The global brain tumor treatment market is set for impressive expansion, with the latest research projecting a market value of USD 3,114.2 million in 2023, escalating to an impressive USD 6,228.2 million by 2033. This growth reflects a compound annual growth rate (CAGR) of 7.2% over the forecast period, highlighting the sector’s dynamic progress.
This robust market growth is driven by several pivotal factors. A notable increase in the prevalence of brain malignancies worldwide, combined with a growing elderly population—which is particularly susceptible to such conditions—has significantly heightened the demand for advanced and effective brain tumor therapies. As a result, the market continues to evolve, adapting to meet the needs of patients and healthcare providers alike.
Brain tumors, which involve abnormal tissue masses due to uncontrolled cell growth in the brain, represent a significant global health challenge. Primary brain tumors, which account for the majority of cases, are especially prevalent. According to a 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 representing 70.3% of these cases.
Several factors contribute to the rising incidence of brain tumors, including an aging population, increased smoking rates, and heightened exposure to electromagnetic radiation.
“As the prevalence of brain tumors escalates, driven by demographic changes and lifestyle factors, the need for innovative treatment solutions becomes increasingly urgent,” commented a representative from FMI. “Our findings emphasize the critical importance of continued research and development to address this pressing public health issue.”
The comprehensive report provides valuable insights into market trends, competitive dynamics, and key growth drivers influencing the global brain tumor treatment landscape. It serves as a crucial resource for stakeholders, including healthcare providers, pharmaceutical companies, policymakers, and investors, who are looking to seize 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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