During the forecast period 2023 to 2033, the global carcinoid tumor syndrome management industry is expected to grow at a value of 10.9% CAGR, according to Future Market Insights. The global Carcinoid tumor syndrome management market garnered a market value of US$ 1774.38 Million in 2023 and By the year 2033, the global market for Carcinoid tumor syndrome management is expected to rise up to a market valuation of US$ 4993 Million. Growth of the market can be attributed to increasing prevalence of the disease, advancements in diagnosis and treatment, and rising awareness among patients and healthcare professionals.
One of the key drivers of the CTS management market is the advancements in diagnosis and treatment options. Over the past few years, there have been significant advances in the development of diagnostic tools that allow for earlier and more accurate diagnosis of CTS.
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There have also been significant advancements in the development of treatment options for CTS. For example, somatostatin analogues (SSAs) such as octreotide and lanreotide are commonly used to control the symptoms of CTS by inhibiting the release of hormones from carcinoid tumors.
Other treatment options include chemotherapy, targeted therapy, and radiation therapy, depending on the type and stage of the tumor. As new therapies and treatment options continue to emerge, the demand for CTS management is likely to grow.
Key Takeaways from the Market Study:
- The Carcinoid tumor syndrome management market is expected to grow at a value of 10.9% CAGR for the forecast period 2023-2033
- Oral route of administration is expected to hold 55% of the market share in 2023 for Carcinoid tumor syndrome management market.
- North America is expected to possess 44% market share for Carcinoid tumor syndrome management market in 2023.
- Europe Carcinoid tumor syndrome management market size is expected to possess 37% market share in 2023.
“The rising awareness among patients and healthcare professionals is also contributing to the growth of the CTS management market. As patients become more informed about their condition and the available treatment options, they are more likely to seek out effective management options.” states an FMI analyst
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Competitive Landscape:
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
- Mylan markets a somatostatin analog called Octreotide (brand name Sandostatin®), which is indicated for the treatment of symptoms associated with functional gastroenteropancreatic neuroendocrine tumors, including carcinoid syndrome.
- 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.
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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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