by Global Pediatric Neuroblastoma Treatment Market: An Overview
By the end of the forecast period of 2018 to 2026, the global pediatric neuroblastoma treatment will witness increase in market worth to USD 1.3 billion. The market would grow at a compound annual growth rate 8.9% over this period. This growth will manifest itself in the market in a number of ways including generation of a marked number of profitable opportunities. A large number of prominent factors of growth are marking the global pediatric neuroblastoma treatment market and are responsible for this growth.
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Increasing awareness and efforts directed by governmesnts across the globe is set to improve outcomes is leading to notable growth in the market. It is an outcome of growing number of cases of pediatric neuroblastoma.
Thus, one notes intensive research and development going on across nations. This is paving way for better and more effective treatments. It will therefore help the market grow at a considerable pace over the forecast period. Advancement in technology also holds key place here as it is crucial in determining growth for the players as well overall market landscape.
Improving healthcare infrastructure, particularly in the developing regions of the world, will lead to growth in pediatric neuroblastoma treatment market. A high incidence of this condition is also a notable factor of growth in the market. Governments are also directed efforts in this direction.
These factors are also leading to increase in awareness regarding the condition and that is leading to growth in the market as demand for effective treatments take on an upward growth curve. The only restrain that is set to mark the landscape over the forecast period, restraining the market from reaching its full growth potential is high costs of such treatments – therapies and drugs. Research and development in the field is also an expensive endeavor in the market.
The market for pediatric neuroblastoma has a number of players operating its playfield. Some of the dominant names are United Therapeutics Corporation, APEIRON Biologics AG, Baxter, CELLECTAR BIOSCIENCES, INC, Sun Pharmaceutical Industries, Inc., Pfizer, Inc., Bayer AG, MacroGenics, Inc., and Sartorius AG, among others.
A number of strategies are often deployed by these players in order to grow. Therefore, one often notes players entering in to new alliances such as strategic partnerships and collaborations as these help in combining resources such as man-power, know-how, and so on in order to ensure growth. Besides, these are also responsible for helping players get better market penetration.
Other notable strategies are development of drugs and therapies. It creates a very prominent place for research and development (R&D) activities in the overall growth strategy. Besides, technological development also holds key to future growth.
Chemotherapy Segment to Dominate Global Pediatric Neuroblastoma Treatment Market over the Forecast Period
The global pediatric neuroblastoma treatment market report is segmented on the basis of therapy type and distribution channel. The former is sub-segmented into immunotherapy and chemotherapy. Distribution channels include examination of hospitals, pharmacies, retail pharmacies, and drug stores.
In 2017, the chemotherapy segment under the therapy type category held the dominant share and the trend is anticipated to roll into the forecast period. Besides, analysts claim that it will also grow at a very high rate over the forecast period. One of the biggest factors of growth that push the segment up is the high efficacy of the segment. It is highly preferred b physicians around the world for managing symptoms and progression. Additionally, it is quite pertinent to note here that it is also used in combination with other therapies such as radiation therapy.
Furthermore, on the basis of distribution channel, hospital pharmacies will top the growth charts owing to high preference and reliance on these for drug needs. In 2017 as well, this segment contributed massively to market growth. It is also important to make note of the fact here that there these enjoys high credibility in the market.
North America Expected to Dominate the Global Pediatric Neuroblastoma Treatment Market over the Forecast Period of 2018 to 2026
North America, Europe, Asia Pacific, and Rest of the World form various regional segments that report on pediatric Neuroblastoma treatment market, prepared by covers. As per analysis, North America would account for a dominant share in the market over the forecast period and a number of factors would push it to that position.
For instance, high incidence of neuroblastoma is being noted in the North American region. This is contributing immensely to growth, which is projected for the region. Healthcare infrastructure here is robust and this is also owed to as far as rosy statistics are concerned. Besides, better reimbursement framework and growing awareness are also major growth propellers in the regional market.
It is also quite interesting to note here that the United States of America will be a notable contributor to growth in the market. Every year, 800 cases of neuroblastoma are reported in the country, states American Cancer Society.
On the other hand, it will be the Asia Pacific (APAC) region that displays a sturdy growth rate over the forecast period. Reasons that will be attributed to this growth are increase in public investment and improvement in healthcare infrastructure. Additionally, certain technological advancements, particularly those noted in India and China, are contributing massively to the steady trajectory. The region will also create opportunities – gainful and novel – for market players to tap into, in order to secure growth.
The global pediatric neuroblastoma treatment market has been segmented into:
Therapy Type
- Immunotherapy
- Chemotherapy
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Rest of Europe
- Rest of the World
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