The increasing research grants and funding are contributing to the neuroendocrine tumors therapeutics market growth in the forthcoming years. Various government and non-government organizations are focusing on providing grants and funding to create an awareness about neuroendocrine tumors. These programs also help in better and quicker development of therapies for the treatment of neuroendocrine tumors. Furthermore, the grants are expected to accelerate the research and strengthen the drug development pipeline of neuroendocrine tumors, thus, impacting the market growth positively over the next few years. analysts have predicted that the neuroendocrine tumors therapeutics market will register a CAGR of close to 9% by 2023.
The advent of radiolabeled drugs
One of the growth drivers of the global neuroendocrine tumor’s therapeutics market is the advent of radiolabeled drugs. Due to their high efficacy with less adverse effects, such novel drugs receive high adoption from medical practitioners, which broadens the overall patient base and drives the market growth.
Increasing preference for alternative treatments
One of the challenges in the growth of the global neuroendocrine tumor’s therapeutics market is the increasing preference for alternative treatments. Therapeutic approaches remain costly, more time consuming, and non-remissive in nature, which makes them less preferred treatment options among patients as well as medical practitioners, which poses a challenge to market growth.
For the detailed list of factors that will drive and challenge the growth of the neuroendocrine tumors therapeutics market during 2019-2023, view our report.
The market appears to be highly concentrated with the presence of a few market players. Vendors are focusing on extensive research for identifying the attributes of neuroendocrine tumors through a genomic approach, as the identification of mutated genes is one of the biggest challenges for developing target therapies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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