Global Pediatric Neuroblastoma Treatment Market 2023-2030

Global Pediatric Neuroblastoma Treatment Market 2023-2030

Global Pediatric Neuroblastoma Treatment Market Size, Share & Trends Analysis Report by Treatment Type (Chemotherapy, Immunotherapy, Radiation Therapy, and Others), and by End-User (Hospitals, Specialty Clinics and Others) Forecast Period (2023-2030)

The global pediatric neuroblastoma treatment market is anticipated to grow at a CAGR of 10.3% during the forecast period. Pediatric neuroblastoma treatment refers to a kind of treatment for cancer or a tumor that affects the nervous system in children. The rising number of new cases of pediatric neuroblastoma is expected to propel the growth of the pediatric neuroblastoma treatment market over the forecast period. For instance, in March 2023, according to an article published by the American Society of Clinical Oncology (ASCO), a US-based organization for oncology professionals and physicians, neuroblastoma affects approximately 700 to 800 youngsters in the US each year. In the US, neuroblastoma accounts for 6.0% of all childhood malignancies. Neuroblastoma affects around 90.0% of children under the age of five. Additionally, the government's increased investments in R&D initiatives to build pediatric medical infrastructure will further boost market growth. For instance, in March 2022, Rally Foundation provides $3.4 million in grants to 51 researchers from 31 institutions for childhood cancer research.

Segmental Outlook

The global pediatric neuroblastoma treatment market is segmented based on treatment type and end-user. Based on treatment type, the market is sub-segmented into chemotherapy, immunotherapy, radiation therapy, and others. Based on the end-user, the market is sub-segmented into hospitals, specialty clinics, and others. Among these, the hospitals sub-segment to account for a prominent market share in the global pediatric neuroblastoma treatment market. The growth is attributed to the availability of advanced treatment technologies, and multidisciplinary collaboration.

The Chemotherapy Sub-Segment is Anticipated to Hold a Prominent Share of the Global Pediatric Neuroblastoma Treatment Market

The primary factor attributed to the sub-segment growth is the effectiveness of chemotherapeutic medications in the treatment of neuroblastoma. Chemotherapy is the preferred method of treatment to lessen symptoms and decrease the spread of the disease. It is also used in conjunction with other therapies like radiation therapy or surgery. For instance, in June 2021, the Memorial Sloan Kettering Cancer Center sponsored a clinical study that focused on determining whether N9 was a secure and efficient treatment for kids with neuroblastoma. Cyclophosphamide, topotecan, and vincristine (CTV) are the three chemotherapy drug combinations that make up the N9 regimen (CDV). Additionally, the increasing investments in researching the effectiveness of chemotherapy in treating pediatric neuroblastoma will further boost the sub-segment growth. For instance, in January 2022, Jason Shohet, MD, Ph.D., received a two-year $300,000 Scholar Hope Grant from Hyundai Hope on Wheels to focus on overcoming drug resistance in treatments for neuroblastoma.

Regional Outlook

The global pediatric neuroblastoma treatment market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is projected to expand at a significant CAGR during the forecast period, owing to various factors such as the increasing prevalence of pediatric neuroblastoma, advancements in precision medicine, and increasing healthcare expenditure.

Global Pediatric Neuroblastoma Treatment Market Growth by Region 2023-2030

Source: OMR Analysis

North America is Anticipated to Hold a Significant Share of the Global Pediatric Neuroblastoma Treatment Market

Pivotal factors driving the market growth in the region include the high frequency of pediatric neuroblastoma in the region, the well-established healthcare infrastructure, and new product approvals. For instance, in June 2022, the FDA granted Omblastys (omburtamab) a priority review for a Biologics License Application for the treatment of children with the central nervous system or leptomeningeal metastasis (a disease that spreads to the cerebrospinal fluid that surrounds the brain and spinal cord) from neuroblastoma.

The growing initiatives including collaborations, mergers, and acquisitions, among others, will also significantly contribute to the market's expansion. For instance, in August 2021, United Therapeutics, an American biotechnology company, announced that it had partnered with former NFL player Devon Still and his daughter Leah to launch the educational initiative called 'Braving NeuroBLASToma'. The initiative intended to educate people more about cancer affecting immature nerve cells known as neuroblasts. The Isabella Santos Foundation based in North Carolina, US, is helping people whose children are suffering from pediatric neuroblastoma by paying $1500.0 for their treatment using precision medicine. The foundation helped around 81 kids by October 2022 and intends to help more in the future until insurance covers the cost of precision medicine.

Market Players Outlook

The major companies serving the global pediatric neuroblastoma treatment market include APEIRON Biologics AG, Baxter Healthcare Corp., Cellectar Biosciences, Inc., and United Therapeutics Corp. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, funding, collaborations, and new product launches to stay competitive in the market. For instance, in March 2022, Recordati S.p.A., an Italy-based pharmaceutical group, acquired EUSA Pharma (UK) Ltd. for $824.2 million. The acquisition is expected to offer Recordati a broader portfolio of pharmaceuticals for rare diseases. EUSA Pharma (UK) Ltd. is a UK-based specialty pharmaceutical company that deals in pediatric neuroblastoma treatment.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global pediatric neuroblastoma treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.