Pediatric Neuroblastoma Treatment Market: Increase in Neuroblastoma among Children to Boost Market
Added: (Fri Dec 07 2018)
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The global pediatric neuroblastoma treatment market is projected to reach US$ 1.3 Bn by 2026, expanding at a high CAGR during the forecast period. Rise in R&D expenditure, increase in incidence of neuroblastoma among children, and rise in awareness about available treatments are the factors anticipated to augment the global market during the forecast period. Moreover, advancement in technology and improvement in health care infrastructure are expected to propel the global pediatric neuroblastoma treatment market during the forecast period. However, high research and development cost associated with cancer therapy is likely to hamper the growth of the market.
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The global pediatric neuroblastoma treatment market has been segmented based on therapy type and distribution channel. In terms of therapy type, the market has been classified into immunotherapy, chemotherapy, and others. The chemotherapy segment held leading market share in 2017. The segment is projected to expand at the highest CAGR during the forecast period. This is attributed to effectiveness of chemotherapy drugs in neuroblastoma treatment. Moreover, chemotherapy is the treatment of choice to slow down disease progression and reduce symptoms. It can also be combined with other treatments such as radiation therapy or surgery for more effective results.
Based on distribution channel, the global pediatric neuroblastoma treatment market has been categorized into hospital pharmacies and retail pharmacies & drug stores. The hospital pharmacies segment dominated the market in 2017 and is expected to retain its leadership position in terms of market share during the forecast period. This is due to high preference to hospital pharmacies for purchasing drugs prescribed for cancer treatment. Moreover, hospital pharmacies ensure drug safety and accurate dosage of drugs as per treatment prescription.
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In terms of region, the global pediatric neuroblastoma treatment market has been segmented into North America, Europe, and Rest of the World. North America dominated the global market in 2017. According to American Cancer Societyís Cancer Statistics, nearly 800 new cases of neuroblastoma are reported in the U.S. each year. This number has been stagnant for several years. Additionally, high cost of therapy, technologically advanced products, improved health care infrastructure, and better reimbursement plans are the major factors contributing to the regionís dominance of the global market. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period owing to improving health care infrastructure and rise in public investment in research and technological advancements in countries such as China and India.
Major players operating in the global pediatric neuroblastoma treatment market are United Therapeutics Corporation, APEIRON Biologics AG, Baxter, Cellectar Biosciences, Inc., Pfizer, Inc., MacroGenics, Inc., and Bayer AG. These players are expanding their product portfolios through mergers and acquisitions and partnerships & collaborations with leading pharmaceutical and biotechnology companies, and by offering technologically advanced products.
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