Brain tumor therapeutics market is expected to register a notable growth rate of 9.5% over the forecast period. The growth is attributed to the growing burden of brain tumor, raising awareness and increasing R&D on cancer therapeutics. A brain tumour occurs when abnormal cells form within the brain. There are two major types of tumors, malignant or cancerous tumors and benign tumours.
According to the World Cancer Research Fund 2018 statistics, Brain and CNS cancers are account for 1.7% of the total new cancer cases i.e. 296,851 new cases in 2018. The increasing burden of brain cancer across the world is expected to drive the demand in the brain tumor therapeutics market over the forecast period.
The treatment for brain tumour differs depending on several factors, such as age, general health, and the size, location, and type of tumour.
However, the high cost of cancer therapy and side effects associated with brain tumor therapeutics are projected to hamper the market growth over the forecast period.
Key Market Trends
The Immunotherapy Segment is Expected to Register Robust Growth
- Immunotherapy is the treatment of disease by activating or suppressing the immune system. Vaccines are a promising new form of immunotherapy that stimulates the immune system to fight cancer.
- The use of immunotherapy in glioblastoma multiforme, which is the most common primary malignant brain tumor in adults, has been found to be effective.
- AstraZeneca's AZD1390 is a highly potent brain penetrant ATM (Ataxia telangiectasia mutant) kinase inhibitor that blocks ATM-dependent signalling and repair of DNA double-strand breaks (DSBs) in the genome. This is user development by the AstraZeneca for the treatment of brain tumours.
- Thus, the rising R&D initiatives to develop the immunotherapeutics to treat the brain tumors and continuous support from the government authorities to develop the chance therapeutics are projected to fuel the segment growth over the forecast period.
The United States is Expected to Retain the Largest Market Share During the Forecast Period
North America brain tumour market is projected to have significant share over the forecast period. The United States is anticipated to lead the market, this is attributed to the developed healthcare industry, coupled with rising awareness regarding advanced technologies among the population in this region.
According to American Cancer Socity about 23,890 malignant tumors of the brain or spinal cord (13,590 in males and 10,300 in females) will be diagnosed in 2020. Furthermore, the same report stated that about 18,020 people (10,190 males and 7,830 females) will die from brain and spinal cord tumors in 2020.
Moreover, meningioma is the most common form of brain tumor, followed by gliomas. Eflornithine is designated as an orphan drug in the United States and received the breakthrough therapy designation for the treatment of anaplastic glioma. This is likely to positively impact the growth of the market over the forecast period.
The market for brain tumor therapeutics is highly concentrated with a few global players controlling a significant share of the market. Key players in the market include Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Co, F. Hoffmann-La Roche Ltd, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co. Inc., Novartis AG, and Pfizer Inc., among others.
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