Pheochromocytoma Market accounted for a value of USD 2,814.75 Million in 2018 at a CAGR of 3.84%.
Pheochromocytoma is a rare type of hormone-secreting tumor that develops in the adrenal gland. Approximately 5% of all adrenal gland tumors are pheochromocytoma. The tumor is usually benign and hence does not cause cancer in most of the cases. Only 10% of the pheochromocytomas have chances to become cancerous. This adrenal gland tumor secretes the catecholamine hormones that may cause either episodic or persistent high blood pressure. The condition is similar to adrenal paraganglioma. It arises from the chromaffin cells. Approximately 25% to 35% of cases of pheochromocytoma can be due to genetic disruptions or mutations to certain genes. The rising prevalence of pheochromocytoma and increase research and development for the development of specific treatment options for the condition is expected to drive the market growth. The incidence rate of pheochromocytoma is 2 to 8 million people per year worldwide. Moreover, increasing the number of drugs in the clinical trials is also anticipated to fuel the market growth. Cabozantinib, Sunitinib, Lenvatinib, Lutathera and ONC 201 are some of the drugs which are clinical trials for use in the treatment of pheochromocytoma.
An increasing number of drugs in the clinical trials are positively influencing the market growth. These drugs are cabozantinib by Exelixis, Inc., zebra by Progenics Pharmaceuticals, Inc., and Lutathera by Advanced Accelerator Applications, among others.
- Increasing investment by major companies to develop specific treatment options
- High prevalence of pheochromocytoma
- The growing number of clinical trials for drugs to treat pheochromocytoma
- Rapidly changing lifestyle
- Rising healthcare expenditure
- Increasing incidence rate of rare tumors
- Stringent government regulations
- Lack of availability of specific medications
- Lack of awareness related to the disease
By Treatment Type
- Alpha-Blockers: These are used to relax the small arteries and veins, hence improving blood flow and decreasing the blood pressure.
- Beta Blockers: These are used for the reduction of blood pressure. Beta-blockers are administered in combination with alpha-blockers.
- Surgery: Segment that holds the largest market share. In most of the cases, the entire adrenal gland which has pheochromocytoma is removed using a laparoscopic surgery or other minimally invasive surgery techniques. The other adrenal glands have the capability to carry out the normal function.
- Radionuclide Treatment: This treatment combines a type of radioactive iodine with MIBG, a compound that attaches to the adrenal tumor. With this, the radiation therapy reaches to the specific site and kills the cancerous cell. The radionuclide treatment segment is expected to demonstrate the fastest growth owing to its increasing adoption to treat cancer.
- Others: Other treatment options include chemotherapy and other targeted cancer therapies. These are used only if the tumor becomes cancerous.
- Hospitals and Clinics: The largest segment as it is the primary point of care for the treatment of the diseases.
- Research and Academic Institutes: The fastest-growing segment owing to the rising research and development activities for the development of better treatment options for pheochromocytoma.
- Others: Other end-users in the pheochromocytoma market include ambulatory surgical centers and centers for the treatment of cancer.
- Americas: is the largest regional market. The incidence rate of pheochromocytoma is high in the Americas. Every year approximately, 1000 new cases of pheochromocytoma are diagnosed in the US. Moreover, the presence of significant pharmaceutical companies such as Pfizer, Inc., Jubilant Cadista, Mylan N.V., and Exelixis, Inc. is expected to drive the market growth. The rising number of technological advancements in the Americas and the availability of cost-effective treatment options are expected to drive market growth.
- Europe: The pheochromocytoma market in Europe is expected to slowly grow owing to the moderate prevalence of the rare type of tumors including pheochromocytoma in the European region. As of June 2018, 1 in 100,000 people in the UK are diagnosed with pheochromocytoma every year.
- Asia-Pacific: It is the fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people suffering from adrenal gland tumors that includes pheochromocytoma. Moreover, the developing healthcare infrastructure is also expected to drive the market growth.
- Middle East & Africa: The market is expected to show significant growth due to the rising patient population suffering from various types of tumors.
- Pfizer Inc. (US)
- Teva Pharmaceutical Company Limited (Israel)
- Zydus Cadila (India)
- Novartis AG (Switzerland)
- Curium Pharma (UK)
- Jubilant Cadista (US)
- AstraZeneca (UK)
- Mylan N.V. (US)
- Apotex Inc. (Canada)
- Reddy’s Laboratories Ltd (India)
- Lupin (India)
- Glenmark Pharmaceuticals Limited (India)
Frequently Asked Questions (FAQ) :
The valuation of the Pheochromocytoma Market would be USD 2814.75 million.
The CAGR would be 3.84% during the forecast period of 2019-2025.
The surgery segment leads the market.
The hospitals and clinics segment has the charge of the market.
The Americas are leading the regional Pheochromocytoma Market.
This table of content is tentative and subject to change as the research progresses.
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