Pheochromocytoma Global Market Report 2024

The global pheochromocytoma market has grown steadily in recent years. It will grow from $2.89 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to rise in healthcare expenditure, increased diagnosis and awareness, genetic research, government initiatives.

The global pheochromocytoma market is expected to see steady growth in the next few years. It will grow to $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to demand for combination therapies, investment in pheochromocytoma research and development, demand for minimally invasive pheochromocytoma treatments, high rare disease research initiatives. Major trends in the forecast period include increase in the number of drugs in clinical trials, advancements in diagnosis and treatment options, growing expertise in gene therapy, advancements in medical imaging.

The rising incidence of tumors is set to drive the growth of the pheochromocytoma market in the foreseeable future. Tumors, which are abnormal cell growths, can be either benign (non-cancerous) or malignant (cancerous). The escalating cases of tumors and cancers underscore the necessity for heightened medical awareness, precise diagnostics, and tailored treatment strategies to effectively manage pheochromocytoma. For instance, as of January 2023, the American Cancer Society reported an increase in cancer cases to 1,958,310, marking a 3.16% growth from 1,898,160 cases in 2021. Consequently, the surging incidence of tumors is expected to propel the pheochromocytoma market's growth in the coming years.

The future growth of the pheochromocytoma market is expected to be propelled by the increasing incidence of neuroendocrine diseases. Neuroendocrine diseases encompass a group of medical conditions affecting the complex neuroendocrine system, responsible for hormone production and regulation. The growing occurrence of neuroendocrine diseases, including pheochromocytomas, may lead to a heightened demand for specialized diagnostics, treatments, surgical procedures, pharmaceuticals, and patient support services tailored to this particular condition. For instance, data from the American Society of Clinical Oncology (ASCO) in March 2023 suggests that neuroendocrine diseases, such as pheochromocytoma, are estimated to have an annual incidence ranging from 2 to 8 cases per 1 million individuals, with approximately 15% of these cases being cancerous. Moreover, the 5-year relative survival rate for recurrent or metastatic pheochromocytomas is projected to be between 34% and 60%. Therefore, the increasing prevalence of neuroendocrine diseases is poised to be a driving factor for the pheochromocytoma market's growth in the future.

Insufficient awareness about the disease acts as a hindrance to the growth of the pheochromocytoma market during the forecast period. This lack of awareness creates challenges for individuals affected by pheochromocytoma, potentially resulting in delays in diagnosis and limited opportunities for regular screening. For example, as reported by the National Library of Medicine, India has experienced delayed pheochromocytoma diagnoses due to factors like insufficient knowledge, limited diagnostic facilities, and the generic nature of symptoms associated with the condition. As a result, the limited awareness of the disease is impeding the expansion of the pheochromocytoma market.

Prominent companies in the pheochromocytoma market are actively conducting clinical trials to evaluate novel treatment approaches, therapies, and medications for pheochromocytoma. This initiative aims to develop more effective and targeted treatments, ultimately enhancing patient outcomes. For example, in August 2022, Switzerland-based pharmaceutical company Novartis AG initiated Phase 2 of a multicenter open-label study to assess the safety and dosimetry of Lutathera in adolescents aged 12 to under 18 with somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and pheochromocytoma and paragangliomas (PPGL). The study adopts a multicenter, open-label, single-arm approach, including an exploratory PPGL cohort designed to encompass as many adolescents with PPGL as possible.

In May 2021, France-based nuclear medicine company Curium Pharma acquired IASON GmbH for an undisclosed amount. This strategic acquisition extends Curium's presence in Europe and enhances its comprehensive range of critical diagnostic solutions aimed at saving lives. IASON GmbH, headquartered in Austria, specializes in radiopharmaceuticals, particularly positron emission tomography (PET) tracers for diagnosing pheochromocytoma.

Major players in the pheochromocytoma market are Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, Takeda Pharmaceutical Company Limited, Merck KGaA, Baxter International Inc., Teva Pharmaceutical Company Limited, Mylan N.V., Bausch Health Companies Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., Apotex Inc., Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Endo International PLC, Exelixis Inc., Lupin Limited, Lantheus Holdings Inc., Curium Pharma, ANI Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc., WellSpring Pharmaceutical Corporation, HRA Pharma SE.

North America was the largest region in the pheochromocytoma market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pheochromocytoma report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pheochromocytoma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of pheochromocytomas are adrenal pheochromocytomas and extra-adrenal pheochromocytomas. Adrenal pheochromocytoma refers to a specific type of pheochromocytoma that originates in the adrenal glands, which are located on top of the kidneys and can lead to the excessive production of hormones like adrenaline and noradrenaline, causing symptoms such as high blood pressure and a rapid heart rate. The treatment for pheochromocytoma includes medication, surgery, radionuclide treatment and others, as well as laboratory tests, imaging tests and genetic testing, which are integrated for the diagnosis of pheochromocytoma and provided by end users such as hospitals, clinics, research and academic institutes and others.

This report provides pheochromocytoma market statistics, including pheochromocytoma industry global market size, regional shares, competitors with a pheochromocytoma market share, detailed pheochromocytoma market segments, market trends and opportunities and any further data you may need to thrive in the pheochromocytoma industry. This pheochromocytoma market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pheochromocytoma market consists of revenues earned by entities by providing ablation therapy, embolization therapy and targeted therapies. The market value includes the value of related goods sold by the service provider or included within the service offering. The pheochromocytoma market also includes sales of prazosin, terazosin and doxazosin, which are used in providing pheochromocytoma treatment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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