Pediatric Oncology Treatment Market: Overview
Childhood cancer is a term used to describe cancer that occurs between birth and 15 years of age. Pediatric cancer is quite rare and may differ from adult cancers in the way they grow. Several cancer treatments are currently available. The type of cancer and stage determine the treatment. The primary cause of childhood cancer is not known; however, researchers assume that 5% of all cancers in children is caused by an inherited mutation. The Children’s Oncology Group (COG) is the world’s largest organization that conducts clinical research to improve the care and treatment of children with cancer.
Pediatric Oncology Treatment Market: Key Trends
Rise in prevalence of cancer, favorable reimbursement scenario, and health care reforms are the major factors that boost the global pediatric oncology treatment market. According to WHO data (2018), cancer is a leading cause of death among children and adolescents across the world; nearly 300,000 children aged between 0 and 19 are diagnosed with cancer each year. Moreover, in 2018, the WHO launched the Global Initiative for Childhood Cancers with various partners to provide proper childhood cancer programs across the world.
Pediatric Oncology Treatment Market: Segmentation
The global pediatric oncology treatment market can be segmented based on indication, treatment, end-user, and region. In terms of indication, the market can be classified into leukemia, bone tumors, brain cancers, retinoblastoma, lymphoma, and others. Leukemia accounts for majority of all pediatric cancers. The segment is projected to dominate the market during the forecast period, as it is the most common childhood cancer. Based on treatment, the global pediatric oncology treatment market can be categorized into chemotherapy, radiotherapy, tumor surgery, and blood & marrow transplantation. The chemotherapy segment is anticipated to account for significant share of the market during the forecast period. Drugs used in chemotherapy can effectively destroy cancer cells. This factor drives the segment. In terms of end-user, the market can be divided into hospitals, specialty clinics, and cancer & radiation therapy centers. The hospitals segment is expected to expand at a high CAGR during the forecast period owing to high patient preference for these settings for cancer treatment.
Pediatric Oncology Treatment Market: Regional Analysis
In terms of region, the global pediatric oncology treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2018. The region is projected to account for significant share of the global market due to well-defined reimbursement policies from public and private health insurance firms which helps patients to avail surgery and other treatment options. According to the National Cancer Institute, in early 2019, around 11,000 new cases of childhood cancer were diagnosed in the U.S. An estimated 6,000 childhood cancer patients succumb to the disease in Europe each year. Asia Pacific is expected to account for significant share of the market in terms of revenue during the forecast period due to rise in awareness about the different treatment options for pediatric.
Pediatric Oncology Treatment Market: Competitive Landscape
Major players operating in the global pediatric oncology treatment market include Royal Children’s Hospital, St. Jude Children’s Research Hospitals, Birmingham Women’s and Children’s, the National Center for Child Health and Development, the Vanderbilt University Medical Center, St. Louis Children’s Hospitals, and SSM Health.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.