May 22, 2024

Pituitary Cancer Market is Expected to be Flourished by Growing Pipeline Products

Pituitary cancer is a rare form of cancer that forms in the pituitary gland which produces important hormones that control many other glands and organs in the body. The most common type of pituitary tumor is noncancerous (benign) called pituitary adenoma. Pituitary cancer has nonspecific symptoms such as headache, vision problems, and lack of energy. The treatments for pituitary cancer include surgery, radiation therapy, chemotherapy, hormone therapy, targeted therapy, or a combination of these treatments. Pipeline therapies such as immunotherapy, DRF-1042, Iomab-B, and precision medicines developed using novel drug delivery systems like nanoparticles promise to revolutionize the treatment of pituitary cancers.

The global pituitary cancer market is estimated to be valued at US$ 85 million in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing pipeline products targeting pituitary cancers are expected to drive the market growth over the forecast period. Major pharmaceutical companies are focusing on developing immunotherapies, targeted therapies, and precision medicines for pituitary cancer treatment. For instance, in 2023, Novartis received the FDA breakthrough therapy designation for DRF-1042, an investigational targeted therapy for recurrent or progressive pituitary adenomas not suitable for surgery. The preliminary studies showed encouraging anti-tumor activity of DRF-1042 in pituitary adenoma patients. In addition, Iomab-B, a targeted radiation therapy developed by Actinium Pharmaceuticals is being studied for the treatment of recurrent glioblastoma and other cancers including pituitary cancer. The promising pipeline candidates are anticipated to bring more effective therapeutic options for pituitary cancer patients thus propelling the market growth.

Segment Analysis
Pituitary Cancer market is segmented based on type and end users. Based on type, the market is divided into functioning tumors and non-functioning tumors. Amongst these, non-functioning tumors dominate the segment as these type of tumors do not produce hormones and create diagnostic challenges. Based on end users, the market is categorized into hospitals, clinics and others. Hospitals dominate the segment owing to availability of advanced treatment facilities and skilled medical professionals.

PEST Analysis
Political: Regulations supporting funding for research activities pertaining to rare cancers positively impact the market. However, lack of standardized treatment guidelines can hamper the market growth.
Economic: High cost of pituitary cancer treatment procedures limits market growth. However, favorable reimbursement policies boost the market.
Social: Rising public-private partnerships to enhance awareness regarding rare cancers and government initiatives to lower treatment costs drive the market.
Technological: Improving diagnostic techniques and development of targeted drug therapies support the market. However, lack of novel treatment approaches in low and middle-income countries restrain the market.

Key Takeaways
The global pituitary cancer market is expected to witness high growth.

Regional analysis: North American region dominates the global market owing to presence of advanced healthcare infrastructure and availability of funding for research. Europe holds significant market share due to rising incidence of pituitary cancers and favorable regulatory environment.

Key players operating in the pituitary cancer market are Novartis, Pfizer Inc., F. Hoffmann-La Roche Ltd., Varian Medical Systems, Inc., Ion Beam Applications SA. Key players operating in the pituitary cancer market are Novartis, Pfizer Inc., F. Hoffmann-La Roche Ltd. Key players are focused on partnerships, collaborations and new product launches to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it