Neuroblastoma Therapeutic Market is driven by rising R&D investments

Neuroblastoma is a rare childhood cancer that forms in certain nerve cells known as neuroblasts. Neuroblastoma most commonly affects children younger than 5 years of age. The neuroblastoma therapeutic market mainly consists of immunotherapy, chemotherapy, and targeted drugs that aim to either destroy or slow the growth of neuroblastoma tumor cells. Immunotherapy involves using the body's immune system to fight Neuroblastoma therapeutics. Chemotherapy uses powerful anticancer medications to kill fast-growing neuroblastoma cells. Targeted drug therapies aim to block the growth and spread of cancer by interfering with specific molecules involved in tumor growth and progression.

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 from 2024 to 2031.



Key Takeaways



Key players operating in the neuroblastoma therapeutic market are United Therapeutics Corporation, Apeiron, Astellas US, Bellicum Pharmaceuticals, and others. United Therapeutics Corporation offers Orenicia, a drug used for the treatment of neuroblastoma.



The demand for neuroblastoma therapeutics is growing owing to the rising incidence of childhood cancer worldwide. According to the American Childhood Cancer Organization, approximately 700 children in the United States are diagnosed with neuroblastoma each year. Additionally, greater public and private investments in scientific R&D are aiding the development of more effective therapies for this rare disease.



Several pharmaceutical companies are rapidly expanding their neuroblastoma product portfolios and global reach through acquisitions and partnerships. For instance, in 2021, Bellicum Pharmaceuticals acquired Sonkei Therapeutics and its clinical stage programs targeting neuroblastoma. This acquisition is expected to accelerate the development of Sonkei's immunotherapies globally.



Market Drivers



Rising R&D investments in neuroblastoma therapeutics is a key driver propelling market growth. Pharmaceutical companies and research organizations are investing heavily to develop innovative targeted drugs and immunotherapies with improved efficacy and safety profiles. According to the Biotechnology Innovation Organization (BIO), global R&D spending in the biopharmaceutical industry increased from $75 billion in 2010 to $182 billion in 2020, indicating significant funding allocated to advancing cancer research, including for rare pediatric malignancies like neuroblastoma. This rise in R&D activity is anticipated to translate into new product approvals over the forecast period, thereby boosting revenue growth of the neuroblastoma therapeutic market.



The current geopolitical situation is significantly impacting the growth of the Neuroblastoma Therapeutic Market. With rising geopolitical tensions and economic uncertainties across many regions, healthcare budgets are coming under increasing pressure. This is negatively affecting the R&D spending and investments in novel therapies for rare cancers like neuroblastoma. Additionally, disruptions in global supply chains and availability of key resources due to geopolitical conflicts are hampering the production and distribution of neuroblastoma drugs. To counter these challenges, companies need to focus on cost-effective biosimilars and collaborations with regional partners. This will help ensure dependable supplies and continued access to therapies for neuroblastoma patients globally.



North America currently accounts for the largest share of the neuroblastoma therapeutic market in terms of value, primarily due to high incidences of neuroblastoma cases and advanced healthcare infrastructure. The availability of favorable reimbursement policies and presence of major market players in the region are complementing the market growth. However, Asia Pacific is emerging as the fastest growing regional market and is expected to witness highest CAGR during the forecast period. This can be attributed to rising healthcare spending, increasing patient population and improvements in diagnostic capabilities across developing countries like China and India.



Europe also captures a sizable revenue share as neuroblastoma contributes significantly to the overall cancer burden in children within the region. Additionally, ongoing clinical research for novel combination therapies and focus on palliative care are propelling the European neuroblastoma therapeutics space. On the other hand, Latin America and Middle East & Africa currently account for a relatively smaller portion of the total market value owing to lower per capita healthcare spending and lack of advanced treatment facilities. Nevertheless, these regions are still expected to showcase moderate growth rates over the next few years.

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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)