The global neuroendocrine tumor market is projected to grow at a CAGR of around 10% during the forecast period. The market is studied on the basis of treatment type, indication, and end-user. Amongst the indication, the global neuroendocrine tumor market is segmented into the lungs, pancreas, gastrointestinal, and others. The gastrointestinal segment holds a significant share in the market. The segmental growth is attributed to the increased incidences of gastrointestinal diseases such as colon cancer, tumor in the intestine, and many others. The rising prevalence of several gastrointestinal diseases has been recorded globally. As per WHO, gastric cancer has been the fifth most common cancer globally in which malignant (cancer) cells form in the lining of the stomach.
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Smoking and ulcer are some major factors leading to gastric cancer. Additionally, other factors including age factor, diet, and stomach disease such as gastrointestinal reflux disease (GERD) can increase the risk of developing gastric cancer. Symptoms of gastric cancer include indigestion and stomach discomfort or pain. It has been noted that about 6 out of 10 people with the age of 65 years or older are expected to be diagnosed with gastric cancer. Additionally, the average risk of a person developing stomach cancer in their lifetime is about 1 in 111.
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In the US, more than 26,240 incidences of gastric cancer were recorded in 2018 which is about 15% of all new cancer cases, according to the National Cancer Institute. The situations are more severe in Asian countries such as Japan and China. For instance, Japan has around 132,800 cases of stomach cancer in 2017. Similar trends were observed in China as around 498,000 gastric cancer deaths were recorded. Such an increasing number of cases increase the demand for better treatment options, which in turn, drive the growth of the global neuroendocrine tumor market.
Global Neuroendocrine Tumor Market – Segmentation
By Treatment Type
- Somatostatin Analogs (SSA)
- Targeted Therapy
- Chemotherapy
- Others
By Indication
- Lungs
- Pancreas
- Gastrointestinal
- Others
By End-User
- Hospital& Clinics
- Others
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