Fact.MR – A Market Research and Competitive Intelligence Provider: As per the survey conducted by Fact.MR, the global pediatric neuroblastoma treatment market is expected to register impressive growth, expanding at a CAGR of 9.2% during the forecast period between 2020 and 2030.
Sales via Hospitals to Account for 3/5th of Revenue Generated in Pediatric Neuroblastoma Treatment Market by 2030
Fact.MR’s recently published report offers in-depth analysis on the demand outlook for pediatric neuroblastoma treatment market. It provides insights into factors driving the growth across key market segments in terms of therapy type and distributional channel. The report also uncovers hidden opportunities for the market players to capitalize on for the assessment period 2020-2030
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the survey conducted by Fact.MR, the global pediatric neuroblastoma treatment market is expected to register impressive growth, expanding at a CAGR of 9.2% during the forecast period between 2020 and 2030.
The market is largely driven by the increasing burden of cancer such as neuroblastoma, worldwide. According to a study by the American Cancer Society, neuroblastoma accounts for nearly 6% of cancer affecting overall kids’ population in the U.S., and approximately 800 children are reported to be diagnosed with the diseases across North America every year.
The study also states that around 90% of neuroblastoma is found in kids below the age of 5 years. Thus, the demand for effective diagnostics and treatment to counter the rising incidence of the disease will create lucrative opportunities for the market.
Rising designation of orphan drugs for treating neuroblastoma is facilitating the market growth. For instance, Cellectar Biosciences, a Clinical-stage Biopharmaceutical Company, announced receiving orphan drug designation for its CLR 131 Phospholipid Drug Conjugate (PDC) from the Food and Drugs Administration for the treatment of pediatric neuroblastoma.
As per Fact.MR, chemotherapy is estimated to lead the therapy type segment, accounting for nearly half of the demand registered in the market. Increasing use of chemotherapy drugs such as such as carboplatin, Doxorubicin, and cyclophosphamide for neuroblastoma treatment is projected to drive the segment growth at a CAGR of 9.2% through 2030.
“Leading manufacturers are extensively investing in research and development activities for launching novel therapies and drugs to provide effective treatment for rising cases of pediatric neuroblastoma. These efforts are expected to bode well for the market growth,” says a Fact.MR analyst.
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Key Takeaways from Pediatric Neuroblastoma Treatment Market Study
- The North America pediatric neuroblastoma treatment market is anticipated to expand at a CAGR of 9%, due to the high prevalence of neuroblastoma in the U.S.
- Favored by the favorable reimbursement coverage and rising drug approvals in the U.K. and Germany, Europe is estimated to exhibit the fastest growth in the global market.
- China is projected to emerge as a highly remunerative market in Asia Pacific, owing to the presence of a large number of biotechnology and pharmaceutical companies focusing on neuroblastoma research.
- In terms of therapy type, immunotherapy is likely to surpass the chemotherapy segment, growing at an impressively CAGR of 9.9% through 2030.
- Based on distribution channels, hospitals are projected to capture the highest sales, accounting for more than 3/5th of the market revenue.
Key Drivers
- Increasing cases of neuroblastoma in children across North America and Asia Pacific is primarily driving the market.
- Growing adoption of technologically advanced products and rising provision of orphan drugs designation are expected to spur the sales of pediatric neuroblastoma treatments.
Key Restraints
- High cost of neuroblastoma treatments and lack of reimbursement policies in developing economies such as India, China, and Brazil among others are hampering the market growth.
- Side effects associated with the chemotherapy neuroblastoma treatments such as anemia, infections, bruising, and bleeding are hindering the segment sales.
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Competitive Landscape
The top five players in the global pediatric neuroblastoma treatment market are United Therapeutics Corporation, APEIRON Biologics AG, Baxter, Bayer AG and Pfizer Inc., as per Fact.MR.
Leading companies are emphasizing on developing novel products to expand their product portfolio. Besides this, some of the players are aiming at engaging into strategic collaboration, partnership, merger, and agreement with other industry player to increase the increase their revenue share. For instance,
- United Therapeutics Corporationis an American publicly traded Biotechnology Company, announced entering into separate non-exclusive distribution agreements with Caremark and Accredo to distribute Tyvaso, Remodulin, and Orientram in the U.S.
- Baxter International Inc., a multinational health care company with headquartered the U.S., announced manufacturing Cyclophosphamide for Single Dose Injections USP500 mg. When injected cyclophosphamide gets converted into metabolites assisting in the cancer treatments.
Some of the key players in the market profiled by Fact.MR are:
- United Therapeutics Corporation
- APEIRON Biologics AG
- Baxter International Inc.
- CELLECTAR BIOSCIENCES, INC.
- Sun Pharmaceutical Industries, Inc.
- Pfizer, Inc.
- Bayer AG
- MacroGenics, Inc.
- Sartorius AG.
More Valuable Insights on Pediatric Neuroblastoma Treatment Market
Fact.MR, in its new report, offers an unbiased analysis of the global pediatric neuroblastoma treatment market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on in pediatric neuroblastoma treatment market with detailed segmentation:
By Therapy-type
- Immunotherapy
- Chemotherapy
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
By Region
- North America
- Europe
- Rest of the World
Key Questions Covered in the Pediatric Neuroblastoma Treatment Market Report
- The market survey also highlights projected sales growth for pediatric neuroblastoma treatment market between 2020 and 2030
- The report offers insight into pediatric neuroblastoma treatment demand outlook for 2020-2030
- Pediatric neuroblastoma treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Pediatric neuroblastoma treatment market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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