Pheochromocytoma Treatment Market is Anticipated to Witness High Growth Owing to Rising Incidence of Pheochromocytoma
Pheochromocytoma is a rare tumor that develops in the adrenal glands that serve as the body's main control center for blood pressure and heart rate regulation. It secretes high levels of hormones like catecholamine that can lead to dangerous spikes in blood pressure. Treatment of pheochromocytoma comprises surgical removal of the tumor using laparoscopic or open adrenalectomy along with preoperative medical management with alpha- and beta-blockers.
The global Pheochromocytoma Treatment Market is estimated to be valued at US$ 89 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 To 2028.
Key Takeaways
Key players operating in the pheochromocytoma treatment market are Pfizer Inc., Clinigen Group plc, Progenics Pharmaceuticals, Inc., COMETRIQ, and IPSEN.
Key opportunities in the market include a rise in genetic testing aiding early diagnosis, increasing healthcare expenditure in developing nations, and promising late-stage drug pipeline.
Global expansion in the market is driven by collaborations between regional players and large pharmaceutical companies for contract manufacturing and distribution. The US and Europe dominate the market currently due to high awareness and diagnosis rates. However, Asia Pacific is expected to witness lucrative growth owing to growing medical tourism in countries like India.
Market Drivers
Rising incidence of pheochromocytoma due to increasing genetic testing is anticipated to drive the market. It is estimated that 10% of pheochromocytoma cases are hereditary in nature. Growing genetic testing resources allow for early detection and treatment of hereditary tumor conditions.
Market Restrain
Lack of standardized treatment guidelines for pheochromocytoma limits the adoption of new drugs and treatment approaches globally. Treatment protocols vary significantly between regions and hospitals depending on available resources and expertise. This creates uncertainty among physicians and patients.
Segment Analysis
The pheochromocytoma treatment market can be segmented based on treatment type. The surgery segment dominates the market as surgical removal of the tumor is the main treatment recommended for pheochromocytoma. Different types of surgeries are performed depending on the size and location of the tumor which include laparoscopic adrenalectomy, open adrenalectomy, and partial adrenalectomy. Surgery provides a definitive treatment for pheochromocytoma with the aim of complete removal of the tumor. Adjunctive therapies like drugs are also used before or after surgery to control blood pressure and reduce risks during the surgical procedure. Medications mainly include alpha-blockers, beta-blockers and vasodilators. Radiation therapy and chemotherapy have limited applications in advanced cases.
Global Analysis
Regionally, North America holds the largest share in the pheochromocytoma treatment market owing to increasing healthcare expenditure and advanced healthcare facilities in the region. The market in Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising awareness about rare diseases, growing healthcare infrastructure and expanding patient pool. Countries like China and India are likely to offer significant growth opportunities for market players. In terms of future outlook, development of novel targeted therapies and combination treatment approaches areexpected to positively impact market growth globally. Novel medications such as cabozantinib are being evaluated for treatment resistance and advanced stages of pheochromocytoma with potential to enhance current treatment landscape.
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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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