Neuroblastoma Drugs Market Expected to Reach $1.3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Neuroblastoma Drugs Market," The neuroblastoma drugs market size was valued at $0.7 billion in 2022, and is estimated to reach $1.3 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032. The neuroblastoma drugs market include surge in prevalence of neuroblastoma cases, growth in awareness regarding early diagnosis & treatment and rise in initiatives for R&D activities in neuroblastoma.

In addition, ongoing research has led to a deeper understanding of the molecular and genetic basis of neuroblastoma, enabling the development of targeted drug therapies, thereby fueling the neuroblastoma drugs market size. For instance, according to ClinicalTrails.gov in 2023, Y-mAbs Therapeutics sponsored a study of Naxitamab for high-risk neuroblastoma patients with primary refractory disease or incomplete response to salvage treatment in bone and/or bone marrow. 

Furthermore, the neuroblastoma drugs market trends indicates that growing focus on pediatric oncology coupled with increased funding and investments, accelerates neuroblastoma drug development and propel the market growth. Financial support from both public and private sectors facilitates the research and clinical trials needed for new drug candidates. Moreover, orphan drug designation and market exclusivity serve as key drivers for the neuroblastoma drugs market growth. The recognition of neuroblastoma as a rare disease makes it eligible for orphan drug status, providing pharmaceutical companies with valuable incentives to invest in drug development. 

These designations not only confer financial benefits but also streamline the regulatory pathway, expediting the development and approval of neuroblastoma drugs, which further supports the neuroblastoma drugs industry. For instance, in March 2023, Aptorum Group, a clinical-stage biopharmaceutical company, announced the completion of an end of phase 1 (EOP1) meeting with the U.S. Food and Drug Administration. SACT-1 is a repurposed small molecule drug formulated in oral suspension targeting neuroblastoma in pediatric patients and has also received orphan drug designation previously from the U.S. FDA. 

However, the high cost of treatment and side effects of neuroblastoma drugs hamper the market growth. On the other hand, rise in number of pipeline drugs for neuroblastoma and high growth potential in emerging countries provide neuroblastoma drugs market opportunity. 

Depending on the type, the neuroblastoma drugs market analysis is classified into chemotherapy, immunotherapy and others. The immunotherapy segment dominated the neuroblastoma drugs market share in 2022 and is expected to register the highest CAGR during the neuroblastoma drugs market forecast period. This is attributed to the advantages offered by immunotherapy, which harnesses the body's own immune system to combat neuroblastoma cells more effectively. In addition, growth in awareness of the potential benefits of immunotherapy, both among healthcare professionals and the public coupled with ongoing R&D activities in this field drives the demand for immunotherapy and boosts the segment growth. 

Depending on the route of administration, the market is classified into oral and injectable. The injectable segment dominated the neuroblastoma drugs market share in 2022 and is expected to register the highest CAGR during the forecast period. This is attributed to the rise in adoption of injectable drugs as they offer direct and efficient delivery of therapeutic agents, ensuring a targeted approach to cancer cells.

Depending on the distribution channel, the market is classified into online and offline. The offline segment dominated the market share in 2022. This is attributed to well-established offline healthcare infrastructure comprising hospitals, clinics, and pharmacies. Patients often acquire neuroblastoma drugs through these offline channels, where healthcare professionals play a central role in prescribing and dispensing medications. However, the online segment is expected to register the highest CAGR during the forecast period, owing to proliferation of digital health solutions, increase in adoption of e-commerce, and increase in demand for neuroblastoma drugs.

Region wise, North America was the largest shareholder in the neuroblastoma drugs industry in 2022 owing to easy availability of neuroblastoma drugs, governmental initiatives and regulatory support for neuroblastoma, and well-developed healthcare infrastructure. In addition, the strong presence of key players and the rise in adoption of key strategies such as product approval and partnerships drive the market growth in this region. 

However, Asia-Pacific is anticipated to register the highest CAGR during the forecast period owing to increase in awareness of pediatric cancers, growth in healthcare infrastructure, and rise in healthcare expenditures.  In addition, rise in incidences of neuroblastoma, increased funding for research initiatives, treatment facilities, and awareness campaigns or neuroblastoma further drive the market growth in this region.  

Key Findings of the Study  

• By type, the immunotherapy segment was largest contributor to the market in 2022.  

• By route of administration, the injectable segment was largest contributor to the market in 2022.  

• By distribution channel, the offline segment dominated the market in 2022. 

• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.