Pituitary cancer is a rare form of tumor that develops in the pituitary gland located at the base of the brain. Pituitary cancer tumors are either noncancerous (benign) or cancerous (malignant). The pituitary gland plays a key role in regulating important body functions such as growth, reproduction, blood pressure, and thyroid & adrenal hormone production. Rising cases of pituitary disorders such as Cushing’s disease, acromegaly and Nelson’s syndrome have been boosting the demand for pituitary cancer diagnostics and treatment.
The global Pituitary Cancer Market is estimated to be valued at US$ 81 million in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of pituitary disorders is one of the major drivers of the pituitary cancer market. According to estimates, the annual incidence of various types of pituitary adenomas ranges between 10 to 27 cases per million for non-functioning pituitary adenomas and 60 to 100 cases per million for prolactinomas. Increasing awareness about early diagnosis and availability of innovative treatment options such as drug therapy, surgery, and radiotherapy are providing relief to patients and reducing mortality, thereby fueling the growth of the pituitary cancer market during the forecast period.
SWOT Analysis
Strength: Pituitary cancer diagnosis techniques are advancing which enables early detection and treatment. Advances in radiation therapies and surgeries are improving treatment outcomes.
Weakness: Pituitary cancer is a rare form of cancer with prevalence of only 1 in 1 million people. Limited research leads to lack of awareness and knowledge about the disease.
Opportunity: Government and private funding for rare cancer research is increasing. Developing regions with large population offer significant market potential.
Threats: High cost of care poses financial burden on patients. Side effects of medical interventions may impact quality of life.
Key Takeaways
The global pituitary cancer market is expected to witness high growth.
Regional analysis: The North American region currently dominates the pituitary cancer market owing to availability of advanced healthcare facilities and high adoption rates of newer pituitary cancer diagnostics and treatment options. Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising patient pool, increasing healthcare spending, and improving healthcare infrastructure.
Key players operating in the pituitary cancer market are Pfizer Inc, F. Hoffmann-La Roche Ltd., Valeant Pharmaceuticals International, Inc., Mylan N.V., and Amgen, Inc. These players are focused on developing advanced therapeutics and partnering with hospitals & research institutes to increase clinical trials and raise awareness.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
