Pheochromocytoma Treatment Market to Flourish Significantly with Novel Treatment Options

 

Pheochromocytoma is a rare neuroendocrine tumor that affects the chromaffin cells of the adrenal medulla or extra-adrenal paraganglia. It can cause high blood pressure and other symptoms due to increased production of the stress hormones epinephrine and norepinephrine. The conventional treatment for pheochromocytoma includes surgical resection of the tumor along with preoperative preparation to manage blood pressure spikes during surgery. However, the recent development of novel targeted therapies such as radiolabeled MIBG therapy and tyrosine kinase inhibitors has provided more treatment options for advanced and metastatic pheochromocytoma.

The global Pheochromocytoma Treatment Market is estimated to be valued at US$ 112 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2032.

Key Takeaways

Key players operating in the pheochromocytoma treatment market are Pfizer Inc., Bausch Health Companies Inc., Progenics Pharmaceuticals Inc., Blue Earth Diagnostics Ltd., Baxter International Inc. Pheochromocytoma treatment market is witnessing high growth due to rising incidence of the disease. According to estimates, pheochromocytoma affects approximately 1 in 50,000 people annually. Technological advancements in diagnostic methods such as fluorodeoxyglucose positron emission tomography/ computed tomography (FDG PET/CT) and functional magnetic resonance imaging (MRI) have improved detection of pheochromocytoma tumors.

Market Trends

Growing adoption of targeted therapies - Targeted therapies such as radiolabeled MIBG therapy and tyrosine kinase inhibitors offer better efficacy and tolerability than conventional chemotherapy for advanced pheochromocytoma. Increasing focus on radiolabeled MIBG therapy - Radiolabeled MIBG therapy involves injecting metaiodobenzylguanidine (MIBG) tagged with iodine-131 isotope into the bloodstream. It helps in selective delivery of radiation directly to pheochromocytoma tumor cells.

Market Opportunities

Combination therapy approach - Combination of targeted drugs with radiolabeled MIBG therapy is being explored to enhance treatment outcomes. Studies show the combination is well-tolerated and effective for advanced pheochromocytoma. Developing oral targeted therapies - Oral targeted drugs offer increased convenience compared to injectable drugs. Development of more potent oral tyrosine kinase inhibitors can improve treatment adherence and compliance.

Impact of COVID-19 on Pheochromocytoma Treatment Market Growth

The COVID-19 pandemic has greatly impacted the growth of the pheochromocytoma treatment market. During the initial phase of the pandemic, most clinics stopped non-emergency procedures and deferred elective surgeries including those for pheochromocytoma tumors. This led to a steep decline in the demand for drugs and therapies used to treat pheochromocytoma. Therapeutic procedures and consultations also moved to telehealth and virtual modes which adversely affected the market.

Post-COVID, the market is witnessing a gradual recovery as healthcare facilities resume normal operations. However, the demand is still lower than the pre-pandemic levels. Supply chain disruptions caused by lockdowns also impacted the availability of medicines and device components used in pheochromocytoma treatment. This led to shortages and price hikes. To counter the impact, companies are exploring new distribution channels and strengthening inventory management.

Moving forward, the focus is on expanding access to therapies through telehealth. Adopting strict safety protocols for in-person care is helping restore patient confidence. Companies are fast-tracking the development of oral drugs and novel targeted therapies to offer more convenient treatment options.

In terms of geography, North America has been the largest market for pheochromocytoma treatment over the past few years in terms of value. This is mainly attributed to the high incidence of pheochromocytoma cases, rising healthcare expenditure, availability of advanced therapies and skilled medical resources in the region.

However, Asia Pacific is poised to emerge as the fastest growing regional market in the coming years. This can be accredited to surging medical tourism, growing healthcare infrastructure, large untapped patient population and initiatives by governments to increase access to modern therapies in developing economies such as India and China.

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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