Neuroblastoma Drugs Market Trends

Growth Drivers

• Rising Healthcare Spending across the World Owing to the Growing Diseases – - The world's healthcare spending is expected to rise in the next years as a result of the aging population, rising disease incidence, and increased demand for medical services, among other factors. The rising healthcare cost, service, and pharmaceutical drug prices are estimated to hike the market growth.

Healthcare spending in the U.S. increased by over 2.5% reaching more than USD 4 trillion which was USD 13000 per person as of 2021.

• Growing Prevalence of Cancers Cases Among Children and Adults – The increasing occurrence of new cancer cases across the U.S. is estimated to increase to 30 million every year by the end of 2040.

• Increasing Practice of Chemotherapy as First-of-Line Treatment – The increasing number of patients undergoing chemotherapy as first-line of treatment across the world per annum is estimated to rise by over 50% from 10 million to 14 million from 2019 to 2040.    

• High Number of People Taking Early Diagnosis Tests to Prevent Complications – Across the U.S. more than 25% of cases are diagnosed at early stages as of 2022 estimations.

• Growing Cancer Institutes Conducting Research and Development Programs – The research of new drug developments in cancer led to 12 new drug approvals by the U.S. Food and Drug Administration for oncology as of 2023. 

Challenges

• Rising Side Effects of Antibiotics from High Use – During the projected period, the prevalence of unfavorable treatment side effects, such as diarrhea, mouth sores, bleeding, and loss of appetite, is anticipated to restrain market expansion.
• Lack of Proper Understanding Regarding Disease Occurrence
• Increasing Treatment Costs which are Not Affordable for Low-Income Countries