Brain Tumor Therapeutics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Brain Tumor Therapeutics Market Analysis

The Brain Tumor Therapeutics Market is poised to grow at a CAGR of 9.5% during the forecast period (2022-2027).

The immediate impact of the COVID-19 pandemic is different as it continues to transform the growth of many markets. While few industries may register a drop in demand, numerous other markets are likely to remain unscathed and show promising growth opportunities. Timely surgical treatment is extremely critical in reducing the tumor mass inside a patient’s brain. According to the August 2020 research study titled “Brain Tumor Management Amidst COVID-19 Pandemic,” it was found that the European Society for Medical Oncology (ESMO) has adopted a neurosurgery protocol on giving drug therapy to slow down the tumor’s progression and in providing a longer survival time. This is of utmost importance in patients with brain tumors due to the delay of neurosurgery as hospitals around the globe have postponed elective procedures to increase the capacity for COVID-19 patients. This has created a lot of uncertainty in the neuro-oncology community. According to the National Brain Tumor Society in 2020, many brain tumor patients, particularly those with malignant tumors, are considered at high risk because chemotherapy and radiation can weaken a patient's immune system, rendering them more vulnerable to COVID-19. This has further impacted the brain tumor therapeutics market during the pandemic. Furthermore, according to the study published in “Managing children with brain tumors during the COVID-19 era” in 2021, malignant juvenile brain tumors are known for their rapid growth, necessitating early detection and treatment. As a result, delaying or changing therapy may damage its effectiveness, lowering patient survival rates. This has further impacted the growth of the brain tumor therapeutics market during the pandemic. Moreover, Brain Tumor Research, a research organization, has reported a drastic delay in the diagnosis and treatment approaches, such as chemotherapy and radiotherapy for different types of brain tumors.

It has been observed that there is a significant surge in the brain cancer burden globally over the past few years. As per the estimates of Globocan 2020, the number of new cases of brain cancer across the world in 2021 was 308,102, and the number of new deaths was 251,329. Furthermore, according to the estimates of the American Cancer Society, in 2021, about 24,530 malignant tumors of the brain or spinal cord were diagnosed. Also, according to the same source, about 3,460 children under the age of 15 are likely to be diagnosed with brain or CNS tumors this year. This increase in the number of cancer cases is expected to drive the overall brain therapeutics market. Glioblastoma is an aggressive form of brain tumor, which occurs mostly in adults. It can also occur in children, but very rarely. It grows fast and spreads quickly. Quick diagnosis and treatment are a must, as it is a fatal disorder. Moreover, there is a rising prevalence of brain cancer across the world. Oligidendrioma is a central nervous system tumor, which begins in the brain or spinal cord. According to the 2020 latest updates of the National Cancer Institute, oligodendrogliomas occur most often in people between the ages of 35 and 44 but can occur at any age. Currently, in the United States, it was estimated that 11,757 people are living with oligodendroglioma, and 13,294 people are living with ependymoma. The rising types of brain cancers are fueling the market growth. Thus, the increasing prevalence of brain tumors is one of the major factors augmenting the growth of the market, as these existing and novel therapies help patients to manage and prevent the disease.

However, the high cost of cancer therapy and side effects associated with brain tumor therapeutics are projected to hamper the market growth slightly over the forecast period.

Brain Tumor Therapeutics Industry Segmentation

Brain tumor arises from abnormal growth of cancerous cells in the brain. Brain tumor is one of the leading causes of death, globally. Meningioma is the most common kind of brain tumor and the hardest to treat, while, treatments for glioma usually have better outcomes. The Brain Tumor Therapeutics Market is Segmented by Type of Brain Cancer (Glioblastoma, Meningioma, Pituitary Tumors, and Other Types of Brain Cancer), Therapy (Chemotherapy, Immunotherapy, Gene Therapy, and Other Therapies), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

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Brain Tumor Therapeutics Market Trends

This section covers the major market trends shaping the Brain Tumor Therapeutics Market according to our research experts:

The Immunotherapy Segment is Expected to Register Robust Growth

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