Pheochromocytoma Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The Global Pheochromocytoma Market Size accounted for USD 2,989 Million in 2021 and will achieve a market size of USD 4,246 Million by 2030, budding at a CAGR of 4.2%.

High blood pressure, headache, heavy sweating, rapid heartbeat, etc are some major symptoms of the pheochromocytoma. Pheochromocytoma is noncancerous tumor that develops in specialized cells, called chromaffin cells, located in the center of an adrenal gland.

Global Pheochromocytoma Market DROs:

Drivers

• Surging prevalence of pheochromocytoma
• The growing incidence rate of tumors
• The rapid change in lifestyles

Restraints

• Strict regulatory scenarios
• Lack of awareness of the disease
• Scarcity of specific medications

Opportunities

• Increasing healthcare expenditure
• Rising number of clinical trials to develop new drugs
• Growing investments by leading players

Report Coverage

Prevalence of Pheochromocytoma tumor is witnessed across the globe. It is a rare type of tumor that originates from the chromaffin cells that are responsible for the production of necessary hormones for the body function properly. Pheochromocytoma generally is witnessed on the adrenal gland which is located above the kidney. Adrenal medulla contains major amount of chromaffin cells they can be seen in the adrenal glands inner layer. Approximately 90 percent of pheochromocytomas occur in the adrenal medulla. Approximately 10 percent occur outside of this area. Rise in number of patients suffering from chronic tumor across the globe and rapid advancements in the healthcare sector are major factors expected to drive the growth of global pheochromocytoma market. In the United States, about 2 to 8 people per every 1 million people are diagnosed with these tumors each year. Around 100 to 200 of these cases are malignant. In Europe a total of 239 patients with pheochromocytoma or paraganglioma (collectively with 251 tumors) were identified from a population of 5,196,368 people over a period of 7 years. The overall incidence of pheochromocytoma or paraganglioma was 0.66 cases per 100,000 people per year.

Drugs manufacturers are investing high for the development of new drugs, high flow of clinical trials and favorable policies by the government are factors expected to augment the growth of pheochromocytoma market.

Major players approach towards enhancing the business in emerging economies through partnerships and shift the manufacturing units to developing countries due to easy availability of raw material and low cost labor these factors are expected to boost the growth of target market. Factors such as high cost associated to drug development and lack of developed infrastructure for R&D activities in developing countries are expected to hamper the growth of global pheochromocytoma market. In addition, strict regulation by the government for product approval is expected to challenge the growth of target market. However, increasing investment for R&D activities and collaborative work approach for drug development are factors expected to create new opportunities for players operating in the pheochromocytoma market over the forecast period. In addition, increasing acquisition activities by major players in order to strengthen its customer base and enhance the product offerings is expected to support the revenue transaction of the target market.

Pheochromocytoma Market Segmentation

The global pheochromocytoma market is segmented into diagnosis and treatment. The diagnosis segment is divided into laboratory tests, imaging tests, and genetic testing. The treatment segment is bifurcated into medications and surgery. Among treatment the medication segment is expected to account for major revenue share in the global pheochromocytoma market.

Market by Diagnosis

• Laboratory Tests
• Imaging Tests
• Genetic Testing

Market by Treatment

• Medications
• Surgery

Pheochromocytoma Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa