The market for neuroblastoma drugs is anticipated to record a notable CAGR of around 4% over the forecast period 2020-2028. The rising prevalence of childhood cancer along with the surge in demand for anti-GD2 drugs is estimated to drive the growth of the market.
Further, the rising investments for the treatment of cancer and growing birthrate worldwide are boosting the market growth. Moreover, enabled focus on new tumor targets for cell mediated immunotherapy agents owing to the increasing awareness for neuroblastoma diagnosis & treatment is accelerating the growth of the market. Based on treatment type, the market is segmented into chemotherapy, bone marrow transplantation, retinoid therapy, immunotherapy and surgery.
Research Nester published a report titled “Neuroblastoma drugs market– Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the neuroblastoma drugs market in terms of market segmentation by drug type, by mechanism type, by treatment type, by diagnosis type, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for chemotherapy is estimated to foresee noteworthy growth rate owing to the rising usage of chemotherapy as a primary treatment for cancer along with the increasing demand for chemotherapy drugs such as carboplatin and doxorubicin. Additionally, chemotherapy makes other treatments possible such as surgery on the back of its ability to shrink the tumor cells.
Based on the regional analysis, the market for neuroblastoma drugs is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The North America is anticipated to dominate the market on the back of approval of orphan drugs for the treatment of neuroblastoma along with the increasing investments in healthcare sector.
Further, the growing focus on technologically enhanced drugs and rising cases of neuroblastoma are driving the growth of the market. The market in Asia Pacific region is anticipated to witness fastest growth rate owing to the rising cases of childhood cancer with the surge in population. The Europe region will witness a notable growth in the market on the back of rising health awareness along with the surge in number of child healthcare centers.
The rising measures for the prevention of children from COVID-19 owing to the increased vulnerability of cancer patients to the virus is rising the demand for neuroblastoma drugs over the forecast period. Further, in order to understand the effect of COVID-19 on the patients dealing with neuroblastoma, the research is focusing for the development of response mechanism. Moreover, increased production of important drugs for the diagnosis & treatment of neuroblastoma to reduce the complications by various emerging players is fostering the growth of the market during the forecast period.
However, high cost of the treatment and ill effects related to neuroblastoma drugs along with the lack of trained medical professionals is expected to operate as key restraint towards the growth of neuroblastoma drugs market over the forecast period.