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Understanding Impact of COVID-19 on Glioblastoma Multiforme (GBM) Market

09-17-2020 01:30 PM CET | Health & Medicine

Press release from: Transparency Market Research

Glioblastoma Multiforme (GBM), also known as glioblastoma, is a form of brain cancer. It is a rapidly-growing glioma that develops from star-shaped glial cells, such as oligodendrocytes and astrocytes that support the nerve cells in the brain. GBM is also called as grade IV astrocytoma and is among the most invasive forms of glial tumors. It is a fast-growing and aggressive form of tumor in the central nervous system (CNS) and generally spreads to the nearby brain tissues. Its symptoms include seizures, constant headaches, vomiting, blurred or double vision, and difficulty in speaking.

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A key factor contributing to growth of the glioblastoma multiforme market is the rising number of brain and other nervous system cancers occurring worldwide. Globally, GBM accounted for 54% of new gliomas and 45% of primary malignant tumors. According to the U.S National Cancer Institute 2015 estimates 22,850 adults comprising 10,280 women and 12,630 men were diagnosed with brain and other forms of nervous system cancer. The rising number of cases of GBM is expected to drive the glioblastoma multiforme market during the forecast period. Increase in funding for companies involved in the research on GBM is also contributing to the growth of the glioblastoma multiforme market. For instance, in February 2018, Novocure announced that it would receive fresh infusion of capital from BioPharma Credit PLC, which is an investment fund of Pharmakon Advisors, LP. The term loan agreement for US$ 150 Mn will be used by Novocure to accelerate its R&D on improved treatment option for GBM. Additionally, companies are focusing on the development of new drugs and therapies in order to maintain their competitive advantage and penetrate new regional markets. In December 2017, Genentech, a subsidiary of Roche, announced that it had received approval from U.S. Food and Drug Administration (FDA) for Avastin (bevacizumab) to be used in the treatment glioblastoma in adults. In September 2017, the FDA approved Amgen’s MVASI (bevacizumab-awwb), which is the first bevacizumab biosimilar as well as the first anti-cancer biosimilar to be approved for the treatment of five types of cancer, including GBM. In July 2016, Mylan launched Temozolomide capsules, the generic version of Merck’s Temodar, in the U.S. The capsules are indicated for use concomitantly with radiotherapy in adult patients for the treatment of glioblastoma multiforme.

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The glioblastoma multiforme market can be segmented based on treatment type, end-user, and geography. In terms of treatment type, the market can be divided into drugs, electric-field therapy, and others. The drugs segment can be further divided into antineoplastic agents, anticonvulsants, and corticosteroids. Based on end-user, the glioblastoma multiforme market can be classified into hospitals, ambulatory surgical centers, and specialty clinics.

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Geographically, the global glioblastoma multiforme market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global glioblastoma multiforme market due to rise in funding for research & development of novel drugs and therapies for the treatment of glioblastoma. North America is followed by Europe and Asia Pacific. Grant of regulatory approval for new treatment therapies for glioblastoma is propelling the growth of the glioblastoma multiforme market in Asia Pacific. In December 2017, the Ministry of Health, Labour and Welfare in Japan approved the recommendation of the Central Social Insurance Medical Council (Chuikyo) for providing reimbursement for Novocure’s Optune, which is a non-invasive, portable device used in the treatment of newly diagnosed glioblastoma.

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Prominent players operating in the global glioblastoma multiforme market are Bexion Pharmaceuticals, LLC, Bristol-Myers Squibb, Double Bond Pharmaceutical, Diffusion Pharmaceuticals, F. Hoffmann-La Roche AG., GW Pharmaceuticals, plc. Merck & Co., Inc., MimiVax, LLC, Novocure, Pfizer Inc., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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