Overview and Scope
Pheochromocytoma is a rare tumor that forms in the center of one or both adrenal glands. These tumors arise from the adrenal medulla cells, which are responsible for producing hormones such as adrenaline (epinephrine) and noradrenaline (norepinephrine). Pheochromocytomas can lead to excessive secretion of these hormones, causing symptoms like high blood pressure, rapid heartbeat, anxiety and related effects.
Sizing and Forecast
The pheochromocytoma market size has grown steadily in recent years. It will grow from $2.89 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to rise in healthcare expenditure, increased diagnosis and awareness, genetic research, government initiatives.
The pheochromocytoma market size is expected to see steady growth in the next few years. It will grow to $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to demand for combination therapies, investment in pheochromocytoma research and development, demand for minimally invasive pheochromocytoma treatments, high rare disease research initiatives. Major trends in the forecast period include increase in the number of drugs in clinical trials, advancements in diagnosis and treatment options, growing expertise in gene therapy, advancements in medical imaging.
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Segmentation & Regional Insights
The pheochromocytoma market covered in this report is segmented –
1) By Type: Adrenal Pheochromocytoma; Extra-Adrenal Pheochromocytoma
2) By Treatment: Medication; Surgery; Radionuclide Treatment; Other Treatments
3) By Diagnosis: Laboratory Tests; Imaging Tests; Genetic Testing
4) By End Users: Hospitals; Clinics; Research And Academic Institutes; Other End Users
North America was the largest region in the pheochromocytoma market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pheochromocytoma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing incidence rate of tumors is expected to propel the growth of the pheochromocytoma market going forward. Tumors are abnormal growths of cells that can be benign (non-cancerous) or malignant (cancerous). The rising cases of tumors and cancers emphasize the need for growing medical awareness, accurate diagnosis and tailored treatment strategies for managing desmoid pheochromocytoma effectively. For instance, in January 2023, according to the American Cancer Society, a US-based non-profit cancer advocacy organization, the number of cancer cases increased to 1,958,310 in 2023, reflecting a growth of 3.16% from 1,898,160 in 2021. Therefore, the growing incidence rate of tumors will drive the growth of the pheochromocytoma market going forward.
Key Industry Players
Major players in the pheochromocytoma market are Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, Takeda Pharmaceutical Company Limited, Merck KGaA, Baxter International Inc., Teva Pharmaceutical Company Limited, Mylan N.V., Bausch Health Companies Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., Apotex Inc., Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Endo International PLC, Exelixis Inc., Lupin Limited, Lantheus Holdings Inc., Curium Pharma, ANI Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc., WellSpring Pharmaceutical Corporation, HRA Pharma SE.
The pheochromocytoma market report table of contents includes:
1. Executive Summary
2.Pheochromocytoma Market Characteristics
3.Pheochromocytoma Market Trends And Strategies
4.Pheochromocytoma Market analysis
5.Pheochromocytoma Market Size And Growth
6.Pheochromocytoma Segmentation
7. Pheochromocytoma Regional And Country Analysis
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27.Pheochromocytoma Competitive Landscape And Company Profiles
28.Pheochromocytoma Key Mergers And Acquisitions
29.Pheochromocytoma Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- AbbVie Inc.
- Novartis AG
- Sanofi S.A.
- Bristol-Myers Squibb Company
- AstraZeneca PLC
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