Ependymoma Drug Market to Surpass US$ 208.4 Mn by 2030
Global Ependymoma Drug Market, by Drug Type (Corticosteroids, Antiseizure Agents and Others), by Disease Type (Subependymoma, Myxopapillary Ependymoma, Anaplastic Ependymoma and Classic Ependymomas), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Online Pharmacy), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) is estimated to be valued at US$ 143.0 Mn in 2022 and is expected to exhibit a CAGR of 4.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in market include increasing launches of research projects for ependymoma which is expected to drive the growth global ependymoma drug market over the forecast period. For instance, in August 2020, Children's Cancer and Leukaemia Group is an organization focused on childhood cancer launched a new research project aiming to develop a new, non-invasive approach to identify the different types of ependymoma brain tumours funded by Edie’s Butterfly Appeal. Edie’s Butterfly Appeal was set up in 2014 to raise funds for childhood ependymoma, a tumour that grows in the brain or spinal cord, often in very young children (children under 5 years of age).
Global Ependymoma Drug Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, Contract research organization (CROs), and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. An April 2020 study on the Impact of COVID-19 on Clinical Trial Sites conducted by Medidata, a life sciences software provider that supports clinical trials with a primary focus on evidence generation, suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the pandemic, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 have identified persistent impact of COVID-19 pandemic, with over 60% reporting an average or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment. Recently, the U.S. Food and Drug Administration (FDA) guidance (March 2020 and updated July 2020) acknowledged that the impact of COVID-19 may require companies conducting clinical trials to consider virtual patient visits or put new processes in place of current protocols. Therefore, there are now more opportunities for using remote healthcare including conducting virtual or decentralized trials, site-less clinical trials, and use of other non-traditional approaches that do not involve in-person visits.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Ependymoma Drug Market”- Forecast to 2030, Global Ependymoma Drug Market, By Drug Type (Corticosteroids, Immunosuppressive Agents and Others), By Route of Administration (Oral, Topical and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Online Pharmacy) and By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in the Global Ependymoma Drug Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ependymoma-drug-market-5332
Moreover, presence of various social associations, which offer support to the patients with brain tumor is expected to drive the market growth over the forecast period. For instance, The Brain Tumour Foundation of Canada (BTFC) is a national, non-profit organisation dedicated to providing support, education, and information to everyone in Canada affected by a brain tumour, as well as funding brain tumour research.
Key Takeaways of the Global Malaria Vaccines Market:
- Global ependymoma drug market is expected to exhibit a CAGR of 4.8% during the forecast period due to increasing research and development activities for the treatment of ependymoma which is expected to boost growth of market. For instance, in November 2020, scientists in China showed that combining anti-cancer poly [ADP-ribose] polymerase (PARP) inhibitors with radiotherapy may be effective for treating ependymoma Central Nervous System (CNS) Tumors expressing elevated levels of the protein chromosome X open reading frame 67 (CXorf67).
- Among Distribution Channel, Hospital Pharmacy segment is estimated to hold a dominant position in global ependymoma drug market over the forecast period owing to increasing prevalence of ependymoma. For instance according to data published by National Center for Biotechnology Information in January 2020, Myxopapillary ependymomas (MPE) are World Health Organization (WHO) Grade I ependymomas that annually occur in 0.05–0.08 per 100,000 people in the U.S.
- On the basis of the region, Asia Pacific is estimated to exhibit largest CAGR in the global ependymoma drug market over the forecast period, owing to increasing funding for brain cancer drug by government. For instance, in October 2017, The Government of Australia had announced a funding of US $100 million to advance brain cancer research as part of efforts to improve the lives of those affected by the disease.
- Major players operating in the global ependymoma drug market are Fera Pharmaceuticals, Pfizer, Novartis AG, Merck KGaA, Baxter, Cipla Limited, Zydus Cadila, Lupin Pharmaceuticals, Inc., UCB, Inc., APOTEX INC, and Moleculin Biotech, Inc.
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