SAN FRANCISCO, Sept. 29, 2021 /PRNewswire/ — The global glioblastoma multiforme treatment market size is expected to reach USD 4.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.8% from 2021 to 2028. The market is driven by the rising prevalence of the disease and increasing approval for novel therapy and combination therapy.
In recent years, the industry has been growing rapidly owing to the introduction of innovative products and rising interest of major pharmaceutical companies in the market due to favorable guidelines and rising incidence of the disease. For instance, companies such as Bristol Myers Squibb; CNS Pharmaceuticals, Inc.; and Bayer have novel products in the pipeline for glioblastoma multiforme. These products are likely to boost competitive rivalry in the market in the coming years.
Key Insights & Findings:
- Based on treatment, in 2020, radiation therapy held the largest share owing to various benefits associated with it such as improved survival rate and effectiveness
- By drug class, the others segment led the market in 2020 owing to the high number of prescriptions. The segment includes everolimus, corticosteroids, and 5-aminolevulinic acid (5-ALA)
- The hospitals end-use segment dominated the market in 2020 and the trend is expected to continue during the forecast period. Hospitals are preferred by patients in terms of treatment accessibility and convenience
- Asia Pacific is projected to witness the fastest growth during the forecast period owing to the presence of large unmet needs in the market and the growing awareness about glioblastoma multiforme
- North America dominated the market in 2020 due to favorable reimbursement policies and the presence of major players in the region
Read 110 page market research report, “Glioblastoma Multiforme Treatment Market Size, Share & Trends Analysis Report By Treatment (Radiation Therapy, Immunotherapy), By Drug Class, By End Use, By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
Moreover, companies are collaborating to develop novel treatments. For instance, in October 2019, Advaxis, Inc., a clinical-stage biotechnology company, announced a research collaboration agreement with the University of California for the development and commercialization of novel immunotherapy by using the company’s Lm Technology in mouse tumor models of glioblastoma multiforme. An increase in collaborations between researchers and market players is expected to boost the development of novel and effective treatment options for glioblastoma multiforme.
Existing companies are willing to acquire new companies with pipeline products to diversify their product portfolio. For instance, in May 2019, Merck announced the upfront USD 1.1 billion acquisition of Peloton Therapeutics, which grants it access to the PT2977 under trial glioblastoma drug. This acquisition is likely to strengthen its pipeline and improve its future revenue-generation ability.
Various initiatives undertaken by the governments and non-government bodies across the globe to increase awareness by educating people living with glioblastoma multiforme and raising funds for R&D activities and treatment are expected to fuel the glioblastoma multiforme (GBM) treatment market growth during the forecast period. For instance, Ping Mobile, a mobile messaging platform, has launched a mobile campaign to increase awareness about brain cancer. This helps in raising awareness about glioblastoma multiforme and motivating people to donate money for glioblastoma multiforme research activities.
Organizations such as the National Brain Tumor Society, Brain Tumour Foundation of Canada, and Cure Brain Cancer Foundation are also involved in many awareness campaigns to raise awareness among people about the condition. In the U.K., March is Brain Tumor Awareness month, a campaign established by member charities of Brain Tumor Research. The main aim of the campaign is to spread awareness about the lack of funding for brain tumor research, and it helps people understand brain tumors and their treatment. Moreover, Novocure undertook many activities to spread awareness about glioblastoma multiforme during Brain Tumor Awareness Month.
Grand View Research has segmented the global glioblastoma multiforme treatment market on the basis of treatment, drug class, end-use, and region:
- Glioblastoma Multiforme (GBM) Treatment Outlook (Revenue, USD Million, 2017 – 2028)
- Radiation Therapy
- Targeted Therapy
- Tumor Treating Field (TTF) Therapy
- Glioblastoma Multiforme (GBM) Treatment Drug Class Outlook (Revenue, USD Million, 2017 – 2028)
- Carmustine Wafers
- Glioblastoma Multiforme (GBM) Treatment End-use Outlook (Revenue, USD Million, 2017 – 2028)
- Ambulatory Surgical Centers
- Glioblastoma Multiforme (GBM) Treatment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Glioblastoma Multiforme (GBM) Treatment Market
- Merck & Co., Inc.
- Amgen, Inc.
- F. Hoffmann-La Roche Ltd.
- Pfizer Inc.
- Amgen, Inc.
- Teva Pharmaceutical Industries Ltd.
- Sun Pharmaceutical Industries Ltd.
- Arbor Pharmaceuticals, LLC
- Amneal Pharmaceuticals
- Karyopharm Therapeutics, Inc.
- Sumitomo Dainippon Pharma Oncology, Inc. (Boston Biomedical, Inc.)
Check out more studies related to diagnostics and treatment of tumor, conducted by Grand View Research:
- Tumor Ablation Market – The global tumor ablation market size was valued at USD 646.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028. The rising prevalence of cancer and the high demand for safer therapeutic options are major factors contributing to the growth of the market.
- Neuroendocrine Tumor Treatment Market – The global neuroendocrine tumor treatment market size was estimated at USD 1.51 billion in 2017 and is expected to register a CAGR of 10.4% during the forecast period. Increasing cases of neuroendocrine tumors (NETs) are expected to accelerate the demand for treatment options, thereby augmenting the market growth over the forecast period.
- Tumor Profiling Market – The global tumor profiling market size was estimated at USD 10.73 billion in 2017 and is expected to register a CAGR of 8.8% during the forecast period. Cancer tumor profiling (CTP) is done to evaluate the metabolism, properties, and mutations in a tumor, which can aid in discovery of effective therapies.
Browse through Grand View Research’s coverage of the Global Pharmaceuticals Industry
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.