Neuroblastoma Drugs Market Size, Share, Growth And Forecast 2020-2028

Preview Analysis

Request Insights

Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

In The News

On May 27, 2020: Eli Lilly And Company started research on genomic testing in cancer in order to find weakness in tumour’s makeup and to design more targeted treatment. Further, Lilly Oncology is working to spread the knowledge about genomic testing in cancer diagnosis and treatment.

Introduction 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

Cisplatin
Etoposide
Topotecan
Doxorubicin
Others

By Mechanism Type

Antibiotics
Microtubule Inhibitors
Alkylating Agents
Others

By Treatment Type

Chemotherapy
Bone Marrow Transplantation
Retinoid therapy
Immunotherapy
Surgery

By Diagnosis Type

Imaging Test
Physical Test
Bone Marrow Sample Testing
Others

By End Users

Hospitals
Speciality Clinics
Homecare
Others

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.

Neuroblastoma Drugs Market Graph

The neuroblastoma drugs market is further classified on the basis of region as follows:

North America (US, Mexico and Canada) Market size, Y-O-Y growth and Opportunity analysis.
Europe (Germany, France, Italy, Belgium, Switzerland, Spain, UK, Russia, Netherlands and Other parts of Europe) Market size, Y-O-Y growth and Opportunity analysis.
Asia Pacific (Japan, India, China, Malaysia, Australia, Singapore, Philippines, Indonesia, Thailand and rest of Asia Pacific) Market size, Y-O-Y growth and Opportunity analysis.
Latin America (Argentina, Brazil and rest of Latin America) Market size, Y-O-Y growth and Opportunity analysis.
Middle East & Africa (Saudi Arabia, Israel, Egypt, United Arab Emirates and South Africa) Market size, Y-O-Y growth and Opportunity analysis.

Neuroblastoma Drugs Market