Neuroendocrine Tumor Treatment Market Size is Expected to Reach at USD 6,336 Million by 2030, Registering a CAGR of 10%, Owing to Increasing Incidence of NETs
The Global NET Treatment Market Size is predicted to reach USD 6,336 Million by 2030 from USD 2,741 Million in 2021, at a CAGR of 10% between 2022 and 2030, as per the Acumen Research and Consulting
The market for neuroendocrine tumor (NET) treatment is rapidly evolving, with new therapies and technologies being developed. There has been an increased focus on targeted therapies, such as somatostatin analogs, mTOR inhibitors, and tyrosine kinase inhibitors, which are designed to specifically target the genetic mutations that drive NET growth. Additionally, advances in imaging and diagnostic techniques have improved the ability to identify and stage NETs, which is crucial for determining the appropriate treatment approach. There is also increasing interest in immunotherapies as a treatment option for NETs. The NET treatment market is expected to continue to grow in the coming years, driven by the increasing prevalence of NETs and the development of new and innovative therapies.
Neuroendocrine tumors (NETs) are a type of cancer that originates in the neuroendocrine cells, which are cells that have characteristics of both nerve cells and hormone-producing cells. NETs can occur in various parts of the body, including the pancreas, lungs, and gut. The market for NET treatment is growing due to several factors. One of the main factors is the increasing incidence of NETs. According to the National Cancer Institute, the incidence of NETs has been increasing over the past several decades, with an estimated 11,970 new cases in the United States in 2020. This is partly due to the increased use of imaging techniques, such as CT and MRI scans, which have improved the ability to detect NETs.
NET Treatment Market Statistics
- Global NET treatment market revenue collected USD 2,741 Million in 2021, with a 10% CAGR between 2022 and 2030
- North America NET treatment market value gathered more than USD 932 Million in 2021
- According to the National Cancer Institute, NETs account for about 1-2% of all new cancer cases in the United States
- By site, the pancreas sector capture over 34% of total market share in 2021
- Development of new drugs, fuels the NET treatment market size
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NET Treatment Market Trends
The Neuroendocrine Tumor (NET) treatment market is driven by several factors such as the increasing incidence of NETs, growing awareness about the disease, and advancements in treatment options. With the rise in the number of people suffering from NETs, there is an increasing demand for effective treatment options, which is expected to drive market growth. The increasing use of targeted therapies and immunotherapies for the treatment of NETs is also expected to drive market growth. Targeted therapies are more specific in their action and have fewer side effects than traditional chemotherapy, which makes them a preferred option for treatment.
Similarly, opportunities for market expansion include the advancement of customized medicine and the increasing use of minimally invasive surgical techniques. Personalized medicine includes adapting treatment to the genetic composition of the particular patient, which can result in more effective treatment outcomes. Minimally invasive surgical treatments are becoming more popular since they have fewer problems and a faster recovery period.
However, the high cost of treatment and limited reimbursement options may act as a restraint for the market. NET treatment is a costly affair, and many patients may not be able to afford the treatment. Additionally, reimbursement policies for NET treatment vary across different countries and regions, which can be a hindrance to the NET treatment market growth.
NET Treatment Market Segmentation
Acumen Research and Consulting has segmented the global NET Treatment market by site, product, and end-user.
- By site, the industry is categorized into small intestine, lungs, pancreas, colon, and others.
- By product, the market is divided into targeted therapy, somatostatin analogs (SSAs), and others.
- By end-user, the industry is classified into clinics, hospitals, and others.
NET Treatment Market Regional Overview
The NET treatment market is divided into five geographic segments: North America, Europe, Latin America, Asia Pacific, and the MEA. As per the NET treatment industry analysis, North America is the dominant region in the Neuroendocrine Tumor (NET) treatment market, driven by factors such as the increasing incidence of NETs, advancements in treatment options, and a large patient population. Additionally, the presence of major players in the market and high healthcare expenditure in the region also contribute to market growth. In North America, the United States is the major contributor to market growth. The U.S. market is driven by the presence of a large patient population, the increasing adoption of targeted therapies, and the high healthcare expenditure in the country. Canada is also expected to contribute to the market growth in North America. The Canadian NET treatment market is driven by the increasing incidence of NETs, the growing awareness about the disease, and the increasing adoption of targeted therapies.
NET Treatment Market Players
Some of the major NET treatment market companies are Tarveda Therapeutics, Novartis AG, Hutchison MediPharma Limited, Pfizer, Inc., IpsenPharma, Progenics Pharmaceuticals, AVEO Oncology, and BoehringerIngelheim International GmbH.
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Mr. Frank Wilson
Acumen Research and Consulting
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