Neuroendocrine tumors (NETs) result from the abnormal growth of neoplasms that originate from cells of various endocrine glands and nervous systems. Though most of these are benign, some tend to become malignant and may turn cancerous in the long term. Neuroendocrine tumors are generally infected initially in intestine, which are often known as carcinoid tumors. Pancreas is the second most prime organ in the body, where growth of NET is common. There are number of clinical trials are ongoing to develop the novel therapy or drugs for the treatment of the pancreatic neuroendocrine tumors in adult patients.
Market Dynamics
The rising incidence of GI and lung neuroendocrine tumors is a key factor that is expected to fuel growth of the global neuroendocrine tumor treatment market over the forecast period. For instance, according to data published in American Society of Clinical Oncology (ASCO) in 2019, estimated 12,000 people in the U.S. are diagnosed with a NET, each year. And around 170,000 people are living currently with NET. The 5-year survival for NET of the small intestine was 86.2%, 82.7% for stomach, and 67.4% for colon. Apart from GI and Lung Neuroendocrine, there are other factors, which influence NET include hormonal imbalance at pituitsary gland and thyroid gland. The rising demand for various imagining techniques in North America and Europe is expected to fuel growth of the global market over the forecast period. Drug portfolio expansion and development of new products that can inhibit excess hormone production are some of the other factors that are expected to augment growth of the global neuroendocrine tumor treatment market over the forecast period.
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