Pheochromocytoma Market
Number of pages: 100 | Report Format: PDF | Published date: April 20, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
3.5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Treatment, Distribution Channel, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global pheochromocytoma market is expected to register a revenue CAGR of 3.5% during the forecast period from 2023 to 2031.
Pheochromocytoma Market Fundamentals
Pheochromocytomas (PHEOs) and paragangliomas (PGLs) are rare neuroendocrine tumors developed from chromaffin cells. Although they can develop anywhere in the body, the adrenal glands are the predominant site of pheochromocytoma occurrence. Possible pheochromocytoma symptoms are high blood pressure, headaches, and perspiration. The prevalence of pheochromocytoma is thought to be 1 per 300,000 individuals, with an average age of 40. Pheochromocytoma has no known cure, and systemic medications are currently associated with adverse effects that may reduce the quality of life. The pheochromocytoma diagnosis is based on symptoms, biochemical verification, and different imaging procedures. The few available pheochromocytoma treatments primarily focus on symptom management and delaying the disease’s progression. Effective disease management depends on early discovery and ongoing monitoring. The majority of currently available pheochromocytoma treatments are palliative. Surgery has the potential to be curative. However, the likelihood of a curative resection is hampered by tumor dispersion. Cytoreductive methods, radiopharmaceuticals, chemotherapy, radiation, and experimental medicines are other therapeutic options for treating pheochromocytoma. Innovative techniques used in experimental medicines are currently being studied but could provide positive outcomes in the future.
Pheochromocytoma Market Dynamics
The primary factors driving the pheochromocytoma market are the rising incidence of pheochromocytoma in the global population and the growth in research & development initiatives to improve specialized treatments for the condition. The development of specialized pharmaceuticals to treat the ailment is being funded more heavily by major players, accelerating the growth of the pheochromocytoma market revenue. The demand for affordable treatment alternatives impacts the pheochromocytoma market revenue. The rise in rare tumors and improvements in diagnostic technology also contribute to the pheochromocytoma market outlook.
Additionally, the pheochromocytomas market benefits from rising healthcare costs and poor lifestyle choices like drinking and smoking. Moreover, the increasing prevalence of hypertension and obesity contributes to the revenue growth of the pheochromocytoma market. These factors are expected to drive the demand for effective diagnosis and treatment options for pheochromocytoma.
The development of advanced treatments such as gene therapy and immunotherapy has impacted the pheochromocytoma market growth. By offering novel therapeutic choices that are more potent and specific than existing treatments, these developments in surgery-alternative therapy can influence the dynamics of pheochromocytoma. Additionally, targeted therapy can assist in lessening the negative effects of conventional treatments and lowering the likelihood of tumor recurrence.
Drugs with a strong pipeline are factors in the healthy growth of the global pheochromocytoma market. This expansion is expected to continue as pharmaceutical companies spend much on research and development to produce novel medicines that will address unmet medical needs and enhance patient outcomes.
However, pheochromocytomas can be challenging to identify because their symptoms are frequently nonspecific and can resemble those of other diseases. Because some cases may go untreated, the true prevalence of pheochromocytoma may be higher than that which has been documented. Therefore, the lack of proper disease diagnosis is a major retraining factor for pheochromocytoma market growth. The high cost of care and the scarcity of efficient remedies further exacerbate these challenges, making it harder for patients to receive the proper care. To meet the unmet needs of people with pheochromocytoma, there is a need for greater awareness and better diagnostic techniques.
Pheochromocytoma Market Ecosystem
This report provides the global pheochromocytoma market analysis regarding revenue share, market dynamics, regional landscape, and overall competitive positioning of the major market players. The global pheochromocytoma market is analyzed from three perspectives: treatment, distribution channel, and region.
Pheochromocytoma Market by Treatment
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Based on the treatment, the global pheochromocytoma market is segmented into alpha-blockers, beta-blockers, chemotherapy, and others.
Alpha-blockers and beta-blockers segment accounted for the largest revenue share of the global pheochromocytoma market in 2022. These drugs are used as the first-line treatment for patients with pheochromocytomas. Alpha and beta blockers must be administered in combination to regulate blood pressure and avoid an intraoperative hypertensive crisis. In particular, alpha-adrenergic inhibition is necessary to regulate blood pressure and avert a hypertensive crisis. Vasoconstriction is brought on by high catecholamine levels in the blood, which activate alpha receptors on blood vessels. If there is persistent substantial tachycardia following alpha blockage, beta blockers are utilized as the second-line therapeutics for pheochromocytoma treatment. However, because unopposed alpha-adrenergic receptor stimulation can produce a hypertensive crisis, beta blockers are not given until enough alpha blockage has been established. The most common choice is a non-cardio-selective beta blocker like propranolol (Inderal) or nadolol (Corgard). At the same time, cardio-selective beta blockers like atenolol (Tenormin) and metoprolol (Lopressor) are also an option.
The other segment includes the newly developed immunotherapy, which is expected to account for a faster revenue CAGR in the forecast of global pheochromocytoma. Following the application of current immunotherapies, unique immune system modifying strategies are being presented to strengthen the immunological microenvironment in pheochromocytoma. Checkpoint inhibitors, CAR-T cell therapy, and cancer vaccines are some strategies emerging as alternative treatments for pheochromocytoma. Various treatments can potentially enhance outcomes for patients with various malignancies and have demonstrated promising results in clinical trials.
Pheochromocytoma Market by Distribution Channel
Based on the distribution channel, the global pheochromocytoma market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the largest revenue share of the global pheochromocytoma market in 2022. Hospital pharmacies are crucial players in the pheochromocytoma industry because they supply the drugs needed to treat this illness. Calcium channel blockers, beta-blockers, and alpha-adrenergic receptor blockers are often prescribed medications for treating pheochromocytoma. Hospital pharmacies are the only places to get these drugs and chemotherapy as they are not sold in stores or online. Hospital pharmacists collaborate closely with doctors and other healthcare professionals to guarantee that patients receive the right drug at the right dose. Many medications used to treat pheochromocytoma can interfere with other medications the patient may be taking. They are also in charge of monitoring for negative side effects and drug interactions in patients. For the creation and execution of cancer treatment programs, governments finance hospitals and pharmacies. The funding provided can be used to buy the drugs required to treat pheochromocytoma. The administration and distribution of pharmaceuticals by hospital pharmacies may be subject to rules and regulations set by the government. Governments can attempt to increase patient access to cancer treatments by bargaining with pharmaceutical corporations over costs, defraying the cost of prescription drugs, or implementing programs to give low-income patients access to drugs.
Pheochromocytoma Market by Region
Based on the region, the global pheochromocytoma market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global pheochromocytoma market in 2022. The region’s availability of sophisticated and innovative therapies and the growing public awareness of the malignant effects of tumors are major pheochromocytoma market revenue drivers in these regions. Additionally, rising public and private sector investments in cancer research and the creation of novel treatments are fostering market revenue expansion in North America. Additionally, the aging population and increased cancer prevalence in these areas are expected to increase the demand for cancer therapies. According to the National Cancer Institute, in the United States, pheochromocytoma affects between 0.2 and 0.8 people per 100,000 people and annually reported cases range from 500 to 1600.
On the other hand, Europe accounted for the second largest revenue share in terms of the pheochromocytoma market during the forecast period. Due to the high prevalence of pheochromocytoma, a robust healthcare system and well-established regulatory frameworks assist the discovery and commercialization of novel therapies. Furthermore, top research institutes and academic institutions in Europe offer a favorable environment for developing novel therapeutics and innovations in pheochromocytoma treatment.
Pheochromocytoma Market Competitive Landscape
By introducing new drugs, enhancing current therapies, and carrying out clinical trials to evaluate the effectiveness and safety of these treatments, many firms are helping to shape the worldwide pheochromocytoma market. The outcomes of individuals with this rare disease must be improved due to these initiatives. For instance, the drug phenoxybenzamine (brand name Dibenzyline), developed by Pfizer, is an alpha-adrenergic receptor blocker used to manage hypertension in patients with pheochromocytoma contributed a remarkable invention. Also, In 2021, the U.S. Food and Drug Administration (FDA) approved Lenvatinib, manufactured by Eisai Co., Ltd., for first-line treatment of adult patients with advanced renal cell carcinoma, it has also shown promise in the treatment of advanced or metastatic pheochromocytoma or paraganglioma.
Notable participants operating in the global pheochromocytoma market include accounting for the largest revenue share,
Pheochromocytoma Market Strategic Developments
Pheochromocytoma is a type of neuroendocrine tumor that grows from chromaffin cells.
The increased prevalence of pheochromocytoma and the presence of robust pipeline drugs are the key factors driving the revenue growth of the global pheochromocytoma market.
The high cost and lack of availability are restraining the revenue growth of the global pheochromocytoma market.
Key companies operating the global pheochromocytoma market are Pfizer Inc., Teva Pharmaceutical Industries Ltd., Zydus Cadila, Curium Pharma, and Jubilant Cadista Pharmaceuticals.
The global pheochromocytoma market is expected to register a revenue CAGR of 3.5% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain
List of Tables