According to Future Market Insights, the global nephroblastoma therapeutics industry size is projected to rise at a steady growth valued at US$ 2.12 billion in 2023, with a 9.88% CAGR until 2033, being valued at US$ 5.44 billion.
The important factors that are compelling the growth of the revenue of the nephroblastoma therapeutics market are the rapid increase in the population of newborn babies and the rise in funding for healthcare infrastructure and facilities by the government. Also, considerable research and development activities in the cancer disease and an increase in alertness among people regarding cancer are expected to support the market revenue growth.
The rise in cost that is associated with the treatment and diagnosis of cancer acts as a major factor in restraining the revenue growth of the market. Even though the side effects related to the treatment of cancer are also assumed to restrict the revenue growth of the global Wilms market to some extent.
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Major research and development activities in the field of cancer treatment and the usage of modern technology for research purposes are thus expected to create symbolic revenue growth opportunities in the market. Many key players are also working on the development of a novel cancer treatment that is anticipated to create advantageous revenue growth opportunities for new entrants in the market.
Nowadays, improvement in risks has divided the population of patients into small subgroups, which has created the challenge of designing and executing clinical trials that are abundantly powered to demonstrate convenient outcomes. The fruits of augmented international collaboration have begun to realize, the discovery of new genes, biological markers, and therapeutic targets. The benefits of COG-SIOP collaboration will positively translate into the application of evidence-based diagnostic and therapeutic approaches in low-income countries.
North America is also expected to account to have the dominant revenue share in the global nephroblastoma therapeutics market because of the rise in the pervasiveness of the nephroblastoma disease in children, followed by the Asia-Pacific, having a dominant growing market in terms of revenue. This is only due to the rise in prevalence of the Wilms tumor in consideration of a rapid increase in the population of newborn babies in this region.
Key Takeaways from the Market Study:
- The global nephroblastoma therapeutics market grew at a CAGR of 8.88% from 2018 to 2022
- Frequent regulatory approvals for new nephroblastoma treatments are expected to propel the growth of the global nephroblastoma treatment market during the forecast period
- Of 13 children treated with dactinomycin in addition to nephrectomy and postoperative radiotherapy, 92% (12 of 13) are living and free of tumors.
- The market players are focusing on R&D activities for new treatments, which is also expected to augment the growth of the global nephroblastoma treatment market during the forecast period.
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“With chronic kidney problems globally inclining, the scope for nephroblastoma therapeutics is rising tremendously. Numerous clinical trials are being initiated by pharma companies to develop new treatment approaches,” says the FMI analyst.
Competitive Landscape:
Some of the prominent players in the global market for Nephroblastoma Therapeutics Market treatment are-
- Merck & Co., Inc.
- Recordati Rare Diseases
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Cipla Inc.
- Actiza Pharmaceutical Private Limited
- Teva Pharmaceutical Industries Ltd.
- Alvogen
- Accord Healthcare Ireland Ltd.
- Amneal Pharmaceuticals LLC.
Some of the important developments of the key players in the market are:
- In October 2019, Y-mAbs Therapeutics, In. announced a clinical update on naxitamab for the treatment of nephroblastoma at the International Society of Pediatric Oncology Annual Congress held in France.
- In June 2022, Omblastys (Omburtamab) was granted a priority review for a Biologics License Application by the Food and Drug Administration of the United States. The drug was intended to use for the treatment affected by leptomeningeal metastasis caused by nephroblastoma.
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Key Segments Profiled in the Nephroblastoma Therapeutics Market Report:
Type:
- Favorable histology
- Anaplastic histology
Drug type:
- Dactinomycin
- Doxorubicin
- Vincristine
- Cyclophosphamide
- Etoposide
- Irinotecan
Distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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