The global brain tumor treatment market is set for remarkable expansion, with the latest research indicating a surge from USD 3,114.2 million in 2023 to an impressive USD 6,228.2 million by 2033. This robust growth, reflecting a compound annual growth rate (CAGR) of 7.2%, underscores the sector’s dynamic evolution and increasing demand for advanced therapeutic solutions.
Several key factors are driving this notable market growth. The rising prevalence of brain malignancies worldwide, coupled with an aging population particularly vulnerable to such conditions, has intensified the need for innovative and effective brain tumor therapies. This heightened demand is propelling the market forward as it adapts to meet the evolving needs of patients and healthcare providers.
Brain tumors, characterized by abnormal tissue masses resulting from uncontrolled cell growth in the brain, present a significant global health challenge. Primary brain tumors, which account for the majority of cases, are especially prevalent. 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 comprising 70.3% of these cases.
The increasing incidence of brain tumors can be attributed to several factors, including an aging population, rising smoking rates, and heightened exposure to electromagnetic radiation.
“As the prevalence of brain tumors escalates, driven by demographic shifts and lifestyle changes, the need for innovative treatment solutions becomes more urgent,” stated a representative from FMI. “Our findings highlight the critical importance of ongoing research and development to address this pressing public health issue.”
The comprehensive report offers valuable insights into market trends, competitive dynamics, and key growth drivers shaping the global brain tumor treatment landscape. It serves as an essential resource for stakeholders, including healthcare providers, pharmaceutical companies, policymakers, and investors, who are looking to capitalize on 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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