Neuroendocrine Tumor Treatment Market Trends

Growth Drivers

• Increasing Incidence of Neuroendocrine Cancer – On account of the increasing advancements in neuroendocrine tumors diagnosis, such as improved imaging tests and endoscopy, as well as growing awareness of these tumors, the neuroendocrine tumor treatment market is expected to expand more in the upcoming years. In the United States every year, five people out of every 100,000 are diagnosed with neuroendocrine tumors (NETs).
• Rising Improvements in Technology for Treating Neuroendocrine Tumors – The application of modern technology to examine the underlying biology, develop of new therapeutics, and clinical trials to evaluate novel drugs is estimated to drive market growth. Further, the ability to employ single cell RNA sequencing to assess changes in gene expression at the single cell level is one of the most recent technological advancements (scRNA-Seq).
• Growing Research & Development Investment – According to the most recent data, cancer research had reached one of its most productive and efficient peaks, with a flood of targeted medicines and licensed immunotherapies in various cancers in 2019.

Challenges

• Expensive methods for treating neuroendocrine tumors - The rising frequency of neuroendocrine cancer might raise the average yearly health-care expenditure of managing a patient, which is one of the major factors predicted to slow down the neuroendocrine tumor treatment market growth. For instance, NET patients may develop functional syndromes such as carcinoid syndrome, which can have a major impact on quality of life and economic output.
• Treatment-related side effects
• Lack of knowledge among people