The global Brain Tumor Treatment Market is expected to exhibit opulent growth opportunities from 2022 to 2032, with a robust CAGR of 7.2%. The market was valued at US$ 2,946.17 Million in 2022 and is expected to reach a market value of US$ 5,904.82 Million by 2032.
One of the key drivers driving market growth is the increase in cancer cases and the growing geriatric population. During the forecast period, the brain tumour treatment market is expected to grow at a healthy 7.2% CAGR. According to FMI reports, market sales increased at a steady CAGR of 6.8% from 2017 to 2021.
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According to a 2016 statistical report, the Central Brain Tumor Registry of the United States (CBTRUS) estimated that in 2020, 79,270 new cases of primary malignant, non-malignant, and other CNS cancers would be diagnosed in the United States. The increase in brain cancer cases around the world is expected to drive demand for brain tumour diagnosis/treatment throughout the forecast period (2022-2032).
Key Takeaways
- There have been tremendous technological advancements in the healthcare industry over the last few years, as a result of which advanced treatments for every disease are providing effective results. Accelerating oncology research activities and rising adoption of advanced cancer treatments are expected to drive market growth.
- When compared to other types of tumours, glioblastoma multiforme is thought to be the fastest growing and highest-grade tumour. Brain tumour treatment has become more effective as a result of advanced medications. Over the forecasted period, increasing pharmaceutical R&D spending is expected to provide lucrative growth for the global brain tumour treatment market.
- The increased prevalence of brain tumours has increased the demand for effective treatment. According to the American Society of Clinical Oncology (ASCO), the incidence of brain tumours has increased by 2.6% over the previous year. In the United States, an estimated 22,850 people are diagnosed with primary cancerous tumours of the brain. In addition, the growing geriatric population is driving the brain tumour market.
- A significant portion of key market participants’ revenue is spent on research and development of novel medications. The FDA is currently reviewing a number of novel drug delivery technologies. With these brisk advancements, the brain tumour treatment market is poised for explosive growth.
- The global brain tumour treatment market is expanding due to rapid technological advancements and increased customer awareness of the most recent treatment options and therapies.
- North America is expected to capture the largest share due to advanced healthcare facilities and significant investment in the research programme to find an effective treatment for brain tumours.
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Competitive Landscape
Genetech U.S.A, 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. are some of the key companies profiled in the full version of the report.
The leading market players are spending a major portion of their revenue on research and development of novel drugs which is increasing clinical trials. The encouraging healthcare policies and smooth drug approval program by FDA is another aspect driving the market for brain tumor treatment.
More Insights into the Brain Tumor Treatment Market
The North American region is anticipated to dominate the global brain tumor treatment market by accounting for a 34% share in the global market. Owing to increasing incidences of glioblastoma coupled with technological advancements have led to a surge in the North American brain tumor treatment market.
Propelling healthcare infrastructure, greater per capita healthcare spending, and comparatively higher awareness regarding advanced technologies are certain to impact rendering factors. In addition to that, the presence of advanced healthcare facilities and innovative research centers is yet another prominent reason for fueling the demand for brain tumor treatment & therapeutics.
Europe is anticipated to have a significant contribution to this space over the forecast period, which can be attributed to the increasing prevalence of malignant cancers in countries like the U.K. For instance, as per statistics provided by the Office for National Statistics, UK, in 2021, around 11,000 new cases were registered in the region.
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Key Segments Covered in the Brain Tumor Treatment Industry Analysis
Brain Tumor Treatment Market by Product:
- Brain Tumor Treatment via Temozolomide
- Brain Tumor Treatment via Carmustine
- Brain Tumor Treatment via Cisplatin
- Brain Tumor Treatment via Bevacizumab
- Brain Tumor Treatment via Geftinib
- Brain Tumor Treatment via Erlotinib
Brain Tumor Treatment Market by End User:
- Brain Tumor Treatment in Hospital Pharmacies
- Brain Tumor Treatment in Ambulatory Surgical Centers
- Brain Tumor Treatment in Individual Pharmacies
Brain Tumor Treatment Market by Region:
- North America Brain Tumor Treatment Market
- Latin America Brain Tumor Treatment Market
- Europe Brain Tumor Treatment Market
- Asia Pacific Brain Tumor Treatment Market
- Middle East & Africa Brain Tumor Treatment Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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