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The rarity of pheochromocytoma, a rare tumor that originates in the adrenal glands, is a significant factor influencing the market. Limited prevalence leads to unique challenges in terms of diagnosis, treatment, and research, shaping the dynamics of the pheochromocytoma market.
Progressive development of imaging procedures including computed tomography(CT )scans, magnetic resonance imaging (MRI) or positron emission tomography (PET) scans is one of the factors facilitating better pheochromocytoma detection and diagnosis. Advanced imagery facilitates proper spotting and profiling tumors thus impacting the market in a positive manner.
Genetic inheritance of a pheochromocytoma is further driven by MEN and VHL with the phenotype as well as by certain genetic syndromes linked to the adrenal gland. Genetic disposition leads to the need for routine screening programmes hence increased demand for diagnostic tests that relate to pheochromocytoma.
Pheochromocytoma frequently shows hypertensive, palpitation, and sweating owing to similar presentations of symptoms other diseases which potentially restrict its diagnosis. The nature of discovering pheochromocytoma adds to the disorders, postponing the analysis as well as because of this, challenging the specific market, landscape.
With regards to pheochromocytoma, surgical extirpation of the tumor holds the first place in the treatment. The market is driven by the need for surgical interventions which include minimally invasive procedures owing to the fact that patients require effective and efficient interventions that speedily manage the condition and its concomitant symptoms.
Pheochromocytoma management by both endocrinologists and oncologists is essential. The consequent of these combinations yields in strategies for treatment, patient care, and market dynamics that have been intertwined by the skills of these specialties.
Advocacy campaigns and a higher level of awareness of the patients about pheochromocytoma also facilitate the early detection as well as allow for the more effective management of the disease. Patient support groups and awareness campaigns are involved in proactive behavioural investment in the healthcare system, a factor that leads to the market of healthcare-seeking the behaviour.
Healthcare infrastructure with state of the art diagnostic unit has an impact on pheochromocytoma market. Geographical areas that have well-developed healthcare services and easily accessible diagnostic facilities show higher levels of early detection and treatment thereby defining market trend patterns.
The rarity of pheochromocytoma poses challenges in conducting large-scale clinical trials for new treatments. The limited patient pool affects the pace of drug development, and overcoming these challenges is crucial for introducing novel therapeutic options and expanding the market.
Pheochromocytoma Market Highlights:
Pheochromocytoma Market Forecast
The Pheochromocytoma Market is projected to reach USD 3169.47 Million by 2030 at 3.20% CAGR during the forecast period 2022-2030.
Market Synopsis
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.
Market Influencer
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.
Market Drivers
- 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
Market Restraints
- Stringent government regulations
- Lack of availability of specific medications
- Lack of awareness related to the disease
Segmentation
By Treatment Type
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Alpha-Blockers: These are used to relax the small arteries and veins, hence improving blood flow and decreasing the blood pressure.
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Beta Blockers: These are used for the reduction of blood pressure. Beta-blockers are administered in combination with alpha-blockers.
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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.
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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.
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Others: Other treatment options include chemotherapy and other targeted cancer therapies. These are used only if the tumor becomes cancerous.
By End-User
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Hospitals and Clinics: The largest segment as it is the primary point of care for the treatment of the diseases.
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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.
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Others: Other end-users in the pheochromocytoma market include ambulatory surgical centers and centers for the treatment of cancer.
By Region
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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.
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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.
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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.
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Middle East & Africa: The market is expected to show significant growth due to the rising patient population suffering from various types of tumors.
Key Players
- 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)
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