Institution of Precautionary Measures amid COVID-19 Pandemic to Leverage Growth of Pediatric Neuroblastoma Treatment Market
Neuroblastoma is amongst the most common cancers affecting infants under the age of one. The condition accounts for nearly 6% of all cancers in children, especially in developed countries such as the United States. Also, an estimated 800 new cases of neuroblastoma are reported annually in the U.S.
The increasing burden of the condition is anticipated to push demand for treating the disease. With the ongoing COVID-19 pandemic healthcare workers are exercising caution and stepping up treatment to protect cancer-afflicted children from infection.
Increasing designation of orphan drugs for treating cancers such as neuroblastoma is anticipated to drive the global pediatric neuroblastoma treatment market. For instance, Cellectar Biosciences received orphan drug designation from the U.S. FDA for its CLR 131 Phospholipid Drug Conjugate (PDC) to treat pediatric neuroblastoma patients in early 2018.
The drug is currently in Stage 1 of development. The global pediatric neuroblastoma treatment market is anticipated to surge at a staggering CAGR of 9.2% throughout the forecast period (2020-2026).
Chemotherapy to Register Robust Growth, Immunotherapy Procedures to Follow
The chemotherapy segment is anticipated to bolster prospects for the global pediatric neuroblastoma treatment market. Reduction in cancer growth and bearability of symptoms, and in certain cases, complete eradication of cancers is projected to drive the segment’s growth.
Additionally, chemotherapy products for neuroblastoma, such as cyclophosphamide, carboplatin, and Doxorubicin are found to significantly improve the health conditions of children.
The chemotherapy segment is poised to expand robustly at a CAGR of 9.2% during the forecast period and shall capture nearly half of the total pediatric neuroblastoma treatment market.
Immunotherapy procedures are anticipated to grow the fastest, at a CAGR of 9.9% during the forecast period. Increased chances of survival without any episode of relapse or disease progression is projected to be the primary growth determinant of the immunotherapy procedures.
Over one-fourth of the global pediatric neuroblastoma treatment market shall be dominated by the immunotherapy segment throughout the forecast period. Additionally, given the current COVID-19 pandemic scenario, patients are anticipated to be better protected from infection.
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North America, European Markets to Expand amid Rising Drug Approvals
North America is set to retain its dominance in the global pediatric neuroblastoma treatment market, capturing over half of the overall market share. Key growth drivers behind this dominance include a high adoption rate of technologically-advanced products, greater reimbursement coverage ensuring return on investments and provision of orphan drugs designation that aids in the process of drug approval. Projections indicate a staggering CAGR of 9.0% for the North American market.
Europe is poised to register the fastest growth in the global pediatric neuroblastoma treatment market. Increasing incidences of neuroblastoma and rising drug approvals are attributed as important growth levers.
Besides, the presence of a large number of pharmaceutical and biotechnology companies focusing on neuroblastoma research and rise in healthcare awareness are also projected to leverage the European market. The European market is set to capture nearly a quarter of the global pediatric neuroblastoma treatment market.
Product Launches to Act as Key Growth Levers for Market Players
The global pediatric neuroblastoma treatment market consists of the following market players: United Therapeutics Corporation, APEIRON Biologics AG, Baxter, Bayer AG and Pfizer Inc. Their principal marketing strategy is to invest in the development of new products.
Although the COVID-19 pandemic has compelled major companies to downsize their operations, given the fact that most of the staff is now forced to work from home, the prospects for oncological players shall remain positive.
United Therapeutics Corporation, for instance, has entered into separate non-exclusive distribution agreements with Accredo and Caremark to distribute Remodulin, Tyvaso and Orientram in the U.S. Its product portfolio includes Unituxin (Dinutuximab) which is a chimeric monoclonal antibody used to treat severe pediatric neuroblastoma conditions.
Another market player, Baxter manufactures the Cyclophosphamide for Injection USP 500 mg Single Dose. Cyclophosphamide for Injection USP is a sterile white powder containing cyclophosphamide monohydrate. When injected, the powder gets converted into metabolites which inhibit the growth of susceptible rapidly proliferating malignant cells.
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COVID-19 Market Insights:
Though the COVID-19 pandemic appears to largely spare children, practitioners are warning researchers to study the potential impacts the virus can have on pediatric patients in order to find the appropriate response in case of an infection. It is a common understanding amongst medical professionals that the risk of COVID-19 infection can increase in immuno compromised children with cancer, resulting in increased morbidity and mortality.
Most childhood cancers have an aggressive course and require immediate treatment, often involving prolonged durations of intensive multi-agent chemotherapy. Postponement of therapy is therefore not an option.
Realizing the potential risks faced by pediatric neuroblastoma patients, key players in the market are leveraging their research in preventing potential infection of these patients by the novel COVID-19 virus. APEIRON Biologics, an important market player in the pediatric neuroblastoma market, has initiated clinical trials for its APN01 for the treatment of COVID-19. The trial has entered Phase II. The drug candidate is designed to imitate human ACE2 used by the virus to enter host cells to inhibit infection and reduce lung injury.
Pfizer, Inc., another important player in the pediatric neuroblastoma market, is collaborating with BioNTech to co-develop a potential COVID-19 vaccine consisting of mRNA and titled BNT162. Besides this, the company consistently and diligently monitors the supply of its medicines.
Owing over 40 owned sites and 200 distributors globally, Pfizer has adequate capacity to distribute its products. So far, the company has not witnessed disruption in its supply chain, with all of their plants in affected areas being operational. The company has increased production, shifted demand to the most critical products, and authorized overtime at many sites to meet patient needs.
Global Pediatric Neuroblastoma Treatment Market Segmentation
Fact.MR has studied the global pediatric neuroblastoma treatment market with detailed segmentation on the basis of therapy type, distribution channel, and region.
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- North America
- Rest of the World
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Global Pediatric Neuroblastoma Treatment Market- Scope of the Report
The recent study by Fact.MR on global pediatric neuroblastoma treatment market offers a 6-year forecast between 2020 and 2026. The study analyzes crucial trends that are currently determining the growth of the global pediatric neuroblastoma treatment market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders and emerging players associated with the provision of pediatric neuroblastoma treatment. The study also provides dynamics that are responsible for influencing the future status of the global pediatric neuroblastoma treatment market over the forecast period.
A detailed assessment of the global pediatric neuroblastoma treatment market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the global pediatric neuroblastoma treatment market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Pediatric Neuroblastoma Treatment Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in the global pediatric neuroblastoma treatment market across the globe.
A comprehensive estimate of the global pediatric neuroblastoma treatment market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global pediatric neuroblastoma treatment services during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Pediatric Neuroblastoma Treatment Market: Analysis on Market Size Evaluation
The global pediatric neuroblastoma treatment market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for the pediatric neuroblastoma treatment market is available in terms of “US$ Mn” for value. A contrast on prominent pediatric neuroblastoma treatment market segments, in terms of market attractiveness, has also been incorporated in the report.
Global Pediatric Neuroblastoma Treatment Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global pediatric neuroblastoma treatment market report, which have helped deliver projections on regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of the global pediatric neuroblastoma treatment market during the forecast period.
Country-specific valuation on demand for pediatric neuroblastoma treatment has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Global Pediatric Neuroblastoma Treatment Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global pediatric neuroblastoma treatment solutions market along with their detailed profiles. Essential and up-to-date data andinformation related to the market performers, who are principally engaged in the provision of pediatric neuroblastoma treatment solutions, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
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