Middle East and Africa Neuroendocrine Tumors Market, By 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), Mode of Purchase (Prescription and Over the Counter (OTC)), End User (Hospitals, Specialty Clinics, Radiation Centres, Home Healthcare and Others), Distribution Channel (Direct Tender, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies and Others), Country (South Africa, Saudi Arabia, UAE, Egypt, Israel, Kuwait & Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Neuroendocrine Tumors Market
Neuroendocrine tumors market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.3% in the forecast period of 2021 to 2028 and is expected to reach USD 174.12 million by 2028. Strategic initiatives by market players and advent of mass vaccination programmes for neuroendocrine tumors are likely to be the major drivers which propelled the demand of the market in the forecast period.
The intiation of tumor takes place when the DNA of healthy cells is damaged which causes the cells to change and grow in an uncontrolled manner, hence forming an aggregated mass of cells. A tumor can be cancerous and benign. A malignant cancerous tumor grows and spreads to other parts of the body if it is not found early and treated. A benign tumor can grow but will not spread. A benign tumor usually can be removed with use of minimally invasive surgery without it causing much harm. A neuroendocrine tumor (NET) begins in the specialized cells of the body’s neuroendocrine system. These cells have common traits of both hormone-producing endocrine cells and nerve cells. They are found throughout the body’s organs and are responsible to control many of the body’s functions. All NETs are considered as malignant tumors. Most of the NETs take many years to develop and grow slowly.
However, the factors such as side effects associated with treatments, unmet needs and access to medical resources in several regions, high cost of diagnosis are hampering the growth of the neuroendocrine tumors market. On the other hand, the upcoming targeted treatments and rising partnerships and collaborations among the market players acts as an opportunity for the growth of the neuroendocrine tumors market. The lack of reimbursement policies and the stringent government regulations for neuroendocrine tumors drugs development are the challenges faced in the neuroendocrine tumors market.
The neuroendocrine tumors market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Neuroendocrine Tumors Market Scope and Market Size
Neuroendocrine tumors market is segmented on the basis of classification, site, grade, type, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of classification, the neuroendocrine tumors market is segmented into functional net and non-functional net. In 2021 the non-functional net segment is dominating the neuroendocrine tumors market 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 neuroendocrine tumors market is segmented into lung, pancreas and gastrointestinal tract (GI). In 2021 the gastrointestinal tract (GI) segment is dominating the neuroendocrine tumors market 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 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 neuroendocrine tumors market 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 neuroendocrine tumors market is segmented into diagnosis and treatment. In 2021, the diagnosis segment is expected to dominate the neuroendocrine tumors market 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 neuroendocrine tumors market is segmented into oral and parenteral. In 2021, oral segment is expected to dominate the neuroendocrine tumors market due to availability of medication in oral form, greater patient’s compliance and ease of absorption.
- On the basis of end user, the neuroendocrine tumors market is segmented into hospitals, specialty clinics, radiation centers, home healthcare and others. In 2021, hospitals segment is expected to dominate the neuroendocrine tumors market due to the availability of diagnostics machines to detect neuroendocrine tumor with the availability of healthcare policies.
- On the basis of distribution channel, the neuroendocrine tumors market is segmented into direct tender, hospital pharmacy, retail pharmacy, online pharmacy and others. In 2021, direct tender segment is expected to dominate the neuroendocrine tumors market due to rise of suppliers in the market.
Neuroendocrine Tumors Market Country Level Analysis
The neuroendocrine tumors market is analysed and market size information is provided classification, site, grade, type, route of administration, end user and distribution channel as referenced above.
The countries covered in the neuroendocrine tumors market report are South Africa, Saudi Arabia, UAE, Egypt, Kuwait, Israel and rest of Middle East and Africa.
Middle East and Africa is expected to grow with the substantial growth rate in the forecast period of 2021 to 2028 as Middle East and Africa counties are major developing countries and focus on increasing R&D activities in pharma and biotech sector and increase outsourcing services. South Africa is expected to dominate in the Middle East and Africa region due to technological advancements for the detection of neuroendocrine tumors.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in Government Initiatives and the Rising Collaborations by Market Players are creating new Opportunities in the Neuroendocrine Tumors Market
Neuroendocrine tumors market also provides you with detailed market analysis for every country growth in particular industry with neuroendocrine tumors sales, impact of advancement in the neuroendocrine tumors and changes in regulatory scenarios with their support for the neuroendocrine tumors market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Neuroendocrine Tumors Market Share Analysis
Neuroendocrine tumors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to neuroendocrine tumors market.
The major companies in neuroendocrine tumors market are Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., GlaxoSmithKline plc, Thermo Fisher Scientific Inc., Hutchison China MediTech Limited, F. Hoffmann-La Roche Ltd, Bionano Genomics, Teva Pharmaceutical Industries Ltd., Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Illumina, Inc., and LUPIN among others global or domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the neuroendocrine tumors market.
For instance,
- In January 2018, Novartis AG had proclaimed that Advanced Accelerator Applications, a subsidiary of Novartis AG had received FDA approval for its new drug application Lutathera (lutetium Lu 177 dotatate*) for the treatment of somatostatin receptor positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs) including foregut, midgut and hindgut neuroendocrine tumors in adults. The FDA approval received by the company resulted in rise in clinical trials, enhanced oncology product portfolio in neurology and it would deliver a positive growth in the market.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the neuroendocrine tumors market which also provides the benefit for organisation to improve their offering for treatment.
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