Paraganglioma Market Size was valued at USD 3.12 Billion in 2023. The Global Paraganglioma industry is projected to grow from USD 3.64 Billion in 2024 to USD 6.48 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 1.36% during the forecast period (2024 - 2032).
A paraganglioma or glomus tumors is a rare type of cancer occurs in a variety of places in the head and neck. The tumor begins in certain nerve cells that are distributed throughout the body. Paragangliomas affect at any age and over half of the paragangliomas appear in the temporal bone. Similar to other types of cancer, paragangliomas is very difficult to diagnose in early stages as the tumor is often slow growing and noncancerous (benign).
However, it can invade other/ nearby organ and part of the body, and become cancerous and spread distantly. Though a number of diagnostic and therapeutic treatments are available in the market, none of them are that effective for the treatment and diagnostic. According to the research carried out by Florida Hospital System (2014), 1-2 patient in a million develops paragangliomas. According to cancer research the UK in 2012, globally over 14.1 million of new cancer cases were registered.
The treatment for all types of cancer are nearly similar, thus, increasing prevalence of cancer has boosted the development of the new treatments. Increasing number of patients suffering from paragangliomas and continuous advances in the treatment have driven the growth of the market.
Additionally, deteriorating lifestyle due to alcoholism and smoking, increasing healthcare expenditure, and increasing government support for research & development have fuelled the market growth. A number of treatment are available in the market, however, nearly all the treatment show some or other adverse effects on the body. Additionally, high cost of the treatment and side effects of the therapy may slow the growth of the market during the forecasted period.
The global paraganglioma market is segmented on the basis of types, treatment, and end users.
On the basis of types, the market is segmented into caroid paraganglioma, cervical paraganglioma, jugular paraganglioma, secretory paraganglioma, temporal paraganglioma, vagal paraganglioma, and others.
On the basis of the treatment, the market is categorized into therapeutic treatment and diagnostic treatment. The therapeutic treatment is further segmented into surgery, embolization, and radiotherapy. The embolization is further categorized into liquid embolic agents, sclerosing agents, particulate embolic agents, and others. The radiotherapy is sub-segmented into external beam radiation therapy, brachytherapy, and unsealed source radiotherapy. The diagnostic treatments are further segmented into CT scans, MRI, angiography, blood test, and others.
On the basis of the end users, the market is segmented into hospital & clinics, ambulatory care centers, and others.
The Americas account for the major share of the global paraganglioma market owing to the increasing prevalence of paragangliomas, well-developed technology and increasing government support for research & development. Moreover, high healthcare expenditure and changing lifestyle have fuelled the growth of the Americas paraganglioma market. The concentration of major players in this region is likely to support the growth of the market during the forecasted period.
Europe holds the second largest paraganglioma market, which is followed by Asia Pacific. Availability of the funds for research & development and strong government support have driven the market growth. Asia Pacific is the fastest growing paraganglioma market owing to the increasing prevalence of cancer, rapidly developing the economy and increasing government support.
On the other hand, the Middle East & Africa hold the least share of the market due to poor political conditions in Africa and limited availability of funds and availability of medical facilities. The Middle East dominates the Middle East & Africa Paraganglioma market due to the presence of well-developed countries like Kuwait, Qatar, Oman and South Arabia. Whereas, Africa region is expecting a healthy growth due to the presence of huge opportunity for the development of the market.
Some of key the players in the market are:
Intended Audience
| Report Attribute/Metric | Details |
| Market Size 2023 | 3.12 (USD Billion) |
| Market Size 2024 | 3.64 (USD Billion) |
| Market Size 2032 | 6.48 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 1.36 % (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Â Â Forecast Units | Â Â Value (USD Billion) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â Types, treatment, and end users |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â Bristol-Myers Squibb Company (U.S.), GlaxoSmithKline Plc. (U.K.), Bayer AG (Germany), Novartis AG (Switzerland), Spectrum Pharmaceuticals Inc. (U.S.), Amgen, Inc. (U.S.), Eli Lilly and Company (U.S.), AstraZeneca Plc. (U.K.), F. Hoffmann-La Roche Ltd. (Switzerland), Janssen Biotech, Inc. (U.S.), AbbVie Inc. (U.S.), Takeda Pharmaceuticals (Japan), Pfizer, Inc. (U.S.), Sanofi (France), Merck & Co., Inc. (U.S.), Immunomedics (U.S.),and Oncomed Pharmaceuticals (U.S.) |
|   Key Market Opportunities | · Government support for research & development · High healthcare expenditure and changing lifestyle |
| Â Â Key Market Drivers | Â Â Increasing number of patients suffering from paragangliomas and continuous advances in the treatment |
Paraganglioma Market Highlights:
Frequently Asked Questions (FAQ) :
paraganglioma market CAGR would be 1.36% during the forecast period.
paraganglioma market restraint would be its high cost of treatment.
The Americas would take the lead of the paraganglioma market.
The Asia Pacific paraganglioma market would be the fastest-growing one.
The treatment types included in the paraganglioma market report are therapeutic treatment and diagnostic treatment.
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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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