Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Neuroblastoma
The term neuro means nerves and blastoma is a cancer affecting immature cells in various parts of body. Neuroblastoma is a kind of cancer that prevails most often in infants and young children. Neuroblastoma starts in sympathetic nerve ganglia in the abdomen and can develop in stomach, chest, pelvis & bones. The symptoms of neuroblastoma usually depend on the part of the body affected. The symptoms of neuroblastoma in the abdomen include abdominal pain and diarrhoea or constipation. Neuroblastoma in the chest includes symptoms such as chest pain and changes in the eyes. Neuroblastoma in most of the cases disappears or sometimes leads to a tumour. The treatment of this cancer is based on number of factors such as stage of the cancer, child’s age and several other abnormalities in the genes.
Market size and Forecast
The market for neuroblastoma drugs is anticipated to record a notable CAGR around 4% during the forecast period. The major key factors driving the growth of the market include rising prevalence of cancer in children along with the increase in spending on cancer treatment. Additionally, the first drug approved for the cure of neuroblastoma that is anti-GD2 is witnessing huge demand in market owing to its site-specific action and no cytotoxic effects in body. Further, the growing birth rate globally along with the development in advanced novel therapies for the treatment of neuroblastoma is fostering the market growth. Moreover, rising awareness for the diagnosis and treatment of neuroblastoma has enabled the focus on new tumour targets for the progress in cell mediated immunotherapy agents for the cancer. Hence, these factors are estimated to fuel the growth of the market over the forecast period.
Based on treatment type, the market is segmented into chemotherapy, bone marrow transplantation, retinoid therapy, immunotherapy and surgery, out of which, chemotherapy is anticipated to witness significant growth on the back of rising usage of chemotherapy drugs such as doxorubicin and carboplatin in order to destroy the cancer cells. Moreover, chemotherapy is used as a primary treatment for cancer as it helps in the shrinkage of tumour cells which makes other treatments such as surgery or radiation possible.
Growth Drivers
Vulnerability to COVID-19
The outbreak of COVID-19 pandemic has increased the vulnerability of cancer patients owing to their condition. The surge in preventive measures in order to protect the children from COVID-19 is driving the demand for diagnosis and treatment of neuroblastoma. Further, most of the key players in the market have increased their production for important drugs to cure neuroblastoma and to ensure that the patients suffering from cancer do not undergo complications. Additionally, in-depth research is conducted to understand the impact of COVID-19 on patients suffering from neuroblastoma for the development of response mechanism. Hence, these factors will account for the growth of the market over the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT
Restraints
High Cost and Side Effects
High cost for the treatment of neuroblastoma and unfavourable side effects of the treatment such as diarrhoea, mouth sores, bleeding and loss of appetite are expected t0 hinder the market growth during the forecast period.
Lack of Trained Professionals
The insufficiency of trained medical professionals to cure the neuroblastoma cancer is further hampering the growth of the market.
Market Segmentation
Our in-depth analysis of neuroblastoma drugs market includes the following segments:
By Drug Type
By Mechanism Type
By Treatment Type
By Diagnosis Type
By End Users
By Region
On the basis of regional analysis, the neuroblastoma drugs market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for neuroblastoma drugs in North America is anticipated to dominate the region owing to the rise in technologically enhanced drugs along with the increase in incidences of neuroblastoma. Further, growing investments in healthcare sector and approval of orphan drugs for the treatment of neuroblastoma are boosting the market growth. The Asia Pacific region is anticipated to be fastest growing market on the back of presence of emerging nations leading to surge in children cancer base. The market in Europe is estimated to witness significant growth on the account of rising number of child healthcare centres for the treatment of cancer along with the increasing awareness related to good health.
The neuroblastoma drugs market is further classified on the basis of region as follows:
Top Key Players Dominating the Market
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