Global Carcinoid Tumor Market Overview
Carcinoid Tumor Market Size was valued at USD 1.2 Billion in 2022. The carcinoid tumor market industry is projected to grow from USD 1.32 Billion in 2023 to USD 2.947 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.50% during the forecast period (2023 - 2032). Carcinoid tumor growth has been linked to specific genetic mutations, and it contains both nerve and endocrine cells in its composition are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for weight loss supplements is being driven. Among carcinoid tumors, a neuroendocrine tumor is one. An endocrine tumor that also produces hormones is known as a neuroendocrine tumor because it contains both nerve and endocrine cells in its composition. The most common locations for carcinoid tumors are the lungs and the GI (gastrointestinal) tract. Carcinoid tumors can also develop in the ovaries, pancreas, and testicles, among other organs. Neuroendocrine tumors of the carcinoid type can arise in several body organs, but they most frequently do so in the lungs and digestive system. Numerous factors, including genetic mutations and environmental factors, can affect the growth and development of carcinoid tumors. Carcinoid tumor growth has been linked to specific genetic mutations. Mutations are most frequently found in genes that are part of the mTOR pathway, like PTEN and TSC1/TSC2. These mutations can cause unchecked cell division and growth, which can help tumors develop. LOH describes the loss of one copy of a specific gene in a cell. Tumor suppressor genes, which typically aid in controlling cell growth and preventing the development of tumors, can harbor it. Carcinoid tumors have been found to have LOH in tumor suppressor genes such as TP53 and MEN1.
Neuroendocrine cells, specialized cells that release hormones and neurotransmitters, give rise to carcinoid tumors. Specific transcription factors, such as ASCL1 and NEUROD1, control how normal cells differentiate into neuroendocrine cells. These factors can promote neuroendocrine differentiation and aid in the growth of carcinoid tumors if they are dysregulated. Several environmental factors have been linked to the development of carcinoid tumors, though the exact environmental factors are still poorly understood. These include exposure to toxins and chemicals, such as tobacco smoke and industrial chemicals. However, more research is necessary to understand how environmental factors relate to carcinoid tumors fully. Thus, driving the carcinoid tumor market revenue.
The carcinoid tumor market segmentation, based on type, includes lung and gastrointestinal. The lung segment dominated the market. An instance of a neuroendocrine tumor that appears in the lungs is a lung carcinoid tumor, more specifically, a pulmonary carcinoid tumor. Typical carcinoid and atypical carcinoid tumors are the two subtypes they fall under. A tumor-suppressor gene called MEN1 normally aids in controlling cell growth. A subset of lung carcinoid tumors, particularly atypical carcinoids, have been found to harbor mutations in the MEN1 gene. When MEN1 protein function is lost due to these mutations, cells can grow and divide uncontrollably.
Based on the diagnosis, the carcinoid tumor market segmentation includes serology, imaging, and biopsy. The biopsy category generated the most income. The diagnosis and management of carcinoid tumors depend heavily on biopsies. It is necessary to establish a carcinoid tumor's presence, identify its subtype (typical or atypical), and evaluate its histological features, such as the level of differentiation and proliferation rate. Important data from biopsies are used to inform treatment choices and prognostic assessments. A biopsy lets the pathologist look at tissue samples under a microscope and determine whether a carcinoid tumor is present. This is essential because symptoms and imaging results may be similar for other lung or gastrointestinal tract malignancies. Appropriate treatment plans can be started after the diagnosis is confirmed.
Figure 1 Carcinoid Tumor Market, by Diagnosis, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on the end users, the carcinoid tumor market segmentation includes hospitals & clinics, academic institutes, and research organizations. The hospitals & clinics category generated the most income. No particular relationship exists between the administration of treatment for carcinoid tumors in a hospital or clinic and its effectiveness. Carcinoid tumor treatment effectiveness is primarily influenced by the chosen treatment modalities, the level of medical team experience, and the unique characteristics of the patient and tumor. The specific treatment modalities employed, such as surgery, radiation therapy, chemotherapy, targeted therapies, or a combination of these methods, determine how effective the treatment is. The tumor's location, size, stage, grade, and patient-specific aspects all play a role in the selection of treatment modality. Through clinical research and practical experience, the efficacy of each treatment method has been thoroughly established.
Carcinoid Tumor Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American carcinoid tumor market area will dominate this market because of the large number of patients and the developed healthcare sector. Rising healthcare costs and the presence of developed economies in the area also contribute to the market's revenue growth.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 Carcinoid Tumor Market Share By Region 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's carcinoid tumor market accounts for the second-largest market share due to the large patient population, access to funding for research, and government support for development. Further, the German carcinoid tumor market held the largest market share, and the UK carcinoid tumor market was the fastest-growing market in the European region.
The Asia-Pacific Carcinoid Tumor Market is expected to grow at the fastest CAGR from 2023 to 2032. as a result of factors such as rising healthcare costs, greater public awareness of the disease, and rising cancer incidence, which supports the market's revenue expansion. Moreover, China’s carcinoid tumor market held the largest market share, and the Indian carcinoid tumor market was the fastest-growing market in the Asia-Pacific region.
Carcinoid Tumor Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the carcinoid tumor market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the carcinoid tumor industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the carcinoid tumor industry to benefit clients and increase the market sector. In recent years, the carcinoid tumor industry has offered some of the most significant advantages to medicine. Major players in the carcinoid tumor market, including Neurocrine Biosciences, Inc. (U.S.), Fusion IP plc (U.K), Novartis AG (Switzerland), Mitsubishi Chemical Holdings Corporation (Japan), Johnson & Johnson (U.S.), GlaxoSmithKline Plc (U.S.), Cadila Healthcare (India), Sanofi (France), Macleods Pharmaceuticals (India), GlaxoSmithKline Plc. (U.K), Allergan (Ireland), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), AstraZeneca Plc. (U.K), Merck & Co., Inc. (U.S.) and others are attempting to increase market demand by investing in research and development operations.
Novartis AG (Switzerland), They want to reimagine medicine to better and lengthen people's lives. They tackle some of society's most difficult healthcare problems using cutting-edge science and technology. They find and create novel ways to deliver ground-breaking treatments to as many patients as possible. They also want to thank those who contribute time, money, and ideas to the business. Strategic priorities that support these focus areas determine how they will carry out the strategy. Many of these projects are for drugs that have the potential to improve treatment standards for patients all over the world significantly. These projects include new molecular entities, additional indications, and new formulations for marketed products. An overview of a few current projects is given in this table. The Novartis Pipeline data is updated every three months, so kindly take note.
Abbott Laboratories (U.S.) is committed to realizing the promise of human potential in all contexts, facets, and phases of life. They consider that promises to be largely dependent on health. They can accomplish anything when they are in good health. And because of this, they will always strive to support people in achieving their optimal level of health at every stage of their lives. This is how they live out that conviction each day.
Key Companies in the carcinoid tumor market include
Carcinoid Tumor Industry Developments
March 2022 Amgen's goal is to serve patients, which includes ensuring that all of our medications adhere to our strict quality requirements and are consistently shipped to patients worldwide. Amgen regularly invests in its manufacturing capabilities to keep up its industry-leading capabilities and broaden its reach.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.2 Billion |
| Market Size 2023 | USD 1.32 Billion |
| Market Size 2032 | USD 2.947 Billion |
| Compound Annual Growth Rate (CAGR) | 10.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | The site, Treatment, End-User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Neurocrine Biosciences, Inc. (U.S.), Fusion IP plc (U.K), Novartis AG (Switzerland), Mitsubishi Chemical Holdings Corporation (Japan), Johnson & Johnson (U.S.), GlaxoSmithKline Plc (U.S.), Cadila Healthcare (India), Sanofi (France), Macleods Pharmaceuticals (India), GlaxoSmithKline Plc. (U.K), Allergan (Ireland), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), AstraZeneca Plc. (U.K), Merck & Co., Inc. (U.S.) |
| Key Market Opportunities | Carcinoid tumor growth has been linked to specific genetic mutations. |
| Key Market Dynamics | It contains both nerve and endocrine cells in its composition |
Carcinoid Tumor Market Highlights:
Frequently Asked Questions (FAQ) :
The carcinoid tumor market size was valued at USD 1.2 Billion in 2022.
The market is projected to grow at a CAGR of 10.50% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are Neurocrine Biosciences, Inc. (U.S.), Fusion IP plc (U.K), Novartis AG (Switzerland), Mitsubishi Chemical Holdings Corporation (Japan), Johnson & Johnson (U.S.), GlaxoSmithKline Plc (U.S.), Cadila Healthcare (India), Sanofi (France), Macleods Pharmaceuticals (India), GlaxoSmithKline Plc. (U.K), Allergan (Ireland), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), AstraZeneca Plc. (U.K), Merck & Co., Inc. (U.S.).
The lung category dominated the market in 2022.
The biopsy had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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