EPENDYMOMA DRUG MARKET ANALYSIS

Ependymoma Drug MarketSize and Trends

Global ependymoma drug market is estimated to be valued at US$ 143.0 million in 2022 and is expected to exhibit a CAGR of 4.8%during the forecast period (2022-2030).

Increasing prevalence of ependymoma is expected to drive the market growth during the forecast period.

Increasing prevalence of ependymoma is expected to drive the global ependymoma drug market growth over the forecast period. For instance, according to data published by American Society of Clinical Oncology in January 2022, ependymoma occurs most often in young children, accounting for about 5% of all childhood brain cancers. Approximately 250 children and teens under the age of 19 in the U.S. would be diagnosed with ependymoma in 2022.

Figure 1.Global Ependymoma Drug Market Share (%) in Terms of Value, By Drug Type, 2022

Increasing product approvals for the treatment of ependymoma from regulatory authorities are expected to drive the market growth during the forecast period

Increasing product approvals for the treatment of ependymoma which is expected to drive the global ependymoma drug market growth during the forecast period. For instance, in April 2021, Moleculin Biotech, Inc., a clinical stage pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had granted Rare Pediatric Disease Designation (RPD) to its p-STAT3 inhibitor, WP1066, for the treatment of ependymoma.

Global Ependymoma Drug Market– Impact of Coronavirus (COVID-19) Pandemic

The supply of raw materials required for production of pharmaceuticals has been severely disrupted due to the forced quarantine and lack of labor during the COVID-19 pandemic. As the link between regional warehouses is not smooth, transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components has negatively affected the supply chain of the global ependymoma drug market. Thus, the COVID-19 pandemic is expected to have a negative impact on supply chain of ependymoma drug market. According to an article published by the Exploratory Research in Clinical and Social Pharmacy journal in June 2021, a study was carried out to evaluate the impact of COVID-19 on pharmaceutical systems and supply chain in resource-limited countries in Sub-Saharan countries such as Namibia. This study revealed negative impact on availability and access of essential drugs, sanitation and hygiene products, and antimicrobials. Most pharmaceutical companies and pharmacies in Namibia experienced delayed manufacturing and distribution of drugs, which is attributed to reduced inter-country transportation of pharmaceutical goods and limited in-country capacity to manufacture drugs. For instance, according to a review article published by the European Pharmaceutical Review Journal in November 2020, COVID-19 pandemic has caused major challenges with respect to drug shortages and increased manufacturing costs across the globe. Moreover, the same source stated that COVID-19 pandemic has also led to problems such as stockpiling drugs, transportation delay, and others. Some measures that can be taken to ease the supply of pharmaceuticals during the pandemic include next generation technologies such as digital network platforms designed to work across multiple pharmaceutical enterprises and ensure the timely delivery of drugs to patients across the globe.

Figure 2.Global Ependymoma Drug Market Share (%), By Distribution Channel, 2022