Pheochromocytoma Treatment Market Poised to Witness High Growth Owing to Increasing Incidences of Pheochromocytoma
The pheochromocytoma treatment market comprises drugs to treat pheochromocytoma. Pheochromocytoma is a rare tumor that usually forms in the adrenal glands. The tumor causes the glands to produce and release too much of certain hormones, especially epinephrine (adrenaline) and norepinephrine (noradrenaline). Drugs to treat pheochromocytoma include alpha and beta-blockers, calcium channel blockers, chemotherapy drugs, and drugs to prevent severe blood pressure spikes during surgery. These drugs help control hormone levels and reduce tumors.
The global Pheochromocytoma Treatment Market is estimated to be valued at US$ 271.1 billion in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the pheochromocytoma treatment market are Pfizer Inc, Zydus Cadila, Novartis AG, Curium Pharma, and AstraZeneca. Pfizer Inc offers phentolamine mesilate injections to manage blood pressure during tumor removal surgery. Zydus Cadila produces labetalol hydrochloride tablets to lower blood pressure. Novartis AG manufactures diltiazem hydrochloride capsules as calcium channel blockers. Curium Pharma supplies mIBG therapy to help locate and treat tumors. AstraZeneca provides cyclophosphamide and other chemotherapies to shrink tumors.
The key opportunities in the market include increasing awareness of early diagnosis and treatment through screening. Various disease advocacy organizations are educating people about symptoms and encouraging them to get checkups. The global expansion opportunity lies in engaging more healthcare providers in developing nations for training and affordable drug access programs. This will boost market growth in regions with currently low diagnosis rates.
Market Drivers:
The rising incidence of pheochromocytoma owing to certain hereditary disorders is a major market driver. Genetic conditions like Neurofibromatosis type 1, Von Hippel-Lindau disease, and multiple endocrine neoplasia type 2 increase cancer risk. Early diagnosis helps control health issues through long-term drug management.
Market Restrains:
High cost of specialty drugs to treat rare pheochromocytoma poses a significant market restraint. Most insurance plans have poor coverage for such therapies due to the small patient pool. This restricts regular access and compliance to prescribed treatment protocols.
Segment Analysis
The global pheochromocytoma treatment market is segmented based on drug type, distribution channel and region. Based on drug type, the pheochromocytoma treatment market is segmented into alpha and beta blockers, calcium channel blockers, and other drugs. Alpha and beta blockers segment dominates the market owing to its high effectiveness in controlling blood pressure fluctuations caused by pheochromocytoma tumors. The alpha and beta blockers help control blood pressure by blocking certain hormones made by the chromaffin cells in the tumor. Based on distribution channel, the pheochromocytoma treatment market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. Hospital pharmacies dominate the segment due to higher transaction volume of drugs.
Global Analysis
North America dominates the global pheochromocytoma treatment market due to growing awareness about pheochromocytoma, rising healthcare spending, presence of advanced healthcare facilities and key market players. North America is followed by Europe which is expected to witness robust growth during the forecast period. Rising adoption of targeted drug therapies drive the Europe pheochromocytoma treatment market. However, Asia Pacific is expected emerge as the fastest growing region in global pheochromocytoma treatment market thanks to growing importance to rare diseases treatment in emerging economies like India and China, rapidly developing healthcare infrastructure and improving access to healthcare. The key players focus on Asia Pacific region for potential future opportunities. Latin America and Middle East & Africa are at a nascent stage in global pheochromocytoma treatment market.
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What Are The Key Data Covered In This Pheochromocytoma Treatment Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Pheochromocytoma Treatment 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Pheochromocytoma Treatment and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Pheochromocytoma Treatment Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Pheochromocytoma Treatment vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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