Thermal Energy Storage Market

Neuroendocrine Cancer (NEC) is the largest segment driving the growth of Pituitary Cancer Market

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The global Pituitary Cancer Market is estimated to be valued at US$ 380.7 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Pituitary cancer is a rare tumor that develops in the pituitary gland located at the base of the brain. The tumors are either benign (non-cancerous) or malignant (cancerous). Surgery, radiation therapy, chemotherapy, hormone therapy and targeted therapy are used to treat pituitary cancer based on the symptoms, progression and type of tumor.

Market key trends:
Rise in the incidence rate of pituitary cancer across the globe is a key trend witnessed in the pituitary cancer market. According to a study published in the National Cancer Institute Journal, the worldwide incidence rate of invasive pituitary adenomas is approximately 1 per 1,000,000 persons per year. Risk factors like inherited genetic disorders, mutations and exposure to radiation also contribute to the rising rate of pituitary cancer. In addition, development of targeted therapies for treatment and increasing awareness about early detection and availability of treatment options would drive the market growth over the forecast period.
Market Key Trends:
The key trend witnessed in the pituitary cancer market is the rising prevalence of pituitary adenomas. Pituitary adenomas are noncancerous tumors in the pituitary gland and often grow slowly without causing symptoms for many years. Over time, large pituitary adenomas can press on nearby structures such as the optic chiasm and cause vision problems, hormonal issues, or headaches. According to sources, pituitary adenomas affect nearly 15-20 out of every 100,000 people worldwide. Early detection of pituitary adenomas is critical as it can help treat patients before the tumor grows large and causes other health issues. Increased awareness regarding pituitary tumors and improved diagnostic capabilities are expected to drive the pituitary cancer market.

SWOT Analysis
Strengths: Rising research & development activities for novel drug treatments and increasing government support for cancer drug development.
Weaknesses: Low disease prevalence, making it an orphan disease. Rare cases and lack of awareness about pituitary cancer.
Opportunities: Increasing adoption of targeted drug therapies and favourable reimbursement policies. Untapped emerging markets.
Threats: High costs associated with drug development and sales of branded drugs faces price control policies. Patent expiry of blockbuster drugs.

Key Takeaways
The global Pituitary Cancer Market Growth size was valued at US$ 380.7 Mn in 2023. The market is expected to witness high growth, exhibiting a CAGR of 9.6% over the forecast period due to increasing prevalence of pituitary adenomas.

Regional analysis: North America dominated the global pituitary cancer market in 2023 and is expected to remain the highest revenue generating region during the forecast period. The high prevalence of pituitary tumors, growing healthcare expenditure, and availability of advanced healthcare facilities drive the market in North America.

Key players operating in the pituitary cancer market are Novartis International AG, Pfizer Inc., Merck & Co., Inc., Ipsen Biopharmaceuticals, Inc., Bayer AG, Novo Nordisk A/S, Eli Lilly and Company, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Sanofi SA, AstraZeneca PLC, Eisai Co., Ltd., Janssen Pharmaceuticals, Inc. (Johnson & Johnson).

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it