At 9.5% CAGR, Pediatric Oncology Market Size to Surpass USD 84.24 Billion by 2030 | Pediatric Oncology Industry New Challenges, Developments, Trends, Revenue, Key Findings, Technology, Expansion Strategies, & Opportunities
The global Pediatric Oncology Market size was USD 37.22 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period, according to latest analysis by Emergen Research.
The rise in juvenile obesity worldwide, the rising incidence of cancer in children, the rise in public knowledge of cancer treatments, and growing R&D spending by pharmaceutical firms are the main drivers of the paediatric oncology market’s revenue growth. Childhood cancer is the term used to describe cancers found in children and young people (those under the age of 15). Today, there are a variety of effective cancer treatment options available, which change according on the kind and stage of the disease. Although it is unknown what causes the majority of instances of juvenile cancer, it is believed that inherited mutations account for 5% of all paediatric cancers.
Additionally, particularly in developed nations, there have been widespread introductions of initiatives to raise awareness of paediatric cancer, and there have been rising government investments to enhance the healthcare system in the paediatric sector. In turn, these elements are anticipated to play a significant job in propelling market expansion in the next years. Due to the introduction of more new products and the expanding number of cutting-edge cancer therapies being developed by pharmaceutical firms, the market is anticipated to grow quickly over the next years.
Some Key Highlights from the Report
- Leukemia, neuroblastoma, brain tumours, retinoblastoma, lymphoma, and others are some of the indications for which the worldwide paediatric oncology market is divided. In 2021, the leukaemia section contributed a sizable portion of revenue. Over one-third of all cancer diagnoses in children and young adults are leukemia-related. The great majority of cases in young individuals are acute lymphocytic leukaemia (ALL), while the vast majority of the remaining cases are acute myeloid leukaemia. Today, 90% of children who are diagnosed with ALL survive for at least 5 years, a huge improvement from decades before. Kids that fit into lower-risk groups typically have a better future. It’s crucial to realise that many children, particularly those in higher-risk groups, can still receive treatment.
- In 2021, the North American market had the biggest revenue share, which may be due to a variety of factors, such as the region’s developed medical infrastructure and the incidence of paediatric neuroblastoma. The growth in scientific collaboration and helpful government measures are to blame for this. Due to its large patient population, enabling legislation, and sophisticated healthcare industry, the U.S. has the biggest share in this sector. Additionally, joint ventures, mergers, and acquisitions are all instances of recent actions performed by significant market participants that will significantly contribute to the industry’s total growth. For instance, on August 25, 2021, the downtown Silver Spring-based United Therapeutics announced a partnership with former NFL great Devon Still and his daughter Leah, a high-risk neuroblastoma survivor.
- New data from Fundació Sant Joan de Déu collaborators that support evaluation of VCN-01, an oncogenic adenovirus expressing hyaluronidase, and topotecan for treatment of refractory retinoblastoma were released on September 30, 2022, according to Synthetic Biologics, Inc., a diversified clinical-stage company that develops therapeutics for diseases with high unmet needs. Oral presentations of preclinical data were made during the SIOP 2022 Congress of the International Society of Pediatric Oncology, which takes place from September 28 to October 1 of that year in Barcelona, Spain.
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Leading Players Profiled in the Report:
United Therapeutics Corporation, APEIRON Biologics AG, Baxter, CELLECTAR BIOSCIENCES, INC, Pfizer, Inc., Bayer AG, MacroGenics, Inc., Sartorius AG, Merck & Co., Inc., BioNTech SE, and Dr. Reddy’s Laboratories Ltd.
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For the purpose of this report, Emergen Research has segmented the global Pediatric oncology market based on indication, treatment, end-use:
- Indication Outlook (Revenue, USD Million; 2019-2030)
- Brain Cancers
- Treatment Outlook (Revenue, USD Million; 2019-2030)
- Tumor Surgery
- Blood & Marrow Transplantation
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Specialty Clinics
- Cancer & Radiation Therapy Centers
The report sheds light on the region expected to dominate the clinical trial software market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the clinical trial software market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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