Market Research Future (MRFR) has published on the “Global Brain Tumor Treatment Market”.
The brain tumor treatment market is estimated to register a CAGR of 12.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the brain tumor treatment market— F. Hoffmann-La Roche Ltd (U.S.), Novartis AG (Switzerland), Merck & Co. Inc. (U.S.), Pfizer Inc. (U.S.), Amneal Pharmaceuticals LLC. (U.S.), Amgen Inc. (U.S.), NextSource Pharmaceuticals, LLC (U.S.), Emcure Pharmaceuticals (India), Siemens Healthineers AG, and Dr. Reddy's Laboratories Ltd.
Market Highlights
The brain tumor treatment market is expected to register a CAGR of 12.20% during the forecast period and is estimated to reach USD 3.38 billion by 2032.
The brain tumor treatment market is driven by advancements in medical technology and the increased prevalence of brain tumors globally. However, challenges include high treatment costs, limited accessibility to advanced therapies, and potential side effects. Opportunities lie in the development of targeted therapies and personalized medicine approaches. Challenges include regulatory hurdles, ethical considerations, and the complexity of treating diverse types of brain tumors effectively.
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Segment Analysis
The brain tumor treatment market has been segmented based on Therapy, Indication, and Distribution channels.
On the basis of Therapy, the market is segmented into Targeted Therapy, Chemotherapy, Immunotherapy, and Others. The targeted therapy segment was attributed to holding the largest market share in 2022. Due to its ability to selectively target cancer cells while sparing normal cells, resulting in fewer side effects and improved efficacy compared to conventional treatments. Meanwhile, the fastest-growing category is Immunotherapy, driven by advancements in harnessing the immune system to recognize and attack cancer cells. Immunotherapies such as immune checkpoint inhibitors and adoptive cell therapies have shown promising results in brain tumor patients, leading to increased adoption and research in this area.
Based on Indication, the brain tumor treatment market has been segmented into Pituitary Tumors, Meningioma, Glioblastoma, and Others. The glioblastoma segment was expected to hold the largest market share in 2022. Owing to its aggressive nature and high incidence rate, it is one of the most common and challenging brain tumors to treat. Glioblastoma treatments often involve a combination of surgery, radiation therapy, and chemotherapy, reflecting the extensive research and clinical focus on this Indication. Meanwhile, the fastest-growing category is Pituitary Tumors, driven by increased detection rates and advancements in diagnostic imaging techniques. Pituitary tumors, while typically benign, can cause hormonal imbalances and neurological symptoms, prompting the development of targeted therapies and minimally invasive surgical techniques tailored to this Indication.
Based on the Distribution Channel, the brain tumor treatment market has been segmented into Hospital Pharmacy, Retail & Online Pharmacy. The hospital pharmacy segment was expected to hold the largest market share in 2022. Owing to its aggressive nature and high incidence rate, it is one of the most common and challenging brain tumors to treat. Due to the complexity of brain tumor treatments, which often require specialized medications, intravenous therapies, and close monitoring by healthcare professionals. Meanwhile, the fastest-growing category is Retail & Online Pharmacy, driven by the increasing availability of oral chemotherapy agents and supportive care medications for brain tumor patients. Retail and online pharmacies offer convenience and accessibility.
Regional Analysis
The brain tumor treatment market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The European brain tumor treatment market comprises Germany, France, the UK, Italy, Spain, and the Rest of Europe. The brain tumor treatment market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia-Pacific. The Rest of the World brain tumor treatment market comprises the Middle East, Africa, and Latin America.
The largest market share for brain tumor treatment was maintained by the North American regional sector. This increase is attributed to the advanced healthcare infrastructure, including state-of-the-art hospitals, research institutions, and medical technology companies specializing in neuro-oncology. Additionally, the region has a high level of healthcare expenditure and insurance coverage, enabling patients to access innovative treatment options and therapies.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for brain tumor treatment is driven by a robust healthcare system with extensive coverage and access to specialized medical services, including neurosurgery and oncology. Additionally, there has been significant investment in medical research and development, leading to advancements in diagnostic techniques, treatment modalities, and supportive care for brain tumor patients.
Additionally, the Asia-Pacific region is anticipated to experience the quickest growth in the brain tumor treatment market due to several factors. Firstly, rapid urbanization and economic development in countries across Asia-Pacific have led to improved healthcare infrastructure and increased healthcare spending. This has resulted in better access to advanced medical technologies and treatments for brain tumors. Additionally, rising incidences of brain tumors in the region, partly due to factors like aging populations and changing lifestyles, have created a greater demand for effective treatment options.
Furthermore, the Rest of the world's brain tumor treatment market is divided into the Middle East, Africa, and Latin America. This growth is attributed to healthcare-seeking behavior and treatment preferences, impacting the demand for brain tumor treatments in these regions. Despite these challenges, efforts are being made to improve healthcare infrastructure and access to quality treatment options in the Middle East, Africa, and Latin America to address the growing burden of brain tumors.
Key Findings of the Study
- The brain tumor treatment market is expected to reach USD 3.38 billion by 2032, at a CAGR of 12.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to improved healthcare infrastructure and increased healthcare spending.
- Based on the Indication, the glioblastoma segment was attributed to holding the largest market share in 2022, with an approximate market share of 45%.
- F. Hoffmann-La Roche Ltd (U.S.), Novartis AG (Switzerland), Merck & Co. Inc. (U.S.), Pfizer Inc. (U.S.), Amneal Pharmaceuticals LLC. (U.S.), Amgen Inc. (U.S.), NextSource Pharmaceuticals, LLC (U.S.), Emcure Pharmaceuticals (India), Siemens Healthineers AG, and Dr. Reddy's Laboratories Ltd. are the key players in this market
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Companies Covered | 15 |
Pages | 128 |
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