Future Pediatric Neuroblastoma Treatment will Center Around New Product Development: Study
Global pediatric neuroblastoma treatment market revenues are set to grow at over 9% through 2026, as focus on efficient paediatric care influences both public and private sector to adopt novel interventions. Rising prevalence of pediatric neuroblastoma is likely to influence demand for effective drugs and medical devices during the course of the forecast period. However, according to Fact.MR’ analysis, high cost remains a deterrent to widespread adoption.
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How Precautionary Measures amid COVID-19 Outbreak will Leverage Market Growth
With the ongoing COVID-19 outbreak, healthcare workers are practicing caution as well as stepping up treatment to defend children undergoing treatment for any acquired infections.
Rising designation of orphan drugs for curing cancers such as neuroblastoma is likely to fuel demand for pediatric neuroblastoma drugs. For example, Cellectar Biosciences attained orphan drug label from the FDA in the U.S. for its CLR 131 PDC (Phospholipid Drug Conjugate) for the treatment of pediatric neuroblastoma patients earlier during 2018. The drug is at present in Stage 1 of development.
Market Players Focus on New Product Launches
Fact.MR has profiled some of the leading players in the pediatric neuroblastoma market, including APEIRON Biologics AG, United Therapeutics Corporation, Baxter, Pfizer Inc. and Bayer AG. Their key marketing strategy is to invest in the expansion of novel products. For instance, United Therapeutics Corporation entered into unlimited distribution contracts with Accredo & Caremark to distribute Orientram, Tyvaso and Remodulin in the U.S. Its product line incorporates Unituxin (Dinutuximab) that is a chimeric monoclonal antibody utilized to cure life-threatening paediatric neuroblastoma conditions.
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The chemotherapy type is projected to bolster projections for the global market. Bearability of symptoms and decline in cancer growth, and in some cases, whole eradication of cancers is likely to fuel the segment’s expansion. In addition, chemotherapy products for neuroblastoma, for instance, Doxorubicin, carboplatin and cyclophosphamide are found to notably enhance children’s health conditions. Chemotherapy is slated to grow healthily at a 9.2% CAGR amid the assessment period and will account for around 50% of the overall market.
By distribution channel, hospitals remain lucrative, accounting for nearly three-fifth share of the market. Higher inclination offered to hospital pharmacies for providing specialty medicines due to presence of experienced and trained health professionals will leverage the segment’s projections.
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Osteoporosis Testing Market - The low cost of the procedure in contrast with other substitute treatment as well as low risk related to the procedure is encouraging the growth prospects of osteoporosis testing market in North America & Europe.
Cancer Genomic Testing Market - The growing prevalence of lung cancer and breast cancer is key aspect fueling the expansion of the cancer genomic testing market throughout the assessment period.
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