The global brain tumor therapeutics market has been estimated to reach USD 2.74 billion in 2023. The market is expected to register a CAGR of 11% during the forecast period, 2018 to 2023. North America dominates the market due to increasing technological advancements. Developed healthcare infrastructure, greater per capita healthcare spending, and comparatively higher awareness regarding advanced technologies are the other impact rendering factors.
Increasing incidences of brain cancer have augmented the demand for brain cancer therapeutics across the globe, which is driving the market. In addition, increased focus on precision medicine is also fuelling the global brain tumor therapeutics market.
Availability of only a few brain cancer-specific drugs and their high cost are acting as restraints for the brain tumor therapeutics market. Nevertheless, various pharmaceutical companies are spending heavily on R&D activities, which can bring more treatment options to the market in future.
The brain tumor therapeutics market is segmented by type of treatment and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America dominates the brain tumor therapeutics market due to increasing technological advancements and the rising incidences of brain cancer in the country. Asia-Pacific is also expected to propel the brain tumor therapeutics market owing to factors, such as increasing accessibility to healthcare facilities in the region, and increasing geriatric population.
Major Players: F. Hoffmann-La Roche AG, Merck, Novartis, Immunocellular Therapeutics, NOVOCURE, Delmar Pharmaceuticals Inc., and Moleculin Biotech, among others.
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