Global Brain Tumor Diagnostics and Therapeutics Market: Overview
Increased prevalence of symptoms associated with brain tumor has led to a growing demand for tests detecting the presence of tumors. Some of the common types of tests used for the diagnosis of brain tumor are magnetic resonance imaging (MRI), myelogram, electroencephalography (EEG), tissue sampling or biopsy of surgical removal of a tumor, CT scan, cerebral angiogram or cerebral anteriogram, molecular testing, positron emission tomography (also called PET or PET-CT scan), and neurocognitive assessment.
The growth drivers, opportunities, deterrents, and recent developments in the global market for brain tumor diagnostics and therapeutics have been analyzed in details. The report presents value chain analysis, the supply and demand ratio, market attractiveness, and the past and projected leading market segments. The prominent vendors have been evaluated in depth, considering their market shares, product portfolios, and recent business strategies.
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Global Brain Tumor Diagnostics and Therapeutics Market: Drivers and Restraints
Recently, the healthcare sector has been displaying increasing public-private partnerships. These partnerships will prove to be beneficial for the growth of the global brain tumor diagnostics and therapeutics market as they are contributing towards the modernization of radiology and diagnostic imaging services. Research activities in the area of molecular diagnostics aimed at understanding cell biology and recognizing gene mutations related to malignancy are expected to boost growth. Technological advancements, increasing consumer base, advanced healthcare infrastructures, and growing health awareness among people are some of the major growth drivers of the global brain tumor diagnostics and therapeutics market.
On the other hand, the high cost of these tests and lack of trained personnel might restrain the growth of the global brain tumor diagnostics and therapeutics market. Nevertheless, opportunities are likely to materialize from the emergence of new technologies such as chemical exchange saturation transfer (CEST) and sodium magnetic resonance imaging (Na MRI). These technologies not only aid in the diagnosis of tumors, but also in therapies treating them.
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Based on types of tumor, the anaplastic astrocytoma, anaplastic oligodendroglioma, low-grade (diffuse) astrocytoma, ependymoma, glioblastoma, and oligodendroglioma can be the major segments.
Global Brain Tumor Diagnostics and Therapeutics Market: Regional Outlook
Based on region, the global brain tumor diagnostics and therapeutics market can be segmented into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. North America, with the U.S at the forefront, is expected to witness significant growth. The increasing demand for brain tumor diagnostics and therapeutics from this region can be attributed to the rising incidence of brain tumors. According to the Central Brain Tumor Registry, the U.S. might witness approximately 79,270 new cases of primary non-malignant and malignant brain and CNS tumors by the end of 2017.
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Furthermore, Asia Pacific is slated to expand considerably over the forecast period, as the awareness about the availability and significance of these tests is gradually spreading. The healthcare expenditures and per capita incomes of people in countries across Asia Pacific are also rising, promising further expansion of the brain tumor diagnostics and therapeutics market in the region.
Companies Mentioned in the Report
Some of the major market players operating in the global brain tumor diagnostics and therapeutics market are Philips Healthcare, Roche Diagnostics, GE Healthcare, Toshiba Corporation, Carestream Health, Bristol Myer Squibb, Hitachi, Ltd., and Siemens Healthineers.
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