The recent COVID-19 pandemic has stalled important businesses across the world, attributed to a shortage in workforce within organizations and increased work-from-home directives. A recent survey, conducted by News Wise, of 1,300 patients with chronic illnesses, including cancer, revealed that their vulnerability to the COVID-19 has increased due to their condition. This increased vulnerability is only anticipated to broaden prospects for cancer treatments especially in children. The global sales of pediatric neuroblastoma treatment is set to embark on a positive growth journey.
The same is applicable for the global pediatric neuroblastoma treatment market. As the number of cases of neuroblastoma rise, so does the demand for its diagnosis and treatment. Doctors are taking precautions to protect cancer afflicted children from the onslaught of COVID-19.The approval of orphan drugs such as CLR 131 Phospholipid Drug Conjugate (PDC), developed by Cellectar Biosciences shall leverage the market during the forecast period (2020-2026), at a staggering CAGR of 9.2%.
Companies are also authorizing streamlining of the production and manufacturing process of important drugs to combat COVID-19. Pfizer, Inc., for example has increased production, shifted demand to the most critical products, and authorized overtime at many sites to meet patient needs.
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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.
“The global pediatric neuroblastoma treatment market is set to embark on a positive growth journey. In spite of the prevalence of the COVID-19 pandemic, the incidence of cancers is not anticipated to reduce in the future, thus prompting key players to continue investing in novel treatment methods,” concludes a Fact.MR analyst.
Key Takeaways of Global Pediatric Neuroblastoma Treatment Market Study:
- By therapy type, the chemotherapy segment is anticipated to account for more than half of the global pediatric neuroblastoma treatment market. Increased usage of chemotherapy drugs such as such as cyclophosphamide, carboplatin and Doxorubicin for neuroblastoma is an important growth driver. Projected CAGR for the segment is a whopping 9.2% during the forecast period.
- Immunotherapy procedures are set to surpass the chemotherapy segment. This is attributed to increased survival rates without relapse or disease progression among children. Moreover, immunotherapy procedures shall be increasingly adopted as they also offer protection from other diseases such as COVID-19. The segment shall expand impressively at a CAGR of 9.9%, accounting for more than a quarter of the market.
- By distribution channel, hospitals shall continue dominating the global pediatric neuroblastoma market, capturing more than three-fifths of the market. High preference given to hospital pharmacies for dispensing specialty medicines owing to presence of trained and experienced health professionals shall leverage the segment’s prospects.
- By region, North America shall dominate the global pediatric neuroblastoma treatment market, growing at an impressive CAGR of 9.0% and capturing over half of the market share. Development of technologically-enhanced products and rising approval of orphan drugs for treatment are attributed as key growth drivers.
- Europe is projected to grow the fastest, owing to increased approval for new drugs, presence of important market players, rising incidences of neuroblastoma and rising awareness of good health. Projections indicate a market share of more than one-fourth of the global pediatric neuroblastoma treatment market.
- In the wake of the COVID-19 pandemic, companies are increasingly leveraging their production capacities to ensure that patients suffering from neuroblastoma do not undergo complications as a result of being infected by the virus. Studies have shown that, fortunately, the COVID-19’s impact is restricted to adults. However, practitioners have urged manufacturers to conduct in-depth research on the virus’s impact on pediatric patients in order to develop a response mechanism should an infection arise.
- APEIRON Biologics, an important market player, has initiated phase II of its APN01 drug for treating the COVID-19 disease. The drug candidate is designed to imitate human ACE2 used by the virus to enter host cells to inhibit infection and reduce lung injury. Likewise, Pfizer Inc., another neuroblastoma player, has collaborated with BioNTech to develop the BNT162 mRNA vaccine for eradicating COVID-19.
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Report Benefits & Key Questions Answered
- Pediatric Neuroblastoma Treatment Category and segment level analysis:Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Pediatric Neuroblastoma Treatment Historical volume analysis: The report provides a comparison of Pediatric Neuroblastoma Treatment’s historical sales and projected sales performance for 2021-2031.
- Pediatric Neuroblastoma Treatment Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Pediatric Neuroblastoma Treatment market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Pediatric Neuroblastoma Treatment Consumption by demographics: The report investigates consumer behavior affecting Pediatric Neuroblastoma Treatment demand outlook for the assessment period. Effect of their keenness for digital trends on Pediatric Neuroblastoma Treatment market is carefully analyzed
- Post COVID consumer spending on Pediatric Neuroblastoma Treatment: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Pediatric Neuroblastoma Treatment market growth.
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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
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 servicesduring the forecast period. Price point comparison by region with global average price is also considered in the study.
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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.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in the global pediatric neuroblastoma treatmentmarket. Prominent manufacturers with established market presence in the global pediatric neuroblastoma treatment marketare United Therapeutics Corporation, APEIRON Biologics AG, Baxter, Bayer AG and Pfizer Inc.
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