The pediatric neuroblastoma treatment market studied was projected to grow with a CAGR of nearly 6.3% over the forecast period. The major factor attributing to the growth of the market is the increasing prevalence of neuroblastoma in the pediatric population. According to the National Cancer Institute, the prevalence is about 1 case per 7,000 live births, the incidence is about 10.54 cases per 1 million per year in children younger than 15 years in the United States every year. Nearly 37% of patients are diagnosed as infants, and 90% are younger than 5 years at diagnosis. Furthermore, the growing investments in research and development programs by the government to develop the medical infrastructure in the pediatric section and increasing awareness of the treatment of pediatric neuroblastoma is boosting the market growth. However, the high cost involved in pediatric neuroblastoma treatment is a major drawback of market growth.
Key Market Trends
Chemotherapy Segment is Dominating the Pediatric Neuroblastoma Treatment Market.
- Chemotherapy uses anti-cancer drugs, which are usually delivered into a vein. The drugs enter the bloodstream and travel throughout the body to reach and destroy cancer cells. This makes chemo useful for treating neuroblastoma that has spread to the lymph nodes, bone marrow, liver, lungs, or other organs.
- The increasing growth rate of the segment is mainly attributed to the effectiveness of chemotherapy drugs in neuroblastoma treatment along with the increasing incidence of the disease in pediatric population. Moreover, chemotherapy is the treatment of choice to slow down disease progression and reduce symptoms. It is also combined with other treatments such as radiation therapy or surgery for more effective results. Whether if a child with neuroblastoma will undergo chemotherapy varies on their risk group. Some children with neuroblastoma are treated with chemo either before surgery or after surgery. In few other cases, especially when the cancer has spread too far to be removed completely by surgery, chemotherapy is the main treatment.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as the high prevalence of pediatric neuroblastoma in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. In this region the United States has the maximum share due to supportive healthcare policies, a high number of patients, and a developed healthcare market. According to the American Cancer Society’s Cancer Statistics, nearly 800 new cases of neuroblastoma are reported in the United States every year. The above statistics prove that the high prevalence of the disease is boosting the market in the region.
Competitive Landscape
The pediatric neuroblastoma treatment market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are United Therapeutics Corporation, APEIRON Biologics AG, Baxter, CELLECTAR BIOSCIENCES, INC, Sun Pharmaceutical Industries, Inc., Pfizer, Inc., Bayer AG, MacroGenics, Inc., Sartorius AG.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support