Slow NETs market growth forecast due to low innovation and generics competition
The market for neuroendocrine tumors (NETs) – a rare type of tumor where cancerous growth can begin in any cell within the hormone or nervous system – is expected to see a very slow 0.9% compound annual growth rate (CAGR) over the next decade in the world’s eight major markets (8MM; The USA, France, Germany, Italy, Spain, the UK, Japan and China) due to substantial generic erosion and low levels of innovation.
However, data and analytics company GlobalData notes that this may turn around after 2030 with the development of molecules currently in the early-stage pipeline.
According to GlobalData’s latest report, ‘ Neuroendocrine Tumors - Global Drug Forecast and Market Analysis to 2030’, the NET market will grow from $3.11 billion in 2020 to $3.41 billion in 2030 across the 8MM.
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