Neuroendocrine Tumor Treatment Market Size, Share & Trends Analysis Report By Site (Small Intestine, Pancreas), By End Use (Hospitals, Clinics), By Product (SSA, Targeted Therapy), And Segment Forecasts, 2018 - 2025

Industry Insights

The global neuroendocrine tumor treatment market size was estimated at USD 1.51 billion in 2017 and is expected to register a CAGR of 10.4% during the forecast period. Increasing cases of neuroendocrine tumors (NETs) are expected to accelerate the demand for treatment options, thereby augmenting the market growth over the forecast period. This is a rapidly advancing field as novel therapies and diagnostic products are being developed.

Some of the ongoing clinical trials include RAD 001 to treat advanced midgut NETs, Lanreotide Autogel for non-functional tumors, and NET-01 chemotherapy for pancreatic tumors.

Ongoing R&D activities in detection techniques, such as Ga labeled radionucleotide therapies and radiofrequency ablation technique, are the major factors driving the demand NET treatment market.

For instance, PSMA Targeted PET Imaging Agent by Progenics Pharmaceuticals, Inc. is under the clinical trial phase and is expected to help treat prostate cancer. Heavy investments in the field by cancer research organizations and governments across the globe is another key factor propelling the NET market growth.

For instance, organizations, such as The Neuroendocrine Tumor Research Foundation (NETRF), invested more than USD 1.5 million in the development of advanced radiation therapy named Peptide Receptor Radionuclide Therapy (PRRT). Besides, growing Patient Assistance Programs (PAPs), government initiatives for cancer awareness, and extensive R&D by pharmaceutical companies are expected to propel the market growth in the next few years.

Product Insights

The Somatostatin Analogs (SSAs) and targeted therapy are widely used for the treatment of neuroendocrine carcinoma as they control cancer growth, symptoms, and target biomarkers. SSAs product segment accounted for the largest revenue share as of 2017 owing to the safe treatment procedure offered by SSAs.

SSAs are generally used to treat patients who are resistant to radiation therapy and surgery. Many SSAs are currently under clinical trial phase and waiting for approval. Some of these are PEN-221 by Tarveda Therapeutics and DP1038 by Dauntless Pharmaceuticals.

Targeted therapy consists of drugs, such as Sunitinib and Everolimus. Due to fewer side effects associated with these drugs they are used as the first line of therapy for neuroendocrine carcinoma. The other products include chemotherapy, radiation therapy, surgery, and tyrosine kinase inhibitors.

Site Insights

The small intestine segment accounted for the largest revenue share of the global neuroendocrine tumor treatment market in 2017 as the GI tract is more prone to developing NETs. According to the statistics published in the investor presentation of Novartis in 2015, GI comprises 61% of the total NETs and among them, tumor in the small intestine was the most common one.

Moreover, statistics published by the American Society of Clinical Oncology (ASCO), in 2016, around 8,000 adults in the U.S. have diagnosed with GI tract-carcinid tumors. This increasing prevalence of carcinoid tumors in the GI tract is expected to drive the segment growth over the forecast period.

The pancreas segment is expected to have steady growth during the next few years. Increasing R&D investments for the development of novel therapies for pancreatic NETs are expected to boost the segment expansion. For example, SUNITINIB by Pfizer Inc. is currently under phase III clinical trial and indicated to be used for pancreatic NETs.

End-use Insights

The hospital was the dominant end-use segment, in terms of revenue share, in 2017as a large number of procedures for diagnosis are performed in these facilities. The presence of developed technologies and the availability of multiple options for NET diagnosis are expected to further augment the segment growth.

The clinic segment is expected to witness lucrative growth in the coming years due to the availability of skilled surgeons and patient-centric treatment options. The other segment includes cancer research organizations and government institutes and is likely to offer high growth potential for the NET market in the years to come.

Regional Insights

North America accounted for the highest market share in 2017 owing to supportive insurance policies in this region facilitating NET treatment, such as Medicare, Medicaid, and Tricare. Moreover, sophisticated healthcare facilities and high R&D expenditure by pharmaceutical companies and regional government for cancer research are other factors driving the North American market.

Asia Pacific market is anticipated to witness significant growth in the coming years due to the rising incidence of NETs in the region. Increasing investments by the regional governments to tackle the high unmet clinical needs are also likely to help boost market development.

Neuroendocrine Tumor Treatment Market Share Insights

The global market is highly competitive and is led by companies, such as Novartis AG; Boehringer Ingelheim International GmbH; Pfizer, Inc.; and Ipsen Pharma. Several other companies in the market include AVEO Oncology, Hutchison MediPharma Limited, and Progenics Pharmaceuticals.

Most of these companies have undertaken strategies, such as product launch, regional expansion, partnership, and distribution agreements, to strengthen their market position. For instance, in January 2018, Novartis AG announced to purchase all the ordinary shares from its subsidiary group Novartis Groupe France S.A., which includes Advanced Accelerator Applications S.A. (AAA).

In June 2018, Boehringer Ingelheim announced to invest USD 270 million to build new Biologicals Development Center (BDC) specialized for immunology and immune-oncology. The initiatives like these are expected to propel the market growth over the forecast period.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global neuroendocrine tumor treatment market report based on product, site, end-use, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Somatostatin Analogs (SSAs)

  • Targeted Therapy

  • Others

• Site Outlook (Revenue, USD Million, 2014 - 2025)

  • Lungs

  • Pancreas

  • Colon

  • Small Intestine

  • Others

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Latin America

    • Mexico

    • Brazil

  • Middle East & Africa

    • South Africa