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Glioblastoma Multiforme (GBM) Treatment Market Segments, Analysis, Trends, Opportunities And Strategies 2024-2033
Glioblastoma Multiforme (GBM) Treatment Market Segments
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According to The Business Research Company's, The glioblastoma multiforme (gym) treatment market size has grown rapidly in recent years. It will grow from $2.23 billion in 2023 to $2.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increased incidence and prevalence, advancements in diagnostic techniques, clinical trials and research funding, collaborations and partnerships, improved understanding of tumor biology.
The glioblastoma multiforme (gym) treatment market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to emergence of immunotherapies, precision medicine advancements, expanded knowledge of genetic markers, patient advocacy and awareness, government support for rare diseases. Major trends in the forecast period include exploration of combination therapies, integration of artificial intelligence in diagnosis and treatment planning, rise in adoption of immunotherapeutic approaches, advance medical tools and equipment.
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Market Drivers and Trends:
The increasing prevalence of brain disorders is expected to propel the growth of the glioblastoma multiforme (GBM) treatment market going forward. Brain disorders refer to abnormal functioning of the brain as well as the nerves found throughout the human body and the spinal cord. The increasing prevalence of brain disorders such as glioblastoma multiforme (GBM) is due to various contributing factors such as the aging population, compromised immune systems, overdiagnosis, ionizing radiation, air pollution, and others which creates the need for the treatment of brain disorders to improve well-being. For instance, according to the report published by Globocan, a US-based international agency for providing global cancer statistics, approximately 308,102 cancer cases were detected for the brain and central nervous system, and 251,329 deaths in the year 2020 globally. Additionally, according to a report published by the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, in 2022, it is estimated around 25,050 malignant tumors of the brain or spinal cord cancer cases will be diagnosed in the US. Therefore, the increasing prevalence of brain disorders is driving the growth of the glioblastoma multiforme (GBM) treatment market.
Advancements in therapies are a key trend gaining popularity in the glioblastoma multiforme (GBM) treatment market. Major companies operating in the market are focused on research and development for therapy innovations to sustain their position in the market. For instance, in November 2021, Daiichi Sankyo Company Limited, a Japan-based pharmaceutical company, launched DELYTACT, the first-ever oncolytic virus-based immunotherapy (Teserpaturev) in collaboration with the Institute of Medical Science, The University of Tokyo to treat malignant glioma. Oncolytic viruses refer to genetically modified viruses that are capable of infecting and specifically replicating in cancer cells, eventually causing cell death without damaging healthy cells to inhibit cell proliferation. The unique features of DELYTACT (Teserpaturev) provide patients with the ability to produce immune-boosting molecules or initiate anti-cancer immunity by triggering the multiple mechanisms of the patient's immune system and also able to kill the tumor cells that have spread to other parts of the brain.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, AstraZeneca PLC, Amgen Inc., Teva Pharmaceutical Industries Ltd., Carl Zeiss AG, Sun Pharmaceutical Industries Limited, Jazz Pharmaceuticals Inc., Sumitomo Dainippon Pharma Oncology Inc., Varian Medical Systems Inc., Amneal Pharmaceuticals Inc., Elekta AB, ANI Pharmaceuticals Inc., Accord Healthcare Limited, The Eckert & Ziegler Group, Arbor Pharmaceuticals LLC, Loxo Oncology Inc., Karyopharm Therapeutics Inc., Celon Laboratories Pvt. Ltd., EnGeneIC Ltd., Zydus Pharmaceuticals Inc., Genenta Science S.r.l., Cantex Pharmaceuticals Inc., Vascular Biogenics Ltd., Seelos Therapeutics Inc, Angiochem Inc., Diffusion Pharmaceuticals Inc.
Glioblastoma Multiforme (GBM) Treatment Market 2024 Key Insights:
• The glioblastoma multiforme (gym) treatment market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Rising Cases Of Brain Disorder
• Innovative Therapies Transform Glioblastoma Multiforme Treatment Landscape
• North America was the largest region in the glioblastoma multiforme (GBM) treatment market share in 2023
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