Carcinoma Market?
2. What is the CAGR expected in the Neuroendocrine Carcinoma Market?
3. What Are the Key Innovations Transforming the Neuroendocrine Carcinoma Industry?
4. Which Region Is Leading the Neuroendocrine Carcinoma Market?
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Introduction
Neuroendocrine carcinoma (NEC) is a rare and aggressive form of cancer that arises from neuroendocrine cells, which are found throughout the body and are responsible for producing hormones. These tumors can occur in various organs, including the lungs, pancreas, liver, and gastrointestinal tract. Due to its often vague and non-specific symptoms, neuroendocrine carcinoma is frequently diagnosed at an advanced stage, making it challenging to treat effectively.
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Neuroendocrine Cancer Market Segmentation Analysis
Total Neuroendocrine Cancer Studies: 2499
By Drug Type
Everolimus
Sunitinib Malate
Lanreotide
Octreotide
Others
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