According to a new report by Future Market Insights, the global nephroblastoma therapeutics market is poised for significant growth, forecasted to expand from a valuation of US$ 2.12 billion in 2023 to an impressive US$ 5.44 billion by 2033. This growth, representing a compound annual growth rate (CAGR) of 9.88%, is driven by several critical factors including increased newborn population, government funding in healthcare, and heightened cancer awareness.
The report highlights key drivers propelling market expansion, notably the surge in global newborn populations and enhanced governmental support for healthcare infrastructure. Additionally, extensive research and development activities focused on cancer and a growing public awareness about the disease are expected to further bolster market growth.
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Despite the optimistic outlook, the market faces challenges such as the high costs associated with cancer treatment and diagnosis. Furthermore, adverse side effects related to cancer therapies could potentially hinder market revenue growth to a certain extent.
However, continuous advancements in cancer research, leveraging modern technology, are set to create substantial opportunities within the market. The ongoing development of novel cancer treatments by key industry players presents lucrative prospects for new entrants in the market. Enhanced international collaborations have also begun to yield results, including the discovery of new genes, biological markers, and therapeutic targets which are expected to benefit diagnostic and therapeutic approaches, particularly in low-income countries.
Geographically, North America is expected to hold the largest revenue share in the global nephroblastoma therapeutics market, attributed to the increasing incidence of nephroblastoma among children in the region. Following closely is the Asia-Pacific region, which is emerging as a significant market due to the rising prevalence of Wilms tumor, spurred by an increase in the newborn population.
This report not only outlines the potential for growth but also emphasizes the shifting dynamics and expanding opportunities within the global nephroblastoma therapeutics market, offering a comprehensive overview for investors, stakeholders, and participants in the healthcare sector.
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.
“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.
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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.
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
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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