Pediatric Neuroblastoma Treatment Market Grow At A CAGR Of ~8.6% From 2019 To 2030.
Market Industry Reports (MIR) has published a new report titled “Pediatric Neuroblastoma Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Pediatric Neuroblastoma Treatment Market is estimated to account for over US$ 676.0 million by 2019. The market is anticipated to grow at a CAGR of ~8.6% from 2019 to 2030.
The market growth can be attributed to several factors such as increasing prevalence of neuroblastoma in children, improvements in the healthcare infrastructure, and rising R&D activities are anticipated to further contribute to this substantial market growth between 2019 and 2030. However, high cost of this therapy is likely to restrain the growth of market to a certain extent.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In January 2020, EUSA Pharma and BeiGene, Ltd. announced that they have entered into an exclusive development and commercialization agreement for the orphan biologic products SYLVANT® (siltuximab) and QARZIBA® (dinutuximab beta) in Greater China.
According to the American Society of Clinical Oncology (ASCO), in U.S., neuroblastoma is the 3rd most common cancer found in children, accounting for more than 6% of childhood cancer and nearly 800 new cases of neuroblastoma are reported in the U.S. each year. Therefore, the rising incidences of pediatric neuroblastoma can be a major factor contributing to the growth of market.
Browse key industry insights spread across 175 pages with market data tables & figures & charts from the report, Pediatric Neuroblastoma Treatment Market by Treatment Type (Immunotherapy, Chemotherapy, and Radiation Therapy), Risk Group (Low Risk, Intermediate Risk and High Risk), End User (Hospitals and Cancer Specialty Centers) - Analysis & Forecast 2019-2030. in detail along with the table of contents:https://www.marketindustryreports.com/pediatric-neuroblastoma-treatment-market/225
Rising R&D activities and rise in their private & public funding is expected to positively impact the global market. Prominent players are trying to encourage technological advancements to develop the next generation of cancer-targeting treatments through research & development collaborations. This has resulted in the identification of new tumor targets and innovative approaches for the treatment.
However, high cost related to therapy is one of the major factors hampering market growth. Increase in R&D activities and technological advancements related to the treatments have increased the survival rate, but unfortunately these advances come at a very high price. Patients with neuroblastoma undergo many rounds of complex and intensive treatment comprising of several cycles of chemotherapy, which may increase the duration of treatment. Longer the duration of treatment, the greater is the cost. This factor is expected to hamper the growth of market.
Asia Pacific is the fastest-growing market for pediatric neuroblastoma treatment and is anticipated to contribute significantly to the global market share. The growth in this region can be attributed to improving healthcare infrastructure and a rise in public investments in research and technological advancements. Countries in the APAC, such as India, China and Japan, are anticipated to provide significant growth opportunities for the global pediatric neuroblastoma treatment market due to increasing R&D activities in healthcare sector in these regions
Some of the prominent players in the Pediatric Neuroblastoma Treatment market include United Therapeutics Corporation, APEIRON Biologics AG., EUSA Pharma, CELLECTAR BIOSCIENCES, INC., Y-mAbs Therapeutics, Inc., Pfizer Inc., MacroGenics, Inc., Baxter, Bristol-Myers Squibb Company and Teva Pharmaceutical Industries Ltd among others.
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