Pediatric Cancer Treatment Drugs Market size is poised to witness lucrative growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing occurrence of cancer among children, and rising prevalence of childhood obesity across the globe. According to the World Health Organization (WHO), as of December 2021, every year, an estimated 400,000 children and adolescents of 0-19 years old in the world develop cancer. Along with these, there is an extensive launch of initiatives to spread awareness about pediatric cancer, especially in developed nations, coupled with growing investments by government to develop the medical infrastructure in the pediatric section. These, are in turn are expected to drive market growth significantly in the upcoming years. Furthermore, escalating product launches and development of novel cancer treatments by pharmaceutical companies are projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
The market is segmented by indication into leukemia, bone tumors, brain cancers, retinoblastoma, lymphoma, and others, out of which, the leukemia segment is anticipated to hold the largest share in the global pediatric cancer treatment drugs market. This can be accounted to the high occurrence of cancers of bone marrow and blood among children all around the world. Additionally, on the basis of treatment, the chemotherapy segment is predicted to grab the largest share during the forecast period, which can be credited to the high effectiveness of chemotherapy drugs in pediatric cancer treatment. Apart from this, chemotherapy, along with radiotherapy are used as a first-line radical therapy in a number of pediatric oncology, which is also assessed to boost the market segment growth in the future.
Our in-depth analysis of the global pediatric cancer treatment drugs market includes the following segments:
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By Indication |
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By Treatment |
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By End User |
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APAC Market Statistics
Regionally, the global pediatric cancer treatment drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is poised to dominate majority revenue share by 2036, ascribed to increasing government investments to enhance the medical infrastructure, and rising awareness about different treatment options in pediatric oncology. As per the World Bank, the health expenditure of China stood at 5.351% of the total GDP in the year 2018, up from 5.151% and 4.982% in 2017 and 2016 respectively.
North America Market Analysis
Moreover, the market in North America is expected to occupy the largest share during the forecast period owing to the favorable reimbursement from public and private health insurance firms in the region. In addition, increase in the number of research partnerships among companies is also projected to drive market growth in the region in the coming years.
August 2021- Epizyme and HUTCHMED announced a strategic collaboration for the development and commercialization of TAZVERIK, a drug for treating pediatric cancers, in Greater China.
April 2021- Amgen’s BLINCYTO demonstrated prolonged event-free survival as compared to consolidation chemotherapy in pediatric patients suffering from relapsed acute lymphoblastic leukemia.
Author Credits: Radhika Pawar
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