The latest market research report on the global brain tumor treatment market reveals promising growth projections, with a forecasted market value of USD 3,114.2 million by 2023, surging to an impressive USD 6,228.2 million by 2033. This marks a compound annual growth rate (CAGR) of 7.2% during the forecast period.
The brain tumor treatment market’s robust growth can be attributed to several key factors. The escalating prevalence of brain malignancies worldwide is a significant driver, coupled with the expanding elderly population, which is more susceptible to such conditions. These factors are propelling the demand for advanced and effective therapies, ensuring that the market remains dynamic and progressive.
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Brain tumors, characterized by abnormal tissue masses resulting from uncontrolled growth of brain cells, pose a significant health challenge globally. Primary brain tumors, constituting the majority of cases, are particularly prevalent. For instance, according to a recent study published in the Cancer Journal for Clinicians, approximately 83,570 individuals in the United States were diagnosed with brain tumors in 2021, with primary tumors accounting for 70.3% of cases.
The rise in brain tumor incidence can be attributed to several factors, including the growing aging population, higher rates of smoking, and increased exposure to electromagnetic radiation.
“As the prevalence of brain tumors continues to rise, fueled by demographic shifts and lifestyle factors, there is an urgent need for innovative treatment solutions,” commented FMI. “Our findings underscore the importance of ongoing research and development efforts to address this pressing public health concern.”
The report offers comprehensive insights into market trends, competitive dynamics, and key growth drivers shaping the global brain tumor treatment landscape. It serves as a valuable resource for stakeholders, including healthcare providers, pharmaceutical companies, policymakers, and investors, seeking to capitalize on emerging opportunities in this rapidly evolving market.
Top Highlights from the FMI’s Analysis of the Brain tumor treatment industry:
- North America’s brain tumor treatment industry has a massive stake in the market. In 2022, the region represented 34.2% market share, suggesting significant investment opportunities in the market.
- Europe garnered a 24.2% value share in 2022 and is expected to observe an expansion in market size in the upcoming years. Surging investments in the healthcare sector and increasing cases of brain tumors are expected to attract key players in this market.
- The United States’ stake in the market is significantly high, i.e., 30.2%. Increasing medical tourism to seek top-quality healthcare services is projected to accelerate market growth.
- Germany held 5.1% of the market in 2022. The prominence of the country in Europe and the world over and the widespread prevalence of cancer cases have opened significant revenue-generating prospects for market participants.
- China is expected to be the robust market for brain tumor treatment in the forecast period, luring manufacturers to expand and build capacities in the country.
- India is another key market for brain tumor treatment in terms of CAGR. Over the forecast period, India is expected to observe a CAGR of 7.2%.
- The United Kingdom registered a CAGR of 5.1% over the forecast period.
- Based on product, the temozolomide segment captured 25.6% of the market share in 2022.
- Under the category of end users, the hospital pharmacies segment gained a massive share of 44.8% in 2022.
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Key Developments in the Market:
- To maximize the administration of certain psychedelic drug candidates, Nextage Therapeutics and MindMed signed an MOU in April 2021 that ascertains deployment of the patented Brain Targeting Liposome System (BTLS) delivery technology.
- GenMarkDiagnostics and Roche came into a definitive merger agreement in March 2021 for Roche to entirely obtain GenMark for a value of USD 24.05 per share in an all-cash transaction.
Key Companies Profiled:
- Genentech USA
- Bristol Myers Squibb
- Hoffmann- La Roche
- AstraZeneca Plc.
- Pfizer Inc.
- Novartis AG
- Antisense Pharma
- Merck & Co
- MacLeod’s Pharmaceutical Limited
- Mankind Pharma
- Siemens Healthineers AG
- Dr. Reddy’s Laboratories Ltd.
Key Segments Covered in the Brain Tumor Treatment Industry Analysis:
By Product:
- Temozolomide
- Carmustine
- Cisplatin
- Bevacizumab
- Geftinib
- Erlotinib
By End User:
- Hospital Pharmacies
- Ambulatory Surgical Centers
- Individual Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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