Wilmington, Delaware, United States, Transparency Market Research Inc.: According to the report, the global glioblastoma multiforme treatment market was valued at US$ 1.61 Bn in 2020 and is projected to expand at a CAGR of 8.1% from 2021 to 2028.
Wilmington, Delaware, United States, Transparency Market Research Inc.: According to the report, the global glioblastoma multiforme treatment market was valued at US$ 1.61 Bn in 2020 and is projected to expand at a CAGR of 8.1% from 2021 to 2028. Glioblastoma multiforme (GBM) is the most common and aggressive type of primary tumor that can occur in brain or spinal cord. Initially, the symptoms of glioblastoma are nonspecific, which may include personality changes, nausea, headaches, and symptoms similar to stroke. Around 133,000 cases of glioblastoma multiforme are reported across the globe each year.
Advancement of drug delivery technologies is projected to be a major factor driving the global glioblastoma multiforme treatment (GBM) market during the forecast period. Moreover, increase in incidence of glioblastoma multiforme treatment (GBM) is anticipated to propel the global glioblastoma multiforme treatment (GBM) market during the forecast period.
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Rise in Burden of Glioblastoma Multiforme Treatment (GBM) to Augment Market
Increase in prevalence of chronic diseases such as cardiovascular diseases, diabetes, and cancer is expected to drive the demand for glioblastoma multiforme treatment (GBM) in the next few years. Survival rate of GBM is poor; very few patients survive for 2.5 to 5 years following diagnosis. According to data published by the Centers for Disease Control and Prevention (CDC), a national public health agency of the U.S., 90% of adult patients with GBM die within 24 months after diagnosis. Moreover, the incidence of GBM ranges from 0.59 to 5 per 100,000 individuals, and it is increasing in multiple countries across the globe. The figures above indicate that the demand for GBM treatment is likely to increase exponentially, which, in turn, is projected to augment the global market.
Radiation Therapy to be Largest Segment
Radiation therapy was the largest segment of the glioblastoma multiforme market in 2020 due to increased survival rates. Radiation therapy can be highly recommended as the first treatment or combined with surgery and chemotherapy. Patients with glioblastoma multiforme disorder live longer when given the combination of radiation therapy and surgery compared to surgery alone. Furthermore, radiation can also be used as the sole treatment when a glioblastoma tumor is in an area, which is not suitable for operative surgery.
The combination of temozolomide, a medication used to treat glioblastoma multiforme, and radiotherapy makes the tumor more sensitive to radiation therapy.
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North America to Dominate Global Market
In terms of region, the global glioblastoma multiforme treatment (GBM) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be a highly lucrative market for glioblastoma multiforme treatment (GBM) during the forecast period. Increase in presence of key manufacturers such as Pfizer, Inc., Amgen, Inc., and Arbor Pharmaceuticals across the region is a major factor driving the market in the region.
The availability of advanced and cutting-edge healthcare infrastructure has aided in the development of drug repurposing for the treatment of glioblastoma multiforme. Moreover, favorable regulatory environment is a key factor propelling the glioblastoma multiforme treatment (GBM) market in North America. A positive legal and regulatory environment facilitates the development and early acceptance of GBM medications.
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Competition Landscape
The global glioblastoma multiforme treatment (GBM) market is fragmented in terms of number of players. Key players in the global market include Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Pfizer, Inc., Amgen, Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Arbor Pharmaceuticals, LLC, Amneal Pharmaceuticals, and Karyopharm Therapeutics, Inc., and Sumitomo Dainippon Pharma Oncology, Inc. (Boston Biomedical, Inc.).
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