Brain Tumor Drugs Market Size to Reach USD 6.5 Billion by 2032 growing at 8.8% CAGR - Exclusive Report by Acumen Research and Consulting
The global Brain Tumor Drugs Market size occupied USD 2.8 Billion in 2022 and is estimated to arrive at a size of around USD 6.5 Billion by 2032 rising with a CAGR of 8.8% during the forecasted years, as reported by Acumen Research & Consulting
The brain tumor drugs industry is a subset of the pharmaceutical industry dedicated to the research, development, and commercialization of drugs for the treatment of brain tumors. The growing global prevalence of brain tumors, as well as the need for efficient therapies to improve patient outcomes, is driving the industry. Technological advances such as genomics, targeted therapies, and immunotherapies have facilitated the development of more effective brain tumor treatments. Precision medicine and personalized therapies have also improved patient treatment outcomes.
Rising healthcare spending, particularly in emerging economies, has aided the growth of the brain tumor drugs industry. As these regions' healthcare infrastructure improves, there is a growing demand for effective brain tumor treatment options. Companies in the brain tumor drugs industry are forming strategic partnerships and collaborations to advance their research and development efforts. As a result, new brain tumor therapies and treatment options have been developed.
Brain Tumor Drugs Market Statistics
- Global brain tumor drugs market revenue accounted for USD 2.8 billion in 2022, with an 8.8% CAGR from 2023 to 2032
- North American brain tumor drugs market share occupied around 40% in 2022
- American Cancer Society, Inc., about 18,990 Americans will die from a malignant brain tumor by 2023
- Asia-Pacific brain tumor drugs market growth is projected to attain a 9% CAGR from 2023 to 2032
- By therapy type, chemotherapy grabbed over 36% share in 2022
- Among indications, the glioblastoma sub-segment gathered US$ 1.2 billion in revenue in 2022
- The emergence of novel therapies for brain tumors is a recent anti-fungal drugs market trend
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Brain Tumor Drugs Market Dynamics
Increasing Incidences of Brain Tumors Inflates the Brain Tumor Drugs Market Value
The increasing prevalence of brain tumors is one of the key drivers of the brain tumor drug industry. Brain tumors can be classified as primary or secondary tumors, with primary brain tumors originating in the brain tissue, and secondary tumors spreading to the brain from other parts of the body. The incidence of primary brain tumors is increasing globally, and this has led to a growing demand for effective treatment options.
According to the American Brain Tumor Association, approximately 700,000 people in the United States are living with a primary brain tumor, and about 80,000 new cases are diagnosed each year. Brain tumors are also among the leading causes of cancer-related deaths in children and young adults. The incidence of brain tumors is increasing in many other parts of the world as well, including Europe, Asia, and Latin America.
Factors such as aging populations, exposure to environmental toxins, and genetic predisposition have been linked to the increasing prevalence of brain tumors. This has led to a growing need for effective treatment options, which has driven the growth of the brain tumor drug industry.
Emergence of Novel Therapies to Generate Remarkable Brain Tumor Drugs Market Opportunities
Novel therapies for brain tumors are emerging as a key trend in the brain tumor drug industry. Researchers and drug developers are always looking for new ways to improve patient outcomes and survival rates. Novel therapies in the brain tumor drug market include immunotherapies, gene therapies, targeted therapies, and combination therapies.
Immunotherapy is a promising treatment option for brain tumors. It entails targeting and destroying cancer cells using the body's immune system. Checkpoint inhibitors and CAR-T cell therapies are among the immunotherapies being developed for the treatment of brain tumors. Gene therapy entails inserting genetic material into a patient's cells in order to correct or modify the genes that cause the disease. Several gene therapies, including oncolytic viruses and gene-editing technologies, are being developed for the treatment of brain tumors.
Combination therapies are treatments that use two or more different types of treatments to optimize treatment outcomes. Combination therapies for the treatment of brain tumors are being developed, and they may include radiation therapy, chemotherapy, immunotherapy, or targeted therapy. Overall, the development of new therapies is expected to improve treatment options and outcomes for patients suffering from brain tumors.
Brain Tumor Drugs Market Segmentation
The global market has been categorized into therapy type, indication, distribution channel, and region.
Targeted therapy, chemotherapy, immunotherapy, and others are all subcategories of therapy. Pituitary tumors, meningioma, glioblastoma, and other cancers are among the indications. The brain tumor drugs market is divided into hospital pharmacies, retail pharmacies, and other indications. The market's five regions are North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa (MEA).
Brain Tumor Drugs Market Share
Chemotherapy had the highest market share in 2022 and is expected to continue to do so in the coming years. However, the growth rate of targeted therapy is expected to increase significantly over the forecast period.
According to our brain tumor drugs industry analysis, Glioblastoma is the leading indication sub-segment, accounting for the majority of the market share in 2022. Meningioma indications will gradually increase in the market in the coming years.
According to the brain tumor drugs market forecast, hospital pharmacy has dominated the segment for the past few years and will continue to do so in the future. Retail and online pharmacies, on the other hand, are expected to accelerate their growth in the acne medication industry from 2023 to 2032.
Brain Tumor Drugs Market Regional Outlook
North America is a major market for brain tumor drugs, owing to the high prevalence of brain tumors in the region. The region has a well-developed healthcare system that allows for the development and implementation of new treatments and therapies. The United States is North America's largest market for brain tumor drugs.
Europe is another major market for brain tumor drugs, owing to the increasing prevalence of brain tumors in the region. The region has a robust regulatory framework that allows for the development and approval of new treatments and therapies. The United Kingdom, Germany, and France are some of Europe's most important markets for brain tumor drugs.
Asia Pacific is a rapidly growing market for brain tumor drugs, owing to the increasing incidence of brain tumors in the region. The region is densely populated, and the ageing population is driving the demand for brain tumor drugs. China, Japan, and India are some of Asia Pacific's most important markets for brain tumor drugs.
Latin America is a growing market for brain tumor drugs, owing to the increasing incidence of brain tumors in the region. The region's healthcare sector is expanding, which is driving the development and adoption of new treatments and therapies. Brazil, Mexico, and Argentina are some of the most important markets in Latin America for brain tumor drugs.
Brain Tumor Drugs Market Players
Some prominent brain tumor drugs companies covered in the industry include AbbVie Inc., Amgen Inc., AstraZeneca, Bayer AG, Bristol-Myers Squibb, Eisai Co., Ltd., Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Ipsen Biopharmaceuticals, Inc., Johnson & Johnson, Merck & Co, Inc., Novartis AG, Pfizer Inc, and Sanofi SA.
In 2021, AbbVie released encouraging findings from a Phase 2 clinical trial evaluating the efficacy of its investigational drug depatuxizumab mafodotin in treating newly diagnosed glioblastoma when combined with radiate on therapy and temozolomide.
Pfizer announced positive Phase 3 clinical trial results for its drug Xalkori for the treatment of non-small cell lung cancer that has spread to the brain in 2021.
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