Neuroblastoma therapeutic offers targeted drug therapies for the treatment of neuroblastoma. Neuroblastoma occurs in early nerve cells and tissues outside of the nervous system. The therapeutic products commonly used for treatment include chemotherapeutic drugs, immunotherapy, vaccines, and other targeted therapies.
The Global Neuroblastoma Therapeutic Market is estimated to be valued at US$ 2.78 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period of 2024-2031.
Key players operating in the Neuroblastoma therapeutic are United Therapeutics, AUM Biosciences, Cellectar Biosciences, Y-mAbs Therapeutics, and Seagen Inc. These key players are involved in developing innovative targeted drug therapies with better response rates and survival rates. Second-line treatment options include bone marrow transplants, surgery, and radiation therapy. However, recurrence of the disease still remains a challenge.
The growing prevalence of neuroblastoma cancer, especially in children, is a major factor driving the growth of the market. According to the Cancer Research UK, around 100 children are diagnosed with neuroblastoma each year in the UK. Furthermore, the rising awareness regarding early diagnosis and availability of various targeted treatment options for neuroblastoma is augmenting the market growth.
The market is also witnessing expansion in terms of availability across different geographical regions. Various pharmaceutical manufacturers are focusing on penetrating untapped emerging markets of Asia Pacific and Latin America owing to high cancer incidence as well as increasing access to healthcare. Furthermore, these companies are also involved in collaborations with local players as well as academic institutions to spread awareness and improve treatment outcomes.
Targeted drug therapies emerging as the key trend in neuroblastoma therapeutic market. Pharmaceutical companies are increasingly investing in developing novel targeted therapies with focus on safety, tolerability and enhanced efficacy. Some of the targeted therapies under research include monoclonal antibodies, antibody-drug conjugates, immune checkpoint inhibitors, chimeric antigen receptor T-cell (CAR-T) therapy and others. CAR T-cell therapy is one of the most promising areas that is anticipated to bring significant breakthrough in the management of high-risk neuroblastoma in the coming years.
Porter's Analysis
Threat of new entrants: Need for extensive R&D and clinical trials pose significant entry barriers for new players.
Bargaining power of buyers: Presence of substitute therapeutics provides bargaining power to buyers.
Bargaining power of suppliers: High degree of specialization required for supplies limits supplier bargaining power.
Threat of new substitutes: Targeted therapies and immunotherapies pose threat of substitution.
Intense competition: Players compete on parameters like innovation, pricing and portfolios.
North America holds the largest share of the neuroblastoma therapeutics market, followed by Europe. This is attributed to factors such as favorable reimbursement policies, rising awareness about neuroblastoma, and increasing healthcare expenditure in the regions.
Asia Pacific is expected to witness the highest growth during the forecast period. This is due to growing disposable incomes, increasing awareness about neuroblastoma, and improving healthcare infrastructure in emerging Asian countries like China and India. Rising patient population due to growing incidence of neuroblastoma will also drive market growth in Asia Pacific.
What Are The Key Data Covered In This Neuroblastoma Therapeutic Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Neuroblastoma Therapeutic's growth between 2024 and 2031.
:- Accurate calculation of the size of the Neuroblastoma Therapeutic and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Neuroblastoma Therapeutic Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Neuroblastoma Therapeutic vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it