Number of pages: 100 | Report Format: PDF | Published date: June 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 1.65 billion |
Revenue Forecast in 2031 |
US$ 4.51 billion |
CAGR |
10.6% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Treatment Type, Indication, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global carcinoid tumor syndrome treatment market was valued at US$ 1.65 billion in 2022 and is expected to register a revenue CAGR of 10.6% to reach US$ 4.51 billion by 2031.
Carcinoid Tumor Syndrome Treatment Market Fundamentals
Carcinoid tumor syndrome refers to a group of symptoms that occur as a result of certain types of neuroendocrine tumors called carcinoid tumors. These tumors typically arise from neuroendocrine system cells, which are found throughout the body, particularly in the digestive tract and lungs. Carcinoid tumor syndrome occurs when these tumors secrete excessive amounts of certain hormones and bioactive substances, such as serotonin. Treating carcinoid tumor syndrome involves a combination of approaches to manage symptoms, control tumor growth, and improve the overall quality of life. The specific treatment options can vary depending on the location of the tumors, their size, the extent of metastasis, and individual patient factors.
Carcinoid Tumor Syndrome Treatment Market Dynamics
There has been a rising incidence of carcinoid tumors in recent years. Improved diagnostic techniques and increased awareness among healthcare professionals have led to more accurate and timely diagnoses. The growing prevalence of carcinoid tumor syndrome drives the demand for effective treatment options. According to the article published by the Lancet, the incidence of NEN in England was 8.8 per 100,000 inhabitants in 2018, up from 2.5 per 100,000 in 1995, representing a 371% increase in absolute terms. Every major primary site of NEN increased in incidence year after year, with pancreatic and rectal NEN seeing the highest yearly average increases of 110.6% and 109.9% per year, respectively. Ongoing research and development efforts are focused on discovering novel therapeutic agents and treatment modalities for carcinoid tumor syndrome. This includes the development of new somatostatin analogs with longer half-lives, targeted therapies that inhibit specific signaling pathways, and immunotherapies that harness the body's immune system to fight cancer cells. These advancements have improved symptom management and provided better control of tumor growth. The availability of more effective treatments drives the carcinoid tumor syndrome treatment market growth. Pharmaceutical companies and research institutions continue to invest in developing novel therapies for carcinoid tumor syndrome. Ongoing research aims to identify new drug targets, enhance treatment efficacy, and minimize side effects. The progress in research and development activities is increasing the carcinoid tumor syndrome treatment market demand. Growing awareness campaigns and educational initiatives about carcinoid tumor syndrome among healthcare professionals, patients, and the general public help in early detection and prompt treatment. Increased awareness leads to better patient outcomes and fuels carcinoid tumor syndrome treatment market growth.
However, some of the treatments for carcinoid tumor syndrome, including targeted therapies and newer medications, can be expensive. The high costs of these treatments may limit access for certain patients, restricting the growth of the carcinoid tumor syndrome treatment market. The development and approval process for new treatments can be time-consuming and complex. Regulatory requirements can pose challenges to pharmaceutical companies seeking to bring innovative therapies to market, which is also hindering the growth of the carcinoid tumor syndrome treatment market growth.
Carcinoid Tumor Syndrome Treatment Market Ecosystem
The global carcinoid tumor syndrome treatment market is analyzed from four perspectives: treatment type, indication, end user, and region.
Carcinoid Tumor Syndrome Treatment Market by Treatment Type
Based on the treatment types, the global carcinoid tumor syndrome treatment market is segmented into chemotherapy, somatostatin analogues and targeted therapy.
The somatostatin analogues segment accounted for the largest carcinoid tumor syndrome treatment market share in 2022. The somatostatin analogues segment is further sub-segmented into octreotide, lanreotide, and others. Somatostatin analogues, such as octreotide and lanreotide, have demonstrated efficacy in controlling the symptoms associated with carcinoid tumor syndrome. These medications effectively inhibit the tumor's secretion of various hormones and bioactive substances, including serotonin, which is responsible for symptoms like flushing and diarrhea. According to the National Center for Biotechnology Information, both octreotide and lanreotide provide symptomatic relief in 50% to 70% of patients and biochemical responses in 40% to 60% of patients. Somatostatin analogues have been used for many years in treating neuroendocrine tumors, including carcinoid tumor syndrome. They have a well-established track record of safety and effectiveness. Physicians are familiar with their use and prescribing practices, contributing to their widespread adoption and growth in the market. Long-acting somatostatin analogues, such as depot formulations, offer the advantage of sustained release over an extended period. These formulations reduce the frequency of injections required, which can improve patient convenience and adherence to treatment. While there have been advancements in other treatment modalities, such as targeted therapies and liver-directed therapies, somatostatin analogues remain the primary treatment option for controlling symptoms of carcinoid tumor syndrome. The availability of alternative therapies may be limited based on factors such as tumor characteristics, disease stage, and patient eligibility.
Carcinoid Tumor Syndrome Treatment Market by Indication
Based on the indications, the global carcinoid tumor syndrome treatment market is segmented into gastrointestinal carcinoid tumor, lung carcinoid tumor, pancreatic carcinoid tumor, and others.
The gastrointestinal carcinoid tumor segment accounted for the prominent revenue share of the carcinoid tumor syndrome treatment market. Gastrointestinal carcinoid tumors are the most common type of carcinoid tumors. They typically originate in the digestive tract, particularly in the small intestine, appendix, and rectum. The higher incidence of gastrointestinal carcinoid tumors compared to other tumor locations is fueling segmental growth. According to the National Center for Biotechnology Information, gastrointestinal carcinoid tumor account for 70% of all cases of carcinoid tumors. Gastrointestinal carcinoid tumors often produce symptoms that significantly impact patients' quality of life. These symptoms may include abdominal pain, diarrhea, flushing, wheezing, and other manifestations of excessive hormone secretion. The severity and frequency of these symptoms often require effective treatment interventions. Given the higher incidence of gastrointestinal carcinoid tumors, research and development efforts have been focused on improving treatment options specifically for this segment. Clinical trials and studies often prioritize gastrointestinal carcinoid tumors, resulting in the development of new therapies and targeted treatments, which are also expected to boost segmental growth.
Carcinoid Tumor Syndrome Treatment Market by End User
Based on the end users, the global carcinoid tumor syndrome treatment market is segmented intohospitals, oncology centers, and others.
The hospitals segment accounted for a significant carcinoid tumor syndrome treatment market share in 2022. Hospitals provide comprehensive healthcare services, including diagnosis, treatment, and follow-up care for patients with carcinoid tumor syndrome. They have access to a wide range of specialists, including oncologists, surgeons, radiologists, and endocrinologists, who collaborate to develop individualized treatment plans. The multidisciplinary approach offered by hospitals ensures that patients receive comprehensive care for their condition. Hospitals are equipped with advanced medical infrastructure and facilities necessary for diagnosing and treating carcinoid tumor syndrome. They have state-of-the-art imaging equipment, surgical suites, and intensive care units, enabling them to provide specialized procedures and interventions required for the management of the disease. Hospitals often have integrated healthcare systems, including outpatient clinics, inpatient wards, and specialized departments. This integration allows for seamless coordination of care across different stages of treatment.
Carcinoid Tumor Syndrome Treatment Market by Region
Geographically, the global carcinoid tumor syndrome treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest carcinoid tumor syndrome treatment market size in terms of revenue generation accounting for around 36.4% share of the market. The prevalence of carcinoid tumors is increasing significantly in North America. This increased incidence of carcinoid tumors drives the region's demand for effective treatment options for carcinoid tumor syndrome. According to the American Society of Clinical Oncology (ASCO), it is estimated that more than 12,000 people in the U.S. are diagnosed with a NET each year, and approximately 171,000 people are living with this diagnosis. North America is known for its advanced healthcare infrastructure, including well-equipped hospitals, specialized treatment centers, and advanced diagnostic and treatment technologies. The presence of state-of-the-art healthcare facilities enables early detection, accurate diagnosis, and timely management of carcinoid tumor syndrome. North America is home to several leading pharmaceutical companies that are actively involved in the research, development, and commercialization of treatments for carcinoid tumor syndrome. The presence of a robust pharmaceutical industry, along with investments in clinical trials and drug development, drives innovation and the availability of new treatment options for patients in the region. n: North America is a hub for technological advancements and medical innovation. The region is at the forefront of research and development activities related to carcinoid tumor syndrome treatment. The availability of cutting-edge technologies and ongoing innovation leads to the development of novel therapies, targeted treatments, and improved diagnostic techniques, which is also propelling the carcinoid tumor syndrome treatment market growth.
Carcinoid Tumor Syndrome Treatment Market Competitive Landscape
The prominent players operating in the global carcinoid tumor syndrome treatment market are:
Carcinoid Tumor Syndrome Treatment Market Strategic Developments
Carcinoid tumor syndrome treatment involves a combination of approaches aimed at managing symptoms, controlling tumor growth, and improving the overall quality of life.
Market players form strategic partnerships and collaborations with other pharmaceutical companies, research institutions, and academic centers.
The major players operating in the global carcinoid tumor syndrome treatment market are Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Ipsen Pharma, and Advanced Accelerator Applications.
The global carcinoid tumor syndrome treatment market growth is estimated to grow at a revenue CAGR of 10.6% during the forecast period from 2023 to 2031.
The estimated size of the global carcinoid tumor syndrome treatment market in 2031 is US$ 4.51 billion.
*Insights on financial performance are subject to the availability of information in the public domain