Market Highlights
The global pheochromocytoma market is growing owing to the increasing investment by major companies to develop specific treatment options, high prevalence of pheochromocytoma, and an increasing number of clinical trials for drugs for pheochromocytoma. Furthermore, the rapidly changing lifestyle, rising healthcare expenditure, and increasing incidence rate of rare tumors are also expected to fuel the market growth. However, the stringent government regulations, lack of availability of specific drugs and lack of awareness regarding the disease are expected to restrain the growth of the global pheochromocytoma market.
According to MRFR analysis, Pheochromocytoma Market is expected to register a CAGR of 3.84% during the forecast period of 2019 to 2025. The global market was valued at USD 2,814.75 Million in 2018.
Pheochromocytoma is a catecholamine-secreting rare type of adrenal gland tumor. In this condition, the adrenal gland produces excess amounts of norepinephrine and epinephrine hormones, hence elevating the blood pressure and heart rate.
Several market players currently dominate the global pheochromocytoma market. The key players are involved in product launches and acquisitions to strengthen their market positions.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The Americas is expected to be the largest market owing to the increasing prevalence of pheochromocytoma. The pheochromocytoma market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European pheochromocytoma market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The pheochromocytoma market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool suffering from rare tumors, the market in Asia-Pacific is expected to be the fastest-growing. The pheochromocytoma market in the Middle East Africa has been divided into the Middle East and Africa.
Segmentation
The Global Pheochromocytoma Market has been segmented based on treatment type and end-user.
The global pheochromocytoma market has been segmented, on the basis of treatment type, into alpha-blockers, beta-blockers, surgery, radionuclide treatment, and others. The surgery segment is expected to hold the largest market share as it is the most preferred treatment option for pheochromocytoma. The radionuclide treatment is expected to grow at the fastest CAGR owing to an increasing number of applications of radiopharmaceuticals in the treatment of various diseases.
The market based on end-user has been segmented into hospitals clinics, research academic institutes, and others. Hospitals and clinics are the first point of treatment for any disease; hence it is expected to hold the largest market share. Research academic institutes are expected to grow at the fastest CAGR owing to increasing research development activities for better treatment options for pheochromocytoma.
Key Players
Some of the key players in the Global Pheochromocytoma Market are Pfizer Inc. (US), Teva Pharmaceutical Company Limited (Israel), Zydus Cadila (India), Novartis AG (Switzerland), Curium Pharma (UK), Jubilant Cadista (US), AstraZeneca (UK), Mylan N.V. (US), Apotex Inc. (Canada), Dr. Reddy’s Laboratories Ltd (India), Lupin (India), and Glenmark Pharmaceuticals Limited (India).
Other prominent players in the market include Exelixis, Inc. (US), Progenics Pharmaceuticals, Inc. (US), Oncoceutics, Inc. (US), FUJIFILM Holdings Corporation (Japan), and Advanced Accelerator Applications (France)
