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What key factors are powering the surge in the carcinoid tumor market right now?

In recent times, there has been a swift escalation in the carcinoid tumor market size. It’s expected to increase from $1.61 billion in 2024, achieving $1.78 billion in 2025 with a compound annual growth rate (CAGR) of 10.7%. The historic growth is due to an uptick in the occurrence of neuroendocrine tumors, enhanced recognition of rare cancers, advancements in healthcare structure, accessibility of precise therapy options, and the widening scope of clinical trials for alternative treatment methods.

How fast Is the carcinoid tumor market expected to grow, and what’s its future value?

The expected market size of carcinoid tumors is predicted to experience a significant upsurge within the next couple of years. By 2029, it’s anticipated to be valued at $2.65 billion, with an impressive compound annual growth rate (CAGR) of 10.5%. The prospective expansion during this period is linked to the increasing need for personalized medicine, a more intensive focus on early detection and diagnosis, a growing preference for minimally invasive surgical procedures, extensive research into new treatments, and the escalating utilization of molecular targeted therapies. Upcoming trends for this forecasted period embrace the incorporation of AI and machine learning into diagnostics, a move towards combination therapies, spreading implementation of telemedicine and remote monitoring, patient-oriented care, and collective research efforts.

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What are the leading drivers of growth in the carcinoid tumor market?

The escalating rates of obesity are anticipated to fuel the expansion of the carcinoid tumor market. An obese population consists of individuals with a body mass index (BMI) of 30 or more, signifying an excessive amount of body fat. The rise in obesity is linked to elements such as poor eating choices, physical inactivity, stationary lifestyles, and a higher intake of processed foods enriched with high calories. Obesity plays a part in the progression of carcinoid tumors by inducing chronic inflammation, insulin resistance, and an elevated production of growth factors that facilitate tumor development. For example, the Centers for Disease Control and Prevention, a government agency in the US, reported in September 2023 that the adult obesity rate in 22 states exceeded 35% in 2022, an increase from 19 states in 2021. Consequently, the burgeoning obese population is stimulating the growth of the carcinoid tumor market.

What are the key segments defining the carcinoid tumor market?

The carcinoid tumor market covered in this report is segmented –

1) By Disease Type: Gastrointestinal Neuroendocrine Tumor, Pancreatic Neuroendocrine Tumor, Lung Neuroendocrine Tumor, Other Disease Types

2) By Treatment: Octreotide, Lanreotide, Telotristat ethyl, Capecitabine (Xeloda), 5-Fluorouracil (5-FU), Doxorubicin (Adriamycin), Etoposide (VP-16), Dacarbazine (DTIC), Streptozocin, Other Treatments

3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration

4) By Distribution Channel: Online Channel, Offline Channel

5) By End User: Hospital And Clinics, Academic Institutions, Research Organizations

Subsegments:

1) By Gastrointestinal Neuroendocrine Tumor: Small Bowel Neuroendocrine Tumors, Colorectal Neuroendocrine Tumors, Appendiceal Neuroendocrine Tumors

2) By Pancreatic Neuroendocrine Tumor: Insulinoma, Non-insulinoma, Glucagonoma

3) By Lung Neuroendocrine Tumor: Typical Carcinoid Tumors, Atypical Carcinoid Tumors

4) By Other Disease Types: Thymic Neuroendocrine Tumors, Ovarian Neuroendocrine Tumors

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Who are the key players steering the development of the carcinoid tumor market?

Major companies operating in the carcinoid tumor market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Sanofi S.A., Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Eli Lilly and Company, Siemens Healthineers AG, Boston Scientific Corporation, Boehringer Ingelheim International GmbH, Catalent Inc, Ipsen S.A., Exelixis Inc, Novocure Limited, Hutchison MediPharma Limited (A subsidiary of HUTCHMED), Tarveda Therapeutics Inc., Lexicon Pharmaceuticals Inc., Dauntless Pharmaceuticals Inc.

What emerging trends are influencing the growth of the carcinoid tumor market?

Major players in the carcinoid tumor market are striving to bring in advancements in diagnosis technologies, such as the cutting-edge fully automated chromogranin A test, for refining early detection and improving the aftermath of treatments. The automated chromogranin A (CgA) test is a high-tech tool specifically designed to assess the chromogranin A levels, a typical biomarker frequently linked with neuroendocrine tumors, including carcinoid ones. Take for example, Thermo Fisher Scientific Inc., an American Biotech research organization, that earned FDA approval in October 2023 for its Thermo Scientific B·R·A·H·M·S CgA II KRYPTOR immunoassay. This stands out as the first Chromogranin A (CgA) test to have gained FDA approval and the only automated immunoassay present globally to track tumor evolution in patients with Gastroenteropancreatic neuroendocrine tumors (GEP-NET). Intended to quantify the CgA levels in the human system, the test allows labs and cancer centers to monitor tumor development and evaluate the efficiency of treatments. By substituting manually developed lab tests, it enhances the productivity of labs and provides more accurate result interpretation. The test operates using the Thermo Scientific B·R·A·H·M·S KRYPTOR compact PLUS random-access immunoassay analyser that employs TRACE technology to offer accurate results in less than 30 minutes.

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Which regions are most influential in expanding the carcinoid tumor market?

North America was the largest region in the carcinoid tumor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carcinoid tumor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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