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Pituitary Tumor Treatment Market Segmented By treatment type such as Surgery, Radiation Therapy, Medicines
Abnormal growth in pituitary glands leads to the pituitary tumor that affects the working of the gland and cause an imbalance of pituitary hormone secretions. The demand for pituitary tumor treatment is anticipated to increase at a potent CAGR during the forecast period. The global pituitary tumor treatment market is growing at a high rate due to factors such as the rising prevalence of cancer and the growing aging population across the globe.
According to the American Brain Tumor Association, benign tumors account for around 35-40% of all pituitary tumors. According to the American Cancer Society, in 2016, 10 Mn diagnosed tumor turn out to be cancerous. The campaigns like “Be clear on cancer,” helped in spreading awareness regarding early cancer diagnosis, related risk factors, and preventive measures.
It also included free screening programs that helped around 15,000 patients in diagnosing cancer. The initiatives by NGOs and government is expected to propel the growth of the pituitary tumor treatment market.
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Rising investments in research and development activities and technological advancement in pituitary tumor treatment is the major factor driving the growth of the pituitary tumor treatment market. Increasing demand for noninvasive surgery also contributing to the growth of pituitary tumor treatment market. Additionally, rising demand for better treatment options, especially, in developing economies is expected to drive the pituitary tumor treatment market.
However, the high treatment cost may restraint the pituitary tumor treatment market. Also, side effects related to before and after surgery such as infection, bleeding, etc., and strict government regulations may hamper the pituitary tumor treatment market over the forecast period.
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The global market for pituitary tumor treatment is expected to witness high growth over the forecast period. Most of the pituitary glands are benign because they do not spread in the other parts of the body. But, pituitary tumor treatment is very important as it is near brain and may cause major problems to the nearby tissue due to the production of excessive hormones.
Increasing healthcare expenditure are factors contributing to the growth of pituitary tumor treatment market. The small pituitary tumor treatment is easy through noninvasive treatment or medicines. However, a large pituitary tumor treatment is difficult to treat due to its complex nature. And lack of expertise leads to complication and danger to the patients. This factor is expected to hamper the pituitary tumor treatment market.
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Geographically, the global pituitary tumor treatment market is segmented into viz. North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
North America is expected to dominate global pituitary tumor treatment market due to advanced and developed healthcare infrastructure. According to the American Society of Clinical Oncology, in 2017, around 4 Mn pituitary gland tumors were diagnosed within the United States.
Europe is expected to register the second largest market share in the global pituitary tumor treatment market due to increasing initiatives in the field of research & development.
The pituitary tumor treatment market in the Asia Pacific excluding Japan is expected to show significant growth due to the large tumor patient pool. The pituitary tumor treatment market in Latin America is expected to show moderate growth.
Examples of some of the key players operating in the global pituitary tumor treatment market are Accuray Incorporated, Nordion, Inc., C. R. Bard, Inc., Elekta AB, Genentech, Inc., Mitsubishi Electric Corporation, RaySearch Laboratories, Salzman International, Sigma-Aldrich Co. LLC, Trinity Biotech, Varian Medical Systems, Inc., and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
