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Global Neuroblastoma Market Size was valued at USD 0.45 Billion in 2022. The Neuroblastoma market Diagnosis is projected to grow from USD 0.56 Billion in 2023 to USD 0.67 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2023 - 2032). boosting government financing for research and development programs and spending on research to create more potent medicineB, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The development of the neuroblastoma business is being fueled by higher R&D spending to produce more potent drugs. A rise in the prevalence of neuroblastoma and significant investments in R&D by well-known companies are also fueling the market's revenue growth. Nearly 500 new cases of neuroblastoma are recorded each year, with the condition's incidence rate being 10.2 cases per million kids under the age of 15. In children's neuroblasts under the age of 15, and occasionally even before the child is born, this contributes to genetic disorders. It is anticipated that as the government increases funding and support for this condition and approves new treatments, the market for neuroblastoma will grow.
In the upcoming years, it is anticipated that paediatric neuroblastoma will affect more children and that research and development into pediatric neuroblastoma treatments will expand. According to a National Cancer Institute (NCI) November 2021 update, leukemias are the most common types of cancer in children (ages 0 to 14), followed by brain and other CNS tumors, lymphomas, neuroblastoma, kidney tumors, and malignant bone tumors. The same source anticipated that 15,590 children and teens between the ages of 0 and 19 would be diagnosed with cancer in 2021.
The government's enhanced investment in R&D efforts to improve the paediatric medical infrastructure and the public's growing knowledge of pediatric neuroblastoma therapy are also promoting market expansion. For instance, the Rally Foundation for Childhood Cancer Research awarded grants totaling USD 3.4 million in March 2022 to Drs. Miller Huang and Satyaki Sengupta to study the role of chromosome 17q gain in neuroblastoma and Dr. Muxiang Zhou to find novel MYCN inhibitors of therapy for pediatric neuroblastoma.
Future increases in investments in the construction of the world's healthcare infrastructure, the demand for drugs and therapeutics to treat neuroblastoma, and the introduction of government initiatives to increase awareness of neuroblastoma are all factors that could increase the demand for paediatric neuroblastoma treatment. The potential for market growth will increase as more cutting-edge medications and therapies receive regulatory agency approval until 2033. Thus, driving the Neuroblastoma market revenue.
The global Neuroblastoma market segmentation, based on Diagnosis, includes tests, MIBG scan, imaging, and biopsy. Tests segment dominated the global market in 2022. The effectiveness of neuroblastoma diagnostic tests explains this.
The global Neuroblastoma market segmentation, based on Treatment, includes medications, surgery, chemotherapy, radiation therapy, stem cell transplant, immunotherapy, and monoclonal antibody treatment. Chemotherapy segment dominated the global market in 2022. Anti-cancer medications used in chemotherapy are routinely injected into a vein. After entering the bloodstream, the medications travel throughout the body where they locate and eradicate cancer cells. Chemotherapy can therefore be used to treat neuroblastoma that has spread to the liver, lungs, lymph nodes, bone marrow, liver, or other organs. The effectiveness of chemotherapeutic medications in the treatment of neuroblastoma as well as the increased incidence of the disease in the pediatric population are principally responsible for the segment's increasing growth rate.
The global Neuroblastoma market segmentation, based on End User, includes hospitals and clinics, ambulatory surgical centers, diagnostic centers, research centers, and others. Hospitals and Clinics segment dominated the global Neuroblastoma market in 2022. The fact that hospitals and clinics have been upgraded to provide the best neuroblastoma treatment options might be to blame for this.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Neuroblastoma Market dominated this market in 2022 (45.80%). Both the rise in drugs made using cutting-edge technology and the rise in neuroblastoma instances are responsible for this increase. In 2015, the U.S. spent more than USD 190 billion on cancer-related healthcare, and it was predicted that by 2020, that amount would approach USD 200 billion. As healthcare spending increases and orphan drug applications for the treatment of neuroblastoma are approved, the market is growing. The market's growth is anticipated to be fueled by the increasing number of patients who are receiving chemotherapy and medicines to treat additional disease-related issues. Further, In the North American area, the U.S. Neuroblastoma market had the biggest market share, while the Canada Neuroblastoma market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Europe Neuroblastoma market accounted for the healthy market share in 2022. The market's growth can be partly attributed to the increase in children cancer cases and cancer treatment costs. Additionally, the first anti-GD2 drug approved for the treatment of neuroblastoma is in high demand due to its site-specific activity and absence of harmful effects on the body. The development of cutting-edge, innovative drugs for the treatment of neuroblastoma as well as the region's growing infant population are also encouraging market expansion. Furthermore, increased understanding of the diagnosis and management of neuroblastoma has made it possible to concentrate on new tumor targets for the creation of cell-mediated immunotherapy cancer treatments. Therefore, it is anticipated that these factors will support the market's growth over the predicted timeframe. Further, In the European region, the German Neuroblastoma market had the biggest market share, and the U.K. Neuroblastoma market had the quickest rate of growth.
The Asia Pacific Neuroblastoma market is expected to register significant growth from 2023 to 2032. Most of the market's growth can be attributed to an aging population that is growing and insufficient healthcare infrastructure. The Asia Pacific region is anticipated to be the fastest expanding market due to the existence of emerging nations that are causing a surge in the incidence of children cancer. Estimates predict a loss in the immune system's capacity to fight off any illness as a result of the occurrence of COVID-19. The number of undiagnosed neuroblastoma patients, both young and old, is also anticipated to contribute to the market's expansion. The market is expected to rise as a result of the increasing number of cancer research centers conducting clinical studies for the creation of novel drugs to halt the disease's progress. Moreover, In the Asia-Pacific region, the Indian Neuroblastoma market had the quickest rate of growth while China's Neuroblastoma market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Neuroblastoma market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Neuroblastoma sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Neuroblastoma industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Neuroblastoma sector. Major players in the Neuroblastoma market, including Edwards Lifesciences Corporation, JenaValveTechnology, Inc., Cigna, Abbott, JC Medical, Inc., Medtronic, Xeltis, Venus Medtech, St. Jude Medical, and SYMETIS, are attempting to increase market demand by investing in research and development operations.
United Therapeutics Corp. (United Therapeutics) develops and distributes state-of-the-art pharmacological therapies with a focus on pulmonary arterial hypertension for the treatment of infectious diseases and cardiovascular issues. The company's product line includes prostacyclin analogues such Remodulin (treprostinil injectable), Tyvaso (treprostinil inhalation solution), and Orenitram (treprostinil). The other medications include Adcirca (tadalafil), a phosphodiesterase type 5 (PDE-5) inhibitor, and Unituxin (dinutuximab), a monoclonal antibody used in oncology. Some of its product candidates include monoclonal antibodies (mAbs), glycobiology antiviral medications, and cell-based therapies. The company also develops modified pre-clinical lungs for transplantation. It manufactures items in its Silver Spring, Maryland, facility. It markets its products in Israel, the US, Europe, and South America. The corporate headquarters of United Therapeutics are located in Silver Spring, Maryland, in the US. In November 2018, United Therapeutics Corporation received approval from Health Canada to market Unituxin, a drug used to treat paediatric neuroblastoma with a high risk.
Provectus Biopharmaceuticals, Inc. is a biotechnology company that is currently in the clinical stage. The main goal of the company is to create synthetic small-molecule immuno-catalysts called halogenated xanthenes (HXs) for use as immunotherapy treatments for a range of diseases. Rose Bengal Sulfate (RBS) is the company's primary compound. Preclinical pharmaceutical-grade RBS formulations that are specific to each disease area and/or indication are part of the small molecule HX medical science platform offered by the company. Different dosage and delivery techniques are used in these formulations. The company's HX medical science platform consists of clinical development programs in oncology, dermatology, and ophthalmology as well as in vitro drug discovery programs for infectious illnesses and tissue regeneration and repair. In vivo drug discovery programs for oncology, haematology, wound healing, and animal health are also included. In November 2018, the FDA approved PROVECTUS BIOPHARMACEUTICALS, INC.'s PV-10 small molecule oncolytic immunotherapy for the management of pediatric neuroblastoma.
· Lonza Biologics Ltd PerkinElmer Inc.
· BD Biosciences
· bioMerieux
· Beckman Coulter Inc.
· GE healthcare
· EMD Chemicals Inc. Meridian Life science Inc.
· Shimadzu Biotech
· Takara Bio Inc.
Oct 2019: During the International Society of Paediatric Oncology (SIOP) Annual Congress in Lyon, France, Y-mAbs Therapeutics, Inc. released a clinical update on naxitamab for the treatment of neuroblastoma and osteosarcoma.
October 2022: The clinical trial, which was funded by Kyushu University, was titled "Clinical Trial of GAIA-102 for Refractory/Relapse Neuroblastomas or Malignant Paediatric Solid Tumours With Lung Metastases" and evaluated the safety of GAIA-102 alone in refractory/relapse neuroblastoma or paediatric solid tumors with lung metastases in order to establish a recommended dose for Phase II.
· Tests
· MIBG Scan
· Imaging
· Biopsy
· Medications
· Surgery
· Chemotherapy
· Radiation Therapy
· Stem Cell Transplant
· Immunotherapy
· Monoclonal Antibody Treatment
· Hospitals and Clinics
· Ambulatory Surgical Centers
· Diagnostic Centers
· Research Centers
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.45 Billion |
|
Market Size 2023 |
USD 0.56 Billion |
|
Market Size 2032 |
USD 0.67 Billion |
|
Compound Annual Growth Rate (CAGR) |
3.50% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Diagnosis, Treatment, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Edwards Lifesciences Corporation, JenaValveTechnology, Inc., Cigna, Abbott, JC Medical, Inc., Medtronic, Xeltis, Venus Medtech, St. Jude Medical, and SYMETIS |
|
Key Market Opportunities |
Demand for novel pharmacological therapies with fewer adverse effects |
|
Key Market Dynamics |
Increase in R&D spending to create more effective medications and government's increased investments in R&D initiatives |
The global Neuroblastoma market size was valued at USD 0.45 Billion in 2022.
The global market is projected to grow at a CAGR of 3.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Edwards Lifesciences Corporation, JenaValveTechnology, Inc., Cigna, Abbott, JC Medical, Inc., Medtronic, Xeltis, Venus Medtech, St. Jude Medical, and SYMETIS
The Tests Diagnosis dominated the market in 2022.
The Chemotherapy Treatment had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65334
Published on :
Sep 2023
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