Glioblastoma Multiforme Treatment Market Outlook 2031:
The global glioblastoma multiforme treatment market size was valued at USD 2.46 Billion in 2022 and is projected to reach USD 5.66 Billion by 2031, expanding at a CAGR of 9.7% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing cases of oncology diseases and growing geriatric population globally.
Glioblastoma (GBM) is the most common type of primary tumor of the central nervous system (CNS), affecting predominantly adults. Poor diagnosis has not improved considerably despite there has been rapid development of new therapeutics and innovative diagnostic tools. Moreover, somatic evolution supports cancer progression by causing the cancer cell's genome to diverge from healthy cell due to the mutations.
Furthermore, GBM has a remarkable progression caused by a complex network of molecular and genetic abnormalities. GBMs are hazardous in nature as they disseminate widely throughout the parenchyma, making maximal surgical resection impossible and having a high level of vascularization.
However, various comprehensive treatments such as surgery, chemotherapy, and radiation, patients with GBM have a median survival period of only 14.6 months. Radical tumor excision is not curative due to its high invasiveness.
Furthermore, according to varied experimental data, GBM has a fraction of highly tumorigenic cells from which recurrent GBM is assumed to derive and it has the ability to develop into several tumor genesis lineages.
Due to the COVID-19 pandemic outbreak, the glioblastoma multiforme treatment market is adversely impacted. However, all major precautions are taken to treat GBM, followed by prescribed guidelines.
Alternatively, patients are encouraged telemedicine consultation for follow-ups, and hospitals & clinics are minimizing the contacts between patients & staffs for the treatment.
Glioblastoma Multiforme Treatment Market Trends, Drivers, Restraints, and Opportunities
- Increasing government measures to expand the industry and encouraging regulatory policies are likely to upsurge the market growth in the coming years.
- Rising R&D activities in molecular biotechnology and gene therapy for the treatment of central nervous system associated disorders and cancer are anticipated to fuel the market growth.
- Lack of reimbursement policies and high cost involved treatment procedure are expected to restrain the market growth.
- Various side effects associated with therapies are one of the key restraining factors challenging the market growth.
- Increasing collaboration among key healthcare companies and research institutes to develop advanced therapies for hematologic malignancies, which is projected to expand the market growth during the forecast period.
Scope of the Glioblastoma Multiforme Treatment Market Report
The report on the global glioblastoma multiforme treatment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Glioblastoma Multiforme Treatment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Therapy Types (Radiosensitizers, Temozolomide, Bevacozumab, Carmustine, Chemotherapy, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Teva Pharmaceutical Industries, Ltd.; Merck & Co., Inc.; Sun Pharmaceutical Industries, Ltd.; F. Hoffmann-Le Roche AG; and Arbor Pharmaceuticals LLC.
Glioblastoma Multiforme Treatment Market Segment Insights
Chemotherapy segment is expected to grow at a rapid pace
Based on therapy types, the global glioblastoma multiforme treatment market is segmented into radiosensitizers, temozolomide, bevacozumab, carmustine, chemotherapy, and others. The chemotherapy segment is expected to grow at a rapid pace during the forecast period owing to the increasing incidence of brain and other nervous system cancers.
The chemotherapy operations have a significantly greater success rate than other treatment modalities currently available, which is a key reason fueling the segment growth.
Furthermore, the profitable nature of the chemotherapy business as well as the sector's projected development potential have inspired big pharmaceutical corporations and independent investors to enter the market. Thus, aforementioned factors are estimated to boost the segment growth during the forecast period.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period due to the growing biopharmaceutical research and rising number of the central nervous system cancers in the geriatric population.
Furthermore, non-governmental and governmental support, presence of numerous vaccine products, rapid clinical trials for treatment of glioblastoma multiforme, and the presence of key pharmaceutical companies are expected to boost the market expansion in the region.
Moreover, health organizations such as the Brain Tumor Foundation of Canada (BTFC), the National Brain Tumor Society (NBTS), and the American Brain Tumor Association (ABTA) are conducting various awareness campaign related to GBM, resulting in market growth during the forecast period in the region.
According to the National Cancer Institute of the United States, GBM is the most aggressive kind of brain cancer, accounting for 15.4% of all primary brain tumors and 60% to 75% of all astrocytoma.
The global glioblastoma multiforme treatment market has been segmented on the basis of
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Some of the major players competing in the global glioblastoma multiforme treatment market are Teva Pharmaceutical Industries, Ltd.; Merck & Co., Inc.; Sun Pharmaceutical Industries, Ltd.; F. Hoffmann-Le Roche AG; and Arbor Pharmaceuticals LLC.
Most of these big players are implementing various marketing strategies such as partnerships, mergers & acquisitions, collaboration, and extensive service portfolio along with expanding service capacity on various geographies to secure substantial position.