Glioblastoma Multiforme Treatment Market Detailed Analysis and Forecast to 2030
A rise in the incidences of glioblastoma multiforme, intensified research and development activities, and favorable regulatory scenarios are amongst the reasons expected to drive expansion of the global glioblastoma multiforme treatment market. The availability of a robust pipeline is likely to come up as another significant driver for the glioblastoma multiforme market in the forthcoming years. Over the forecast period, from 2020 to 2030, the rising incidence of brain tumors is anticipated to augment growth of the market in the near future. As per the Global Cancer Observatory, the incidence rate of CNS and brain malignancies was around 308,102 cases in 2020, with 251,329 fatalities. One of the deadliest types of cancer is brain cancer.
The most prevalent type of malignant tumor, glioblastoma multiforme, is likely to account for up to 54% of all gliomas and 16% of all primary brain malignancies. Adults come with a higher frequency of glioblastoma multiforme than children, and the chance of getting the disease increases with age. In the future years, the market is likely to be driven by the rising approval of new therapies and combination therapies.
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The demand for a customized therapeutic method to treat glioblastoma multiforme is predicted to rise due to tumor heterogeneity and variance in patient-to-patient treatment approaches. The acceptance of new therapies is likely to extend the average lifespan of glioblastoma multiforme patients. In addition to that, the FDA's unique classification for experimental medications is anticipated to speed up the approval and marketing of new therapies. These factors are expected to work in favor of the global glioblastoma multiforme treatment market in the years to come.
The “global glioblastoma multiforme treatment market” research makes an inclusion of main market segments such as treatment, drug class, end use, and regional markets. It also examines the global glioblastoma multiforme treatment market's present competitiveness over the forecast period of 2020 to 2030.
Global Glioblastoma Multiforme Treatment Market: Key Trends
When abnormal cells develop and proliferate within the brain, it is called a brain tumor. The global glioblastoma multiforme treatment market is expected to expand due to various factors such as the rising prevalence of brain diseases, significant research and development activities by major companies, and expansion of ageing population. According to Globocan 2018 estimates, there were 296,851 new cases of brain cancer diagnosed worldwide in 2018. As a result, more healthcare professionals are turning to the mainstream therapy connected with glioblastoma treatment. As a result, the rising emphasis on the invention of improved treatment alternatives encourages more cancer chemotherapy-based firms to create novel medicines and expand into new regional markets in order to increase sales of chemotherapy as well as radiation therapy products. The global glioblastoma multiforme treatment market is projected to expand as a result of this aspect.
However, reimbursement difficulties and strict regulatory requirements, as well as the high cost and adverse effects associated with treatments, are likely to limit development of the market in the years to come.
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Global Glioblastoma Multiforme Treatment Market: Competitive Assessment
- The FDA authorized Pfizer's Zirabev, a biosimilar of Avastin, in June 2019 for the purpose of treatment of recurrent glioblastoma, non-small cell lung cancer, and colorectal cancer, amongst many other indications.
Some of the well-known players in the global glioblastoma multiforme treatment market are listed below:
- Teva Pharmaceutical Industries Ltd.
- Sumitomo Dainippon Pharma Oncology, Inc.
- Sun Pharmaceutical Industries Ltd.
- F. Hoffmann-La Roche Ltd.
- Karyopharm Therapeutics, Inc.
- Arbor Pharmaceuticals, LLC
Global Glioblastoma Multiforme Treatment Market: Regional Assessment
In 2020, North America is likely to account for a large chunk of the global Glioblastoma Multiforme Treatment Market in the years to come. increased understanding of rare illnesses, government support for the expansion of the healthcare sector, convenient access to high-quality healthcare facilities, and advantageous reimbursement regulations are all contributing towards the growth of the regional market.
Due to numerous reasons such as increased healthcare expenditure, a growing elderly population, an improved economy, and the introduction of generic temozolomide, Asia Pacific is anticipated to expand at a rapid pace during the projection period, from 2020 to 2030.
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