NEUROENDOCRINE TUMOR TREATMENT MARKET ANALYSIS

The global neuroendocrine tumor treatment market is estimated to be valued at US$  3.24 Bn in 2023 and is expected to exhibit a CAGR of 6.2% during the forecast period (2023-2030).

Analysts’ Views on the Global Neuroendocrine Tumor Treatment Market:

Increasing grants for research and development activities for neuroendocrine tumor at research institutes is expected to drive the growth of the global neuroendocrine tumor treatment market over the forecast period. For instance, in November 2022, a five-year of US$ 3.3 million grant from the National Institutes of Health (NIH) was given to the Institute of Molecular Medicine at McGovern Medical School to research receptor-targeted fluorescence-guided surgery for pancreatic neuroendocrine tumors. Researchers will be able to undertake a Phase 1 clinical study with a fluorescent contrast agent that can detect neuroendocrine tumors in real-time during surgery due to funding for the project, "Receptor-targeted Fluorescence-Guided Surgery in Pancreatic Neuroendocrine Tumors." The Azhdarinia lab focuses on the creation of compounds that can be employed as contrast agents in nuclear imaging and fluorescence-guided surgery. Lab researchers also specialize in targeted medicine delivery straight to tumors.

Figure 1. Global Neuroendocrine Tumor Treatment Market Share (%), By Drug Class, 2023

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Global Neuroendocrine Tumor Treatment Market - Drivers

• Increasing number of clinical trials: A rising number of clinical trials for peptide-targeted radionuclide therapy development by market players is expected to create growth opportunities for the global neuroendocrine tumor treatment market in the near future. For instance, in June 2021, Clovis Oncology, Inc., a U.S.-based pharmaceutical company, announced that the first clinical site for the Phase 1/2 LuMIERE study of FAP-2286, its novel peptide-targeted radionuclide therapy and imaging agent targeting fibroblast activation protein (FAP), is now open at the O’Neal Comprehensive Cancer Center at The University of Alabama at Birmingham (UAB). The Phase 1 portion of the LuMIERE study will evaluate the safety of the FAP-targeting investigational therapeutic agent and identify the recommended Phase 2 dose and schedule of lutetium-177 labeled FAP-2286 (177Lu-FAP-2286). FAP-2286 labeled with gallium-68 (68Ga-FAP-2286) will be utilized as an investigational imaging agent to identify patients with FAP-positive tumors appropriate for treatment with the therapeutic agent. Once the Phase 2 dose is determined, Phase 2 expansion cohorts are planned for multiple tumor types.
• Increasing adoption of growth strategies: Market players are focusing on inorganic growth strategies such as collaboration to expand the sales of their products, and this is expected to boost the growth of the global neuroendocrine tumor treatment market over the forecast period. For instance, in December 2021, Radiomedix, Inc., a biotechnology company, in collaboration with Orano Med LLC, the global leader in high performance chelating agent technology that offers a broad range of services and products, announced the initiation of a multicenter Phase 2 study of 212Pb-DOTAMTATE enrolling adult subjects with positive somatostatin-positive neuroendocrine tumors with no prior history of peptide receptor radionuclide therapy (PRRT naive). This is currently in Phase 2 and is expected to get completed by December 2023.

Figure 2. Global Neuroendocrine Tumor Treatment Market Share (%), By Region, 2023

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Global Neuroendocrine Tumor Treatment Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global neuroendocrine tumor treatment market over the forecast period due to key market players being focused on adopting strategies such as acquisition and merger to enhance their market share. For instance, on February 6, 2023, Isoray, Inc., a medical technology company pioneering in advanced treatment applications and devices to deliver targeted internal radiation treatments for cancers, announced the completion of the merger with Viewpoint Molecular Targeting, Inc., a radiopharmaceutical company that is developing precision oncology therapeutics and complementary diagnostic imaging agents. Both companies will focus on the advancement of cancer treatments by using radiation, radiopharmaceuticals, and imaging technologies so that precision, targeted medical doses are delivered directly to cancer patient tumor sites. This merger will further help the company expand its product portfolio.

Global Neuroendocrine Tumor Treatment Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding transportation of products from one place to another.

The COVID-19 pandemic also had a negative impact on the global neuroendocrine tumor treatment market. For instance, according to a article published in January 2021, titled "Impact of the COVID-19 pandemic on neuroendocrine tumor services in England" in the journal Endocrine, there were particular worries about the specialized tumor treatment services during the COVID-19 pandemic. According to the same article, the major interruption in specialist neuroendocrine treatment services included noticeably longer wait times for both new and follow-up consultations, with follow-up appointments being delayed the most.

Global Neuroendocrine Tumor Treatment Market Segmentation:

The global neuroendocrine tumor treatment market is segmented into drug class, indication, and distribution channel.

• By drug class, the market is segmented into somatostatin analogs, chemotherapy, targeted therapy, immunotherapy, and others. Out of which, the somatostatin analogs segment is expected to hold a dominant position in the global neuroendocrine tumor treatment market during the forecast period due to the increasing product approvals of somatostatin analogs for the treatment of neuroendocrine tumors.
• By indication, the market is segmented into gastrointestinal NET, lung NET, pancreatic NET, and others. Out of which, the gastrointestinal NET segment is expected to hold a dominant position in the global neuroendocrine tumor treatment market during the forecast period, due to increasing prevalence of neuroendocrine tumors.
• By distribution channel, the market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies. Out of which, the hospital pharmacies segment is expected to hold a dominant position in the global neuroendocrine tumor treatment market over the forecast period, due to the increasing demand for hospital pharmacies.

Among all the segmentation, the drug class segment is expected to have high potential in the global neuroendocrine tumor treatment market over the forecast period, and this is attributed to the increasing product approvals from the regulatory authorities. For instance, in December 2021, Cipla Limited, an India-based multinational pharmaceutical company, and its subsidiary Cipla USA, Inc. announced that they had received final approval for their lanreotide injection from the U.S. Food and Drug Administration (FDA). Lanreotide is a somatostatin analogue. It can be used for the treatment of patients with acromegaly and gastroenteropancreatic neuroendocrine tumors (GEP-NETs).

Global Neuroendocrine Tumor Treatment Market - Cross Sectional Analysis:

Among the indication segment, gastrointestinal NET segment is expected to dominate the market in the Europe region, owing to the increasing research and development activities. For instance, the Journal of Cancer Research and Clinical Oncology 2022 published a retrospective cross-sectional study to identify gastrointestinal (non-pancreatic) neuroendocrine tumors.  The results indicated that the majority of patients had tumors that originated in the small intestine; however, patients from Germany had a little overrepresented NET of the large intestine and a significantly underrepresented NET of the stomach. More than 80% of patients had stage IV disease at the time of diagnosis. Regarding tumor histology, most tumors showed a G2 (Grade 2) tumor. G3 grading was found in 40.9% of patients in Germany. Thus, Germany-based people are more susceptible to gastrointestinal neuroendocrine tumors than the rest of the European countries.

Global Neuroendocrine Tumor Treatment Market: Key Developments

• On April 2023, researchers in Madrid from Cambridge University announced a global collaboration with researchers at the Spanish National Cancer Research Center (CNIO) for the genomic study of rare neuroendocrine tumors known as pheochromocytomas and paragangliomas (PPGLs) from immunotherapy. The aim of the collaboration is to provide patients with early diagnosis of the primary tumor and stop the growth of cancer cell.
• On November 2022, the government of the U.S., on the occasion of World Neuroendocrine Cancer Awareness Day, conducted an awareness campaign on therapeutic options for well-differentiated NETs (neuroendocrine tumors) in partnership with City of Hope Medical Center, based in California.
• In September 2022, Eli Lilly and Company, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had granted approval to Retevmo (selpercatinib, 40 mg and 80 mg capsules) for adult patients with locally advanced or metastatic solid tumors. In the LIBRETTO-001 trial, selpercatinib demonstrated clinically durable responses across a variety of tumor types in patients with RET-driven cancers, including pancreatic, colon, and other cancers.

Global Neuroendocrine Tumor Treatment Market: Key Trends

Adoption of growth strategies such as product approval, launch, etc.

Key market players are focused on adopting various growth strategies, such as product approval, launch and others, which in turn is expected to boost market growth over the forecast period. For instance, in October 2022,  ITM Isotype Technologies Munich SE, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had granted a fast track designation to Lu-edotreotide (ITM-11) for use as a potential therapeutic option in patients with gastroenteropancreatic neuroendocrine tumors (GEP-NETs). ITM-11 is comprised of the octreotide-derived somatostatin analog edreotide (Dotatoc) and no-carrier lutetium-177 chloride, which is a beta-emitting therapeutic radioisotope.

Global Neuroendocrine Tumor Treatment Market: Restraint

• Current limitations in pancreatic cancer treatment : According to an article published in the National Center for Biotechnology Information (NCBI) on July 28, 2020, pancreatic neuroendocrine tumors (PNETs) are characterized by significant heterogeneity, which is the major challenge associated with the management of neoplasia. Also, the majority of PNET therapeutics only stabilize the disease with minimal benefits for patients. Lack of specific biomarkers inhibits the early diagnosis and selection of effective drugs in clinics. The absence of preclinical models, mainly cellular models, limits effective anticancer examination and a better understanding of the biology of PNETs in the laboratory. Immunotherapy does not work in neuroendocrine tumor patient population. Nevertheless, several molecules are emerging as new therapeutic targets for the management of PNETs.

Global Neuroendocrine Tumor Treatment Market - Key Players

The major players operating in the global neuroendocrine tumor treatment market include Pfizer Inc, Novartis AG, Ispen, Advanced Accelerator Applications, Tarveda Therapeutics, Progenics Pharmaceuticals, Inc., Hutchison Medipharma Limited, Dauntless Pharmaceuticals Inc., and Exelixis, Inc.

Definition: A neuroendocrine tumor treatment refers to the various methods used to manage and treat neuroendocrine tumors, which are rare, slow-growing tumors that originate in the body's neuroendocrine cells. These cells are responsible for producing hormones, so these tumors can sometimes lead to an overproduction of hormones in the body.