PUBLISHER: Allied Market Research | PRODUCT CODE: 1446916
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446916
The neuroblastoma drugs market was valued for $0.7 billion in 2022 and is estimated to reach $1.3 billion by 2032, exhibiting a CAGR of 6.2% from 2023 to 2032. Neuroblastoma is a type of cancer that primarily affects young children, typically arising in the adrenal glands, which are located on top of the kidneys. It is the most diagnosed disease in children under five, with most cases appearing in infants. This cancer originates from immature nerve cells, called neuroblasts, which are part of the sympathetic nervous system responsible for the "fight or flight" response.
Neuroblastoma varies widely in its behavior, ranging from spontaneous regression or maturation to aggressive, rapidly spreading forms. Symptoms of neuroblastoma can vary based on the location and size of the tumor but may include abdominal swelling, weight loss, irritability, fatigue, and changes in bowel habits. Neuroblastoma drugs are designed to target and inhibit the growth of cancerous neuroblastoma cells, either by directly attacking the cancer cells or by modulating the biological pathways involved in tumor development. The treatment approach for neuroblastoma often involves a combination of surgery, chemotherapy, radiation therapy, immunotherapy, and other targeted therapies.
The neuroblastoma drugs market is driven by a rise in incidences of neuroblastoma, advancements in R&D activities, and growth in awareness of neuroblastoma. The increasing incidences and prevalence of neuroblastoma, particularly among pediatric populations, is a pivotal factor driving the growth of the neuroblastoma drugs market. For instance, according to the National Center for Biotechnology and Information (NCBI) in 2023, the annual incidence of neuroblastoma in the U.S. was approximately 650 cases, i.e., 10.2 per million children. Thus, the growing prevalence of neuroblastoma led to an urgent need for effective and targeted drug therapies which contribute toward the market growth.
Consequently, pharmaceutical companies and research institutions are compelled to intensify their efforts in drug development, clinical trials, and collaborative research initiatives to address this rising health concern. The market's response to the increasing disease burden emphasizes the importance of advancing innovative treatments to improve outcomes and quality of life for individuals affected by neuroblastoma. In addition, the pharmaceutical industry has been witnessing significant investments in oncology research and drug development, thereby boosting the market growth. Neuroblastoma, as a subset of pediatric oncology, benefits from this broader trend, with increased funding and resources allocated to discovering and developing novel drugs. For instance, the National Cancer Institute (NCI) has made substantial investments in basic research, leading to the development of dinutuximab, a treatment for neuroblastoma.
However, the high cost of neuroblastoma treatment, and harmful side effects associated with neuroblastoma drugs are the factors responsible for the impeding the growth of the neuroblastoma drug market. In contrast, rise in number of pipeline drugs for neuroblastoma provides lucrative opportunity to the market growth. In addition, the exploration of combination therapies involving different classes of drugs, such as traditional chemotherapeutics, targeted agents, and immunotherapies, offers opportunities for enhanced treatment efficacy.
The neuroblastoma drugs market is segmented into type, route of administration, distribution channel, and region. By type, the market is classified into chemotherapy, immunotherapy, and others. By route of administration, the market is segregated into oral and injectable. By distribution channel, the market is classified into online and offline. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). Major key players that operate in the neuroblastoma drugs market are Recordati Group,, AstraZeneca plc, Bristol-Myers Squibb Company, Cellectar Biosciences, Inc., Eli Lilly and Company, MacroGenics Inc, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., United Therapeutics Corporation, and Y-mabs Therapeutics, Inc. Key players operating in the market have adopted agreement, acquisition, partnership, and product approval as their key strategies to expand their product portfolio.
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