The global glioblastoma multiforme (GBM) treatment market was valued at US$ US$ 1.61 Bn in 2020 and it is estimated to expand at a CAGR of 8.1% from 2021 to 2028. The global glioblastoma multiforme (GBM) treatment market is expected to reach the value of US$ 3.72 Bn by the end of 2028.
Glioblastoma Multiforme Treatment (GBM) Market: Overview
According to Transparency Market Research’s latest report on the global glioblastoma multiforme treatment (GBM) market for the historical period 2017–2019 and forecast period from 2021 to 2028, increase in research funding, rise in government support, improved regulatory framework, technological advancements, and surge in prevalence of chronic glioblastoma multiforme disease are projected to drive the global glioblastoma multiforme treatment (GBM) market during the forecast period.
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Increase in Approvals for Glioblastoma Multiforme Treatment: Key Driver
Glioblastoma Multiforme (GBM) is the most common and aggressive form of primary brain cancer
Increase in approvals for novel and combination therapies is projected to propel the global glioblastoma multiforme treatment (GBM) market during the forecast period
In December 2021, Sapience Therapeutics, Inc., a biotech firm specialized in developing novel therapeutics to treat oncology indications, received the U.S. Food and Drug Administration’s (FDA) fast track designation for ST101. ST101 is a peptide inhibitor of C/EBPβ for the treatment of patients with glioblastoma multiforme (GBM). In June 2019, the FDA granted Pfizer’s Zirabev, a mAb biosimilar of the reference product, Avastin, for the treatment of glioblastoma, colorectal cancer, and others diseases. In January 2020, the company announced the launch of the product in the U.S.
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Surge in Incidence of Glioblastoma Multiforme: Major Driver
Rise in awareness about chemotherapy treatment is projected to drive the global glioblastoma multiforme (GBM) treatment market during the forecast period
Increase in cases of brain and other nervous system cancers across the world is another factor anticipated to propel the glioblastoma multiforme (GBM) treatment market. Several companies emphasize on inventing generic products for the treatment of glioblastoma to strengthen their presence across the developing & developed countries and maintain their competitive advantage. Moreover, increase in funding and grants for companies engaged in research activities related to glioblastoma are expected to augment the global market during the forecast period.
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High Cost of Glioblastoma Multiforme Treatment R&D and Manufacturing to Hamper Market
The global glioblastoma multiforme treatment (GBM) market is concerned about R&D and manufacturing costs as well as market price. For a developing organization, glioblastoma multiforme treatment research & development requires significant resources.
Glioblastoma multiforme treatment (GBM) is a niche segment and requires high investment. Hence, uncertainty over expected profit deters companies from entering the market.
Positive Regulatory Framework in U.S. Benefitting Healthcare Companies
Mature healthcare markets such as the U.S. in North America are creating stable revenue streams for market stakeholders. North America is projected to be a highly lucrative region for the glioblastoma multiforme (GBM) treatment market throughout the assessment tenure. Major healthcare companies are bullish on investments in R&D for increasing the availability of treatment options across the region.
Leading-edge and advanced healthcare infrastructure in the U.S. has aided in the development of drug repurposing for the treatment of glioblastoma multiforme. Moreover, favorable regulatory environment is a key factor propelling the glioblastoma multiforme (GBM) treatment market in North America. A positive legal and regulatory environment facilitates the development and early acceptance of GBM medications.
Glioblastoma Multiforme Treatment (GBM) Market: Competition Landscape
This report profiles major players in the global glioblastoma multiforme treatment (GBM) market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
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The global glioblastoma multiforme treatment (GBM) market is quite competitive, with the top 10 players accounting for major share of the market and companies focusing on research & development to produce better pharmaceutical and vaccine products for the existing diseases.
Leading players operating in the global glioblastoma multiforme treatment (GBM) market are
- AbbVie Inc.
- Activartis GmbH
- Agenus Inc.
- Arog Pharmaceuticals Inc.
- Bristol-Myers Squibb Company
- Cavion LLC
- Celldex Therapeutics Inc.
- CTI BioPharma Corporation (formerly Cell Therapeutics Inc.)
- Cortice Biosciences Inc.
- Eisai Co. Ltd.
- Exelixis Inc.
- Hoffmann-La Roche Ltd.
- Peregrine Pharmaceuticals Inc.
- Merrimack Pharmaceuticals Inc.
Glioblastoma Multiforme Treatment (GBM) Market: Key Developments
Key players in the global glioblastoma multiforme treatment (GBM) market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to drive the global glioblastoma multiforme treatment (GBM) market.
A few expansion strategies adopted by players operating in the global glioblastoma multiforme treatment (GBM) market are:
- In February 2022, a researcher from the University of Alabama at Birmingham (UAB) Department of Pathology received a US$ 3.09 Mn R01 grant from the National Cancer Institute in order to fast-track the drug development for glioblastoma
- In January 2022, ITM Isotope Technologies Munich SE, a Germany-based pharmaceutical company, entered into cooperation agreement with Helmholtz Zentrum München, the German Research Center for Environmental Health for the clinical development of radiopharmaceutical therapy, for the treatment of glioblastoma multiforme
- In November 2021, OX2 Therapeutics, Inc., an innovative healthcare therapeutics company, announced the early results from phase 1 trials of its glioblastoma multiforme treatment (GBM). The treatment was developed using peptide inhibitor to fight against recurrent high-grade gliomas.
- The report on the global glioblastoma multiforme treatment (GBM) market discusses individual strategies followed by company profiles of manufacturers of glioblastoma multiforme treatment (GBM) devices. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global glioblastoma multiforme treatment (GBM) market.
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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