High Adoption Rate Of A New Treatment Against Cancer is likely to proliferate the Neuroendocrine Tumor Treatment CAGR: 10%|UnivDatos Market Insights

NOIDA, India, Feb. 3, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Neuroendocrine Tumor Treatment Market was valued at more than USD 1500 million in 2020 and is expected to grow at a CAGR of around 10% from 2022-2028. The analysis has been segmented into Products (Somatostatin Analogs (SSAs), Targeted Therapy, Chemotherapy, and Others); Indication (Lungs, Pancreas, Gastrointestinal, and Others); End-User (Hospitals, Clinics, and Others); and Region/Country.

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The neuroendocrine tumor treatment market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Neuroendocrine Tumor Treatment Market. The neuroendocrine tumor treatment market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the neuroendocrine tumor treatment market at the global and regional levels.

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Market Overview

Neuroendocrine tumors, or NETs, are a rare type of tumor that develops from cells in the nervous system and the endocrine/hormonal system. However, neuroendocrine tumors can also occur in the appendix, rectum, pancreas, and lungs. Neuroendocrine tumors can be benign or cancerous depending on their nature. Moreover, a growing number of drug approvals for the treatment, increasing prevalence and incidence of NET, and increasing government and public funding in R&D are the major factors for the growth of this market during the forecast period. Another factor fueling the growth of the neuroendocrine tumor treatment market value is the neuroendocrine tumor treatment market is anticipated to expand in the coming years due to the rising incidence of carcinoid tumors. For instance, as per the National Institutes of Health (NIH), a carcinoid tumor is rare in children and more common in adults. Experts think that carcinoid tumors affect 4 in 100,000 adults.

Some of the major players operating in the market include 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., and Advanced Accelerator Applications.

COVID-19 Impact

Due to the pandemic's severe impact on health services for other diseases like cancer, hypertension, diabetes management, and cardiovascular emergencies, COVID-19 has had a slow negative impact on this market. Also, affected are selective procedures like orthopedic joint replacements. The healthcare industry as a whole has suffered as a result of healthcare professionals shifting their attention away from these diseases and toward COVID-19 criticality. The global neuroendocrine tumor treatment market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• On the basis of indication, the market is categorized into lungs, pancreas, gastrointestinal, and others. Among these, the gastrointestinal category holds a significant share of the market in 2020. This is mainly due to the rising incidence of gastrointestinal carcinoid tumors. For instance, according to the (NIH), the common primary sites are the gastrointestinal tract, accounting for 60 percent of the primary tumors, followed by the tracheobronchial tree, accounting for 25 percent of the primary tumors.
• Based on end-user, the neuroendocrine tumor treatment market has been classified into hospitals, clinics, and others. The hospitals category is to witness higher adoption of neuroendocrine tumor treatment during the forecast period. This is mainly due to the high number of patients admitted to hospitals for a variety of conditions and the rising demand for cancer diagnosis and treatment.

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Neuroendocrine Tumor Treatment Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World

North America is anticipated to grow at a substantial CAGR during the forecast period owing to the technological advancements in cancer therapies and the adoption of highly advanced techniques and systems in the neuroendocrine tumor treatment field will boost the North American market's expansion. The high growth of the market in the region is due to the high level of public awareness regarding the availability of cutting-edge therapies for the treatment of neuroendocrine tumors.

The major players targeting the market include

• 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

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the neuroendocrine tumor treatment market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the neuroendocrine tumor treatment Market?
• Which factors are influencing the neuroendocrine tumor treatment market over the forecast period?
• What are the global challenges, threats, and risks in the neuroendocrine tumor treatment market?
• Which factors are propelling and restraining the neuroendocrine tumor treatment market?
• What are the demanding global regions of the neuroendocrine tumor treatment market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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Neuroendocrine Tumor Treatment Market Report Coverage

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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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