Brain tumor relapses will push sales of glioblastoma multiforme treatment to over $7 billion by 2032
Growing Demand for Radiotherapy Treatment to Drive Glioblastoma Multiforme Treatment Market at CAGR of 10.9%
Fact.MR’s market study of the Global Glioblastoma Multiforme Treatment Market examines the prevailing factors such as major challenges and opportunities that are expected to influence the sales of Glioblastoma Multiforme Treatment. The report also delves into the latest trends and dynamics across several market segments including treatment, drug class, application, and regions.
NEW YORK, April 5, 2022 /PRNewswire/ — The global glioblastoma multiforme treatment market was valued at approximately US$2.6 billion in 2021. According to Fact.MR, global sales of glioblastoma multiforme treatment are expected to total US$7 billion, growing at a CAGR of 10.1% over the period 2022-2032.
Growing awareness of the risks of developing glioblastoma multiforme with age in countries like US, UK, Chinaand India is likely to reinforce the need for treatment of glioblastoma multiforme.
The increasing death rate from glioblastoma multiforme is expected to increase the development of new biologics, immunotherapy, small molecules and drugs. This is expected to create growth prospects in the market.
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The prevalence of variation in patient-to-patient treatment techniques and heterogeneity is driving the demand for personalized treatments. This should boost sales of glioblastoma multiforme treatments.
Similarly, the increasing attention given to research and development activities in molecular biotechnology and gene therapy for cancer and related diseases underpins the need for effective treatments. Therefore, the adoption of glioblastoma multiforme treatment in the healthcare sector is increasing.
Additionally, the introduction of favorable reimbursement policies simplifies access to state-of-the-art medical facilities. Driven by this, sales in the treatment of glioblastoma multiforme are expected to increase in the coming years.
In addition, the development of a special class by the United States Food and Drug Administration (FDA) for investigational drugs should accelerate the approval and commercialization of the latest treatments. This will in turn create remunerative opportunities for market players.
Base year value (2021A)
Projected year value (2032F)
World growth rate (2022-2032)
Key points to remember:
- In terms of treatment, the demand in the radiation therapy segment is expected to grow at a CAGR of 10.9%.
- Based on the application, the hospital segment is expected to show a CAGR growth of 10.8% during the period 2022-2032.
- North America is expected to dominate the market, accounting for more than 40% of the total market share.
- Asia Pacific is expected to register the highest CAGR due to the growing awareness of glioblastoma multiforme treatment in the region.
- The glioblastoma multiforme treatment market size is expected to grow 2.8 times over the forecast period, reaching nearly US$7 billion by 2032.
- Rising incidence of oncological diseases among individuals of all age groups especially the elderly is expected to propel the demand in the market.
- Rising incidences of recurrence of gliomas and brain tumors are expected to drive sales.
- The limited availability of effective treatments to prevent tumor recurrence will limit the demand for treatment of glioblastoma multiforme.
- Rising side effects associated with glioblastoma multiforme treatment could hamper the market growth.
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Prominent players in the global glioblastoma multiforme treatment market are investing in advanced technological procedures to develop effective treatments for glioblastoma multiforme. Additionally, players are adopting inorganic business strategies including mergers, acquisitions, and collaborations to expand their global presence. For example:
- In July 2020Denovo Biopharma has obtained approval from the United States Food & Drug Administration (FDA) for its phase 2b clinical trial of an investigational combination therapy for the treatment of patients with newly diagnosed glioblastoma multiforme.
- In April 2021, Lineage Cell Therapeutics has licensed its allogeneic VAC cancer immunotherapy platform to Immunomic Therapeutics. Pursuant to the agreement, Lineage will be entitled to receive direct payment from US$2 millionfollowed by a total of US$67 million in commercial and development milestones.
Top Companies Featured by Fact.MR
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
- Amgen, Inc.
- Pfizer Inc.
- Amgen, Inc.
- Amneal Pharmaceuticals
- Karyopharm Therapeutics, Inc.
- Sun Pharmaceutical Industries Ltd.
- Arbor Pharmaceuticals, LLC
- Sumitomo Dainippon Pharma Oncology, Inc.
More Valuable Insights into Glioblastoma Multiforme Treatment Market
In the latest study, Fact.MR offers in-depth insights into the Global Glioblastoma Multiforme Treatment Market by reviewing key growth drivers, historical outlook, and unbiased analysis for the forecast period 2022 to 2032. This study also covers opportunities and challenges. affecting the growth of the Glioblastoma Multiforme Treatment Market by detailed segmentation as follows:
- Targeted therapy
- Tumor Treatment Field (TTF) Therapy
By drug class:
- Carmustine Wafers
- Other drug classes
- Ambulatory surgery centers
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (SOUL)
Key Questions Answered in the Glioblastoma Multiforme Treatment Market Report
- At what rate will Global Glioblastoma Multiforme Treatment Market grow through 2032?
- What is the projected market value of the Glioblastoma Multiforme Treatment market in 2022?
- What are the factors restraining the growth of the glioblastoma multiforme treatment market?
- What are the key factors propelling the growth of the Global Glioblastoma Multiforme Treatment Market?
- Who are the key players operating in the Global Glioblastoma Multiforme Treatment Market?
- What is the expected market revenue of the global Glioblastoma Multiforme Treatment market during the forecast period?
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