Carcinoid Tumor Syndrome Management Market

Carcinoid Tumor Syndrome Management Market Snapshot (2023 to 2033)

The global Carcinoid tumor syndrome management market garnered a market value of USD 1774.38 Million in 2023 and is expected to accumulate a market value of USD 4993 Million by registering a CAGR of 10.9% in the forecast period 2023 to 2033.

Growth of the Carcinoid tumor syndrome management market can be attributed to increasing prevalence of the ailment along with availability of different treatments. The market for Carcinoid tumor syndrome management registered a CAGR of 7.3% in the historical period 2016 to 2021

Carcinoid tumor syndrome is a rare condition caused by a type of tumor called a carcinoid tumor. Carcinoid tumors are usually found in the gastrointestinal tract, but can also occur in other parts of the body such as the lungs and ovaries. These tumors produce hormones and chemicals, including serotonin, that can cause a variety of symptoms in affected individuals. Symptoms can include flushing of the skin, diarrhea, wheezing, abdominal pain, and heart palpitations.

Report Attribute	Details
Expected Market Value (2023)	USD 1774.38 Million
Anticipated Forecast Value (2033)	USD 4993 Million
Projected Growth Rate (2023 to 2033)	10.9% CAGR

2018 to 2022 Carcinoid Tumor Syndrome Management Market Demand Analysis vs. Forecast 2023 to 2033

According to market research and competitive intelligence provider Future Market Insights- the market for Carcinoid tumor syndrome management reflected a value of 7.3% during the historical period, 2018 to 2022.

Factors driving the growth of the CTS management market include increasing awareness of the disease, rising incidence of neuroendocrine tumors, and the development of new treatment options. However, the high cost of treatment and limited availability of therapies in some regions may hinder market growth. The management of CTS typically involves treating the symptoms and controlling tumor growth.

Thus, the market for Carcinoid tumor syndrome management is expected to register a CAGR of 10.9% in the forecast period 2023 to 2033.

Which are Some Prominent Drivers of Carcinoid Tumor Syndrome Management Market?

Increasing investment in research and development activities bosting market growth of Carcinoid tumor syndrome management market

The incidence of carcinoid tumor syndrome is increasing, which is leading to the growth of the market. According to the National Organization for Rare Disorders, carcinoid tumors affect around 5 in every 100,000 people worldwide. Advancements in diagnostic techniques such as CT scans, MRI, and PET scans have improved the detection of carcinoid tumors, enabling early diagnosis and treatment. In addition, there has been a significant development in treatment options such as surgery, radiation therapy, and chemotherapy, leading to better management of the disease.

Increased awareness among patients and healthcare providers about the disease is driving the demand for better management options. This is leading to the development of new and innovative therapies for the treatment of carcinoid tumor syndrome. Governments are taking initiatives to promote research and development in the field of carcinoid tumor syndrome. The Orphan Drug Act, passed in the United States in 1983, offers financial incentives to companies that develop drugs for rare diseases like carcinoid tumor syndrome.

The market is also driven by increasing investment in research and development activities for the development of new drugs and therapies for the treatment of carcinoid tumor syndrome. Pharmaceutical companies are investing heavily in the development of novel therapies that target specific signaling pathways involved in the progression of the disease.

Overall, the increasing prevalence of carcinoid tumor syndrome, advancements in diagnosis and treatment, growing awareness, government initiatives, and increasing investment in research and development activities are the major drivers of the Carcinoid Tumor Syndrome Management market.

Availability of different treatments shaping landscape for Carcinoid tumor syndrome management market

Surgery: Surgical removal of the tumor is the primary treatment for carcinoid tumors. Surgery is typically recommended for patients with localized tumors that have not spread to other organs.

Medications: Medications can be used to control the symptoms of carcinoid tumor syndrome. These include

• Octreotide: A synthetic hormone that blocks the release of the chemicals produced by the tumor and reduces symptoms.
• Telotristat ethyl: A medication that reduces the production of serotonin, a chemical that is often overproduced by carcinoid tumors.

Radiation Therapy: Radiation therapy may be used to shrink the size of the tumor, reduce symptoms, and prevent the tumor from spreading to other parts of the body.

Chemotherapy: Chemotherapy may be recommended for more advanced or aggressive tumors that have spread to other organs.

Supportive Care: Supportive care includes managing symptoms such as diarrhea, flushing, and heart palpitations. Patients with carcinoid tumor syndrome should also receive regular check-ups to monitor the tumor's growth and manage symptoms as they arise.

Overall, the management of carcinoid tumor syndrome depends on the size and location of the tumor, as well as the severity of the symptoms. A multidisciplinary team, including medical oncologists, surgeons, and endocrinologists, provide the best care and management for patients with carcinoid tumor syndrome.

What are the Challenges Faced by the Carcinoid Tumor Syndrome Management Market?

Expensive nature of treatment along with resistance building towards the ailment affecting market growth

CTS is a rare disease, and many healthcare professionals may not be familiar with its symptoms and proper diagnosis. As a result, patients may be misdiagnosed, leading to delays in treatment and potentially worsening outcomes. The management of CTS can be costly, as it often involves the use of specialized medications such as somatostatin analogs and targeted therapies. Patients may struggle to afford these treatments, and insurers may not cover all the costs.

Some of the specialized medications used in CTS management are not widely available in all regions. This can lead to delays in treatment, as patients may need to travel to receive care. Some of the medications used in CTS management can cause adverse side effects, which may limit their effectiveness or lead to the need for additional treatments.

Some CTS tumors may become resistant to certain treatments over time, making it more difficult to manage the disease and potentially limiting treatment options.

Region-Wise Insights

Increasing Incidence of Neuroendocrine Tumors Bolstering Market Growth of Carcinoid Tumor Management Market in North America?

Availability of treatment options creating lucrative opportunities for carcinoid tumor management market

The North American Carcinoid Tumor Syndrome (CTS) management market is a significant market in the healthcare industry. The region consists of the United States and Canada, where the prevalence of neuroendocrine tumors, including carcinoid tumors, is increasing. According to a report by the American Cancer Society, approximately 12,000 cases of carcinoid tumors are diagnosed in the United States each year.

The CTS management market in North America is primarily driven by factors such as the increasing incidence of neuroendocrine tumors, rising awareness of the disease, and the availability of advanced treatment options. North America has a well-established healthcare infrastructure and regulatory framework, which has enabled the development and commercialization of new treatments for CTS management.

The market comprises various treatment options, including somatostatin analogs, chemotherapy, and targeted therapies. The somatostatin analogs segment dominates the market due to their efficacy in controlling the symptoms of CTS. Other emerging treatment options, such as peptide receptor radionuclide therapy (PRRT), are also gaining traction in the North American market. Thus, North America is expected to possess 44% market share for carcinoid tumor syndrome management market in 2023.

Presence of Targeted Therapies Spurring Growth of Carcinoid Tumor Management Market in Europe?

Well-established healthcare infrastructure increasing dependency on hospitals for treatment of carcinoid tumor management market

The Europe Carcinoid Tumor Syndrome (CTS) management market remains an important market in the healthcare industry. The region consists of countries such as Germany, France, Italy, Spain, and the United Kingdom, where the prevalence of neuroendocrine tumors, including carcinoid tumors, continues to increase.

The CTS management market in Europe is primarily driven by factors such as the increasing incidence of neuroendocrine tumors, rising awareness of the disease, and the availability of advanced treatment options. Europe also has a well-established healthcare infrastructure and regulatory framework, which has facilitated the development and commercialization of new treatments for CTS management.

The market comprises various treatment options, including somatostatin analogs, chemotherapy, and targeted therapies. The somatostatin analogs segment continues to dominate the market due to their efficacy in controlling the symptoms of CTS. Other emerging treatment options, such as peptide receptor radionuclide therapy (PRRT) and immunotherapy, are also gaining traction in the European market.

In addition, the European Union has implemented regulations such as the Orphan Medicinal Products Regulation and the Priority Medicines (PRIME) scheme to incentivize the development of treatments for rare diseases such as CTS. These regulations may help to drive innovation in CTS management and improve access to treatments for patients in Europe. Overall, the Europe CTS management market is expected to continue to grow in the coming years as the prevalence of the disease increases and new treatment options become available. Thus, Europe is expected to possess 37% market share for carcinoid tumor management market in 2023.

Category-Wise Insights

Convenience of Consuming Medications Orally Increasing Dependency on Oral Route of Administration?

Sustained effects of orally consumed medications making them popular

The oral route of administration is one of the most commonly used methods for the management of CTS symptoms. This is because many of the medications used to control the symptoms of CTS, such as somatostatin analogs like octreotide and lanreotide, are available in oral formulations.

Oral medications are generally easy to take and are convenient for patients to self-administer. They also provide a sustained effect and can be used to maintain symptom control over an extended period of time. Thus, oral route of administration is expected to possess 55% market share for carcinoid tumor management market in 2023.

Market Competition

Key players in the Carcinoid tumor syndrome management are Novartis AG, Teva Pharmaceutical Industries Ltd, Mylan N.V., Ipsen Biopharmaceuticals, Inc, Sun Pharmaceutical Industries Ltd, Amgen Inc., Entrinsic Health Solutions, Inc., Endo Pharmaceuticals Inc., Sirtex SIR-Spheres Pty Ltd, BTG International Ltd

• Novartis for CTS management is Sandostatin® (octreotide acetate), a somatostatin analog that is widely used to control the symptoms of CTS. Sandostatin® works by inhibiting the secretion of hormones that are responsible for causing the symptoms of CTS, such as diarrhea, flushing, and wheezing. Novartis also developed a long-acting version of Sandostatin®, called Sandostatin LAR®, which is administered by injection and provides sustained symptom control for up to four weeks.
• Teva markets a somatostatin analog called Lanreotide (brand name Somatuline®), which is indicated for the treatment of symptoms associated with functional gastroenteropancreatic neuroendocrine tumors, including carcinoid syndrome.
• Ipsen markets a somatostatin analog called Lanreotide (brand name Somatuline®), which is indicated for the treatment of symptoms associated with functional gastroenteropancreatic neuroendocrine tumors, including carcinoid syndrome.

Report Scope

Report Attribute	Details
Market Value in 2023	USD 1774.38 Million
Market Value in 2033	USD 4993 Million
Growth Rate	CAGR of 10.9% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD Million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Organ Affected, Therapy Type, Drug, Route of Administration, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, United kingdom, France, Spain, Italy, Rest of Europe, India, Malaysia, Singapore, Thailand, Rest of South Asia, China, Japan, South Korea, Austria, New Zealand, GCC countries, South Africa, Israel, Rest of MEA
Key Companies Profiled	Novartis AG; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Ipsen Biopharmaceuticals, Inc; Sun Pharmaceutical Industries Ltd; Amgen Inc.; Entrinsic Health Solutions, Inc.; Endo Pharmaceuticals Inc.; Sirtex SIR-Spheres Pty Ltd; BTG International Ltd
Customization	Available Upon Request

Key Segments Profiled in the Carcinoid Tumor Syndrome Management Market Survey

Organ Affected:

• Small Intestine
• Lungs
• Rectum
• Appendix
• Stomach
• Liver
• Others

Therapy Type:

• Chemotherapy
• Biological Therapy
• Radio Therapy

Drug:

• Octreotide
• Telotristat Etiprate
• Lanreotide

Route of Administration:

• Oral
• Injectable

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

Frequently Asked Questions

What was the Historical Performance of the Carcinoid Tumor Syndrome Management Market?

The market advanced at a CAGR of 7.3% from 2018 to 2022.

What Factors Create Demand in the Carcinoid Tumor Syndrome Management Market?

Increasing investment in research and development activities and Increased awareness among patients and healthcare providers about the disease creates demand.

What drives the Sales of Carcinoid Tumor Syndrome Management in North America?

Increasing incidence of neuroendocrine tumors, rising awareness of the disease, and the availability of advanced treatment options drive the market.

Who are the Key Players of

Key players in Carcinoid tumor syndrome management are Novartis AG, Teva Pharmaceutical Industries Ltd, Mylan N.V., and Ipsen Biopharmaceuticals, Inc.

What Drives Sales in the Europe Carcinoid Tumor Syndrome Management Market?

Targeted Therapies and Well-established healthcare infrastructure lead to market demand in Europe.