Neuroblastoma Drugs Market to Reach $1.3 Billion, Globally, by 2032 at 6.2% CAGR: Allied Market Research

News provided by

Feb 26, 2024, 10:01 ET

Rise in the prevalence of neuroblastoma, growth in awareness and initiatives taken by the government for neuroblastoma, and rise in R&D activities drive the growth of the global neuroblastoma drugs market.

PORTLAND, Ore., Feb. 26, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Neuroblastoma Drugs Market Size, Share by Type (Chemotherapy, Immunotherapy, and Others), Route of Administration (Oral and Injectable), and Distribution Channel, (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global neuroblastoma drugs industry generated $0.7 billion in 2022 and is anticipated to generate $1.3 billion by 2032, witnessing a CAGR of 6.2% from 2023 to 2032.

Request Sample of the Report on Neuroblastoma Drugs Market Forecast - https://www.alliedmarketresearch.com/request-sample/A172697

Prime determinants of growth

Surge in the prevalence of neuroblastoma, growth in awareness and initiatives taken by the government for neuroblastoma and increase in R&D activities for neuroblastoma drugs are the factors that drive the growth of the global neuroblastoma drugs market. However, adverse effects and safety concerns for neuroblastoma drugs restrict the market growth. Moreover, growth opportunities in emerging markets and rise in the number of pipeline products are expected to present new opportunities in the coming years.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size In 2022	$0.7 Billion
Market Size In 2032	$1.3 Billion
CAGR	6.2 %
No. Of Pages In Report	256
Segments Covered	Type, Route Of Administration, Distribution Channel, and Region
Drivers	Rise In The Prevalence Of Neuroblastoma
	Growth In Awareness And Initiatives Taken By The Government For Neuroblastoma
	Rise In R&D Activities
Opportunities	Growth Opportunities In Emerging Market
	Rise In Number Of Pipeline Products
Restraint	Adverse Effects And Safety Concerns

Recession Impact

During a recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This can affect patients' ability to access and afford neuroblastoma drugs, potentially leading to decreased demand for neuroblastoma drug products.
However, the surge in prevalence and incidences of neuroblastoma, rise in the number of pipeline drugs, and growth in awareness about early diagnosis & treatment boost the need for neuroblastoma drugs that are experiencing a moderately positive impact from the global recession.

Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/A172697

The immunotherapy segment to maintain its leadership status throughout the forecast period

By type, the immunotherapy segment held the largest market share in 2022, accounting for half of the global neuroblastoma drugs market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is expected to register the highest CAGR of 7.1% during the forecast period. This is attributed to the high adoption of immunotherapy drugs due to their effectiveness, favorable safety profile, and ongoing research initiatives for immunotherapy drugs.

The injectable segment to maintain its leadership status throughout the forecast period

By route of administration, the injectable segment held the largest market share in 2022, accounting for more than four-fifths of the global neuroblastoma drugs market revenue. This segment is expected to register the highest CAGR of 6.3% during the forecast period. This is attributed to the efficiency and precision of drug delivery, flexibility in treatment regimens, and ongoing advancements in drug delivery technologies.

For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/A172697

The offline segment to maintain its lead position during the forecast period

By distribution channel, the offline segment accounted for the largest share in 2022, contributing to more than four-fifths of the global neuroblastoma drugs market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the well-established offline healthcare infrastructure comprising hospitals, clinics, and pharmacies and rise in the adoption of neuroblastoma drugs through offline mode.

However, the online segment is expected to register the highest CAGR of 8.2% during the forecast period. This is attributed to the proliferation of digital health solutions, surge in adoption of e-commerce, and rise in demand for neuroblastoma drugs through digital platforms.

North America to maintain its dominance by 2032

By region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global neuroblastoma drugs market revenue and is expected to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, easy availability of neuroblastoma drugs, governmental initiatives and regulatory support for neuroblastoma.

However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.6% from 2023 to 2032. This is attributed to growth in awareness of pediatric cancers, surge in incidences of neuroblastoma, and rise in healthcare expenditures.

Leading Market Players

Recordati Group
AstraZeneca PLC
Bristol-Myers Squibb Company
Cellectar Biosciences Inc.
Eli Lilly And Company
Macrogenics Inc.
Pfizer Inc.
Teva Pharmaceutical Industries Ltd.
United Therapeutics Corporation
Y-mabs Therapeutics Inc.

The report provides a detailed analysis of these key players in the global neuroblastoma drugs market. These players have adopted strategies such as agreement, acquisition, partnership, and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
Int'l: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter