In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
August 2021- Epizyme and HUTCHMED announced a strategic collaboration for the development and commercialization of TAZVERIK, a drug for treating pediatric cancers, in Greater China.
April 2021- Amgen’s BLINCYTO demonstrated prolonged event-free survival as compared to consolidation chemotherapy in pediatric patients suffering from relapsed acute lymphoblastic leukemia.
Ans: The major factors driving market growth are increasing occurrence of cancer among children, and rising prevalence of childhood obesity worldwide.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2031.
Ans: The major players in the market are Bristol Myers Squibb Company, Epizyme, Inc., Eisai Co., Ltd., Recordati Rare Diseases Inc., Merck & Co., Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by indication, treatment, end user, and by region.
Ans: The leukemia segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: High cost of pediatric cancer treatment is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing government investments to enhance the medical infrastructure, and rising awareness about different treatment options in pediatric oncology.