Pituitary Cancer Market Growth Accelerated by Rising Incidences of Neoplasms

 


Pituitary cancer refers to rare neoplasms that develop in the pituitary gland which is located at the base of the brain. Pituitary cancers, also known as pituitary adenomas, are typically benign tumors but some may become cancerous. Over the years, there has been a rise in the incidences of various types of brain and central nervous system cancers including pituitary cancer, mainly due to factors such as changing lifestyle and increased environmental pollution. The global pituitary cancer market is estimated to be valued at US$ 114.5 million in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The rising incidences of neoplasms has been a key driver encouraging the growth of the pituitary cancer market. According to the American Cancer Society, the number of pituitary cancer cases being reported each year is increasing at an alarming rate. Between 2019-2023, nearly 8,000 new cases of pituitary cancer were reported annually representing a CAGR increase of 9% over the past decade. Factors such as obesity, radiation exposure and certain genetic conditions are contributing to the growing prevalence of pituitary cancer. As a result, patients are increasingly seeking effective treatment options thereby prompting pharmaceutical companies to invest in research and development of advanced pituitary cancer drugs to meet the growing clinical demand. This is expected to fuel the market growth over the forecast period.
Segment Analysis
Pituitary cancer can be broadly classified into two main segments - functioning pituitary adenomas and non-functioning pituitary adenomas. The functioning adenomas sub-segment is currently dominating the market as these types of cancers secrete hormones which can be easily diagnosed at an early stage. Early diagnosis ensures timely treatment leading to positive clinical outcomes. Some of the major functioning pituitary adenomas include prolactin-secreting adenomas, ACTH-secreting adenomas, TSH-secreting adenomas, and GH-secreting adenomas. Among these, prolactin-secreting adenomas dominate the functioning pituitary adenomas segment.

Key Takeaways
The global pituitary cancer market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America is currently the dominating region in the global pituitary cancer market. This is attributed to factors such as high prevalence of pituitary adenomas, advanced healthcare infrastructure, presence of sophisticated diagnostic and treatment facilities, and favorable reimbursement policies. Europe holds the second largest market position. However, Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period owing to increasing medical tourism, rapidly developing healthcare sector, and growing awareness about pituitary cancer diagnosis and treatment.

Key players: Key players operating in the pituitary cancer market are Pfizer Inc., F. Hoffmann-La Roche, Antisense Therapeutics, Novartis AG, Teva Pharmaceutical industries Ltd. Pfizer Inc. currently dominates the global pituitary cancer market owing to its wide product portfolio and strong geographical presence across the world.

Comments

Post a Comment

Popular posts from this blog

Neuroendocrine Cancer is the fastest growing segment fueling the growth of Pituitary Cancer Market

Image
The pituitary cancer market comprises of medical treatment options for patients diagnosed with pituitary cancer. Pituitary cancers are rare tumors that start in the pituitary gland which is a pea-sized gland located at the base of the brain.  The global Pituitary Cancer Market is estimated to be valued at US$ 380.7 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.    Market key trends: One of the key trends fueling the growth of the pituitary cancer market is rising preference of targeted drug therapy over conventional chemotherapy. Targeted drug therapies mainly include somatostatin analogs and dopamine agonists which directly act on cancer cells and have less side effects compared to chemotherapy. These targeted drugs are effective in controlling symptoms and slowing tumor growth in patients with hormone secreting pituitary adenomas and carcinomas. The targe...
Read more

Enhancing Patient Care and Comfort: The Evolution of Hospital Beds

Image
  Hospital beds play a crucial role in patient care, providing comfort, safety, and functionality for individuals requiring medical attention. Over the years, advancements in technology and design have revolutionized hospital beds, leading to improved patient outcomes and caregiver efficiency. From basic adjustable beds to sophisticated models equipped with cutting-edge features, the evolution of hospital beds has transformed the healthcare landscape. Evolution of Hospital Beds: Historically, hospital beds were simple in design, primarily consisting of a metal frame with adjustable height and manual controls. However, as medical practices advanced and patient needs became more complex, the demand for more versatile and ergonomic hospital beds grew. In recent decades, significant strides have been made in the development of hospital bed technology. Modern hospital beds are designed with a focus on patient comfort, safety, and mobility. Features such as electronic controls, motorize...
Read more

Dry Eye Disease Market is Estimated to Witness High Growth Owing to Rising Awareness About Disease Management

Image
  Dry eye disease, also known as keratoconjunctivitis sicca, is a multifactorial disease of the ocular surface characterized by lack of sufficient moisture and tear film instability. Common symptoms of dry eye include stingy or burning sensation in eyes and blurred vision.   Market Dynamics : The Dry Eye Disease Market is witnessing high growth owing to rising awareness about disease management and increasing number of people experiencing symptoms of dry eyes. According to the report, increasing usage of electronic devices and prolonged screen time is a major driver fueling the demand for dry eye treatments. Additionally, growing geriatric population worldwide who are more prone to dry eyes is also contributing to the market growth. Availability of various treatment options along with new product launches is further expected to boost the market during forecast period.   Increasing Prevalence of Dry Eye Disease is Driving Market Growth   One of the major market drive...
Read more