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Carcinoid Tumor Market 2018 – Top Players are Novartis AG (Europe), Amgen Inc. (U.S.), Boehringer Ingelheim GmbH (Europe) and more.
Market Research Future
Carcinoid Tumor Market is expected to grow at an approximate of CAGR of 10.5% during forecast period. Carcinoid tumor is a type of the neuroendocrine tumor. A neuroendocrine tumor develops in the body’s neuroendocrine system, which is made up of cells that are a combination of hormone-producing endocrine cells and nerve cells. The most common site of carcinoid tumors is GI (gastrointestinal) tract and lungs.
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The other sites for the development of the carcinoid tumors is inclusive of the pancreas, testicles, and ovaries. According to the American Society of Clinical Oncology (ASCO) in 2016, approximately 8,000 adults in the US were diagnosed with a carcinoid tumor in their GI tract. Moreover, it was also estimated that each year approximately 4,000 adults in the United States diagnose with the carcinoid tumor in their lung. Thus, the prevalence of the carcinoid tumor is expected to drive the market. In 2016, American Society of Clinical Oncology (ASCO) published a report stating that the people who were diagnosed with carcinoid tumor were in their early 60s. Additionally, according to the report of WHO published in 2015, the geriatric population is expected to double and reach 2.1 billion by 2050. Thus, the growing geriatric population along with rising healthcare expenditure is set to boost the market growth during the forecast period. However, lack of awareness, treatment cost and related side effects may restrain the market growth during the forecast period.
America dominates the global carcinoid tumor market owing to a well-developed healthcare sector and huge patient population. Apart from this, increasing healthcare expenditure and presence of developed economies within the region are adding fuel to the growth of the market in America.
Europe is the second leading region in the global carcinoid tumor market, which is followed by Asia Pacific. Availability of funds for research, huge patient population and government support for research & development are projected to drive the market. According to the National Health Service in 2015, each year about 1,200 people diagnose with carcinoid tumor in the UK.
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Market Highlights:
Carcinoid tumor is a type of the neuroendocrine tumor. The most common site of carcinoid tumors is the GI (gastrointestinal) tract and the lungs. However, it can also be developed in pancreas, testicles, and ovaries. The increasing prevalence of the carcinoid tumor is expected to drive the market growth. According to the American Society of Clinical Oncology (ASCO) in 2016, approximately 8,000 adults in the US were diagnosed with a carcinoid tumor in their GI tract. Moreover, it was also estimated that each year approximately 4,000 adults in the US are diagnosed with a carcinoid tumor in their lung. Moreover, growing geriatric population along with rising healthcare expenditure is likely to boost the market growth during the forecast period. However, lack of awareness, high treatment cost and related side effects may hamper the market growth during the forecast period.
Key Players:
Some of the key players in the global carcinoid tumor market are Novartis AG (Europe), Amgen Inc. (U.S.), Boehringer Ingelheim GmbH (Europe), AVEO Pharmaceuticals, Inc. (U.S.), Chiasma, Inc. (U.S.), Aegis Therapeutics, LLC (U.S.), CRINETICS PHARMACEUTICALS (U.S.), Delcath Systems Inc. (U.S.), Exelixis, Inc. (U.S.), and others.
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