Glioblastoma Multiforme Treatment Market Size

Glioblastoma Multiforme Treatment Market Analysis

The Glioblastoma Multiforme Treatment Market size is estimated at USD 2.80 billion in 2024, and is expected to reach USD 4.60 billion by 2029, growing at a CAGR of 8% during the forecast period (2024-2029).

The glioblastoma multiforme treatment market is expected to register a CAGR of 8% during the forecast period.

According to an article published by Acta bio-medica: Atenei Parmensis in July 2022, the international scientific community urgently reorganized the treatment approach to minimize the risk of in-hospital contagious. For glioblastoma multiforme patients, adjuvant treatments were evaluated, and a hypofractionated radiotherapy regimen was preferred to reduce daily hospital access. Furthermore, the above source mentioned that the patient-doctor relationship improved through telemedicine. Thus, telemedicine benefits the health system financially, provides psychological satisfaction to the patient, and provides equate medical care for glioblastoma multiforme patients. This led to increased glioblastoma multiforme treatment, thereby driving the market growth.

Factors such as the increasing burden of brain disorders, vital R&D initiatives from key players, and a rising senior population are boosting the growth of the glioblastoma multiforme treatment market. For instance, according to an article published by the National Brain Tumor Society, more than 13,000 Americans are expected to receive a glioblastoma multiforme diagnosis in 2022. Glioblastoma multiforme accounts for 49.1% of all primary malignant brain tumors. It is estimated that more than 10,000 individuals in the United States will succumb to glioblastoma every year. Thus, with increased glioblastoma multiforme cases, the demand for its treatment increases, leading to market growth.

Moreover, various initiatives undertaken by the regional and state governments to make the treatment more accessible to patients are anticipated to boost the market growth further. For instance, in December 2022, the Food and Drug Administration (FDA) granted Fast Track designation to WP1122 for treating glioblastoma multiforme. WP1122 was a prodrug of 2-deoxy-D-glucose, or 2-DG, designed to target glycolysis and glycosylation, limiting viral infectivity and replication. Such an initiative is expected to increase the demand for glioblastoma multiforme treatment, driving market growth.

Hence, as per the abovementioned factors, the glioblastoma multiforme treatment market is anticipated to grow over the forecast period. However, reimbursement issues, stringent regulatory guidelines, and high cost & side effects associated with therapies are expected to restrain the growth of the global market over the analysis period.