From 2023 to 2033, the market for drugs for brain tumors is anticipated to grow at a 9.2% CAGR. Market value is anticipated to reach US$ 2.65 billion in 2023 and US$ 6.30 billion in 2033.
The brain tumor drugs market is likely to grow from US$ 2.65 billion in 2023 to US$ 6.30 billion in 2033.
The Growing Use of Targeted Medicines is Putting a Damper on the Brain Tumor Medications Industry
The purpose of targeted cancer therapy is to kill malignant cells while leaving healthy cells alone. This therapy may be more effective than traditional chemotherapy and radiotherapy because it focuses on changes in the cell that are particular to cancer. Everolimus, for example, is a targeted medication that prevents cancer cells from growing and spreading.
Similarly, unlike chemical medications, which cannot block regeneration, Bevacizumab prevents cancer cell regeneration. The increased popularity of targeted therapy is likely to impact sales of conventional chemical brain tumor medications, limiting market growth over the projection period. Companies in the brain tumor market are concentrating on the application of nanotechnology for innovative treatment.
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Nanoparticles are utilized to deliver medications in combination straight to cancer cells or into tumors. This method has also resulted in a reduction in medicine dosage, increased shelf life, and reduced toxicity. A few nano drugs are proven to be effective in crossing the blood-brain barrier, which has been a substantial obstacle in the treatment of brain malignancies.
A brain tumor is an abnormal mass of tissue in which brain cells grow and replicate in an uncontrollable and fast manner. Brain cancers are classified into two types: primary brain tumors and metastatic brain tumors. Primary brain tumors are those that arise from the brain’s tissues or its surrounding tissues.
Pharmaceutical businesses have improved supply chain management, which has increased research and development and investment in quality control and manufacturing.
Key Takeaways
- The brain tumor drugs market is expected to record a CAGR of 9.2% during the forecast period 2023 to 2033.
- The primary drivers of the market are an increase in brain cancer prevalence, the presence of promising pipeline candidates, and an increased need for precision and customized treatment to drive market expansion.
- North America dominated the brain tumor drugs market.
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Key Development in the Brain Tumor Drugs Market
- April 2021 – MindMed and Nextage Therapeutics signed a Memorandum of Understanding (MOU) to maximize the administration of selected psychedelic drug candidates using Nextage’s unique Brain Targeting Liposome System (BTLS) delivery technology.
- March 2021 – Roche and GenMark Diagnostics signed a comprehensive merger agreement for Roche to entirely acquire GenMark for US$ 24.05 per share in an all-cash transaction.
- September 2022 – F. Hoffmann-La Roche Ltd. announced an agreement to acquire Good Therapeutics. With this acquisition, the firm gains access to Good Therapeutic’s platform technology, which is relevant to a wide range of sectors such as cancer, autoimmune illnesses, metabolic disease, and pain management.
- June 2022 – Novartis AG received the United States FDA approval for Tafinlar + Mekinist for the treatment of paediatric and adult patients with solid cancers containing the BRAF V600E mutation. BRAF mutations are responsible for tumor growth in over 20 different tumor types, including brain, thyroid, and others.
- November 2021 – Pfizer Inc. purchased Trillium Therapeutics, a clinical-stage immuno-oncology startup focused on creating novel cancer medicines.
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Key Segment
By Therapy:
- Targeted Therapy
- Chemotherapy
- Immunotherapy
- Others
By Indication:
- Pituitary
- Meningioma
- Glioma
- Others
By Distribution Channel:
- Hospital Pharmacy
- Retail & Online Pharmacy
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