A neuroendocrine tumor is responsible for causing the maximum number of cancer-related deaths worldwide. Still, there is a lack of improvement in screening research due to the lack of funding and other resources from various regions for pancreatic cancer and associated disorders in developing counties. The pharmaceutical industry's lifeline is R&D. The success of major drug companies is almost wholly dependent upon the discovery and development of new medicines and their allocation of capital expenditures.
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Global Neuroendocrine Tumors Market is expected to reach USD 5,300.53 million by 2028 from USD 2,485.31 million in 2020, growing with a healthy CAGR of 10.4% in the forecast period of 2021 to 2028. The global neuroendocrine tumors market is growing tremendously due to rising incidence of neuroendocrine tumor cases, robust growth in the number of private diagnostic center and healthcare providers and increased demand for targeted therapy. Other factors anticipated to propel the growth of the global neuroendocrine tumors market include increased favorable reimbursement policies, government funding and initiatives.
Technological advancement for the detection of neuroendocrine tumors globally is expected to drive the market's growth rate
For diagnostic purposes, the novel diagnostic imaging techniques and biomarkers would become a bolster factor for increased partnerships and research collaborations. The novel diagnostic imaging methods would result in definite treatment of the patients. The use of diagnostic imaging would assist in early diagnosis and widen the scope of clinical applications. There would be a rise in collaborations between research industries and diagnostic industries. Hence, it will increase investments and public-private organizations' funds, ensuring the patients' safe health.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Classification (Functional Net and Non-Functional Net), Site (Lung, Pancreas, Gastrointestinal Tract (GI)), Grade (Grade 1 (Low-Grade Tumor, Grade 2 (Intermediate-Grade Tumor, Grade 3 (High-Grade Tumor)), Type (Diagnosis and Treatment), Route of Administration (Oral and Parenteral), End User (Hospitals, Specialty Clinics, Radiation Centers, Home Healthcare and Others), Distribution Channel (Direct Tender, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S.), Viatris Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novartis AG (Switzerland), Regeneron Pharmaceuticals, Inc. (U.S.), Sun Pharmaceutical Industries Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (U.S.), LUPIN (India), Exact Sciences Corporation (U.S.), Pfizer Inc. (U.S.), Ipsen Pharma (France), Advanced Accelerator Applications (France), BioSynthema Inc. (U.S.), Merck & Co., Inc. (Germany), Bionano Genomics (U.S.), callistopharma (U.S.), Illumina, Inc. (U.S.), GlaxoSmithKline plc (U.K.), Hutchison China MediTech Limited (China) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
Global neuroendocrine tumors market is categorized into seven notable segments which are based on the classification, site, grade, type, route of administration, end user and distribution channel.
- On the basis of classification, the global neuroendocrine tumors market is segmented into functional net and non-functional net. In 2021, non-functional net segment is dominating the global neuroendocrine tumors market with the market share of 71.9% due to ease of identification and diagnosis and use of novel diagnostic method to remove the non-functional net.
- On the basis of site, the global neuroendocrine tumors market is segmented into lung, pancreas and gastrointestinal tract (GI). In 2021, gastrointestinal tract (GI) segment is dominating the global neuroendocrine tumors market with the market share of 52.71% due to the increased prevalence of gastric cancer and presence of strong product pipeline are predicted to dominate the market.
- On the basis of grade, the global neuroendocrine tumors market is segmented into grade 1 (low-grade tumor), grade 2 (intermediate-grade tumor) and grade 3 (high-grade tumor). In 2021, the grade 2 (intermediate-grade tumor) segment is dominating the market with the market share of 53.32% since it can be easily cured by therapeutic treatments and rise in grade 2 (intermediate-grade tumor) cases are predicted to dominate the market.
- On the basis of type, the global neuroendocrine tumors market is segmented into diagnosis and treatment. In 2021, the diagnosis segment is dominating the global neuroendocrine tumors market with the market share of 56.22% due to the increased incidence of pancreatic cancer tumor and increased adoption of automated point of care diagnosis in the market.
- On the basis of route of administration, the global neuroendocrine tumors market is segmented into oral and parenteral. In 2021, oral segment is dominating the global neuroendocrine tumors market with the market share of 58.94% due to availability of medication in oral form, greater patients compliance and ease of absorption.
- On the basis of end user, the global neuroendocrine tumors market is segmented into hospitals, specialty clinics, radiation centers, home healthcare and others. In 2021, hospitals segment is dominating the global neuroendocrine tumors market with the market share of 40.34% due to the availability of diagnostics machines to detect neuroendocrine tumour with the availability of healthcare policies.
Hospitals dominates the end user segment of the neuroendocrine tumors market
In 2021, hospitals segment will emerge as the dominating segment with 40.00% market share approximately. This is because of the rising awareness about the availability of treatment options among the population. Also, growth and expansion of the healthcare infrastructure will yet again bolster the growth and dominance of this segment.
- On the basis of distribution channel, the global neuroendocrine tumors market is segmented into direct tender, hospital pharmacy, retail pharmacy, online pharmacy and others. In 2021, direct tender segment is dominating the global neuroendocrine tumors market with the market share of 35.91% due to rise of suppliers in the market.
Direct tender dominates the distribution channel segment of the neuroendocrine tumors market
In 2021, direct tender segment will emerge as the dominating segment with 36.00% market share approximately. This is because of the cost of healthcare, healthcare service providers are focusing on better services for customers along with reducing the overall cost. Also, growth and expansion of the direct tender distribution channel will yet again bolster the growth and dominance of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major neuroendocrine tumors market players in advanced wound care market are F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S.), Viatris Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), and Advanced Accelerator Applications (France).
Market Development
- In January 2021, Sandoz declared that it had signed a legally binding contract for the intended acquisition of Aspen Global Incorporated's (AGI), a fully owned subsidiary of Aspen Pharmacare Holdings Limited, Japanese business. The intended acquisition entails AGI-owned Aspen Japan K.K. stock and related assets. According to the terms of the deal, Sandoz will pay an initial cash consideration of EUR 300 million at closure.
- For the treatment of adult patients with non-small cell lung cancer (NSCLC) that has progressed to other regions of the body, the U.S. FDA authorized Tabrecta (capmatinib) in May 2020. The first FDA-approved therapy for NSCLC with certain mutations is tabrecta (those that lead to mesenchymal-epithelial transition or MET exon 14 skipping).
Regional Analysis
Geographically, the countries covered in the neuroendocrine tumors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in neuroendocrine tumors market during the forecast period 2021 - 2028
North America is dominating the global neuroendocrine tumors market in terms of market share owing to the well-established healthcare infrastructure and existence of advanced healthcare technologies in this region is another reason for this region's dominance in the global market. U.S. is dominating in the North America neuroendocrine tumors market because U.S. has the highest household spending for healthcare emergencies.
Asia-Pacific is estimated to be the fastest-growing region in neuroendocrine tumors market the forecast period 2021 - 2028
Asia-Pacific is expected to grow during the forecast period due to the increasing patient population, rising level of private and public expenditure on the development of healthcare industry infrastructure, and increasing per-capita income. China is dominating in the Asia-Pacific neuroendocrine tumors market because of the availability of health remuneration policies that would result in all the expenses covered for a neuroendocrine tumors and certain privileges offered to senior citizens in the region.
COVID-19 Impact Analysis
As the pandemic significantly damaged health services for other diseases like cancer, hypertension, diabetes care, and cardiovascular emergencies, COVID-19 has had a slow but damaging influence on this market. Additionally affected are selective operations like orthopedic joint replacement. The broader healthcare business has suffered because healthcare professionals' attention has been diverted from these disorders to the COVID-19 criticality. The COIVD-19 had a significant impact on life sciences research, halting research activities and slowing down the advancement of the majority of research and academic institutions, clinical research institutions, and so on.
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