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I AgreeAnalysis of Glioblastoma Multiforme Treatment market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global sales of the Glioblastoma Multiforme Treatment Market in 2021 was held at US$ 2.6 Billion. With 10.1%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth.
Radiation Therapy is expected to be the highest revenue generating segment, accounting for an expected CAGR rate of 10.9% during 2022 – 2032.
Report Attributes |
Details |
Forecast Period |
2022-2032 |
Historical Data Available for |
2017-2021 |
Key Market Segments Covered |
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Key Companies Profiled |
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As per the Glioblastoma Multiforme Treatment Markets research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Glioblastoma Multiforme Treatment Markets increased at around 8.1% CAGR.
Glioblastoma multiforme's rising prevalence, more R&D, and favourable regulatory scenarios are among the reasons expected to drive market expansion. Over the forecast period, the rising incidence of brain tumours is expected to enhance market growth.
According to the Global Cancer Observatory, the global incidence of brain and CNS malignancies cases were as high as 308,102 in 2020, with 251,329 fatalities. Glioblastoma multiforme, the most prevalent type of malignant tumour, accounts for around 54% of gliomas and 16% of all primary brain malignancies. Adults have a higher incidence of glioblastoma multiforme than children, and the chance of having the disease increases with age. The rising confirmation that targeted therapy and healing treatment are probable to propel the glioblastoma multiforme drug market in the near-term.
There is greater demand for customized treatments for glioblastoma multiforme vesicles because there are a lot of different approaches to treating it and because each patient will require a different treatment. The approval of new oncology drugs is expected to increase the life expectancy of glioblastoma multiforme patients. Furthermore, the FDA's designation process for new therapy processes is likely to boost the speed of recording new therapies and considerably shorten their cycle to becoming approved and marketed.
The existing glioblastoma multiforme treatment provider companies are willing to acquire new companies with pipeline products to diversify their product portfolio. Various initiatives taken by governments and non-government organisations around the world to raise awareness by educating people living with glioblastoma multiforme and further raising funds for R&D activities and treatment; which is expected to drive the market growth during the forecast period.
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Due to tumour heterogeneity and variation in patient-to-patient treatment techniques, the demand for a customised therapeutic method to manage glioblastoma multiforme is expected to grow. Patients with glioblastoma multiforme are likely to live longer as new treatments are approved.
Furthermore, the FDA's special classification for investigational drugs is expected to hasten the approval and marketing of innovative therapeutics. One of the important reasons driving market expansion is the rising frequency of oncological diseases and a growing elderly population around the world. Furthermore, the advancement of improved therapeutic strategies to combat the resistant qualities of glioma stem cells is favourably impacting market growth.
On the other hand, increased R&D operations in molecular biotechnology and gene therapy for cancer and associated diseases have aided the creation of a variety of biological treatments. These medications help to reduce the negative effects of current treatment modalities, allowing patients to accept them more readily. Besides, actions taken by several governments around the world to improve healthcare infrastructure as well as increased awareness of the availability of various therapies, are projected to boost the market's prospects.
In 2021, with over 40% share North America held the largest share of glioblastoma treatment market. Government support for the healthcare sector's development, high level of awareness about rare disorders, easy access to high-quality medical facilities, and attractive reimbursement policies are some of the important drivers driving regional market growth.
Due to several factors such as the introduction of generic temozolomide, the improving regional economy, growing geriatric population, and increased healthcare investment, the market in Asia Pacific is expected to grow at the fastest rate throughout the projection period. The presence of substantial unmet demands in the market, rising awareness of glioblastoma multiforme treatment, and a robust pipeline are all contributing to regional market growth.
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The United States is expected to have the largest revenue of US$ 2.9 Billion by the end of 2032. In recent years, the industry has been growing rapidly owing to support from the healthcare governing authorities in the country.
For instance, in October 2019, the FDA granted Denovo Biopharma, a San Diego-based biotech company, clearance for its phase 2b clinical trial assessing an analytical combination medication for the treatment of newly diagnosed glioblastoma multiforme patients in October 2019. Their DB102 therapy has been cleared for a study to see how effective it is when used in conjunction with temozolomide (Temodar) and radiation.
Among treatments, revenue through Radiation Therapy is expected to have the highest CAGR of 10.7%. Radiation therapy can be used as a stand-alone treatment or in conjunction with chemotherapy and surgery. In the event of a recurrence of brain tumour, it is also beneficial and highly recommended. When temozolomide is used with radiotherapy, the tumour becomes more sensitive to radiation. Thus the combination of treatments is more successful than radiotherapy alone.
The most common treatment for GBM is surgery, which is followed by radiation therapy and chemotherapy. This treatment regimen is widely considered as gold standard. In addition, the growing usage of targeted therapy to treat glioblastoma multiforme treatment is likely to drive segment growth throughout the projection period. Besides, rising research initiatives to find novel targeted therapies for the condition are expected to propel the segment forward.
Increases in patient-centric, non-invasive therapies, such as external beam radiation therapy and tumor-associated therapies, are anticipated to fuel the growth of the medical treatment service industry. For example, the delivery of treatment for brain tumors at Johns Hopkins Medicine integrates technologies such as radiation therapy, tumor-treating field therapy, and other approaches.
Revenue through Hospitals is expected to account for over half of the Glioblastoma Multiforme Treatment market by 2032, with an astounding forecast CAGR of 12%. Hospitals are preferred by patients in terms of treatment accessibility and convenience. Moreover, the high number of surgeries performed to manage glioblastoma multiforme treatment and the complexity associated with the treatment are anticipated to drive the market.
The unexpected breakout of COVID-19 around the globe has had a significant influence on the treatment of recurrent glioblastoma multiforme and other malignancies. Patients were unable to get radiotherapy, chemotherapy, or health monitoring in health and surgery centers. The pandemic also damaged the worldwide pharmaceutical supply chain, making treatment for patients with recurrent glioblastoma multiforme more difficult to get.
To obtain a competitive advantage, key companies in the glioblastoma multiforme treatment market are focused on R&D to offer distinguished services. Besides, mergers and acquisitions, as well as licencing and collaborations, are being pursued by the key companies in order to increase their product portfolio, extend their manufacturing facilities, and create competitive distinctiveness.
Some of the key players operating in glioblastoma multiforme treatment market include Merck & Co., Inc., Amgen, Inc.,F. Hoffmann-La Roche Ltd.,Pfizer Inc., Amgen, Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Arbor Pharmaceuticals, LLC, Amneal Pharmaceuticals,Karyopharm Therapeutics, Inc., and Sumitomo Dainippon Pharma Oncology, Inc.
Some of the recent developments of key Glioblastoma Multiforme Treatment providers are as follows:
Similarly, recent developments related to companies offering Glioblastoma Multiforme Treatment have been tracked by the team at Fact.MR, which are available in the full report.
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The global Glioblastoma Multiforme Treatment Market is worth more than US$ 2.6 Billion at present.
The value of Glioblastoma Multiforme Treatment Market is projected to increase at a CAGR of around 10.1% during 2022 – 2032.
The increasing approval for novel therapy and combination therapy is expected to increase the life expectancy of patients living with glioblastoma multiforme. This is consequently expected to impact the glioblastoma multiforme treatment market.
The market for Glioblastoma Multiforme Treatment Market in China is projected to expand at a CAGR of around 10.5% during 2022 – 2032.
While the market in South Korea is expected to grow at nearly 10.7%, the market in Japan is projected to register a CAGR of nearly 12.8% during 2022 - 2032.
The value of Glioblastoma Multiforme Treatment Market increased at a CAGR of around 8.1% during 2017 – 2021.